Do scams harm Bitcoin's reputation in the mainstream world?

[PALM]

There has been a lot of scams within the crypto space over the course of its lifetime. Most recently, a Twitter hack that took the accounts of prominent figures within the mainstream world, has been all over the news. Mainstream media has been making people believe that Bitcoin is "bad" by tying it to the Twitter hack. While malicious actors demanded to be paid in Bitcoin, it doesn't mean that the cryptocurrency itself is a scam. Unfortunately, many people in the mainstream world have commented about Bitcoin negatively because of the recent hack. Despite these unfortunate series of events, Bitcoin and other cryptocurrencies are experiencing huge gains on the market.

Do you think that scams harm Bitcoin and other cryptocurrencies' reputation in the mainstream world? What will it take for people to distance scams from Bitcoin itself? Thoughts? Huh

[AbdulShiek]

It could really hurt the reputation of the Bitcoin all over the world. I heard people have been taking away their funds due to the fake news about Bitcoin recently.

[sashavich04]

Even prior to the twitter hack, bitcoin has been called with so many names, like scams, ponzi schemes, being used by criminals (drug lords, terrorists) etc. And yet it still survived, get to a new all time high in 2017, suffers a long bearish trend, bounce back. In short it is very resilient and it's already proven that no matter what negativity they thrown, it doesn't have long term impact. So regardless if we have a twitter hack in the name of bitcoin, I don't see it's reputation being harm in the mainstream much worst than the media attacks back on 2016-2017.

[Mr. Cid]

Even prior to the twitter hack, bitcoin has been called with so many names, like scams, ponzi schemes, being used by criminals (drug lords, terrorists) etc. And yet it still survived, get to a new all time high in 2017, suffers a long bearish trend, bounce back. In short it is very resilient and it's already proven that no matter what negativity they thrown, it doesn't have long term impact. So regardless if we have a twitter hack in the name of bitcoin, I don't see it's reputation being harm in the mainstream much worst than the media attacks back on 2016-2017.

Some people use bitcoin in their dirty work. It's one of the reasons why some people are reluctant to invest their funds.

[Newbie_trader]

Some people use bitcoin in their dirty work. It's one of the reasons why some people are reluctant to invest their funds.

At first, I was quiet hesitant to invest my funds because I found a lot of negative reviews about Bitcoin. Thanks to my friend who guides me along the way.

[Alexthedefender04]

Yes, but mostly because people don't understand Bitcoin. To some it's an internet magic money and they already know that internet is full of scams. It's just one more to these people. I was pleasantly surprised that twitter hack didn't do more damage to bitcoin. I was sure it would be dealt as a "bitcoin hack" in the media, but people didn't seem to agree with the headlines. They seemed to understand that it had everything to do with the twitter and less with bitcoin.

[darexgeorgieviya04]

Although the scam situation that happened dont have effect on the bitcoin market but that doesnt mean bitcoin reputation was not harm or it global adoption was not affected by scam activities happening because we have some government which are planning to legalize bitcoin and the scam issue could change their mind. Besides, none of all crypto exchange site have adequate security save from hackers.

[Mr. Cid]

Although the scam situation that happened dont have effect on the bitcoin market but that doesnt mean bitcoin reputation was not harm or it global adoption was not affected by scam activities happening because we have some government which are planning to legalize bitcoin and the scam issue could change their mind. Besides, none of all crypto exchange site have adequate security save from hackers.

It can significantly affect the number of investors in Bitcoin and harm its reputation over time.

[Trader_Rob]

For me, scams are what tarnish the reputation of Bitcoin. We know that Bitcoin is starting to get the trust of many people but because there are many fraud companies that offer Bitcoin investment, it affects the overall image of Bitcoin.