As the number of new Bitcoin users and transactions grow, the number and sophistication of scams in the community continues to reach new heights. Why are so many people getting scammed over and over again?
There are a lot of reasons that explain the why people hand their money to total strangers so easily. One of the prime facts that come into play is that a lot of bitcoinCT r: 8 users have joined the network in the post-thousand dollars per bitcoin era. These consumers feel that they have missed the train and desperately want to make up for it, which puts considerable psychological pressure to want to believe too-good-to-be-true stories. High Yield Investment Program or Trap?
Think of the average Joe that has tens of thousands of dollars of student loan debt following them around, month after month deeper in the red, shocked to find out that his newly acquired college degree only lets him earn a couple of dollars above minimum wage.
These people are desperately wishing for a miracle, and when they find such an innovative and disruptive technology as bitcoin, considered by many to be able to replace the most established and powerful corporations in the word, they are no different than a dehydrated man in the middle of the Sahara desert who just saw an oasis on the horizon.
Now we have people wishing for a miracle on an everyday basis. They suddenly find themselves with cutting-edge technology on their hands, technology that, although they do not entirely understand it, makes them feel that they are in charge of their own lives once again after so long. At first they feel like bank’s doomsday bringers, but after a while, the emotion gets cold and the old problems are still there. This is the critical moment when lots […]
