Bitcoin Evolution: Brand new Face, Same old Scam?
If someone had said Bitcoin Evolution is an incredible investment opportunity just a decade ago, no one would have believed them. Many even considered Bitcoins another online scam. Today, however, anyone who knew about bitcoin a decade ago regrets not investing in them while they were still inexpensive. The rise of Bitcoin conveys a very important moral lesson to everyone in the world:
“Don’t be a skeptic when opportunity knocks!”
If you agreed to that proverb then you might really need to be careful about what you invest in. The Bitcoin boom left many people across the world with regrets about not investing when they had the chance. Regret over lost investment opportunity also breeds susceptibility to making bad decisions out of desperation. In other words, perfect victims of online scammers.
The brave new age of Digital Currency
Bitcoins had a very unremarkable beginning, very much like the now famous (or infamous) Facebook. What is interesting about its origin is that no one really knows the real identity of its programmer. It was the brainchild of one or many “allegedly” Japanese national (or nationals) going by the pseudonym Satoshi Nakamoto in 2008.
It began as a white paper on the concept of a decentralized digital currency. The concept took shape in 2009 when the first blockchain was launched to test the viability of bitcoin transactions. Initially, bitcoin transactions were done just for testing purposes. Bitcoins did not gain monetary value until a year later when the first financial bitcoin transaction took place. Papa John’s Pizza delivered a meal worth 25 Dollars in exchange for 10000 Bitcoins. Like any currency Bitcoins, the monetary value was gained initially through the bartering of goods for coins. In the case of Bitcoins, the bartering took place over Internet forums. The first Bitcoin wallet transaction established the real-world value of Bitcoin at 4 Bitcoins to a penny.
No one back then could have imagined that Bitcoins would be adopted so quickly worldwide that in just a decade 1 Bitcoin would be worth 500 Papa John’s Pizzas.
Regret Bitcoin Evolution breeds Opportunity
By 2018, Digital currency was a household concept and everyone wanted in on the action. Hardware manufacturers were swamped with orders and short on stock for Bitcoin Mining equipment. Over the decade Bitcoin’s rising prices made many original participants millionaires, this to many former skeptics appeared to be a real “get rich quick!” scheme and they grew desperate to get their share of the cake. At the front of the line were Scammers and Hackers setting up the pitfall for those behind them. The decade long growth of the Cryptocurrency market is wrought with plenty of heinous scams and hacking incidents, some almost ended the Cryptocurrency era.
A brand new day and a brand new face
“If it is too good to be true it probably is”
This is the golden rule of dealing with Cryptocurrency earning schemes. Although the Cryptocurrency market has matured over the decade, the prospective investors in Cryptocurrency have not. The hacking attempts and the scammers may have slowed down a bit due to the ever-growing security measures on cryptocurrencies but they have by no means stopped trying. Anyone who plans on investing in Cryptocurrency has to understand the risk involved, and the predators waiting to rob them blind. There are plenty of Digital scams still targeting new Cryptocurrency investors. They can be broken down into some basic categories:
- False Endorsements
- Cryptocurrency prize schemes
- Ponzi Scheme or Pyramid Scheme
- Pump n’ dump
- SIM Card Swapping
This brings us to “bitcoin Evolution”. Bitcoin evolution reviews aggressively market it as a miracle investment opportunity for anyone who has absolutely no clue how to make a profit with Cryptocurrency. Their advertised business plan is auto-trading in Cryptocurrency exchange using a bot to turn a profit. They even advertise a minimum of $1100 a day profit. This “miracle” investment is so good that even celebrities are endorsing it. What more do you need as proof that this is a chance of a lifetime?
By now we can already see a pattern forming. Yes! This is number 2 on our list of scams. A scheme that uses false endorsements to lure potential victims into getting in touch with them. These endorsements are photo-shopped counterfeits that use images of celebrities from other news or articles and replaces the captions to suit their requirements. The company running the scam pay promoters commissions of up to $800 to create these convincing hoaxes and lure people into investing in the scheme. What’s next? They will either bait their victim with an insignificant profit or convince them to invest more to get better profit margins. Meanwhile the money their victim invests vanish without a trace and when the investor tries to withdraw them he is either rejected or the company vanishes into thin air along with the victim’s life savings. A story of Pure Nightmare!
The Bitcoin evolution scam is not a new type of scam, just one that is more ambitious than its predecessors. Even if the answer is staring us in the face, there are still many that would ask “Bitcoin evolution, is it a scam?” they do so for the reasons I have mentioned before regret and desperation. The need to regain a lost opportunity clouds their judgment in the face of clear and imminent danger. We can’t help ourselves, It is just human nature.