Pull Your Own Strings

The Average Scam Band

Thursday October 13, 2016

Let’s see what an average scam in Bitcoin looks like today. For reference we will use this Reddit post from a known scammer. A complete newcomer clueless as to where to ascertain real knowledge will likely fall for such a scam.

The previous tight “lockstep” correlation between Bitcoin price and volume ended in late 2014 – with the price now dipping/lagging below the level predicted by Metcalfe’s law.

First we see the utilization of pseudoscience as evidence to a claim. Con artists usually use scientific sounding theories to back their con.

Metcalfe’s Law was debunked earlier, and it has even been postulated that connections in a network such as Bitcoin can detract from the system’s value. Using this as evidence for a claim ignores the existence of scammers and malicious actors. In this case the real scammers are ignored since they are too difficult to see for the average derp, and instead more visible and less malicious scammers are targeted instead.

Install Bitcoin Unlimited.

Second the random poster appeals for the newcomer to install software before verifying the consequences of running it. This is a tactic used by politicians to vote for their platform. They find one emotional issue lemmings align with to usher in their rise to power. The problem here is a Bitcoiner can never be overly vigilant, and as such should verify any software they run on their machine. Endorsing the use of something without understanding it fully always results in heartache in the Bitcoin world.

Other possible suggestions from this scammer in the future may be to ask for donations to fund the operation of fake AWS nodes, then embezzle the money.

Over are the days of Patrick Harnett the Bitcoin banker, or Usagi the Bitcoin insurer. Those now playing Bitcoin politician and Bitcoin lobbyist hope to change Bitcoin to endorse the activities of scammers.

The extremely vigilant and productive Bitcoin Foundation issues the following license with their software:

I. You do not have, nor can you ever acquire the right to use, copy or distribute this software ;

II. Should you use this software for any purpose, or copy and distribute it, to anyone or in any manner, you are breaking the laws of whatever soi-disant “sovereign jurisdiction” you may be deemed to be located within, and you promise to continue doing so in the indefinite future.

In any case, please always : read and understand any software ; verify any PGP signatures that you use – for any purpose.

The license itself gives the most trustworthy and sage advice regarding computer science. It asks the user to empower themselves with skepticism instead of blindly trusting the authors. A lot will say in rhetoric, “Do you really expect the average person to learn code and technicalities of Bitcoin?” I very much do if I’m going to do extensive business with them. The house of cards in the fiat world was constructed due to the very reason the average person was not encouraged to understand the foundations of their money. That worked out pretty well for the average person in the end who paid their mortgage on time, worked hard, but still lost everything during the recession.

Bitcoin raises the bar on human interaction. If you aren’t ready for it, don’t whine, but evolve.

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