419HAMMER

Bitcoin is attractive to scammers for the same reason it's appealing to you; it's fast,it's international and it's irreversible. So as Bitcoin usage has grown, we have seen more and more scams. The following are some of the most persistent Bitcoin scams. Bitcoin Ponzi, HYIP or MLM schemes These schemes promise sky-high returns and low fees. They often rely on existing investors signing up new ones, which is the only source of revenue or growth. As with all ponzi schemes, early investors get paid with the money from later investors. Inevitably when new investors stop signing up and depositing, the scheme collapses, since no more funds can be paid out. What to look out for These are some of the warning signs that you might be dealing with  an illegal scheme: * Promises of very high returns/interest * Guarantees that you can't lose money * Little verifiable information on company and owners * Difficulties in withdrawing  your funds *