Bitcointalk, always retarded

Retarded, as in late.

Bitcointalk has the tendency to fall in love with scams, live in denial, hate the ones calling out the scams, then eventually realize they got scammed. Way too late.

Many of those clairvoyant people were actually banned from the forums; this isn’t just some groupthink à la reddit but an actual organization promoting scams. The poorly thought trust system also highly favors said organization, considered as trustable by default.

GLBSE, Cognitive, Labcoin, MtGox, Neo&Bee, the list goes on. And they do not learn, the cycle appears to repeat every time.

But what can you do?

  • If it’s on Bitcointalk, assume it’s a scam.
  • Assume that the more involved in the Bitcointalk power structure someone is, the more of a scammer he is; including “VIP”, “Donators”, etc.