WAKE UP!! 5 Remarkable Scams you accept that will make you reconsider Bitcoin

Scott Debevic
6 min readAug 26, 2021

Quite often, I see articles and blog posts determining that Bitcoin is a Ponzi scheme or a scam only benefitting early adopters. This group seems to have a hard time separating intrinsic value from perceived value. It’s understandable to believe something has value because people value it.

Man realizing that Bitcoin isn’t a scam.
Picture by Mikhail Nilov on Pexels

However, I would argue that several scams exist today which are far less benevolent. I am going to highlight 5 scams that are openly accepted to hopefully get some non-believers in cryptocurrency to question their conclusions and re-think Bitcoin.

This article is not financial advice. I am not a financial advisor. These are my opinions and I am open to owning that some of my opinions are wrong or disagreeable to some readers.

Scam #1- The Lottery

Over $70 billion was spent in America alone on the lottery last year. This chart shows state by state, how much Americans wasted on lottery tickets in 2020. In China, people wasted over $50 billion on the lottery in 2020.

We are told that the proceeds from the lottery are spent on important things like education, policing, and social services. And because it is being hosted by governments, there is very little pushback or press discussing how big of a scam the lottery is.



Scott Debevic

My goal is growing wealth and earning passive income. Mainly focused on Bitcoin and crypto. Feel free to contact me at: scottdebevic@gmail.com