These are just the most recent badsites. Click below for these
and more Cryptocurrency badsites In alphabetical order.
6129 Frauds and Badsites as at Oct 3rd 2018.
Bitcoin is ONLY produced by mining
Bitcoin mining is a very expensive, power hungry process, that you cannot do on your PC, Laptop or Tablet.
To mine bitcoin, you need specialist equipment.
In the early days, you could mine on a PC, but that phase didn't last long, and now you need a dedicated SHA256 ASIC Miner.
The Antminer S9, and DragonMiner are two that you may have heard of, and more are on the way, but these all cost thousands of dollars, and eat Electricity!
So what are these Generators, and why does it say you have generated say 5 Btc?
Well, you haven't generated bitcoin at all. It's just a number displayed on your screen.
The theft happens, when you are asked to send a Fee. Either a Mining Fee, or Withdrawal Fee. Anything you send, you are sending to a thief. You will never get it back.
Ponzi is any scheme which pays interest to "Investors" from Bitcoin coming in from new Investors. A
HYIP (high yield investment program) is just a Ponzi. All Ponzi/Hyips will fail. The later Investors will lose everything when the scheme folds and leaves with the Bitcoin.
Most HYIPS and doublers etc, just steal it immediately. You send it and they keep it.
Due diligence is your own responsibility.
There are plenty of good sites out there where your Bitcoin and your work are safe. You just need to do your homework, including checking here. If it isn't in our Badlist, email us, and we'll check it and get back to you.
psychology behind the typical ponzi’s & HYIP's run by the
“professional” scammers. They know most people will do this.
You deposit a small amount, you want to be cautious, you can’t quite figure out how they do this – but they sometimes double it (or pay promised interest) and pay you.
You think – Ah that’s great, so you either redeposit the entire amount, or just your profit. You get that back and think wow, it works, so then you deposit a much larger amount and in the worst case, even get your friends and family involved in this wonderful money making scheme.
Then one day, after not long it just doesn’t get returned – there is some issue with your account, or your withdrawal is stuck or something similar, so you keep emailing the site and gradually it dawns on you that you’ve been scammed. Commonly the scammer will even show you the transaction, but it just isn't real.
Even if you just put your initial profits back in, the conman hasn’t lost anything – and the depositors who think they are ‘playing’ the ponzi, by getting in early, do try that, and most of them don’t get it back either. People who run Ponzi's are thieves.
Some people empty their life savings into these scams, and they are the ones the scammers are really after. Once they get that big depositor, they move on and create a new ponzi, just leaving the old one alive for a while to mop up any new ‘mugs’ Some even return after a 3 or 6 month absence to catch a fresh load of hits, they will never run out of victims. It’s what they do, and they are expert at it.
If you have never read it, then a great place to begin your bitcoin adventure is by reading the very short original White Paper, from Satoshi Nakamoto. This
explains the concept of bitcoin, and why so many of us work so hard to progress this disruptive technology.
When you understand the potential of bitcoin, you will also understand why so many people want to steal it from you. The future value is much debated, but with consensus saying that it has a very long way to go, before becoming any kind of bubble.
Bitcoin is not a ponzi, and is not a scam. It's value is derived from it's raw cost of production, and it's value as a functioning token of trade, and store of value. The blockchain is supported by the transaction fees (or at least it will be when all the bitcoin has been mined) You can help propogate the network, and have a local wallet by running the bitcoin core software, available from Bitcoin.org. This will run a Bitcoin Full Node on your computer - don't worry, it's safe!
There are some legitimate investments out there, and some great casino's, places to earn and spend, and a lot to explore, but be careful, and if in doubt, don't send your bitcoin.
We aim to expose the sites that deliberately set out to defraud you, and list them before they can do too much harm, however, there will always be some of you who choose to ignore our advice, and there is nothing we can do for you beyond warning you. If it is in our badlist, it is an intentional fraud. You have been warned.
This project is 100% dedicated to Cryptocurrency. All our revenue and spend is now sourced entirely within this Industry, and we aren't just about Bitcoin, we cover all the main Coins. Bitcoin (BTC or XBT), Litecoin (LTC) etc. We no longer investigate faucets as these would need their own site.
Bitcoin donate 3GPcm7BcqT938ftPws37yyFQpd7W4pfmix
Litecoin donate MLjRjB5DkA56dTfN7UAbvxypogrY4wmFhb
No BCH PLS
Start learning about Cryptocurrency safely - visit our Safety Tips page.
You will no doubt come across negative comments about this project, but understand that this is the scammers only route to fight back, and a great
many of these scammers are the same people who are Senior, and Gold members of forums.
Forums relating to bitcoin are the best source of conflicting information ever, which is why we keep it plain and simple, we tell you it's a badsite (albeit sarcastically - we have to stay sane) and that's really all you need to know to stay safe.
When we started this project, we didn't expect that it would still be needed years later, but the interest in bitcoin is driving every web fraudster to try their hand after bitcoin. The bitcoin Industry on the whole is clean, these fraudsters generally do not come from the inside, but often from the world of fiat, and a great many from developing countries and Eastern Europe.
It can be really easy to misunderstand the bitcoin environment when it's all new to you, and it will take you some time to grasp some of the rules, concepts, and limitations. This leaves you vulnerable to the swathes of scams and ponzis that try to lure you into their promises of easy money, and doubling or even 100 times multiplying your new 'Magic Internet Money'
It doesn't work like that. It isn't magic, it's just very efficient, very secure, and much sought after by thieves the world over.
If you have bitcoin, you need to learn to look after it, or these crooks will soon take it from you.
Don't make it easy for them. Contribute by reporting suspect sites to us when you find them, and we'll do the rest.
Declaration of Interests.
We currently mine ourselves. We would not invest
in anything we considered to be a Ponzi or Scam. As a project, we
are not directly funded by any organisation and depend on ad
revenue, our own, and other donations, and our external investments. We also provide links including referral
links to trusted 3rd party sites, not including External Advertisers
beyond our control. Updated August 2017
PS - As a friendly tip, we probably aren't the people to generally ask about good bitcoin investments. We are pretty good at what we do, but so far, like yourselves no doubt, we aren't really that succesful when it comes to our own investments.
The high costs of running this site are helped by adverts. We also have to advertise in the same places as the scamsites. We have little control over this externally served content, and consequently we do not directly endorse any 3rd Party advert. Some adverts will even appear in our Badlist. But at least the Bitcoin they spend on ads is coming back into the Bitcoin Industry.
Footnote. The evolution of society beyond the demise of the failed capitalist neo-liberal (Neo-con) experiment, first needs the evolution of it's means of trade and exchange. The current financial system, and system of fiat currency, is not fit for present or future purpose, and for all intents and purposes is already obsolete. Bitcoin is our first financial step towards a fairer, more beneficial society for all. An experiment that separates Money from The State. Bitcoin is incorruptible, decentralised, consensus led, and above the influence of conventional politics and economics. A parallel currency with which you can begin to trade, and no middleman to take their slice or to gamble with your asset. When you deposit money to a Bank, it becomes the Banks property to do with what they choose, bitcoin is different, and you are your own Bank. It is up to you to take care of your bitcoin, and also to use it, not hoard it, and to be an important part of helping to build this fair and open global society. Bitcoin is worth what somebody is prepared to exchange it for, be that USD, Yuan, PC-hardware, Webhosting or anything that 'money' might buy. You can even get a bitcoin Debit Card. However, the bitcoin Blockchain, and it's potential is a much much bigger subject.