December 18, 2021 In Describes, Reddit

Reddit User Describes Hilarious Physical Bitcoin Scam

By Mark Hunter

1 day agoFri Dec 17 2021 12: 05: 58


Reading Time: 2 minutes

  • A Reddit user has described a Bitcoin scam involving cheap physical bitcoins
  • The user was pitched a physical bitcoin at an underground station which the seller had ‘mined’ and was selling
  • This Bitcoin scam is one of the most brazen we’ve ever come across

A Reddit user has described a Bitcoin scam they witnessed on an unnamed underground station in the U.S. which involved physical bitcoins being passed off as actual mined bitcoin and being sold for $50. The seller was trying to hoodwink unsuspecting passers-by into paying $50 for cheap bitcoins bought online in one of the most brazen Bitcoin scam attempts we’ve ever heard of.

$50 For a $100 BTC?

sith_happenss reported that they were heading to the underground when they heard a man asking if anyone wanted to buy some bitcoin. sith_happenss was “curious, faked interest and asked how much”, to which the man pulled out the physical metal bitcoins that can be bought in bulk from online retailers for a few dollars.

Brilliantly, the man had “100$ engraved in it” and told sith_happenss that he had mined the bitcoin, before going on to explain how he had in fact “mined too much for this year” and could no longer cash the remainder out, but needed money for Christmas gifts for the family.

The seller told sith_happenss that he would sell the $100-valued bitcoin for just $50, instructing sith_happenss to go to a Bitcoin ATM, insert the coin, and show their face to the camera, adding that the reason he couldn’t do this himself was because the machines stored the pictures and he was already over his limit for 2021.

Brazen Bitcoin Scam May Just Pay Off

Obviously, sith_happenss didn’t succumb to the temptation of buying $100 worth of bitcoin for $50, but there is every chance that the scammer will find more gullible punters – as long as his engraving skills pass the test.