Bitcoin buyers beware. As well as holding their nerve as the cryptocurrency's value rockets and plummets, potential investors have to be wary of hacks, Ponzi schemes and confidence tricks. Marie Vasek at the University of New Mexico, and Tyler Moore at the University of Tulsa, Oklahoma, scoured reports on the cryptocurrency message board site bitcointalk.org and found that between Jun 2011 and Nov 2016 there was a new scam nearly once a day: 1780 in total. These varied from confidence tricks to double-your-stakes gambling to Ponzi schemes. Half the schemes Vasek and Moore detected lasted a week, and a quarter lasted less than a day. However, one ran for three years before finally being shut down
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