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Bitcoin Circuit and the scam with Bruno Vespa
Bitcoin Circuit and the scam with Bruno Vespa
Security

Bitcoin Circuit and the scam with Bruno Vespa

By Marco Cavicchioli - 4 May 2020

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Yet another scam that is promoted through fake news: it’s called Bitcoin Circuit and involves the name of Italian journalist Bruno Vespa

The scam was spread with a post on Facebook where it was said that Bruno Vespa was earning money thanks to a new automated cryptocurrency trading program. 

As it was already the case several times in the past, it turned out to be a scam, which was then directly denied by Bruno Vespa himself, whose name was exploited by fraudsters without his knowledge. 

In particular, Bitcoin Circuit presents itself as a software capable of automatic trading on bitcoin and crypto markets. 

It is enough to read what is written on the website to understand that these are just lies. 

For example, they write that a bitcoin is a computer file that has been stored in a virtual portfolio app, whereas it is actually an entry on a distributed ledger consisting of thousands of identical copies of a file, the blockchain, stored on tens of thousands of nodes. 

These are not apps, but machines running special software, whereas nowadays wallets do not necessarily have to download and store the entire blockchain. 

Then they say that it is estimated that by the end of 2020 a bitcoin will be worth almost half a million dollars, a prediction that to date does not seem realistic at all.

They also add: 

“Think of bitcoins as single blocks. Each block is similar to traditional currency”

This is all fake information, far distant from reality.

Other errors appearing on the website include the statement that bitcoins are more valuable than traditional cash and above all that it is not impossible to create fake ones, copy them or make spurious transactions with someone else’s bitcoins.

In light of these statements, it is clear that the website offering them has been created by people who are not familiar with the functioning of bitcoin, and who are evidently presenting their potential customers lies fabricated only to make them believe that they can earn money easily, quickly, and effortlessly. 

Among other things, the website states that the amount of money that can be earned on Bitcoin Circuit depends entirely on one’s own investment of time, money and effort. In other words, if it were really an automatic trading software, then it should not hide the fact that there is always a risk factor, which is absolutely relevant. Hiding it is equivalent to admitting that what is claimed are just lies. 

The lie becomes very clear when they say: the more capital you invest in trading, the more money you will make. This statement is obviously false. 

Then they add: 

“Some of our members earn over $1,500 a day. Some make even more”. 

It is obvious that those who lie by proposing easy gains in this way are only trying to scam the unlucky ones who make the mistake of believing these lies. 

Finally, the most obvious lie is the claim that the Bitcoin Circuit app has been named the No. 1 trading software app by the US Trading Association.

This phantom US Trading Association doesn’t really even exist, so what they say simply can’t be true. 

 

Marco Cavicchioli
Marco Cavicchioli

Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".

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