95% of cryptocurrencies are fraudulent - page 3.

SirLancelot

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Quote from: Alikhaki123 on August 19, 2021, 10:21:43 AM

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

Well, that’s why you have to be really carefully these days, because there’s always going to be lots of fake projects that are owned by scammers. What they mostly do is to copy and paste from the original and that’s it. Once they are caught they will move on to create another one that they are going to use to be scamming people.
That’s how it is everywhere, and since these scammers can easily copy whatever they want and just paste it, They tend to keep creating lots and lots of fake projects on the net.

Now, it is up to us to be able to figure out the fake projects when we are looking for what to invest in. When you are investing your money in a project, if you are not sure of what you’re investing in, then it’s best that you leave it, and look for other projects, because there are many of them.

abralzain17

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Quote from: Alikhaki123 on August 19, 2021, 10:21:43 AM

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

what was discussed in the meeting was very true in my opinion. There are a lot of junk coins on the market today whose purpose is to deceive others. even now there are a lot of trash tokens that go into the bsc wallet.

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Quote from: Sithara007 on September 13, 2021, 12:28:11 AM

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No wonder investors say 95% of the many projects launched are scams, this is not the case with crypto as a whole. There are so many memes of coins on the market that are no longer actively traded and various parties that come up with the idea of crypto to recruit investors to invest where they end up being scammed, experiences like this make me think crypto should be monitored by the state. However, it is highly unlikely that cryptocurrencies are controlled by the government. 2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.

At least a part of the blame should be on retarded people who pour their money in to such projects. Back in 2016/17, a number of ICO projects returned 100x or even 1000x returns for those who invested in them. And as a result, there was a lot of hype related to the ICOs. A lot of users were rushing to invest in ICOs, despite the shady credentials. They were hoping that at least 2-3 out of 10 projects would return good profits. That didn't happened and most of those who made their investments lost the capital amount.

That was part of the process, you can't blame them for investing money because they saw the potential and they believe that they could make money. They lose, that's okay because there's a lot of opportunity in crypto, and if they learn from their mistakes, then probably they are already in profit now.

As the market is not yet fully regulated, you can see more scams as it's easy for scammers to play here, but as their style was exposed, I'm sure that will give awareness to investors on what to look for when investing.

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No wonder investors say 95% of the many projects launched are scams, this is not the case with crypto as a whole. There are so many memes of coins on the market that are no longer actively traded and various parties that come up with the idea of crypto to recruit investors to invest where they end up being scammed, experiences like this make me think crypto should be monitored by the state. However, it is highly unlikely that cryptocurrencies are controlled by the government. 2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.

At least a part of the blame should be on retarded people who pour their money in to such projects. Back in 2016/17, a number of ICO projects returned 100x or even 1000x returns for those who invested in them. And as a result, there was a lot of hype related to the ICOs. A lot of users were rushing to invest in ICOs, despite the shady credentials. They were hoping that at least 2-3 out of 10 projects would return good profits. That didn't happened and most of those who made their investments lost the capital amount.

tees420mar

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Its because in the first place these kind of technology is out of control reason anyone can make projects immediately without any authorization even some of them are not professional and sometimes the intention is to scam other people, that's why as well a lot of people saying investing is very risky aside of being so volatile of it.

kokrokok

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almost average new projects have the same concept so they can't compete in the market and many of them end up being scams, maybe that's what makes some people say if crypto is 95% scam, actually if they want to do more research they will avoid it. scammers

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2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.

That will never come back anymore, that time, the market is not yet popular, and there are only few projects you can find, now, it's full of coins and tokens and the number of scams has increased as well, yo know, whenever there's an opportunity, scammers will come to play, so our only weapon to fight is knowledge, without that, we will fail with our journey here.

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Quote from: reza7777 on September 11, 2021, 06:23:39 PM

Maybe I will agree with what he said because right now the crypto space is only filled with projects that have bullsh*t/only take personal advantage, only a few projects that think about the future

We are also not noble people and think about the benefits of the future, we also only think about personal benefits from projects and when the project exists a similar mindset, it's not something we can criticize, we're not too much better than them, they cheat a lot of people's money, we also make money from such scams. You should agree with me on this point as we many times make money from projects whose future is extremely bad, but more fraud from crypto, we just need to keep a certain boundary with fraud still avoid the fate of a victim and safe

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Quote from: reza7777 on September 11, 2021, 06:23:39 PM

Maybe I will agree with what he said because right now the crypto space is only filled with projects that have bullsh*t/only take personal advantage,

The fact that many projects are like that, it contains the market with a lot of those types of projects.

Quote from: reza7777 on September 11, 2021, 06:23:39 PM

only a few projects that think about the future

It is true that very few projects are thinking about the future of what they're building. They may take some profit as they've developed it but they never put at stake the future of the project and they're continuously developing it. Especially, if they've already built a large community and the project seems to take a lot of attention from many investors around the world that sees the future with it.

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Maybe I will agree with what he said because right now the crypto space is only filled with projects that have bullsh*t/only take personal advantage, only a few projects that think about the future

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Quote from: suryana on August 29, 2021, 02:37:26 AM

Maybe he has a point too. Now that so many coins have sprung up that I might say it's not clear in what direction. That's why investing in popular coins is much better than investing in new coins that we ourselves don't know will be like. I can say that this coin will make you rich overnight but it is very possible that this coin will cost you.

High risk, high reward. Even if we consider the statement 95% of cryptocurrencies are fraudulent is true then that left 5% of cryptocurrencies are legit or will become a big thing. 5% is good enough if you understand how investment work as there is nothing guaranteed to become successful.

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Quote from: suryana on August 29, 2021, 02:37:26 AM

Maybe he has a point too. Now that so many coins have sprung up that I might say it's not clear in what direction. That's why investing in popular coins is much better than investing in new coins that we ourselves don't know will be like. I can say that this coin will make you rich overnight but it is very possible that this coin will cost you.

it identifies the problem in a risk. many new coins that only collect investor funds and on the way it is not clear the direction of the coin. but indeed not all new projects are bad. we can analyze it with an approach to find projects that can really be invested. but indeed my advice is not to use most of your capital, because there is a high risk of fraud

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Maybe he has a point too. Now that so many coins have sprung up that I might say it's not clear in what direction. That's why investing in popular coins is much better than investing in new coins that we ourselves don't know will be like. I can say that this coin will make you rich overnight but it is very possible that this coin will cost you.

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Quote from: indah rezqi on August 29, 2021, 02:16:08 AM

I emphatically say it's their right to say that 95% of cryptocurrencies are fraud. If it is true that 95% of cryptocurrencies are fraud, why is cryptocurrency the latest trend in many developing countries even though it is not legalized. This means that 95% of the people in the world are involved in cryptocurrency activities.

This thinking is actually not wrong. more and more junk altcoins are indeed being created. You can also see that in every BSC transaction there will be a trash token that goes to your address.
but as you said, adoption is getting bigger, and trust is growing. although there is no legalization yet many people continue to be involved in crypto transactions around the world.
to be honest, I have to say crypto has a better-looking future.

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I emphatically say it's their right to say that 95% of cryptocurrencies are fraud. If it is true that 95% of cryptocurrencies are fraud, why is cryptocurrency the latest trend in many developing countries even though it is not legalized. This means that 95% of the people in the world are involved in cryptocurrency activities.

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Quote from: bosede1 on August 19, 2021, 12:40:31 PM

There is nothing you see in this world that some set of people cannot do fake or do fraudulent acts for, I don't know if this scenario is conversant in your country but in mine yes. You will see some people telling you they are calling from your banks and collect some certain information and dupe you of your hard earn money.

The sad truth we all should actualise is that there is scam everywhere even in our real world, most people are just too lazy to make money legitimately there prefer fraud, well even in my country scammers does same thing, there call you claiming to be a bank worker and seeking for your credentials to be able to extort money from people. Well this shows that scam doesn't exits in crypto alone it's a thing which revolve round the world, but no matter the rate of scam coins the good and beneficial ones are still up and doing.

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Quote from: Irenerty on August 23, 2021, 04:38:50 AM

He is right that most cryptocurrencies are fraudulent.

Many altcoin makers are mostly for their own interests, and they are projects that deceive and lure investors with huge profits.

Investing in these altcoins when they first appear may bring high profits to investors, but this is only to attract more investors. Over time, most cryptocurrencies will become worthless.

Things has to be done about this cause it very obvious that majority of developers are developing altcoins just for there own selfish interest. Many promising projects that are in the own internet now are scam and there is need for the government to step in and regulate this garbage coins that are intended to scam investors of the their the money. If this garbage coins continue to full the full the cryptocurrency market, it will get to a point that the crypto market might lost value due to bad eggs that dominate the market.

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Quote from: batang_bitcoin on August 26, 2021, 01:09:50 PM

The newer ones have to make their research very well because they're the ones that's very prone to losses if they don't do research.
It is all about how they're going to make themselves better as with researching what are the valuable cryptos that they can, they're also helping themselves to improve and to avoid coins that they shouldn't invest.

let alone researching new projects and carried out by beginners in doing business in the crypto world. Of course, you have to be very careful because this can have a bad effect if you analyze it incorrectly. indeed we know that there are thousands of altcoins, and when a storm occurs it will be like natural selection. for a trusted altcoin then he will be able to survive until the next bullrun occurs

As for those coins that have been reputable in the market for such a long time, there will be a lot of years for them to survive and they're hard to be seen dropping down until they go zero volume.
But not all of them will have their survival moments as many of those reputable projects years ago that are no longer a thing today. That's why research is a must not only for newbies but for everyone.

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Quote from: Alikhaki123 on August 19, 2021, 10:21:43 AM

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

In 2015 there were not many coins circulating in the crypto market. So the level of fraud is also still minimal compared to now. If you check the CMC story, there are about 500 coins, and no Tokens. It was only after the emergence of Ethereum, Tron and others with smart contract systems that more tokens appeared in the crypto market. Those who want to create tokens so easily do so. So this gives rise to a lot of fraud in cryptocurrency.

It started with the ETH tokens, that explodes in 2017 to early 2018 bull run, however, we can't blame that on ETH, but it should be the people who should be more educated to choose the legit among the scams in the space. People at that time think that whatever they buy will give them long-term profit, and though it happened to some coins like BNB which is an ETH token at that time, for most ETH tokens, that dream is not achievable anymore now.

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Quote from: Alikhaki123 on August 19, 2021, 10:21:43 AM

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

I don't agree that 95% is a scam because there are so many altcoins that are capable of growing in every crypto market. maybe in my opinion, they only know 100 altcoins so they dare to claim that 95% are scams. but if they know more than 10,000 altcoins then the percentage that is able to grow is more than less than mentioned above.

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