95% of cryptocurrencies are fraudulent - page 4.

ScamViruS

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Quote from: ?? on ??

The next NFT-based coin will definitely be a lot too, sometimes new coin founders don't have creativity in finding their project ideas and they just do the Fomo and really intend to cheat

When a new hype is created in the market, some people try to use it to take advantage of the market. Then they launch projects in the market under different names, and investors lose their money by investing in those projects. You're right, there's a lot of hype in the market right now about NFT. As a result, investors are rushing to invest in nft projects, and it is in this interest that scammers try to launch a project in the market and run away with investors' money.So we will see in the coming days that a lot of investors have lost their money by investing in nft projects.

batang_bitcoin

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Quote from: Lanatsa on August 25, 2021, 05:56:15 PM

Quote from: batang_bitcoin on August 25, 2021, 05:08:50 PM

Quote from: ?? on ??

oops, 95%
I think it's true what he said, a lot of worthless coins, coins that rely on FOMO, and the hype of one coin before, a lot of coins like that, nowadays
The next NFT-based coin will definitely be a lot too, sometimes new coin founders don't have creativity in finding their project ideas and they just do the Fomo and really intend to cheat

It is true, most of the projects if not a scam, made while there's a hype for that certain category. Like in ICOs, there were a lot of projects that have been made. In IEOs, there were those that have been made during hype and now that there's the NFTs, there's also hype on it.
And that's why those not successful projects that were made during those periods, despite being launched and now in the market, they don't have that much volume and they stay in the market and counted.

For those people who had been on this market for a while is already aware on how this market works or behaves in terms of those projects which are totally shit and just driven off with the hype.

If you are just new then you should really be careful on dealing with things because it might be looking to be interesting but in behind it is just really trying to lure in peoples money.

Always make up some research before diving into anything because if you are just too careless and investing into something which is unsure then most likely losing money
is really always next in line.

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.

stadus

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Quote from: tygeade on August 26, 2021, 07:15:22 AM

Most of these scam projects are also built by the same scammers under different names and profiles. It's important that you can recognize some faces in the team before putting money into the project unless of course, they have a big market cap already.

Sometimes they don't put the same face, they just steal a different identity just to scam people. We should be aware that, if we are educated with these scams, we will likely succeed in investing as there's a lot of great projects that could potentially give our investors a good return.

New projects are risky, but if they succeed, you will enjoy a big profit, but it's still up to you if you are willing to gamble and how big the risk you are willing to take.

tygeade

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I also agree What he said now a lot of junk coins are popping up in the crypto forums, that's the main obstacle this scam can't be solved permanently so that the scammers disappear, but if we invest in certain altcoins and at the right time we can also make more profit,
we have to support each other here if there are altcoins that suspect we shouldn't promote it so that the fraudsters can disappear by themselves

That's why it is important to not just look at the idea behind the project but also the team working on it. If there are known faces, they will not make an exit scam after the ICO or IPO.

Quote from: jinneas on August 24, 2021, 09:41:16 PM

There are great risks in the crypto market. If you want to profit by investing in confidential currencies, you must have sufficient knowledge of them and analyze the project before investing, and invest in cryptocurrencies with complete technical support and safer.

That holds true for meme-coins but no way a good and solid project would follow the same route. Like I have been a supporter for ICP even when the price dropped and everyone was talking shit about them because they have a solid team and a very decent vision.

Quote from: ?? on ??

it's real if 95% coins are trash. they are scammers and create new tokens using the names of already successful coins without official permission.

Most of these scam projects are also built by the same scammers under different names and profiles. It's important that you can recognize some faces in the team before putting money into the project unless of course, they have a big market cap already.

sunce33

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More and more altcoins will be fraudulent/scam.
Now anyone who gets an idea of how to cheat people can easily make an ICO.
A little technical knowledge and here is your website and whitepaper.And the project is alive.
Before the sale, private sale and sale are in progress.And just when they need to pay a bounty and put it in an exchange office to get it back to investors Team disappears.This is more than 95% of cases.

Lanatsa

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Quote from: batang_bitcoin on August 25, 2021, 05:08:50 PM

Quote from: ?? on ??

oops, 95%
I think it's true what he said, a lot of worthless coins, coins that rely on FOMO, and the hype of one coin before, a lot of coins like that, nowadays
The next NFT-based coin will definitely be a lot too, sometimes new coin founders don't have creativity in finding their project ideas and they just do the Fomo and really intend to cheat

It is true, most of the projects if not a scam, made while there's a hype for that certain category. Like in ICOs, there were a lot of projects that have been made. In IEOs, there were those that have been made during hype and now that there's the NFTs, there's also hype on it.
And that's why those not successful projects that were made during those periods, despite being launched and now in the market, they don't have that much volume and they stay in the market and counted.

For those people who had been on this market for a while is already aware on how this market works or behaves in terms of those projects which are totally shit and just driven off with the hype.

If you are just new then you should really be careful on dealing with things because it might be looking to be interesting but in behind it is just really trying to lure in peoples money.

Always make up some research before diving into anything because if you are just too careless and investing into something which is unsure then most likely losing money
is really always next in line.

batang_bitcoin

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Eloncoin.org - Mars, here we come!

Quote from: ?? on ??

oops, 95%
I think it's true what he said, a lot of worthless coins, coins that rely on FOMO, and the hype of one coin before, a lot of coins like that, nowadays
The next NFT-based coin will definitely be a lot too, sometimes new coin founders don't have creativity in finding their project ideas and they just do the Fomo and really intend to cheat

It is true, most of the projects if not a scam, made while there's a hype for that certain category. Like in ICOs, there were a lot of projects that have been made. In IEOs, there were those that have been made during hype and now that there's the NFTs, there's also hype on it.
And that's why those not successful projects that were made during those periods, despite being launched and now in the market, they don't have that much volume and they stay in the market and counted.

iTradeChips

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Quote from: H1N1 on August 25, 2021, 10:09:14 AM

Quote from: nhaila on August 23, 2021, 07:58:20 PM

Recently most of the animals coins specially meme coins becoming scams. A few months ago I invested dogecoin coin and safemooncash both are scams projects. But some nft project also scams and given me a lots of losses.

What do you mean dude ? dogecoin is not a scam coin. Indeed most of meme coins are not good to invest, but doge is not scam.
OP said that 95% crypto are fraudulent, but i think it should be less than 95% because there are many good legit projects in crypto as well.
Maybe OP mean 95% of meme coins.

Dogecoin might not be a scam coin but many others are riding to the hype of the Dogecoin and its symbol the Shiba Inu. There must have been many many more meme coins that were released throughout the years but most of them failed after the hype or because of an ever increasing number of crypto players becoming more aware of scams and fake projects. You just got to rely your information mostly from reliable sources so you can invest on a legit coin that has a good future.

H1N1

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Quote from: nhaila on August 23, 2021, 07:58:20 PM

Recently most of the animals coins specially meme coins becoming scams. A few months ago I invested dogecoin coin and safemooncash both are scams projects. But some nft project also scams and given me a lots of losses.

What do you mean dude ? dogecoin is not a scam coin. Indeed most of meme coins are not good to invest, but doge is not scam.
OP said that 95% crypto are fraudulent, but i think it should be less than 95% because there are many good legit projects in crypto as well.
Maybe OP mean 95% of meme coins.

Squezzi55

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You might be right but the case here is making money out of them even if their long term plan is to be fraud, I wouldn't bother myself much in this area since all developers are also humans like myself, they are here to make money too, this is why taking profits from new Altcoins and investing them in BTC is my best strategy

Retainly_Collie

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Quote from: Retainly_Collie on August 24, 2021, 07:23:06 AM

It doesn't matter because he will still be a bitcoin user in the future, statements like these I have some doubts about its purpose. Actually, the barrier between crypto/blockchain and users is still something quite hazy.

Not just in the case of crypto there is fraud in almost every job fraud can be avoided if the market is not properly analyzed before investing in crypto to achieve its purpose. The problem is more for new traders they have less knowledge about the market so they fall prey to scammers.

So is the problem with new investors or from such news?
I see a vicious cycle of those in control, and newbies will stay new if they can't overcome these barriers.
But anyway, sensational news like this brings excitement to us.

iTradeChips

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Quote from: NotFuzzyWarm on August 19, 2021, 11:41:56 AM

Quote from: DarkDays on August 19, 2021, 11:21:01 AM

Although a bit harsh, he did not understate the situation. From 8989 coins as of now (listed on Coingecko) 95% of them are only hype coins without utility backing them up
....

Mein Gott in himmel! 8,989 coins Shocked

I knew there were a crapton of shit coins but nearly 9k of them is insane...

So my best guess is that there are 8,989 computer geeks and programmers who tried to cash in in the crypto craze. 8,989 computer geniuses who should have put their collective effort in putting more technology to the people. Well, let's be honest, not all of the scam coins are really scams. Some started legit and then got scammy when the bosses started to taste the flavor of mucho dinero. Some are also legit and then failed to deliver and got bankrupt. I mean 9 thousand computer geniuses we are talking about here. If the all bonded together they might have made something more interesting in the world of computing.

cryptoknows

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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."

didn't he tell the truth? In fact, everything is correct. Only projects with a powerful technological cushion survive, a year ago many made fortunes on shit-coins and you all know about it, of course it hit cryptocurrency hard in the face and now many people think so, but there is definitely still a large part of the truth in this. Take any project that has technology behind it, can they be called fraudulent or junk? NO! This is because they solve many problems in the cryptosphere or in everyday life, have their own blockchain, great offers for users or investors. In order not to be unfounded, let's take 2 projects as an example. Near Protocol: huge transaction speed, $ 0.01 transaction value, cross-chain between Eth-Near, huge ecosystem with a low entry threshold for developers and users, Rainbow Bridge erc20-near.
Solana: Has almost the same features and performance of the blockchain, is it really junk? NO! Therefore, people should choose the right directions for their investments and not pop on all social networks that they made huge money on shit-coin

DonFacundo

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Well I'm not surprised that the cryptocurrencies are mostly scams, he is right that 95% of them are fraudulent. Nowadays scammers can easily make a coin just to scam people, we should be careful what we invest. In coinmarketcap, the last that I saw listed coins there was around 8k and now it increased 11k so this means more and more scam coins listing in the market so be careful guys do your own research.

so98nn

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Who cares, those coins are still making lot of money for themselves and for the users too. In crypto one thing must be learnt exclusively: Proper exit strategy. The whole point here is, if we have the coins, advertisements, popularity taking heads up and what not, then people gonna come here, invest their hard earn money and market is going to move up and down accordingly.

Are they fraud? Oh yes, definitely. But they are moving anyways and peeps are getting high returns out of it. So this market will keep running whether you don't believe in it or not.

More or less, the same 95% market constitute at least 20-30% market cap of total crypto currencies. The project might be fake one, but the money real one.

terrorJR

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Quote from: ?? on ??

most new projects these days are scams. from no matter if it's a meme coin, animal coin or defi project, it's better to avoid this project. and never invest in projects with the name MOON and SAFE, such projects just copy existing projects. and you must be aware that it will end up in a scam. so it's true what OP said that 95% of crypto coins are shit.

actually it's okay if you are ready to take risks because coins like this will be very useful for you in generating finances instantly because these coins still prioritize fomo hype and pump and dump and when you are really ready to face such risks then this can be done. It's just done with a note that you have to be good at taking advantage of the momentum and be ready to lose your money because that is a risk that must be taken when you are on a coin/token line like this.
and if you want to play it safe by not taking too much risk you can use the same thing as people in crypto in general, namely by investing in the right way and not getting too carried away with the fomo and pump and dump effects.
Just being a normal person in the crypto world doesn't mean you can't get rich.
just be sure that the coins you adopt in the future will be beautiful.

jinneas

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Most projects in the crypto market go through the same process. When project tokens first appear, investors will make a lot of profits, which will attract more new users. But over time, most cryptocurrencies will become worthless and many investors will lose profits by selling the currency.
There are great risks in the crypto market. If you want to profit by investing in confidential currencies, you must have sufficient knowledge of them and analyze the project before investing, and invest in cryptocurrencies with complete technical support and safer.

Retainly_Collie

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It doesn't matter because he will still be a bitcoin user in the future, statements like these I have some doubts about its purpose. Actually, the barrier between crypto/blockchain and users is still something quite hazy.

armanhusni

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what He said is very true even though his statement does not support much, neither statistically factual nor those who are trying to make some token scam. This statement as expressed by Neil Kashkari, president of the Federal Reserve Bank of Minneapolis is very important for new traders in the crypto world to be careful when investing in choosing any coin. at least with the statement from Neil Kashkari, we are already a little wary of making investments

bryant.coleman

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Quote from: brooksby on August 23, 2021, 06:29:40 PM

How could I say you are wrong? You are of course right, but the problem is that you just don't always know for sure whether it is a good one or a bad one. Let's be honest though, that is the same in the stock market. Only a few got rich with Amazon, most of us didn't because we simply couldn't believe the book seller Bezos had in mind. So you either have some trouble with the team sometimes, or with the concept. If it's both I would skip immediately, if it is only one there is doubt coming up inside me but I still tend to give a project a chance from time to time.

LOL.. I would agree. I was in my early teens when Amazon went ahead with the IPO (1997). There were dozens of similar IPOs happening every month with NASDAQ, and no one paid any special attention to Amazon. And it should also be remembered that the vast majority of the IPOs returned a loss to the investor in the long term (i.e after the dot com bubble burst). So it was like a lottery. Similar to users investing in new cryptocurrency projects now. If you invest in 20-25 different project, one of them may provide you with 100x returns.

Topic: 95% of cryptocurrencies are fraudulent - page 4. (Read 1281 times)