Topic: 95% of cryptocurrencies are fraudulent - page 7. (Read 1372 times)
You are saying right brother. Now a days their are thousand of coins that are in the crypto market. And most of them are garbage coins. And it is very difficult to decide which coin is a good coin for holding or not. It is very confusing for the newbies. New projects are coming day by day. But new projects coins are not good for big investment. Just invest small amount on these project. Invest big amount in the top coins of crypto market.
Yes, most coins don't have a high selling price at all, sometimes even a low price. And this is what makes us even more lazy to monitor altcoin price charts. And so many coins that I have now in fact there is no price at all in the market. Really frustrating.
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but not if you invest your money in the top altcoins in the crypto market. especially if you buy it in 2020, I mean before the beginning of January 2021, then today you can get good profits. I have also pocketed several altcoins at low prices, especially ETH, BNB, SOLANA, MATIC, AXS and now enjoying the results. .
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."
99% of penny stocks are garbage too and most start up businesses fail. Do your research and find the gems like $MAGIC on Fantom and $NEAR. 
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."
He has a basis for saying that, we have a history of coins getting launch and going nowhere and developers running away with investor's money, we have so many coins in our forum's announcement section and scam section, so many investors lose money not in hundreds of thousands of dollars but in millions because scammers from other industries have migrated here and brought their talent and expertise to scam people.
You have to be knowledgeable and good at scrutinizing every project that you are interested in investing in if you want to make a profit.
I quite agree that there are a lot of scam coins today, but I don’t think that 95% of crypto is fraud. There are projects and coins that really offer innovative solutions. Some can offer entertainment (NFT-gaming) , some can replace banks (DEXes).
On the other hand, it doesn’t matter if it is a scam or not. Crypto market gives me money, so even if it is fraud, I can make money on it now.
On the other hand, it doesn’t matter if it is a scam or not. Crypto market gives me money, so even if it is fraud, I can make money on it now.
This isn't far from the truth. The cryptocurrency market is filled with a lot of altcoins that are shitcoins by every sense of it, they do not offer any real value and are created by teams of people who are mainly just looking to take advantage of less informed investors to make money.
I believe some sort of public opensource trustless vetting process should be created for screening cryptocurrency projects for vulnerability and each project should be rated on their value to the decentralized market
I believe some sort of public opensource trustless vetting process should be created for screening cryptocurrency projects for vulnerability and each project should be rated on their value to the decentralized market
it's true what you say that the Coins currently listed on Marketcap 9001 clearly proves that there are 95% of them are useless coins and don't gain volume in trading so they can't do more and there are many other tokens on some other platforms that are not listed and this will continue to grow.
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."
Why does this happen? Of course this is our question in crypto now. I think all this is due to the ease of creating new crypto, especially crypto based on smart contracts. Everyone can make it, and it doesn't take much capital to promote it. Those who create this kind of crypto are only looking for profit rather than investors. Most of them leave while the project is being worked on. There are probably a lot of new examples today that I can't possibly mention about them.
Well your right it's obvious to know which of them are totally fraudulent but don't think about allmost all of them since there good ones running maybe at this current era maybe I can say 20% are now good coins to choose with just don't choose a coin or token which is rank below 200 at the market rank since most of them are risky ones and I mostly choose those top coins so that I can assure that I'm safe from rug pull schemes tokens created by scam Devs.
not all cryptocurrency is a scam, many still have a selling value altcoin is very appropriate for the investment you may lose a lot of money so don't trust it too much so that it makes you suffer a lot of big losses cryptocurrency has many benefits the most interesting cryptocurrency is where many people invest cryptocurrency It's something interesting that a lot of people have already stepped in and invested in.
not all, but most 
it depends from which point of view we see it. there are projects that are actually created to address real-life problems, some are created just for the sake of making a quick profit, then development stalls and disappears, and some are created to deceive investors with falsehoods.
we must know the risks, do not fomo, do not be greedy. get involved if you really believe the project has strong support. but this is very difficult, because there are many fake projects popping up every day. the key is to use free funds that if it is lost you can still prosper.
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."
Why does this happen? Of course this is our question in crypto now. I think all this is due to the ease of creating new crypto, especially crypto based on smart contracts. Everyone can make it, and it doesn't take much capital to promote it. Those who create this kind of crypto are only looking for profit rather than investors. Most of them leave while the project is being worked on. There are probably a lot of new examples today that I can't possibly mention about them.
not all cryptocurrency is a scam, many still have a selling value altcoin is very appropriate for the investment you may lose a lot of money so don't trust it too much so that it makes you suffer a lot of big losses cryptocurrency has many benefits the most interesting cryptocurrency is where many people invest cryptocurrency It's something interesting that a lot of people have already stepped in and invested in.
95 percent can not be even near to exact and it depends on what exactly do you mean by fraudulent. So many cryptocurrencies are made by people who are controlling the price and by doing some price manipulations they can scam people indirectly. However, that's not happening for any project. For example, there are many cryptocurrency projects on the internet promising users stable coins while they will not even reach the real price and they are not even backed by anything, so after just a few months, the price will collapse and the coin/token will be delisted from exchanges while people are losing their hard-handed money they investing on it.
If you are talking about copycats and shitcoins, then I would say that more 99% of the cryptocurrencies fall to this category. Out of the 10,000 to 15,000 cryptocurrencies ever created, only around 100-150 can be considered as genuine. Even some of the top-50 cryptos, such as TRX have been accused of plagiarism from the existing projects. And look at the recent projects (2020/21). The vast majority of them are just copycats. In many cases the developers don't even try to hide the plagiarism.
Yes, most coins don't have a high selling price at all, sometimes even a low price. And this is what makes us even more lazy to monitor altcoin price charts. And so many coins that I have now in fact there is no price at all in the market. Really frustrating.
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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."
He was saying the truth. I mean more than 95% of the coins in the market are just useless coins that are made for pumping and dumping or scamming people. Good thing he is making people aware of those shitcoins that is circulating the market. Now people will do proper analysis of the coins before investing in anything. Just because he was speaking against those scam coin doesn't make him a bad person. But yeah, some people might think all coins are same.
He is right though his statement is not backed with factual statistics. At least the good news is that some coins make sense and actually solve problems/useful. The statement is especially important for newbies in the crypto world to take caution when investing in any choice of coin/token. Being aware that your funds are at risk is important. Ensuring that you only invest what you are prepared to lose - don't put all your eggs in one basket: a common but very important investment strategy that should be applied at all times especially in crypto currency investment.
I am sure that you mean by this in this media link:
https://www.barrons.com/articles/feds-neel-kashkari-says-crypto-is-95-fraud-hype-noise-and-confusion-51629286755?refsec=cryptocurrencies
Many people are trapped in the cycle of new hype coins that are leading to be shitcoins.
Well, actually, they may be garbage coins.
However, actually, we can utilize them to take profits, but not for a long-term investment. Because that kind of coin will not work for long-term investment. This is likely an instant way to take profits if we know the gap or the ways with the right strategy to buy and sell at the right time so that we can earn profit. big profit.s
But unfortunately, not all people are in this step. Many are only following that hype and then belong to shitcoins only.
https://www.barrons.com/articles/feds-neel-kashkari-says-crypto-is-95-fraud-hype-noise-and-confusion-51629286755?refsec=cryptocurrencies
Quote
Crypto Is ‘95% Fraud, Hype, Noise, and Confusion,’ Fed’s Kashkari Says
Well, maybe he is right because almost every day there will be always creating the new token. And every year or moment there will be new hype and Ponzi scheme again. Many people are trapped in the cycle of new hype coins that are leading to be shitcoins.
Well, actually, they may be garbage coins.
However, actually, we can utilize them to take profits, but not for a long-term investment. Because that kind of coin will not work for long-term investment. This is likely an instant way to take profits if we know the gap or the ways with the right strategy to buy and sell at the right time so that we can earn profit. big profit.s
But unfortunately, not all people are in this step. Many are only following that hype and then belong to shitcoins only.
The number of tokens listed on coinmarketcap reaches 8000 types and I think the statement that 95% is a scam could be true. Coins that actually have projects that produce only a few products and this can be seen from the daily transaction value and also the marketcap value. The most important thing for investors is to always do research before investing to avoid pump and dump projects
Truth be told, he's actually right, the amount of worthless tokens that have been created since the invention of smart contract is way more than the amount of tokens that actually have values, those valueless tokens were all created by scammers anyway, but that shouldn't stop them from adopting cryptocurrencies, but I'm not surprised he's more bothered about shitcoins and forgot to look at the top 100 cryptocurrencies,they always find the bad side of everything and close their eyes to anything positive.
Although his opinion is right but only shows the bad side of crypto in public, he forgot Bitcoin and other top coins were not mentioned in his speech and maybe he just gave a speech with the topic title "shit coins", I believe this effort will not succeed in bringing down the crypto market, the market crypto will continue to be solid and unaffected for such news. 
his opinion was not totally wrong at all. The problem is the token issuance was so easy to be used by the scammers and spammers of the network. So many scammers were creating more and more nonsense coins every day. that were flooding the crypto market. that's why some people have been calling only a few percent of crypto were totally legit and it can be used for anyone.
A few years ago crypto was not so popular like this time even the game called axie has a few users in 2018. That being said that if crypto totally decentralized ecosystem and what we can do to be careful with any garbage tokens released in the market.
A few years ago crypto was not so popular like this time even the game called axie has a few users in 2018. That being said that if crypto totally decentralized ecosystem and what we can do to be careful with any garbage tokens released in the market.
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