Are most Altcoins with little or No presence shit.

adzino

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Quote from: BayAngelo on July 01, 2020, 04:25:03 AM

i came across a post on medium about Energi project that fought very very hard to recover their funds that was stolen by a crypto scammer on discord. i think the guy worked with them but looted their account and disappeared Or he stole a huge amount of token form the project using his tricky method.
The point here is that the energi team went into investigation to crack down the scammer and they made a tremendous success discovering the scammer. the energi project i believe are into cybersecurity as part of their project.

So, the post made a huge point that most altcoins we see today are really good BUT it is unfortunate, they fell into the wrong hands of scammers that might post as good guys but have a devlish intention just like the scammer. some young projects disappeared not as a result of funds or activities but are affected by scams. most project died down when the people they trusted and believed to built a solid project suddenly turn to devil.
BUT this does not mean that scam project does not exit, they do. HONESTLY, There are projects out there with 100% intention to rob you but not all.
Some are good but fall during the process and has no option than to pull out.

for those interest, you can read up the post. i found it interesting.
https://medium.com/energi/chasing-down-discords-biggest-crypto-scammer-cf74436ee3e2

Lol, probably the one who ran away with the money already knew that they were going to scam investors funds, so he double-crossed them and took the money for themselves. One hilarious story it would be. Again, this is might be scripted, who knows...
Again, they work for a cyber security but couldn't even secure their own funds. What a sad team.

dothebeats

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That's why one should never blindly trust projects that came out of nowhere. Dig deeper on who runs the stage and look further for what they are really planning to do with their cryptocurrencies. Perhaps 99% of those projects really have a pure intention to rob you, so that's why everyone should be cautious on everything crypto-related. That's the point why most people are still into altcoins: because it's the face of cryptocurrencies where most nefarious things can be done and they can easily get away with it. Even if that's your team member or not, the place is teeming with low-life scumbags that will do anything to get money, so you should really do a full cred check before doing a project like this.

bttmember

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Quote from: BayAngelo on July 01, 2020, 04:25:03 AM

i came across a post on medium about Energi project that fought very very hard to recover their funds that was stolen by a crypto scammer on discord. i think the guy worked with them but looted their account and disappeared Or he stole a huge amount of token form the project using his tricky method.
The point here is that the energi team went into investigation to crack down the scammer and they made a tremendous success discovering the scammer. the energi project i believe are into cybersecurity as part of their project.

So, the post made a huge point that most altcoins we see today are really good BUT it is unfortunate, they fell into the wrong hands of scammers that might post as good guys but have a devlish intention just like the scammer. some young projects disappeared not as a result of funds or activities but are affected by scams. most project died down when the people they trusted and believed to built a solid project suddenly turn to devil.
BUT this does not mean that scam project does not exit, they do. HONESTLY, There are projects out there with 100% intention to rob you but not all.
Some are good but fall during the process and has no option than to pull out.

for those interest, you can read up the post. i found it interesting.
https://medium.com/energi/chasing-down-discords-biggest-crypto-scammer-cf74436ee3e2

Every project has its own circumstances, some projects and their teams are really good but they get trapped due to scammers/hackers or fraudsters which can give the project a bad name.
Also a bad team member can also prove to be an unfortunate thing for the project and their community but strong projects do come back stronger i have seen such things happening to many projects.

unusualfacts30

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Quote from: BayAngelo on July 01, 2020, 04:25:03 AM

i came across a post on medium about Energi project that fought very very hard to recover their funds that was stolen by a crypto scammer on discord. i think the guy worked with them but looted their account and disappeared Or he stole a huge amount of token form the project using his tricky method.
The point here is that the energi team went into investigation to crack down the scammer and they made a tremendous success discovering the scammer. the energi project i believe are into cybersecurity as part of their project.

So, the post made a huge point that most altcoins we see today are really good BUT it is unfortunate, they fell into the wrong hands of scammers that might post as good guys but have a devlish intention just like the scammer. some young projects disappeared not as a result of funds or activities but are affected by scams. most project died down when the people they trusted and believed to built a solid project suddenly turn to devil.
BUT this does not mean that scam project does not exit, they do. HONESTLY, There are projects out there with 100% intention to rob you but not all.
Some are good but fall during the process and has no option than to pull out.

for those interest, you can read up the post. i found it interesting.
https://medium.com/energi/chasing-down-discords-biggest-crypto-scammer-cf74436ee3e2

If its something that happened to a project they should try to get it back in any way they can. Anybody who is listing a product should be responsible and only get responsible people in their team. It happens that sometimes greed takes over and someone can backstab but it is rare and unfortunately it is common in crypto world.

Eco_111

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It's the team responsibility to get the stolen fund back since it's been stolen by one of their team member and get him or her arrested for betraying the team and the project, if this happens I would blame the CEO is he/she is responsible for gathering the team members, you don't just pick random people up to be part of your team

Coyster

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Quote from: mersal on July 01, 2020, 10:32:16 AM

Project team should know each other well before commit themselves into a new projects, if they are doing with some random person found on internet then these things will happen.

Every mate in the project team may not know each other well, since it's possible for more that one developers to meet over the internet and share ideas of creating a coin, but what the developers involved should do is making it impossible that one of them can move the funds or tokens out without the signatures (or whatever will indicate consent) of the others. It's a norm in any business thats not a sole proprietorship but partnership, if the project team cannot prevent the possibility of this happening, I'd also call it a shitcoin.

Quote from: judeafante on July 01, 2020, 10:48:06 AM

investors will consider them in connivance with the scammers.

The project team can also move the funds or tokens out and claim that it was a scammer who stole from them, the investors cannot think otherwise, because that's an easy way for them to scam and shift the blame away.

RealMalatesta

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Not all of them are shit, but depends on what you call shit as well. I feel like shit coins are the ones that turn out to be either a scam or just people who leave the project to itself, that is the shitcoin in my definition. There are some with little to no presence that happened to be like that even though the team works on it.

For example, there is XSPEC, I like that coins team and they are bunch of awesome people, they are working hard on it, they keep doing new stuff, they are trying to bring people to the team and work on it, yet they fail and it is still a small and ignored one, this doesn't mean they are a shit coin to me, they are not shit, but they are also not successful neither. So, not all failure of a coin is a shit one to me, but that could be different to every persons idea.

judeafante

sr. member

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The title is very much different from your content but anyway if they got rob by one of their team it's their duty to be transparent and to prosecute and catch their scammer colleague because the money is only entrusted to them by their investors with the promise of profit, investors will consider them in connivance with the scammers.

mersal

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Project team should know each other well before commit themselves into a new projects, if they are doing with some random person found on internet then these things will happen.Scam happens to the project team as well that is why people lost their trust on new projects and why we need new projects again? Just go with existing ones guys.

Alert31

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Quote from: BayAngelo on July 01, 2020, 04:25:03 AM

i came across a post on medium about Energi project that fought very very hard to recover their funds that was stolen by a crypto scammer on discord. i think the guy worked with them but looted their account and disappeared Or he stole a huge amount of token form the project using his tricky method.
The point here is that the energi team went into investigation to crack down the scammer and they made a tremendous success discovering the scammer. the energi project i believe are into cybersecurity as part of their project.

So, the post made a huge point that most altcoins we see today are really good BUT it is unfortunate, they fell into the wrong hands of scammers that might post as good guys but have a devlish intention just like the scammer. some young projects disappeared not as a result of funds or activities but are affected by scams. most project died down when the people they trusted and believed to built a solid project suddenly turn to devil.
BUT this does not mean that scam project does not exit, they do. HONESTLY, There are projects out there with 100% intention to rob you but not all.
Some are good but fall during the process and has no option than to pull out.

for those interest, you can read up the post. i found it interesting.
https://medium.com/energi/chasing-down-discords-biggest-crypto-scammer-cf74436ee3e2

That is the problem in cryto world and most problem of every project because once you put up a project and buid a team,you should have trust to them but the problem sometimes the people you trust has a different intention in your project especially in terms of money. Project are used to gain money from investors and money is like a fire in the eyes of those hungry evil minded people that's why they broke the trust of their team mates and scam them. But not all project failed because of scam reason...some of them did not succeed because of lack of effective marketing strategy and the foundation of the project is not really good,what i mean is no proper goal to achieve that's why they can't attract investors to invest to their project.

Furryball

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Quote from: BayAngelo on July 01, 2020, 04:25:03 AM

i came across a post on medium about Energi project that fought very very hard to recover their funds that was stolen by a crypto scammer on discord. i think the guy worked with them but looted their account and disappeared Or he stole a huge amount of token form the project using his tricky method.
The point here is that the energi team went into investigation to crack down the scammer and they made a tremendous success discovering the scammer. the energi project i believe are into cybersecurity as part of their project.

So, the post made a huge point that most altcoins we see today are really good BUT it is unfortunate, they fell into the wrong hands of scammers that might post as good guys but have a devlish intention just like the scammer. some young projects disappeared not as a result of funds or activities but are affected by scams. most project died down when the people they trusted and believed to built a solid project suddenly turn to devil.
BUT this does not mean that scam project does not exit, they do. HONESTLY, There are projects out there with 100% intention to rob you but not all.
Some are good but fall during the process and has no option than to pull out.

for those interest, you can read up the post. i found it interesting.
https://medium.com/energi/chasing-down-discords-biggest-crypto-scammer-cf74436ee3e2

You are talking about the use case of the projects? Yes every use case are good but some don't belong on the blockchain, for example I came across dogdata project that has something to do with keeping dog data, please tell me what this is doing on blockchain, you expect people to buy this token to keep their dog data?

FireBallex

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Many new projects in crypto space had the intent of scamming right from the beginning but some just stop working because of a problem within, might be betrayal, hacks, or other, not all dead projects scam people

ethereumhunter

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The project is like a business, and the business owner needs to have a responsibility to their business and needs to keep things up even if they will have a problem such as a dump from their investor or participants or even the scammers and the hackers that will be there. If the developer and the teams can not manage that, their project will not stay for a long time, but it will end in a short time. So if they want to survive for a long time, they need to serious with their project and keep trying to do anything to make sure their project will run.

Ryushin

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Of course, if Energi died due to the hack which was an inside job this doesn't mean Energi is a bad or scam project, unfortunate turn has killed many good projects in crypto space that's why it's bad to depend on a single altcoin project because anything can happen

btc_angela

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Quote from: rehash on July 01, 2020, 05:15:42 AM

It is project's responsibility to not fall into scammer's hands and also to have a good media presence. Good ideas and good intentions are not enough to succeed.

I agree that the project itself has the full responsibility here, I'm not siding with the scammers, but we all know that crypto sphere is known to have a lot, just waiting for the perfect time to loot and steal everything. So the project needs to be very vigilant and should look for every loophole in their code that can be exploited. They should have thoroughly tested their dapps and be really on top of their game. As scammers and hackers seems to be always one step of the game here. Developers should also be on alert and not to rest so that those loopholes and exploits could be patch before someone attacks them.

rainingbitcoins

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when talking about the altcoin problem, it can be said that every new project in the future it certainly has its own potential. because a lot of the crypto currencies today are still not very valid for transactions directly on real media. only a portion of altcoin can be used directly. maybe for the next few years there will be many projects doing altcoin transactions in the real world.

tiang_tower

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Quote from: rehash on July 01, 2020, 05:15:42 AM

It is project's responsibility to not fall into scammer's hands and also to have a good media presence. Good ideas and good intentions are not enough to succeed.

Yes, and good cooperation partners are also very much needed for the strength of the project financially and the strength of the project in its basic foundation, because it is very clear that for the time being a good idea will not be interesting anymore in a project.

rehash

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It is project's responsibility to not fall into scammer's hands and also to have a good media presence. Good ideas and good intentions are not enough to succeed.

BayAngelo

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i came across a post on medium about Energi project that fought very very hard to recover their funds that was stolen by a crypto scammer on discord. i think the guy worked with them but looted their account and disappeared Or he stole a huge amount of token form the project using his tricky method.
The point here is that the energi team went into investigation to crack down the scammer and they made a tremendous success discovering the scammer. the energi project i believe are into cybersecurity as part of their project.

So, the post made a huge point that most altcoins we see today are really good BUT it is unfortunate, they fell into the wrong hands of scammers that might post as good guys but have a devlish intention just like the scammer. some young projects disappeared not as a result of funds or activities but are affected by scams. most project died down when the people they trusted and believed to built a solid project suddenly turn to devil.
BUT this does not mean that scam project does not exit, they do. HONESTLY, There are projects out there with 100% intention to rob you but not all.
Some are good but fall during the process and has no option than to pull out.

for those interest, you can read up the post. i found it interesting.
https://medium.com/energi/chasing-down-discords-biggest-crypto-scammer-cf74436ee3e2

Topic: Are most Altcoins with little or No presence shit. (Read 184 times)