Topic: Are the scam projects killing entire crypto space? (Read 5767 times)
i think not entire industries of crypto got killed, in some way it really made people aware of bad things in this scope such as BAD ICO , BAD IEO moreover with such BAD EXCHANGE. The impact surely will be remembered as experienced by many crypto enthusiasts. But the good thing is people learn that scam is everywhere and never let our guard down for it. Since many scam project goes around, even I ever get in touch with it. So let assume this as our journey in crypto space.
I guess so because with those recent scam cases that involve many projects related to cryptocurrency, it truly affects the industry im a sense that it makes the credibility, reliability as well as the impression bad to the public because many people are being traumatized and now afraid to get engage into cryptocurrency due to those cases. It also made a bad generalization that all projects which promotes new crypto are scam which is not true because there are still lots of projects that are promising, do have the potential as well as reliable and credible. Due to that generalization, the whole industry is being affected because potential investors are being afraid to invest into cryptocurrency which decreases the demand volume making the price to turn down resulting to the declination of prices.
From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Kissing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
Yes, many projects currently do not run based on the roadmap they have written. They only write for completeness. In fact, almost one year later missed their roadmap. Actually, the characteristics of fraud projects are easily known. For example, they often change project rules, change the name of the token or coin often.Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Kissing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
This is a very controversial issue. There is fraud in the cryptocurrency markets. But aren't there scams in normal markets? I think this situation should be investigated better. People can be fooled in both markets.
Right, but what we have to realize is that fraudsters are everywhere, both in the normal market and in the digital currency market, and that's why we all must always be more careful in dealing with things. from every side, fraudulent projects almost killed the entire cryptoqurrency space including project investor confidence. actually not only now, but fraud projects have existed since then and still continue today. we can't eliminate it completely but we can still avoid it by not participating in suspicious projects.
Scams are not going to kill the market of cryptocurrencies what it is going to happen is that the scams are going to kill the market of icos and any other similar market that emerges in the future.And while that is a shame since there are talented developers out there that could make use of our support if they are really smart then they will need to find a way to profit from their idea without the need to have to create an ico just like satoshi did when he created bitcoin.
Now everyone is investing in IEO using exchanges as a guarantor on both sides. On the one hand, guarantees for investors; on the other, guarantees for the exchange.
Scammers can only carry out ICO or IEO on little-known exchanges, those who invest in a similar one are the culprit of their problems, but this is not widespread.
So I do not think that scam projects now have a big impact on the market.
Scammers can only carry out ICO or IEO on little-known exchanges, those who invest in a similar one are the culprit of their problems, but this is not widespread.
So I do not think that scam projects now have a big impact on the market.
This is a very controversial issue. There is fraud in the cryptocurrency markets. But aren't there scams in normal markets? I think this situation should be investigated better. People can be fooled in both markets.
From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
Getting run of top coin like Bitcoin and Ethereum will change mind of investor. New investor can't invest directly in new projects, Bitcoin or top coin help there. After short supply of Bitcoin and Ethereum could change the market situation. After 2018 people don't invest in any scam project that's how market will kill scam project. Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
Of course you would agree with me that 98% of the projects are scam, I mean most of them kick start a project without inadequate plan on ground so it gets to a point where they run out of ideas and they are left with no option than to exit scam.
Scam projects have indeed damaged and nearly killed many legitimate cryptocurrencies. The entire crypto space has been affected even though it will never be “killed” by these.
Not only cryptocurrencies themselves, but the whole environment which has significant problems with advertising - even though you are 100% legitimate business. Or alternatively - some companies related to processing payments regard any crypto business in the same category as gambling.
Fraudsters operate on the cryptocurrency market according to a pre-planned plan, as a result of which all investments that investors transfer to their fraudulent project are withdrawn into fiat funds. Thus, the cryptocurrency market leaves significant financial volumes, and in fact the absence of fraudsters in the market or at least three tight controls by the developers of new projects from the control structures, all these funds could be beneficial not only for the development of specific promising projects, but also for the benefit the entire cryptocurrency market. It’s even hard to imagine how much over the period of 2017 and 2018, scammers stole money and removed it from the cryptocurrency space.
From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.
You are very right. With the rate of scam projects around, it's scary at times to invest, notwithstanding, one has to take the risk, just incase the project turns out not to be a scam. The only advice I always encourage people to adapt when it comes to issues like this is for everyone not to be greedy. Dont invest more than you can afford to lose. That way, even if you lose your money, you are still up and running because all tour eggs are not in a basket
The only way to stop scams is to stop investing in them and warning as many people as you can via the usual methods like the scam section of this forum and through telegram groups etc. and this will help inform those who aren't aware of these illegitimate projects
I think stop SCAMS is totally will never possible but your suggested ways are very effective if we able to warn in everywhere before investment. Another things is actually a lot of brightest projects can be SCAM any time you can't predict before your investment. Many people's trying to warning in the scam accusation thread. Telegram groups cannot reach each and every single people.
Scam projects have indeed damaged and nearly killed many legitimate cryptocurrencies. The entire crypto space has been affected even though it will never be “killed” by these. There are many well-informed and powerful persons and well-established companies that have committed themselves to the blockchain. However, 2019 saw the least amount of money that went to ICOs. Nevertheless, a lot of big companies have already begun investing heavily in blockchain. Crypto will never be dead as long as there will be people who are well aware of the schemes of scammers. we found this ADN blog very helpful in verifying the legitimacy of any ICO.
There are more and more scammers and greedy people in the crypto space, and there are fewer gullible investors. There are fewer completely new ideas with a real program.The investor needs to work hard that to find a strong and honest team.
Yes, and the very difficult thing is to find a strong and honest team in crypto, because everyone involved in crypto is looking to make the most profit.
scam project is indirectly very killing because it can have a bad effect on crypto, especially if the victim comes from an enthusiastic investor who wants to study investment, there clearly it will give a high distrust effect especially if the scammer manages to take millions of dollars from investor money.
Scam projects really affect the entire crypto space, say the majority of these projects since most turn out to be not profitable and fraud. But not all projects are a scam, there projects that really stand out, the example is the major top coins. Though there are more bad eggs from the o good ones, still there are investors willing to support a good project.
scam project is indirectly very killing because it can have a bad effect on crypto, especially if the victim comes from an enthusiastic investor who wants to study investment, there clearly it will give a high distrust effect especially if the scammer manages to take millions of dollars from investor money.
Definitely Yes.
All are wasted because of scam projects. Money, Time, Effort, Resources, Skills, Talents and More!
Also there are destroying the following: Reputation, Trust, Confidence, Hope and Future.
We must stand against those people who are really intend to scam people. If we stand together, I think there will be hope and a future.
All are wasted because of scam projects. Money, Time, Effort, Resources, Skills, Talents and More!
Also there are destroying the following: Reputation, Trust, Confidence, Hope and Future.
We must stand against those people who are really intend to scam people. If we stand together, I think there will be hope and a future.
yes. The fraud project has killed the entire cryptoqurrency space and reflects a bad image on the ICO project. investors have now lost confidence again and not many are taking part in the ico project anymore. Today's investors prefer to invest with crypto rather than with the ico project.
It is no news that scammers are killing crypto space. Crypto space has lost it value as a result of so many scam activities that have spread all over the crypto space from Dev to managers and also to hunters. The only way to reduce scam is not to fall victim of it.
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