Are the scam projects killing entire crypto space? - page 15.

Zeke_23

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Quote from: sapnu on October 03, 2019, 05:54:57 PM

Quote from: forexandcryptoauditor on September 13, 2019, 12:21:07 AM

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.

I don't think that is true because there are so many scam projects but still the community is alive maybe the project and the team is banned but there are no big effect on the community maybe the members of the investors are the one who are infected by the scam project and that is the thing that we should consider in investing, we should analyze better and check if the project is legit. You are the one who is responsible for your money so you should study the whitepaper of the project you want to invest in. It is very important because your own money is involved here.

Being alive of the community doesnt mean that it does not the whole community at all, it has an effect since every individual in the community was feeling down after they got scammed in a project, not affected financially but being affected emotionally, they are hoping for the seed of their hardwork.
Happily speaking, every individual in the community learned how to moved on quickly, they dont think about what happened in the past, they think of what will gonna in the future.

CHRISBIN702

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My blockchain can beat up your blockchain

I blame the enablers. Scams and scam projects wouldn't exist if we as a community were more vigilant and didn't let our greed get in the way of proper research and due diligence. I for one think scam projects are just part of life. Any industry. If there is liquidity flowing, scammers will be present. It's up to us as a community to make it harder for them to succeed.

Ailmand

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Scam project taints the whole crypto. Just look how it affected ICO. It made investors lose faith in ICOs which resulted to majority of ICO failing and legitimate and good project not gaining enough budget for project development.

Shallow

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Although I agree with you, but also I won't say they are killing the crypto space because at this level it will be hard for the crypto space to die, rather I would say they are slowing down the growth of the crypto space. We glamour for adoption but with increasing rates of scam projects etc, mass adoption will take a long time; this is what I meant by they are slowing this space down. Furthermore, from the recent upcoming projects, it is becoming clear that most developers are just repeating what is already existing, which also has its negative effect.

judeafante

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Quote from: forexandcryptoauditor on September 13, 2019, 12:21:07 AM

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.

If there's a company or group that can laid out regulation then I'm on it if we have a consensus and every one voted that we should have one then so be it, we should set up one time and see if it really works, I hope a company is reading all our post and if he has the means then set up a regulatory body here to monitor project if it is legit or not.

sapnu

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Quote from: forexandcryptoauditor on September 13, 2019, 12:21:07 AM

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.

I don't think that is true because there are so many scam projects but still the community is alive maybe the project and the team is banned but there are no big effect on the community maybe the members of the investors are the one who are infected by the scam project and that is the thing that we should consider in investing, we should analyze better and check if the project is legit. You are the one who is responsible for your money so you should study the whitepaper of the project you want to invest in. It is very important because your own money is involved here.

Aabcde

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Scam projects will not kill the space of crypto. It's like when you try buy something, there are a lot of seller offer you with different price. If you buy the cheap, maybe the quality is not good, and if you buy the expensive one, the quality almost perfect. All of the seller have their own risk.

Scam project always exist, but don't fall in twice. At least you have learned from the past to know more about crypto world. How much scam project comes from the first time till now but BTC still have demands.

Insomnia family

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I think fraud projects will always be around us or in this cryptoqurrency world, they cannot be stopped and they will grow as long as investors invest in the wrong place. at the moment I see investors starting to be smart and will not put their money in junk projects so that the crypto space will not collapse just because of a fraudulent project.

DU18

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For past few months the impact of the large number of ico scams held by the developer was really felt, so at that time, the prices of bitcoin and altcoin experienced significant price reductions as well as the loss of investor interest in investing in crypto, but I think that has been passed and now investors are starting to be active again to invest their funds in projects that are indeed implementing ieo as their sales system. ieo is now an alternative developer to sell their tokens in a transparent and honest way.

pandanaran

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as we know that fraud projects are increasingly rampant and most investors are worried about investing in ICO projects. but because IEO was present, it slightly reduced concerns about money laundering in the project. but the reality is that the fraudulent project has made many investors afraid to put money into it but not kill the entire crypto space.

cudora

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What else are they doing? They are creating negative news around the industry, which makes people fear to enter the industry. A lot of big investors are sceptical towards crypto currencies, because of such a big amount of scam projects.

trauchot

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Scam projects do not kill the cryptocurrency sphere and will never kill, because without scam projects there are honest companies that are created not for the sake of money but in order to improve our lives with the help of cryptocurrency technologies, and scam projects are usually created to simply raise money and of course it is a huge problem for investors, because they lose money by investing in scam companies, but unfortunately it’s still too difficult to find scam projects.

joinfree

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You are right but the truth is people are changing satoshi vision that is why there is so much scam around crypto space. Most people see it as get rich quick scheme. So when they are investing into project their focus is not on the project they only focus on the token but there is no way a token can get value with solid project. There is allot of shitty token without a solid project behind it. Scam are killing but investor don't do due diligent when it come to investing into crypto.

adaseb

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I don't think scam projects can kill coin like Bitcoin or Ethereum but they can result in a long bear market which is exactly what happened in first quarter of 2018. The Bitcoin futures were live and people were expecting to sell their BTC at the very least $25000 a coin and then the Bitconnect ponzi happened and later followed by the SEC investigating many ICOs. And it lead to a huge crash of most alts and especially ETH.

It brought ETH from an ATh of $1400 down to the double digits in less than a year. BTC also lost over 80% of its value due to the crash.

jcarlo

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Quote from: ?? on ??

Fraudulent projects greatly affect market growth and affect investors because they are afraid of losing their capital.
maybe the movement of Altcoin at this time is very bad because there are many fraudulent projects that make many people no longer believe it and it is very detrimental to many parties.

Scam projects will definitely influence investors in making decisions but in my opinion it will not make investors stop investing. Scams will be everywhere, including in the cryptocurrency market and to avoid this, research is an important thing to do before deciding to invest.

setialovers

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Quote from: forexandcryptoauditor on September 13, 2019, 12:21:07 AM

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.

In my opinion, the overall scam project does not disrupt the existence of the cryptocurrency market but the scam affects the confidence of investors who want to enter. The number of scams will make new investors afraid to enter the market unless there are regulations that protect it but I don't think it will disrupt what is already running

Fredomago

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Quote from: ?? on ??

Fraudulent projects greatly affect market growth and affect investors because they are afraid of harm.
maybe the movement of Altcoin at this time is very bad because there are many fraudulent projects that make many people no longer believe it and it is very detrimental.

In some point, scam projects really affects the market growth. Since they are afraid of being victimized and losing money, investors tend to invest wisely. It's no longer the time of hype where ICO's can generate hard cap and can easily pump the price of token after listing to a decent exchange. That period is already been forgotten. Right now, every step and every decision is accompanied by good research to ensure your invested money. Scam projects are there to stay but there's still good developers who deserve to be supported in order to be successful.

lobo13hf

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Quote from: Lexurdania on October 01, 2019, 06:49:51 PM

Quote from: Cult on September 28, 2019, 03:26:02 PM

Quote from: Baby Dragon on September 13, 2019, 12:54:32 AM

Quote from: danherbias07 on September 13, 2019, 12:28:52 AM

Yes that is true but this kind of news is kind of expired by now.

Those scammers have done it a year ago and they had been successful.
Now, there is not much people who really want to risk a lot to new projects and it is hurting them. But the old ones are still on going. Bitcoin is one example of it.
Not all will be affected by it anymore.

Its indeed has a huge impact on people, it makes them more afraid because of what they had experienced and we can't blame them because it happens on most of us too. Most of them are not willing anymore because they think they are falling again into some sort of scam, you can literally find them everywhere and that is the reason why we need to be very aware and careful.

Yes, scam projects scared many, alarmed, many lost a lot of money, someone even took loans, all this was postponed, and also leaves a mark in the minds of investors

Every scam project damages investor confidence and of course this is bad for the cryptocurrency market in the future. Trust is important in the investment world, many scam projects hinder the entry of new investors and will certainly affect the price and market cap value

But this time the important thing is how the market can recover the trust that already lost caused by various scam projects. These scam projects are hurting cryptocurrency.
IEO has significantly decreased the total of the scam project.
I hope that more and more good exchange sites will come soon.
Market needs more investors again.

Lexurdania

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Quote from: Cult on September 28, 2019, 03:26:02 PM

Quote from: Baby Dragon on September 13, 2019, 12:54:32 AM

Quote from: danherbias07 on September 13, 2019, 12:28:52 AM

Yes that is true but this kind of news is kind of expired by now.

Those scammers have done it a year ago and they had been successful.
Now, there is not much people who really want to risk a lot to new projects and it is hurting them. But the old ones are still on going. Bitcoin is one example of it.
Not all will be affected by it anymore.

Its indeed has a huge impact on people, it makes them more afraid because of what they had experienced and we can't blame them because it happens on most of us too. Most of them are not willing anymore because they think they are falling again into some sort of scam, you can literally find them everywhere and that is the reason why we need to be very aware and careful.

Yes, scam projects scared many, alarmed, many lost a lot of money, someone even took loans, all this was postponed, and also leaves a mark in the minds of investors

Every scam project damages investor confidence and of course this is bad for the cryptocurrency market in the future. Trust is important in the investment world, many scam projects hinder the entry of new investors and will certainly affect the price and market cap value

pungopete468

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Quote from: boltz on September 28, 2019, 03:12:33 PM

Scam projects are not killing the entire crypto space but they are killing some projects for sure and they scare the investors from trying to find those gems who can bring awesome profits to them. Even wales are not trowing money like they did some years ago into new projects and this is another reason why ICO's have not been successful in 2019 and 2020 looks the same from this point of view.
I think after the next bull run , scammers will get caught with more ease than they are currently now so this is a good feature I'm looking into. I still remember bitstake from 2015 ...lost some good money there.

The existence of fraud projeck indeed makes the level of trust and also people when seeing cryptocurrency becomes negative because of the majority of projects that aim to deceive. we as people who understand cryptocurrency must be more careful in finding projects and providing education to many people

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