Are the scam projects killing entire crypto space? - page 16.

Cult

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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

boltz

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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.

sniveling

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Fraudulent projects spoil the market, but they will not be able to kill the cryptocurrency, because nobody invests or will invest in these fraudulent projects

Coin-1

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In my opinion, the cryptocurrency community must strongly fight against fraudulent projects. Such crooks and thieves steal money from honest investors and undermine the prestige of crowd-funding campaigns. Of course, these scammers cannot "kill" the entire crypto space, but they can significantly reduce prices when they will cash out stolen coins on cryptocurrency exchanges.

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Quote from: Emperor of Man on September 28, 2019, 02:32:22 PM

Scam projects are a problem, but no, just like scam sites can't kill the whole internet, scam projects can't kill the entire crypto space.

They always existed. During all those good crypto years of 2016 and 2017 we had a lot of them, but they couldn't prevent market from doing its thing.

yes, it’s well said that the scammers were and will be, but the fact that people have become more careful, I think this is a positive trend, now companies will compete, I hope that all this will refresh the market and give a new impetus to the crypto industry

Emperor of Man

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Scam projects are a problem, but no, just like scam sites can't kill the whole internet, scam projects can't kill the entire crypto space.

They always existed. During all those good crypto years of 2016 and 2017 we had a lot of them, but they couldn't prevent market from doing its thing.

kodtycoon

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of course with the many scam projects that have sprung up will only make this industry worse, with such incidents it is certainly difficult for investors to trust every existing project. so to anticipate this problem, strict regulations will make scam projects minimized, because to eliminate scam projects is such a difficult thing in this field, but when there are stricter regulations then at least it will make investors think more wisely to support each project who really have clear goals all the time

FaucetKING

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The scam projects are diversified, the art of scam is getting bigger and bigger in the cryptocurrencies world. Companies and angel investors are searching around the clock for young projects with futuristic vision, with a product and with peoples love and support, they just invest and buy some coins/tokens.. they hold them for a moment and then, BANG! the bloody bath gets full, the sells comes from everywhere and everyone gets fooled and rekt. Crypto is getting really dangerous, take a look at all the cryptocurrencies in the last days, such a trouble we're in.

ElmedoRator

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Quote from: 19Nov16 on September 27, 2019, 06:34:10 PM

Quote from: ?? on ??

For my side yes, scam projects is killing the altcoins price even fresh coin or old coin. People were lost interest in new coin, In 2017 One coin was surged from 0.3 to 4 USD but today volume is zero. I believe in Bittrex and Binance exchange coin.

2017 is the best year for crypto, many ICOs are successful and reach hardcaps even within a month, now many are open ICO for up to 1 year but have not yet reached softcap, for now buying top coins is safer than new coins or ICOs.

Because so many projects in 2017 became scams and it made investors lose confidence in ICOs. Right now no one is stupid and invest in ICO again

19Nov16

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Quote from: ?? on ??

For my side yes, scam projects is killing the altcoins price even fresh coin or old coin. People were lost interest in new coin, In 2017 One coin was surged from 0.3 to 4 USD but today volume is zero. I believe in Bittrex and Binance exchange coin.

2017 is the best year for crypto, many ICOs are successful and reach hardcaps even within a month, now many are open ICO for up to 1 year but have not yet reached softcap, for now buying top coins is safer than new coins or ICOs.

Plecet Bank

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A technology that develops and is capable of generating great profits. I think it is very natural when utilized by the irresponsible party for making money through fraud.

This system should have very strong security to deal with fraud problems. Maybe already there but the scam is still happening and I think it will be hard to quit. Fraud has a negative impact on a crypto-to-date journey. Many investors are quitting crypto because it is experiencing a decline in trust.

Regulations must be made immediately to strengthen security. And we must be more careful in doing things in this industry.

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Quote from: FaucetKING on September 27, 2019, 05:49:53 AM

I do want to ask a question, how do you define "scam projects"?
The definitions may differ from a person to another but the only sure thing that there's a lot of newcomers here with no benefit toward the other projects neither the crypto space in general. Some projects don't have a product but you might find their market cap really high, it's unbelievable.
These "scammy" projects are gathering their value from BTC and ETH and the other highly classified tokens and coins and projects, that's why we keep struggling in the lower prices at the moment.

The scam projects are dangerous for the entire crypto space, it kills the efficiency of the crypto markets. The investors will run away from the legit projects if they face with two or three scam projects. The legit projects never get old but the scam projects come back under different brands. More than 50% of the ICOs in 2017 were scam and copy-paste of the other working projects.

robelneo

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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.

Quote

From my point of view, scam projects have taken away the glory of genuine projects.

That's not true, a true or legit project will always shine and they always find a way I have seen some good projects that escaped my radar and some projects that were considered and labeled as a scam but they there are making progress in the market.

Scam projects sad to say are here to stay, but it makes investors wiser and demanding, it's for the project now to prove that they are legit and they are very much different from the other projects around them.

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xvids

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No it isn't killing the entire crypto space,
It is just driving away the investors who couldn't spot a scam project.
And it is our fault on falling victim on their schemes and supporting them .

mickey_miner

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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 think there is nothing you can do about fraud, it has always been there in all areas. The only thing you can do is learn to recognize it.

mitchr4

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Quote from: sodiik on September 27, 2019, 03:16:02 AM

Fraud makes the crypto space increasingly dangerous. We can already feel now that many of the projects we follow do not make any money. Even from us we may not only join the Bounty project but also become investors. They also lost money from fraud on behalf of ICOS.

A regulation must be made and an audit agency capable of working well and trustworthy to be made immediately. It's very important to restore your crypto reputation for the better and get back to success.

Fraud on a scam project is not dangerous, it's just that this has an impact on the confidence of investors who are hesitant to get involved in crypto space again. I am sure from the bad story about last year's scam project can make Investors and Bounty hunters more careful to choose crypto projects that are safe and promising.

FaucetKING

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I do want to ask a question, how do you define "scam projects"?
The definitions may differ from a person to another but the only sure thing that there's a lot of newcomers here with no benefit toward the other projects neither the crypto space in general. Some projects don't have a product but you might find their market cap really high, it's unbelievable.
These "scammy" projects are gathering their value from BTC and ETH and the other highly classified tokens and coins and projects, that's why we keep struggling in the lower prices at the moment.

rdewilde

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Well I can't say scam projects are killing the crypto space because nothing can really kill this space, I rather I will say, scam projects are leaving a negative impact on this space. That is, investors finds it hard to invest and a greater number of those that invested are only interested in profit and once gotten leaves the project. Also, in a sense we are the ones giving them the power to strive though, how? Most will see a project and know that there is nothing good about it but still goes ahead to invest could be due to hype etc.

sodiik

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Fraud makes the crypto space increasingly dangerous. We can already feel now that many of the projects we follow do not make any money. Even from us we may not only join the Bounty project but also become investors. They also lost money from fraud on behalf of ICOS.

A regulation must be made and an audit agency capable of working well and trustworthy to be made immediately. It's very important to restore your crypto reputation for the better and get back to success.

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