Topic: Are the scam projects killing entire crypto space? - page 20. (Read 5841 times)
The number of fraudulent projects is many, even up to over 95%. This makes it difficult for good projects to convince investors to participate. Since many scams from ICOs happened, some governments decided to ban the use of this method to raise capital, which adversely affects good projects.
That is a fretful thing when being investor on this industry IMHO. Don't you remember when the market ICO crash and there is most investor who give a bad assessment so as they leaved ICO project to store their money for investing just because scam project? I think you should know that.
Even, I believe most countries who still have a bad view against cryptocurrency is they have known that the scammer is something which cannot be released because lack of supporting authority. But it is the time to showing to them that we can change it, we can change everything especially a bad assessment into cryptocurrency. We are the user of cryptocurrency and we have to convince that cryptocurrency is a good place for them but also we have to give a positive thing to prevent the spread of scammers.
Even, I believe most countries who still have a bad view against cryptocurrency is they have known that the scammer is something which cannot be released because lack of supporting authority. But it is the time to showing to them that we can change it, we can change everything especially a bad assessment into cryptocurrency. We are the user of cryptocurrency and we have to convince that cryptocurrency is a good place for them but also we have to give a positive thing to prevent the spread of scammers.
New projects increasingly do not have reasonable prices and end in not achieving the softcap target. the increasing number of SCAM projects, the more it will have a bad effect on new projects that really have goals and vision and mission for the future. Getting rich and making a fortune from projects now is very difficult and even impossible, it takes a long time. ICO is less attractive to investors.
In any case, those scams are harming new projects, but not the well established ones, not to mention top coins. Regarding the crypto world, don't forget that ICOs, STOs and IEOs are just a part of it, there is much more apart from that.
Yes there are too many scam projects retarding general acceptance of crypto, but IEO done on reputable exchanges for example has curbed this at token sale level. The reason why I wrote "token sale level" is because some team members might even go to the extent of doing IEO on reputable exchanges but after that do away with funds or will not use funds for project development as promised. This issue of scam is raising concerns, putting fear in investors. Regulations like you mentioned will reduce it but regulations has its own downsides. Let's hope a better solution is enacted soon.
in fact in the cryptoqurrency industry there is nothing to regulate the market, everything runs on every user. if you want regulation I think it is not a solution to reduce project fraud, because scamers always have a gap in every action. but if you want to involve the government it will only have an impact on crypto adoption and not a solution to reduce fraud.
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.
Scam projects, and everything that smells of scams is what makes crypto growth slow, even killing crypto. When it comes to ways to eliminate crypto fraud is very difficult, because crypto works in cyberspace. For fraudsters will continue to look for loopholes even with tight security to get the benefits. Back to yourself how to become a good doer in the crypto world. 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.
For new investors, they might back off, for those of us who can understand the project and previous experience, must have a strategy to return
I agree with you, but I don’t know how to stop them. Scammers are too skilled, they will always find a way to deceive people. I think that there is no way to completely get rid of them. Everyone should be able to identify the scammers himself.
I don't think so. Bitcoin will continue thriving. And before these scam projects will significantly damage the reputation of some great projects such as Bitcoin itself and a handful of altcoins, they are already dead.
I would say that most investors lose huge interest on investing in new projects but we cant say that it kills the entire crypto, only in ICOs thats why right now most projects do IEO but scammers now also do the same. 
No doubt, I agree with you totally on this, there are so many projects who are actually genuine, but due to the mentality the space has given most investors and enthusiats, people do not have enough faith in good projects and then they may eventually be seen as scam. For a project to suceeed, both parties most be in line.
That is absolutely true, scam projects in 2017-2018 killed the entire market for about 2 years but I'm glad right now that the IEO era has began and it somehow teaches investors to look deeply on the project the want to invest. Scammy/Shady projects don't raise anymore due to the fact that the investors have learned in this past 2 years.
Scam projects killed the introduction of new tokens and coins but not the entire crypto space,which is actually good thing in my opinion since we already have more than 2000 cryptos available so its overwhelming of tokens and coins if it got more and more cryptos even if its legit.
From now investors need to be very careful while investing on the new projects because chances of getting successful even with the good projects becomes very low in these days.
From now investors need to be very careful while investing on the new projects because chances of getting successful even with the good projects becomes very low in these days.
I slightly agree. We really can't avoid this type of thing because as long as money is involve, people will find a way to take advantage of it without thinking of the consequences. Greed will take over those people and those who got victimized will surely leave a bad opinion about cryptocurrency.
But I don't think the crypto space will be killed just because of this. They are worthless and doesn't mean anything in the entirety of crypto space. Bitcoin alone is enough. Bitcoins movement decides the fate of cryptocurrency in my opinion. If only those investors are smart, they would have invested in Bitcoin instead.
But I don't think the crypto space will be killed just because of this. They are worthless and doesn't mean anything in the entirety of crypto space. Bitcoin alone is enough. Bitcoins movement decides the fate of cryptocurrency in my opinion. If only those investors are smart, they would have invested in Bitcoin instead.
I see little likelihood that SCAM ICOs can fool conscious investors. However, they can scare the new investor away from the market.
Don't invest in any projects you don't know about anything. Crypto investments always full of risks.
Don't invest in any projects you don't know about anything. Crypto investments always full of risks.
The painful truth is we are losing more new investors to new projects that ends up a failure experiment or ends up a scam project, new projects are the biggest threat to crypto space entirely because failure has became their habits, too many scam projects will make crypto lack behind
Every innovation where you move without rules opens the door to all types of scams and profiteers.
On the other hand, it is precisely the lack of clarity and predictability that allows us to make even very high gains.
When the rules are clear, everything will be safer but also the gains most limited.
On the other hand, it is precisely the lack of clarity and predictability that allows us to make even very high gains.
When the rules are clear, everything will be safer but also the gains most limited.
I don't think that scam projects are killing the entire crypto space. Look at what happened in 2017. There were a lot of scams, but prices of cryptos did increase like never seen before.
I don't know if there are more or less scam projects from this year or in 2017. But in 2017, there were plenty of scam projects. And some projects didn't look like scam.
There is surely some scam projects this year too, but they are surely getting less money than in 2017.
There is more scams when the price of cryptos increase as it attracts more scammers.
I don't know if there are more or less scam projects from this year or in 2017. But in 2017, there were plenty of scam projects. And some projects didn't look like scam.
There is surely some scam projects this year too, but they are surely getting less money than in 2017.
There is more scams when the price of cryptos increase as it attracts more scammers.
Before now, I use to be a big fan of ICO and was loss to it, after much-failed project and loss of huge investment, I had to re-think my steps and withdraw from ICO projects by 98%. It's painful to see a promising project even been announced and managed by a Full Member or even a Sr Member go scamming. There are a good project with good intention by bad eggs have created unhealthy atmosphere for them.
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