Are the scam projects killing entire crypto space? - page 4.

mr_random

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Quote from: smyslov on December 24, 2019, 05:41:46 AM

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.

The biggest question is who will regulate it and how it's going to be regulated, remember IEO's are regulated by exchanges and they are being screened and they are paying a listing fee to prove that they are legit but the majority of the coins are not doing good in the market if we give one company to do this for us, how can we be sure that they are not going to accept bribe and connive with these projects.

I don't think bribery and corruption will be a problem on the governmental level regulative authorities, at least we will know the address in case of facing fraudulent projects. This alone doesn't prove the paid fee will protect the investment funds, everyone should accept the investment decisions based on the research, analyze.

smyslov

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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.

The biggest question is who will regulate it and how it's going to be regulated, remember IEO's are regulated by exchanges and they are being screened and they are paying a listing fee to prove that they are legit but the majority of the coins are not doing good in the market if we give one company to do this for us, how can we be sure that they are not going to accept bribe and connive with these projects.

Jpt

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Obviously, scam projects are killing entire crypto industry, thus discouraging investors and bounty hunters. Regulatory measures will certainly help retain the glory of cryptocurrency by eliminating and discouraging scam projects. Similarly, bounty managers can play their role in this regard. They know much about which projects are legit or scam.

StephenieDuong

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Scam project is bad for crypto, but i dont think it a factor that can kill crypto. I know there are lots of scam project and make lots of investors lost their money, but only with 1 or more successful project, people will believe more in crypto. So dont too worry about scam project, keep research before invest anything to avoid scam project.

TheClownSong

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Quote from: Dangki01021991 on December 24, 2019, 02:55:49 AM

Around cryptocurrencies, there are a lot of scams that have greatly affected people's psychology and especially investors who don't believe in new projects anymore. The day became very difficult to find the legality of the project

Directly, investors will be psychologically affected because it involves trust in the cryptocurrency market and maybe they will justify the negative news about crypto that has been circulating so far. If left unchecked, scammers will have a negative effect on the cryptocurrency market because in investment, trust is the main thing

Dangki01021991

newbie

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Around cryptocurrencies, there are a lot of scams that have greatly affected people's psychology and especially investors who don't believe in new projects anymore. The day became very difficult to find the legality of the project

KillerInk

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I have the same thoughts as you, because the cryptocurrency market is currently extremely dangerous due to the ubiquitous phishing projects. We should be looking for more ways to combat scam projects or they will kill the entire cryptocurrency space Angry

Whilemost

newbie

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Given the dangers of fraudulent projects, the cryptocurrency market and the entire space are currently seriously affected. It has taken away the glory of other genuine projects and needs to be removed as soon as possible.

traducteurTor

newbie

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Phishing projects are on the rise. They have done a lot of harm, killing the entire cryptocurrency space, making investors lose confidence in this potential market.

Magkirap

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Quote from: starblocks on December 24, 2019, 02:01:18 AM

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

Yes a thread or discussion about scams that lurks the internet can help all of us to avoid scam projects but we can't just rely on that for not all of your questions can be found in those things, we should learn how to analyze a project, how to do some research about it so that we can figure out if the project will be a good ome and not a scam one. Knowledge is power and the only thing that we can trust here in crypto space is ourselves so making ourselves better is a must.

starblocks

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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

Coroline

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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.

need strict action if they advertise ico on this forum so what I mean is the controller or staff who judge whether the project is real or fake but I think they already have many ways to fool people and I agree what you say will make people doubt invest in ico, and the only way is IEO where the project makes sales by collaborating with reputable exchanges such as biance maybe or with a good reputation

setialovers

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Quote from: Kiefner on December 23, 2019, 06:28:34 PM

They definitely mislead new investors, but in general I don't think the scammers are killing the glory of the good projects. They just became part of this market, but really promising projects still have a chance.

Perhaps overall, scam projects do not stop good projects but affect investor confidence in investing in new projects. At present, many investors feel traumatized investing in new projects for fear of being exposed to scams and indirectly this impedes the development of cryptocurrency

Kiefner

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They definitely mislead new investors, but in general I don't think the scammers are killing the glory of the good projects. They just became part of this market, but really promising projects still have a chance.

meliodas

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Quote from: letyouearn on December 19, 2019, 01:07:48 PM

Good strong altcoin season will make the situation better, regulation will change it, but the process is too slow, it will take few years. Now there too many scams just because ICO teams find it to hard to succeed without scamming people.

The scam ICO teams don't want their ICO project to succeed, they all just want to scam people. We don't need a strong altcoin season to make the situation of bad cryptocurrency image better, we need a good regulation for the cryptocurrencies in order to create a standard and to make sure that less and less scam projects will penetrate the market.

BartS

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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.

Most of the money in this market is invested in the top 10 projects and we know that they have a very good reputation and so they are not affected that much by what scammers are doing, the market that is being greatly affected is the ico and the ieo market, it has come to the point in which people do not really even look at the projects anymore because they know they are scams and 9 times out of 10 they will be correct.

And until that changes I do not see how we can ask investors to put their money in those markets again

letyouearn

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Good strong altcoin season will make the situation better, regulation will change it, but the process is too slow, it will take few years. Now there too many scams just because ICO teams find it to hard to succeed without scamming people.

nutriagrigia

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Quote from: johnwest on December 19, 2019, 11:34:37 AM

Obviously its affecting a whole community and newbie investor's first impression will get negative and they will be against entire crypto for this reason. People have become cautious now and most of them wont invest in these new, no plan projects but still we need some kind of system where we can determine whether a project is scam or not.

the system existing for a long time and on the forum has already written many times about how to properly analyze new projects. Now the problem is that people do not use this system and continue to invest in terrible projects. you say that people have become careful but we see that even obvious scam projects can raise 5-10 thousand dollars. maybe it’s not enough, but you think that such people exist who invest in everything

johnwest

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Obviously its affecting a whole community and newbie investor's first impression will get negative and they will be against entire crypto for this reason. People have become cautious now and most of them wont invest in these new, no plan projects but still we need some kind of system where we can determine whether a project is scam or not.

Kersh768

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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 do think so. It is because of the traumatic experience from recent scam projects that the investors have been into that drove them away making them avoid investing into projects that involves cryptocurrencies. Even bounty hunters are afraid of engaging into projects because of those scam projects that they have gone through. We are all suffering because of that. Now, the mentality of investors as well as bounty hunters are into the concept of generalizing all bounties or projects are scams that is why we are poorly supported by investors making the market down that leads to the failing of some projects in the market. For me, in order to make the bounty hunters and most specially the potential investors to get back into investing on crypto project, we must establish once again good credibility.

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