Fraudulent projects in crypto very much undermine the reputation of the industry. That is why the governments of a number of countries are so negative about cryptocurrencies. It's an unregulated industry and many scammers take advantage of it.
Smart investors don't like any regulation by government. For money laundering different countries banned cryptocurrency, this isn't right that banned for fraudulent project. Scam projects is killing cryptocurrency because people trust. Although top exchange IEO can bring some trust for investor. 
Topic: Are the scam projects killing entire crypto space? - page 7. (Read 5803 times)
During the past few months there has been so many scam cases and this made the investors very sceptical about investing in projets cause there is no guarantee about how genuine any new project is. The IEO somehow brought some level of confidence to them but it is just to an extent.
I think yes. Imagine getting scammed once in a while whenever you support a project. Because of this, some people might just give up on supporting the entire crypto space since the good/legit projects are outnumbered by the scams which means the legit projects are getting harder to find. Not even the ratings from different websites can prevent this.
Perhaps even not the whole crypto world, scam projects are seriously damaging especially new projects on the market. Unfortunately, investors have almost lost confidence in new projects due to scam projects. And this prevents investors from investing in new projects.
Yes, one of the reasons investors are afraid to invest in crypto is because there have been many fraudulent projects that were born lately, which is what investors are often wary of now. Fraudulent projects in crypto very much undermine the reputation of the industry. That is why the governments of a number of countries are so negative about cryptocurrencies. It's an unregulated industry and many scammers take advantage of it.
Even with a small amount of news triggers us all, bad news affects the market and its consumers as well. We cannot stop scammers not to scam other people so that we can protect the crypto world. Many people are starting to lose their interest in crypto due to what happen last year , but we are still hoping that by next 2020 it could not be happen again and more and more IEO will be a real one. But there will be a thing that can help us lessen the scam project to be advertise it is by not joining them and doing some research about everything. I believe that with the advent of promising projects, scammers immediately appear to easily make free money. And now it’s very difficult to determine what kind of project it is. And investors are losing interest in such projects. Since a large number of investors have already lost their funds. And I believe that in order to attract the attention of investors, certain rules must be passed to create promising projects. And then a large number of investors appear.
Perhaps even not the whole crypto world, scam projects are seriously damaging especially new projects on the market. Unfortunately, investors have almost lost confidence in new projects due to scam projects. And this prevents investors from investing in new projects.
Fraudulent projects in crypto very much undermine the reputation of the industry. That is why the governments of a number of countries are so negative about cryptocurrencies. It's an unregulated industry and many scammers take advantage of it.
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.
Yes of course, The trust will vanish by the scammers and all legit project are so very affected on this matter. We need to avoid scammer before the time that investors doesn't have trust to invest on crypto. So to all new on crypto please review first before to participate and make sure that investment can make you a profit either its small but legit is fine. 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.
It's the reality of cryptocurrency system, due to lack of any regulation for entering to this system, a group of people has taken this opportunity to gain huge money by creating some fake project and other people lost their valuable money by investing in there, so the credibility of this system has started losing and further people haven't joined in cryptocurrency platform, I think this crisis could kill this system forever because it's a matter of credibility and acceptability. so those scam projects are the main responsible for this crisis for me.
I think it is quite difficult to stop these fraudulent projects. because ICOs or IEOs are done between private actors and there is no legal intervention. And the commitment to buy tokens is also based on your decision and there is no legal intervention again. Therefore, we need to equip ourselves with the knowledge to combat these fraudulent projects. Each individual must have this awareness that in the future, no one will be exposed to fraud anymore and the scammers will gradually become discouraged and leave the market.
Yeah, if there is an original ICO project underway now, they will definitely be affected, they will be hurt because investor interest will diminish towards the original project. This is very damaging and detrimental to the original project as a result of fake ico projects that have deceived and run off investors' money. The impact is again because of the lack of interest, the original ico project is killed and cannot grow anymore, investment in crypto for new projects is hampered.
that is the sad truth as people will always think negative because their trust was once already been tested but there are also those that will find it normal . on the crypto world there will always be scam and legit investments . intelligent investors know that and once they got scammed or failed on thier first try , they will still try again . not just scam and bad projects make investors lost thier interest but other things can also be a reason like for example if they dont have a funds or they are just switching thier interest on other stuff's .
Yeah, if there is an original ICO project underway now, they will definitely be affected, they will be hurt because investor interest will diminish towards the original project. This is very damaging and detrimental to the original project as a result of fake ico projects that have deceived and run off investors' money. The impact is again because of the lack of interest, the original ico project is killed and cannot grow anymore, investment in crypto for new projects is hampered.
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.
No they have taken the glory of this space, if they have I don't think anyone will be interested in the affairs of this space again. Rather I will say, scam projects are drawing this space back, because the funds that would have been used to invest in valauble projects are been taken by scammers. Also, another thing holding us from moving forward is all these hacks and bad news from exchanges. But even at all these, the crypto space has come to stay it's only a matter of time.
It would be impossible to quantify the extent of damage which scam projects have caused to the cryptocurrency industry. Most people see the industry to be a hub for Scammers and unscrupulous individuals. This has also increased the difficulty of mass adoption of cryptocurrency.
You can find scams in every single field. Obviously the prevalence would be higher for relatively new domains such as cryptocurrency. However, I would not be too much bothered about them. These scams can be quite damaging in the short-term, but in the long-term they bring some positive outcomes. They remind the investors to stick to the established cryptocurrencies and to be more careful about their investments.
This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.
And this is a mistake, now with ieos many are trusting that exchanges are going to do their job and are relying on them to investigate the developers and the project, but exchanges with good reputation like binance are going to only verify if the people behind the project are who they say they are but that doesn't guarantee that the project is going to be a success, for that you need a good roadmap and good developers that know what they are doing and how to accomplish it, and those kind of developers are in very short supply.
It would be impossible to quantify the extent of damage which scam projects have caused to the cryptocurrency industry. Most people see the industry to be a hub for Scammers and unscrupulous individuals. This has also increased the difficulty of mass adoption of cryptocurrency.
This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.
Initial exchange offerings indeed can be trusted when listed on famous exchanges like Binance. At least this shows that the project is not a scam and serious one too. When a contract is made between involved parties, the exchange thoroughly audits the project. Of course, if they wont, they will end up providing opportunity to scams or failures that will ultimately ruin reputation of exchanges.This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.
And this is a mistake, now with ieos many are trusting that exchanges are going to do their job and are relying on them to investigate the developers and the project, but exchanges with good reputation like binance are going to only verify if the people behind the project are who they say they are but that doesn't guarantee that the project is going to be a success, for that you need a good roadmap and good developers that know what they are doing and how to accomplish it, and those kind of developers are in very short supply. This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.
Initial exchange offerings indeed can be trusted when listed on famous exchanges like Binance. At least this shows that the project is not a scam and serious one too. When a contract is made between involved parties, the exchange thoroughly audits the project. Of course, if they wont, they will end up providing opportunity to scams or failures that will ultimately ruin reputation of exchanges. Jump to: