Topic: Can we consider a project legitimate if it has been in existence for two years? (Read 290 times)

Apple pie or whatever you may called the name can never in any day compared with bitcoin even though someone used 10k bitcoin to buy pizza that doesn't mean that bitcoin was as costly as this currently I think as then it should be less than $10k. Just imagine now no one would risk such amount with the current price of bitcoin to buy pizza so don't have this mindset of shitcoin turning into bitcoin over night, and don't always get deceived by project owners with all matter of hype despite they spent 2 years here that doesn't mean that project is legitimate for you to go invest. You can gamble with that project, meaning you can spare some cash you aren't in need to use it anytime soon to invest and that should be amount you can spare to risk without having to think about it twice.

There are countless projects that only exist because oh their yield farming. So ask yourself, how does this project help cyptocurrency adoption or development? Or do you want to buy it because there's Applepie in the name? Because that's what i am getting from this. Projects can be over 2 years old and not abandoned, but i find it funny that we have such a low bar that we are pondering if that's a reason to call them legitimate.

The fact that they are sill alive can be because of few things.

1st: Dev team really didn't want to rug pull people.
2nd: Not in at any point they didn't have enough money flowing in to be worth rug pull, so they didn't even try.
3rd: Dev team is only or few one persons and codng in their spare time. So it takes time to do anything.
4th: There's no plan and nowhere to go but to copy other projects. So there's no reason to die, but there's no reason to get excited either.

Lastly: Don't ever compare your altcoin or token to bitcoin early days. That reeks like a scam or delusion. To whether jump in or not, it's your call. I can't find any reason from the top of my head why i would pick this from thousands of others.

And i am glad that you didn't try to push your referral link on this, even though that looks rewarding, as it would be against the forum rules.

In my opinion, all projects that have been registered with CMC are legitimate projects, but not all projects that have been involved in the crypto world for a long time have high fundamentals, totality and popularity in the crypto world, if a coin does not have what I mentioned it is certain  The coin will fail, or it could also be said that the coin will not have many fans.

It seems you've started hyping the Apple pie and you should be careful when dealing with other crypto aside from bitcoin, alot of project that lasted more than 2years can still serve as a ponzi scheme so you should not trust easily when dealing with other crypto. Have you ever thought why people neglected bitcoin at first, sometimes i believe they failed to trust bitcoin and now see the price of bitcoin today, if comparing newly projects with bitcoin at that early stage, you should find the features of bitcoin at that time and compare it with the apple pie you mentioned. I would have love to make more research concerning the Apple pie but there's no need and the features you gave is not even enough to trust such project, I believe you should know the market cap first before taking any step but in my opinion if you really like the project you should observe before taking any step further

Definitely not! Just look at HEX. It's been around since 2019 and many people think this is a legit coin, but it was created by a scammer who changed his name so people wouldn't associate him with his former endeavors, then he started to build his persona on youtube, criticizing others, trying to look calm and legit and the final deal was to launch his own coin, where people would send him money for nothing, because his coin doesn't do anything. It's just a contract that takes your ETH, gives you a share in a speculative project, and subtracts a part of this ETH and sends it to HEX founder's personal address.
Time does not make a scam legit, it just makes it a good scam, well designed and profitable for the scammer.

A daily return of 10% seems excessively high, as the adage goes, "if it's too good to be true, it probably is," suggesting a potential scam. The duration of a project is not a reliable indicator of legitimacy, as scammers may prolong operations while they continue to profit. The system you describe appears akin to a Ponzi scheme, relying on new invites for earnings, and collapsing when new participants cease to join. While it's your decision to continue or heed advice here, if I were in your position, I would consider withdrawing my investment while it's still possible and redirecting it to a legitimate project like Bitcoin.

Another piece of information that suggests this is a very likely scam. If they claim to have been around for two years, why is their domain registration less than one year old?

https://whois.domaintools.com/applepies.co

The answer is No, I believe you must have received same answer from different users here but that remains the truth even be it a 5yrs project as long it's not Bitcoin, every possibility of crashing one day because they have their Devs who are in control and no anyone knows what they have in mind, be it good for the project or them trying to rug we never can tell.

I don't fancy talking much, you will see my reply in actions and not speaking our random projects because I'm no influencer in the market. Every new day, we're open on looking at the huge money spent on these numerous projects. We should be careful whenever we we're in the market, beoming victims of defeats due to lose of our initial capital, I don't fancy such ideas because I'm a straightforward person that wants the best for my favorite club. I don't concord with that particular statement. Scam projects and their members are gradually working entirely to achieve their targets.

First of all not a single project can be compared with bitcoin because the success rate of bitcoin is increasing day by day. But still if there is some successful project and it is giving profit to its users for two years then it can be successful but I don't think that all project with 2 or 3 years of profit can become successful forever because so many projects become scame after the attaining success for years.

Don't be so greedy because bitcoin is bitcoin and after that there are two altcoins which are Ethereum and BNB without which the success of every other coin is doubtful. If you are getting profit then get your profit from it but don't believe so much that you become ready to invest large sum of money in apple pie.

10%? Damn that screams scam already. Would avoid it if it were me but if you have the money to spend then why not try it. I mean experience is the best answer. As for a project being a scam or not depending on how long it was running, ever heard of OneCoin? It was a Ponzi scheme that lasted afaik for about 2 years? Or somewhere around there. And there was a lot, and I mean a LOT of people involved in it. Just look it up and you'll see how much damage it dealt to investors. The time of a project doesn't mean much. It may mean a bit, but it's never the main factor that should sway your decision.

No not really a lot of scammers tend to be more patient and careful nowadays that is how they lure people in if people see that they have been in existence for quite some time they are going to think that it must be legit and then when you have already been sucked in and you are now recommending their services to your family and friends and you are very confident with the project they are going to pull it out and voila your money is gone

Some scams allow their victims to gain profit first at to build trust before they run off when they have made significant profit

Just take a look at the name of the user, their small rank in the forum and the fat he made sure to include the link to the "service" he does not feel sure about. Still, even though he claims not to be sure about the project legitimacy, he stills make emphasis on the time this alleged project has managed to stay up: 2 years. To me it is pretty obvious this guy is trying to indirectly catch people into this disgusting and obvious ponzi scheme, by tickling others greed and make then believe they can make some money out of a "project" which I bet it does not actually have 2 years running.
That is a typical way for ponies to deceive their victims, they claim to have more time than they actually have in the market, "since 2015" and they actually only have been running for 3 weeks.
The fact this guy is talking about 10% daily is an insult to our intelligence, at least, some more organized and planned criminals try to offer more credible yields to give some façade of legitimacy... 

I'm not sure if you are directly/indirectly spreading this, but I can only tell you that Ponzi deceives with good profits to stimulate people's greed. This scam is widespread, how long it lasts doesn't say anything, if you haven't heard about the bitcoinnect, tera,... you can search for them yourself with similar things and they used to be on a very large scale, but it never guarantees your money is safe.

It's best to stay away from these things, learn again about investing, gambling,... to see your perspective and awareness of those things. Be more honest with your own abilities, remember to take responsibility for every problem, don't just take advantage of people's ignorance, and that's not necessarily for you.

Centralized projects can turn into scams even after years of existence, so I wouldn't say a project is completely safe to invest in because they existed over 2 years in the market. But you can consider investing on a project that is listed on a reputed exchange over 2 years and performing well consistently, being exist is completely different from doing well so pick the right project not just fall for the names.

Jump in at your own risk. If the project seems so good as to be compared with Bitcoin, then its value and demand should have been in competition with Bitcoin. Before you consider investing in altcoins, also make a decision to accept any loss that you might incur. Be determined to handle the loss if you don't end up making a profit.

Based on your title, the success or legitimacy of a project is not determined if it has lasted for two years or more. As a matter of fact, Tera Luna was launched in 2018. The project grew for three years, and as of then, it became the third largest crypto after Bitcoin and Ethereum, but four years later (in 2022), the coin crashed and wiped off about $50 billion in the crypto market. Really bad, right? So, that's actually proof that even if a project has lasted for three years, that doesn't mean it will not crash if it wants to.

Any project that compares itself to Bitcoin is fishy because it seems they want you to invest so they would want to create the hype and ideology that it could go as far as Bitcoin (which isn’t true). No crypto currency is worth even half of Bitcoin, and that there shows you what value can do.

Now, 10% of your investment on a daily is so unrealistic. They should have looked for a better lie. Do you know what that means? If I invest $100, they give me $10 daily? How do they make the money? Ponzi is smelling. Anyone else perceive it?

The old HYIP huh. 2 years is pretty much really long for this type of investment and you should not even bother to even try it. The project can be closed at anytime before you even withdrawing the profit, HYIP relies on others investment to run their business and it's just not a good practice of investment to start with. Just stay away with this kind of investment.

How long they have been running doesn't really matter here because of the above reasons.

The age of yield farming is so 2022 and yes, the rewards from yield farming is not sustainable and there's a very high chance that you'll lose more than you stand to gain. The yield farming model that became popular in 2021-2022 is flawed by design. Even more dangerous is the fact that the protocol is built on BSC which is the #1 chain for ponzi schemes and scams.

If you do choose to participate in it, ensure you've done extensive research about the protocol.

Well, there is that old saying - if it seems too good to be true, it probably is.  This staking pool or whatever it is claiming to be definitely fits into that category.  I mean really, a consistent 10% daily return for two whole years? When you do the math on compound interest over just one year the amounts quickly become astronomical.  Simply impossible to deliver legitimately. 

So I would say this is almost certainly a Ponzi scheme thats eventually going to collapse. If they pay anything at all... They lure in victims with promises of ridiculous, unsustainable returns until they get enough money to take the cash and run and  oldest trick in the book really.  I know it can be tempting when you see dollar signs, but best to trust your gut on things that seem shifty.  Just walk away and keep your money where it belongs - safely in your own pocket.