Is the crypto community getting lost again? - page 3.

Kakmakr

legendary

Activity: 3514

Merit: 1963

Leading Crypto Sports Betting & Casino Platform

Do you think any of those developers during the ICO stage are back at it again with these new projects? Those guys literally tanked the Bitcoin price with all those scam ICO's back in the day. Angry

The scams got so bad that large social media companies actually had to put a blanket ban on all Crypto currency advertisements and that caused a 80%+ drop in the Bitcoin price.

A lot of people said the ATH Bitcoin price of $18 000+ was due to the push of these ICO's, so the latest price recovery might also be linked to the success of these "Ponzi" type schemes. (It would be bad if we see a repeat of the same mistakes with these projects) Angry

anu1908

sr. member

Activity: 770

Merit: 268

it's obviously going to fall apart very soon, and exchanges will then start delisting those defi tokens and 'wash their hands' again. i'm honestly surprised to see how short minded people is, buying lots of tokens that does not really have a fundamental demand backing them.

leea-1334

hero member

Activity: 2338

Merit: 953

Temporary forum vacation

Of course the community is headed in the wrong direction,,, then again, when have they ever been in the right one? Some day, maybe months and maybe even a year from now or more,,, many projects will fall apart, smart contracts will break and wallets will be lost. Then people will wonder what happened and they will say they learnt their mistakes. Until the next hype thing comes along!

makishart

legendary

Activity: 3108

Merit: 1029

Quote from: wack slacker on September 02, 2020, 01:55:57 AM

These projects are copying each other's source code, and one of them improves a little to make his code a little different. What these projects have in common is having anonymous team dev, I am very concerned about that because they can disappear at any moment. Any negative news can bring these projects down. They are being manipulated. Investors are careful.

I guess that doesn't even need a negative news to bring the price of those crap coins to go down to the ground.
Yuno has been dumped so hard even there was no any event. If you wanna see the proof and just come to this site

https://www.dextools.io/app/uniswap/pair-explorer/0x9bd8844a562978567ae10b5b05a9b68fe908de41

So many people have been facing a lot of loses
that's just the matter of time until the liquidity will be rugged and the project will become an exit scam project like curry.finance and after that the scammer will erase all of the groups.

wack slacker

full member

Activity: 966

Merit: 102

These projects are copying each other's source code, and one of them improves a little to make his code a little different. What these projects have in common is having anonymous team dev, I am very concerned about that because they can disappear at any moment. Any negative news can bring these projects down. They are being manipulated. Investors are careful.

sayulita

hero member

Activity: 881

Merit: 500

CyberTrade

Quote from: NavI_027 on September 02, 2020, 01:44:44 AM

Quote from: Yogee on September 01, 2020, 09:59:57 PM

For example, we have two tokens namely Sushiswap and Kimchifinance.

After the so called y series, now the trend is based on food? It's getting insane. These kimchi and sushi sounds good but nah most probably they were poison Roll Eyes

(I hope you get what I mean lol).

Quote from: Yogee on September 01, 2020, 09:59:57 PM

Be safe. Don't go all in. I believe there are far more safer cryptocurrencies to play with other than these new projects popping up like mushrooms

Absolutely yes! I feel sad because it seems that more investors FOMO. They're hasty and aggressive once they've heard a new "promising" project. Tsk! That's why I'm not surprised if there are still many getting scammed.

Even I have seen a lot of people on the twitter and in many facebook groups claiming they made a fortune by investing in shitty DeFi projects and are also encouraging other users who aren't even speculators to invest in the little known DeFi projects and a lot of people are also falling in this bubble but they shouldn't do this in the first place as this is risky as hell and many people have already lost a fortune in the DeFi scam projects. Even trading seems better task than investing in these DeFi projects.

amotor

jr. member

Activity: 35

Merit: 5

Yes. Absolutely! 99.9% of defi projects are complete scams. You can’t reasonably offer 500-2000% APY without making your coin worthless in the process. Plus most of these defi networks charge insane premiums on already sky high gas fees. Check out Sushi token. They charge premiums as high as $150 to transfer $200 into their network. But it’s fine right? They will guarantee you 2000% APY paid out in their native tokens. Some of these scams are so dumb you literally could not make it up.

NavI_027

full member

Activity: 1232

Merit: 186

Quote from: Yogee on September 01, 2020, 09:59:57 PM

For example, we have two tokens namely Sushiswap and Kimchifinance.

After the so called y series, now the trend is based on food? It's getting insane. These kimchi and sushi sounds good but nah most probably they were poison Roll Eyes

(I hope you get what I mean lol).

Quote from: Yogee on September 01, 2020, 09:59:57 PM

Be safe. Don't go all in. I believe there are far more safer cryptocurrencies to play with other than these new projects popping up like mushrooms

Absolutely yes! I feel sad because it seems that more investors FOMO. They're hasty and aggressive once they've heard a new "promising" project. Tsk! That's why I'm not surprised if there are still many getting scammed.

AitorMarcos

newbie

Activity: 61

Merit: 0

Quote from: Yogee on September 01, 2020, 09:59:57 PM

It's easy to get lost when you see a lot green candles from these DeFi and Yield Farming tokens if you're a new player. Those investors who experienced the 2018 crash would have matured by now but that's not what the charts is telling me right now. Maybe they are also taking advantage of the ignorance of newbies.

You're right, its easy to get lost in all those incredible things happening here in there like YFI coin or uniswap madness.
Is it up to community to decide where the market will lead tomorrow? Probably, but not totally.
Demand and supply is a two way road, so its not all about users and their choices.

Teraboy

hero member

Activity: 2282

Merit: 505

Quote from: Yogee on September 01, 2020, 11:44:22 PM

Quote from: Teraboy on September 01, 2020, 10:41:28 PM

I have found an interesting thing about ~~sushi~~ kimchi for you and what you need to see if kimchi was putting the code to make the contract creator will ba able to printing unlimited kimchi token.

Kimchi was also being accused by another defi called yuno platform too and you should visit this link

https://twitter.com/AdamScochran/status/1300869473352597504

that can be a very strong proof if this is no more than ponzi scheme. The newbies didn't know how to audit the contract.

What was that interesting thing about Sushi? I don't see any link about it in your post.

Kimchi was obviously rushed just by looking at the website. It appears to be a wordpress lol. So I'm not surprised to see another faulty code that allows the dev to mint unlimited tokens. Should we see a $KimchiV2 soon? I believe so hahaha.

By the way, Yuno didn't accuse Kimchi from that tweet. They were both accused as scams.

ah my bad, im sorry about that, i meant about kimchi and not sushi.

that tweet was accusing both yuno and kimchi but if you visited the yuno's tweet here https://twitter.com/YUNoFinance/status/1300875368455311360 you'll see that if even those scammers were accusing each other.

Yogee

sr. member

Activity: 1554

Merit: 413

Quote from: Teraboy on September 01, 2020, 10:41:28 PM

I have found an interesting thing about sushi for you and what you need to see if kimchi was putting the code to make the contract creator will ba able to printing unlimited kimchi token.

Kimchi was also being accused by another defi called yuno platform too and you should visit this link

https://twitter.com/AdamScochran/status/1300869473352597504

that can be a very strong proof if this is no more than ponzi scheme. The newbies didn't know how to audit the contract.

What was that interesting thing about Sushi? I don't see any link about it in your post.

Kimchi was obviously rushed just by looking at the website. It appears to be a wordpress lol. So I'm not surprised to see another faulty code that allows the dev to mint unlimited tokens. Should we see a $KimchiV2 soon? I believe so hahaha.

By the way, Yuno didn't accuse Kimchi from that tweet. They were both accused as scams.

Teraboy

hero member

Activity: 2282

Merit: 505

I have found an interesting thing about sushi for you and what you need to see if kimchi was putting the code to make the contract creator will ba able to printing unlimited kimchi token.

Kimchi was also being accused by another defi called yuno platform too and you should visit this link

https://twitter.com/AdamScochran/status/1300869473352597504

that can be a very strong proof if this is no more than ponzi scheme. The newbies didn't know how to audit the contract.

Yogee

sr. member

Activity: 1554

Merit: 413

The level of madness on these Yield Farming projects is off the charts. These tokens sell like hotcakes even if they recently launched with some red flags. Is the community going in the right direction?

For example, we have two tokens namely Sushiswap and Kimchifinance.

If you look at their websites, both projects have anonymous team.
It looks like Kimchiswap doesn't even have their own domain yet lol.
- https://sushiswap.org/
- https://kimchifinance.firebaseapp.com/

Their smart contract were not audited before launching just like what happened to YAM.

- https://twitter.com/kimchi_finance/status/1300821471493726208

- https://twitter.com/NomiChef/status/1299443378396962817
[Sushiswap was later audited by Quantstamp]

It's easy to get lost when you see a lot green candles from these DeFi and Yield Farming tokens if you're a new player. Those investors who experienced the 2018 crash would have matured by now but that's not what the charts is telling me right now. Maybe they are also taking advantage of the ignorance of newbies.

Be safe. Don't go all in. I believe there are far more safer cryptocurrencies to play with other than these new projects popping up like mushrooms

Topic: Is the crypto community getting lost again? - page 3. (Read 566 times)