Is the entire Crypto Market ever likely to be Scammed? - page 2.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

This is exactly what regulators are striving for now, which has put spokes in the wheels for the development of the crypto industry. Sow panic and debunk the hopes of investors, thereby proving that banks are still the only protection for clients' assets.
Stories of the collapse of exchanges and various attacks on Binance play into the hands of regulators. Involuntarily, thoughts arise that all events were pre-planned.
Despite this, many people who have been through difficult times continue to believe in Bitcoin. Trusting other cryptocurrencies, except for Bitcoin, of course, is a thankless task. Now is not the best time to take rash risks.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

No, not really. The place is highly volatile, I don't think you should invest everything in it. Maybe a part of it, one that you're willing not to spend for a long time, specifically investing it on Bitcoin.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

If you're referring to altcoins then probably they're most likely scam.
Most altcoins were created just for the benefits of the creator nothing excess though they're still a few of them that still has good utility but most of them a shitty. So if you're considering only them aside from Bitcoin then I have no issue with it at all.

Quote

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

I won't advice anyone to pour his/her hard earned money into crypto. Only invest money that you can afford to lose, you never can tell what will happen to the market tomorrow, the market might be looking great today but can turn to a nightmare overnight.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

I don't think that entire crypto is a scam. There are many scam projects or investments in the crypto world. But it doesn't mean that the entire crypto world is a scam. If the entire is a scam, it means that Bitcoin is also a scam. It is not.

We cannot deny that many scams in the crypto world. But we also still have many legit projects especially Bitcoin, and some trusted altcoins. Although nobody guarantees that they will not turn out to be scammed. But at least, I still believe in crypto (certain crypto) so far. How much do I believe? I believe it as much as I am here since 2017 in the crypto world. But, it is not enough with only trust. we must be smart and careful when investing in crypto because crypto is high risk. So we must be careful in what cryptos we will invest in and how to invest carefully.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Bitcoin is not a scam, and Bitcoin is the coin with the largest share of marketcap.

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

There are other coins that are highly unlikely to be a scam. But that alone doesn't make them good investments. And also there's no such thing as "safe" crypto investment, because all crypto is highly volatile, has unclear fundamentals, problems with adoption, regulations etc.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

You may see it as scam only if you don't know what you are doing by entering the market with no understanding to make quick money. If you understand the market, trade or invest in the right coin such as bitcoin, have patience then you will realise how real the market is.

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Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

You cant store all your earnings in crypto like the bank because crypto is volatile and from time to time you will need morning for financial needs. You can only trade or invest crypto and you don't need to put all your wealth.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
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Cryptocurrencies are based on blockchain technology, which is a decentralized and secure way of storing and transferring data. Many cryptocurrency projects have strong communities and transparent development processes, which adds to their credibility. Additionally, the market for cryptocurrencies is highly competitive, with many different projects vying for attention and adoption. It is unlikely that all of these projects would be able to sustain a scam for a long period of time without being detected, and this is especially true in the case of Bitcoin. The Bitcoin community is also very large and active, with many people monitoring the project and its developers. Any major changes to the Bitcoin protocol are highly publicized, and any suspicious activity would be quickly noticed by the community. The chances of a scam being successful are extremely low, and Bitcoin has been running for over 12 years now without any major issues.

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Quote from: isaac_clarke22 on December 22, 2022, 04:15:20 PM

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

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Well the market itself ain't a scam, just those coins that are inside of it. With Bitcoin though, surely those 14 years of its existence proved already that it is not like those new coins/shit tokens you see in the market every day. I do not invest all of my money in Bitcoin, because surely I need to use fiat to get my basic stuffs but I got to be honest that my whole 5 years of holding/selling Bitcoin were not all just a waste of time.

If other comments here above me were not more convincing, I do not know what will.

Just focus on bitcoin, for sure it’s real and legit. No need to consider the entire crypto market as most of the new coins arising are scams. But investing all our hard earned money into bitcoin, I think that is very risky and I don’t have plans to do it either. I know how volatile bitcoin is, I could make millions in just a day but I could also lose them in an instant when market condition suddenly turns bad and everything goes into zero value.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?

Will you have to wait till the entire crypto got you scammed or knocked off because you realize about the recent scam going around with many shitcoins, aren't this examples enough to learn from, the entire crypto market may not scam or end up at the same time but each one will in due time shows all they were made of just as the ones going down already and the ones that has been closed down.

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

How much faith do you have about the crypto world?

Even a mustard seed a too big to have faith in the entire crypto except for few like bitcoin, it's not by believe but by nature of what they are, shitcoins are very common now and they constitute thousands of cryptos we have in the economy of digital currency.

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Can I confidently choose Crypto World to safely store all my hard earned wealth?

Yes only for bitcoin in which i wont suggest the entire life savings as well, make diversification on other asset or means of investment but am not recommending altcoins in this regard

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

like bank?

No

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

Choose bitcoin if you want to and not just any cryptocurrency to avoid what your fears are. The fear of the unknown is really to be upheld in cryptocurrency investment. Don't invest without proper investigation, bitcoin is decentralised and can't be manipulated like some other coins so if you invest in it, you can only have reduced value in price during bear market but you will recover during bull but you are sure no exchange will delist bitcoin. Some altcoins are being delisted from exchanges because of lack of volume and no use case.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?

We would all agree that there some bad eggs in the market but the entire market cannot be a scam, there are still genuine projects out there

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

How much faith do you have about the crypto world?

Crypto is the next big thing and has the potential to change the way we do things. So, I would say that I have faith in crypto, there might be ups and downs, bearish and bullish seasons but crypto has come to stay.

Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

No... Never put all your money in crypto. But if you're investing, I would advice you buy Bitcoin and hodl especially now that we are in the bear market and when we enter the next bull season you would have definitely made some good profits.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

I believe everything is a scam, only with the exception of bitcoin. But even so, it’s still very risky to convert all your fiat into bitcoin and keep it all into crypto. Aside from its being impractical, bitcoin is still not a legal tender that you can use it anytime anywhere. I must say it’s a must to have bitcoins as our investments and for our future pensions, but we need to also save some fiat so that we can still cater to all our basic commodities and services that can only be purchase with fiat.

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Quote from: Rruchi man on December 22, 2022, 01:22:45 PM

Storing al your hard earned wealth in crypto means that the amount you are investing is an amount that will hurt you badly if it gets lost, that is not advisable, you are always told to put an amount in crypto that you can afford to loose, not your entire hard earned wealth that you have accumulated.

We must determine the allocation to invest in crypto, so not all of the funds are owned but partly to invest in the future, but for every beginner it is highly recommended to choose Bitcoin investment because many beginners choose other coins that are cheap for the purpose of doubling their investment but they are not aware of the risks higher than a centralized project.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

~

Well the market itself ain't a scam, just those coins that are inside of it. With Bitcoin though, surely those 14 years of its existence proved already that it is not like those new coins/shit tokens you see in the market every day. I do not invest all of my money in Bitcoin, because surely I need to use fiat to get my basic stuffs but I got to be honest that my whole 5 years of holding/selling Bitcoin were not all just a waste of time.

If other comments here above me were not more convincing, I do not know what will.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

Scams are everywhere, be it in fiat or crypto. But talking about the entire crypto market as a scam, I don’t think it is. Because if it’s a scam, no one might have experienced big changes in their lives because of crypto. Although some are scams, but rest assured bitcoin is very legit and real. Altcoins may fall into scams in the end, and the rest of shitcoins and meme coins, but with bitcoin, it will remain legit and reliable because history has proven it, and no scam that will last and survive for a decade still standing in the end.

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No the entire crypto is not a scam,btc is the only one that is best and reliable,the rest altcoins are waste of time and a scam to the cryptosystem. Investing on btc is a good one but not putting all your hard earned money into it is not a good idea because btc is volatile in nature,you might be disappointed when btc price go dip. Always invest with your extra money so that if the market didn't go as expected, you will not regret it.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

I don't think any bitcoin expert will suggest investing all of your hard-earned money in cryptocurrencies because there are risks involved. Nobody can predict what the market will do, particularly in terms of its current state. However, you cannot simply have complete confidence in something unless you start using it and gain experience with it. For me, cryptocurrency is a better place to store my value because I understand how it operates and am aware of the risks it entails. You will therefore get experience from your investment, and you may use that to gauge how secure the storage value in cryptocurrencies is. However, I caution you against investing in any coins other than Bitcoin, because other coins may not be safe like Bitcoin. I will like you to do more research I know about blockchain and Bitcoin before you invest in it.

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

Nope not advisable to risk your hard earned money maybe an excess fund that can be spare for risk investment its fine. We dont know what would be the market situation but if you are ready for such risk then its time for buying some potential coin/tokens.

You cant be sure of crypto rather than bank because its quite risky.

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Any closed sourced coin has the potential to be a scam despite functioning perfectly for a long time. Any project could turn out to be a scam or at the very least a failure. Remember, that a project failure isn't the same as a scam. The problem we have today is the people behind the projects, seem to promise the world.

If you've got someone promising you all these features, and targets then you're likely to be disappointed. Even with Bitcoin, no one can promise you a thing.

However, as for the question I'm not worried about Bitcoin in the slightest in terms of scam. It's already been read line by line, and isn't controlled by a central figure. Whether or not Bitcoin is leveraged to scam people entirely depends on who uses Bitcoin.

Quote from: Zaguru12 on December 22, 2022, 01:05:52 PM

With the road map Its almost impossible for bitcoin to be a scam but other altcoins is something i can't testify for because of their centralisation.

What roadmap are you referring too exactly?

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Quote from: tokyohd on December 22, 2022, 12:50:14 PM

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

No, unless bitcoin turns out to be one ( impossible though).

I believe its a tool to fight against the controlled system we are trapped in currently.

Yes but for the sake of your financial security its not really a smart decision because the nature of cryptocurrency is highly volatile so invest on other assets as well apart from cryptocurrency.

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