Is there a fake coin? - page 20. | Bitcointalksearch.org

iqlimasyadiqa

legendary

Activity: 1596

Merit: 1011

Quote from: DeKingCrypto on May 04, 2018, 11:36:55 PM

Quote from: SmellsCinnamon on February 11, 2018, 09:17:34 AM

I just saw this somewhere on the internet. Are there any fake coins existing? How do you avoid buying fake coins?

First there are several fake coins out there. Before you invest in any coin, you are supposed to make your own research as to find out why you should buy that particular coin, with that you can spot a fake coin, but some coins are difficult to be identify if fake or not. Most times when I trade, I always pray to God for help.

fake coins are very much found in newly circulated coins, so usually new coin must be very noticed and do not let us lose due to mistake in choosing coin. A professional in the world of crypto in my opinion can already read the direction of movement of a coin, but for all of us who are still beginners then it is a pretty difficult thing to do. So one way to reduce risk is to try to invest in a coin that already has a good reputation, it can make us more comfortable and quiet to invest in the long term.

It can be said that fake coin is dominating today, many projects are failing and in the end they are scam. This is what degrades the reputation of cryptocurrency. hopefully the incident could continue to decrease.

2stout

hero member

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Not really but scam and shitcoins is probably what you are referring to, many of which wind up becoming dead coins.

Grayy

member

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Merit: 12

Do you mean scam coins or extra coins that are created to look like the original coin? If it is the former, there are a lot of scam coin hovering around the market space lately. just make sure you don't get caught up in their net. If it is the latter you are talking about, it is almost impossible to have so-called fake coins that are just like the original coin. Blockchain technology doesn't allow the additional fake coin to be created with same features and be added to the already fixed amount of coins that are already circulating.

DeKingCrypto

full member

Activity: 518

Merit: 124

Quote from: SmellsCinnamon on February 11, 2018, 09:17:34 AM

I just saw this somewhere on the internet. Are there any fake coins existing? How do you avoid buying fake coins?

First there are several fake coins out there. Before you invest in any coin, you are supposed to make your own research as to find out why you should buy that particular coin, with that you can spot a fake coin, but some coins are difficult to be identify if fake or not. Most times when I trade, I always pray to God for help.

YuiAckerman

jr. member

Activity: 185

Merit: 2

Well many fake coins as of now... but I think it more in altcoins... tokens I should say....many sh*tcoins everywhere... we should avoid these...those are scammers and also some other projects that are successful will be make a dump coins because the projects itself is not doing correctly or... they just stop implementing or produced the projects.

ethergod

newbie

Activity: 168

Merit: 0

Quote from: SmellsCinnamon on February 11, 2018, 09:17:34 AM

I just saw this somewhere on the internet. Are there any fake coins existing? How do you avoid buying fake coins?

I agree with a commenter who said to do research on coins. There are projects that are fraudulent, shady, or that serve no useful purpose. Usually these projects reveal red flags early on.

hiddenmist

member

Activity: 199

Merit: 10

Quote from: SmellsCinnamon on February 11, 2018, 09:17:34 AM

I just saw this somewhere on the internet. Are there any fake coins existing? How do you avoid buying fake coins?

I think they are referring to shitcoins.Those coins have a real blockchain but there is no real purpose except to scam and get investors money and left once they accumulate or they already dump all their holdings.

AlisaWhishie

member

Activity: 322

Merit: 20

You probably should explain it better, as I see no one here actually understands you.

So, as OP didn't make it clear, I will try to give you an example. (Not sure if he/she really meant it, but still).
We've seen recently smart contracts of different projects have been hacked, so scammers could create any amount of tokens, and of course these tokens were losing their price. Some people who didn't know about it bought them, but never could sell again.

Mrbee

full member

Activity: 454

Merit: 100

Of course there are fake coins on the internet. With any sphere which involves great money, there is a layer of people who are trying to scam you and steal your well-earned savings that is why you need to be careful with your moves.

luke liam

newbie

Activity: 80

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In fact, there are many times investors buy coin but not as expected. Because that coin does not grow as well as the future of advertising campaigns draw for it. According to my understanding, the coin is so.

brianna isa

newbie

Activity: 87

Merit: 0

In my opinion, the counterfeit is to give false information and indicators to mislead investors. It is our job to learn and follow that coin.

imanasshole

newbie

Activity: 79

Merit: 0

Fake coin and fake cash are two completely different concepts. Counterfeit money is the same form, but not issued by the central bank. As for coin, coin not printed, coin creation can not be faked.

samward

full member

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Merit: 100

Yeah, I think so. It`s so easy for scammers to create a fake project and a lot of fake constituents of it that comes along with the whole picture which r also fake! Launching their so called ICO, collect from investors, and then disappear! Pretty much an easy deal ’coz a lot of people r so easily scammed! Which is why we should be vigilant in choosing our investments to avoid any potential losses.

HEvangelista

sr. member

Activity: 574

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I am pretty sure there are lots of fake and scam coins out there. Most with admins who only show their faux faces and those who do not give out their real identities. But wait many say that bitcoin don't have a solid team and the founders are shrouded in mystery too. So this basically adds up to the confusion.

upbit

full member

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Of course there are, their sets, both conventional and Internet-coin. Be careful! Check the power of attorney, read reviews, look at the site itself.

worle1bm

full member

Activity: 1834

Merit: 166

Quote from: SmellsCinnamon on February 11, 2018, 09:17:34 AM

I just saw this somewhere on the internet. Are there any fake coins existing? How do you avoid buying fake coins?

There are scams but what do you exactly call a "fake coin".A coin which is easily tradeable for fiat is real one and i don't think there is any such coin in this market which we can call fake.Infact there are some frauds or hoax like selling wrong coins in name of other coins as they have more liquidity. Some sell Bitcoin cash naming it as btc which we can call wrong.

Gotomoon

sr. member

Activity: 719

Merit: 250

Scams are everywhere even fake coins better we should do the best time to have a research. Research on the best project, best team, and can able to enchance well their project. Others have been a victim of these fake coins they invest out their money and no value in the exchange at all.

BQ

member

Activity: 616

Merit: 53

CoinMetro - the future of exchanges

It's very easy to create your own ETH tokens, and get them on for example EtherDelta, which means anyone can create tokens related to ICOs in the early phases,
and have their ticker and scam people claiming it's the real token while it actually has absolutely zero value.
There are many scams out there, so be careful.

Erlinda Santiago

full member

Activity: 266

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Quote from: SmellsCinnamon on February 11, 2018, 09:17:34 AM

I just saw this somewhere on the internet. Are there any fake coins existing? How do you avoid buying fake coins?

yes some scammers make some fake coins they copy bitcoin so they can scam people over the world so be careful in buying cheap bitcoins

tiggytomb

legendary

Activity: 1848

Merit: 1000

Fake as in scams, there are definitely a lot of these about. You have to make sure you do your research before investing, don't buy into something simply because you saw someone mention it on Twitter for example.

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