Most altcoins are fake (wakanda) | Bitcointalksearch.org

Xampeuu

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Quote from: goaldigger on May 18, 2023, 05:29:12 PM

Quote from: fvb on May 18, 2023, 12:44:06 PM

As I understand correctly, we are talking about the Wakanda Inu token and I remember I had these tokens. I got them as a reward for a bounty and I remember that I studied information about the project and even wrote an article. But having received the tokens, I immediately sold them, since I don’t really believe in such projects. And as it turned out, not in vain, judging by the schedule of price fluctuations

If in doubt, better to ignore or leave right away.
If you already knew how this token will end up, the better. There’s a lot of fake projects just to scam the investors, this might look profitable at first but later on, they will ended up like this. Meme tokens are used to be like this, most of them are scam so better not to get hyped and do your own research before investing into something, its not that hard to spot a fake project.

sometimes even though we do research with personal knowledge, we still experience errors in analyzing, this is because new altcoins are difficult to predict, and many are scams, therefore we don't miss the moment to sell it if you have it, because then the dump price will most likely be difficult to return to recovery. or if we buy it I think using a little money just to get rid of curiosity I think it's better, so that if we are lucky our money can multiply, but if not, we don't experience heavy regrets

Iyeman

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most of the altcoins are outright shit are usually the ones created for meme coin in general, but it also have something to do with the fact that creating such coins requires significantly lower effort than creating genuine, high quality ones that is backed up by innovation, so it's normal occurrence and we should just avoid it.

goaldigger

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Quote from: fvb on May 18, 2023, 12:44:06 PM

As I understand correctly, we are talking about the Wakanda Inu token and I remember I had these tokens. I got them as a reward for a bounty and I remember that I studied information about the project and even wrote an article. But having received the tokens, I immediately sold them, since I don’t really believe in such projects. And as it turned out, not in vain, judging by the schedule of price fluctuations

If in doubt, better to ignore or leave right away.
If you already knew how this token will end up, the better. There’s a lot of fake projects just to scam the investors, this might look profitable at first but later on, they will ended up like this. Meme tokens are used to be like this, most of them are scam so better not to get hyped and do your own research before investing into something, its not that hard to spot a fake project.

panganib999

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

I don't understand why you would still ask for people's reasons why they would scam the heck out of people like you who don't have good amounts of knowledge about crypto, like hell of course they do it for the money. No other question.

There's no use crying over spilled milk, you'll just have to be very careful next time. Be very smart and inquisitive when you invest on a project, and don't just jump into one just because it's "African" or whatever fucking reason you have. Research, see if there's something fishy going on, most of the time you'd see it on the whitepaper/guidebook that all of these projects will provide, if they don't have a whitepaper, that's a telltale sign that they don't want you knowing what they would do with your money, best to avoid projects like that.

lalabotax

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September,

For some reasosm, honestly, I do very agree with you.Most altcoins are fake, shit, and not worthy moreover for long term. In this case, only few altcoins that actually can survive for longer bullrun situation. Not all altcoins are able to maintain their price and market cap very well and reach high lercentage. Only few altcoins. Most of them are about the hype atcoins that will end as rugpull and utilized by certain people who are taking high profits from it, that can handle this.

el kaka22

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There are over 30 thousand projects created in the crypto world so far, that's an official number and maybe even a lot more but at least 30k projects created, can you imagine all of them were real? Obviously when you reach those levels there are some of them who are just fake, and I do not mean like just failed, I mean literally fake and were created by devs that wanted to get funding and spend that to get rich, that's it.

I have seen that myself with my own eyes, I have been hired by people and hoped that I would get rich getting paid in those tokens and then the owner just took all the money and used it to buy stuff for themselves and just rug pulled the whole project. Do not fall for them, if a project doesn't have what it takes, then there is no reason you should be paying them to get it.

The Cryptovator

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There are numerous low-quality cryptocurrencies that would never recover your initial investment. I personally experienced losses from a few of these so-called "shit coins" and learned my lesson. It's important to avoid investing in such coins altogether. Many of them are created solely to raise funds and then disappear without a trace. As a result, investors end up losing their initial investment, and in some cases, the coin's value plummets close to zero. It's crucial to exercise caution and be aware of the risks associated with these types of coins. Nowadays, anyone can create tokens using smart contracts and sell them on the market, so it's best to refrain from investing in new projects right off the bat.

fvb

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As I understand correctly, we are talking about the Wakanda Inu token and I remember I had these tokens. I got them as a reward for a bounty and I remember that I studied information about the project and even wrote an article. But having received the tokens, I immediately sold them, since I don’t really believe in such projects. And as it turned out, not in vain, judging by the schedule of price fluctuations

AakZaki

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New altcoins that just follow the hype trend are only created to enrich the creators of these coins. when the project gets a lot of money the altcoins will be abandoned and the developer get a lot of money from a lot of investors. this is very sad and look at this time, memecoin is also hype and there are lots of memecoin scammers who steal a lot of investors' money which then withdraws the liquidity that is already in the market.

Kelvinid

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

The reason why? Perhaps you have mentioned it already and they will keep doing that as they see potential people like you OP who easily entrust their money in new projects without research. But you can't blame them either nor question why they are doing this because if we take caution before investing and if all people/investors are doing this stuff, they will stop for sure. Unfortunately, so many greedy and innocent people in the crypto space, and they usually get fooled by scammers especially, when you show them an interest in their platform.

lienfaye

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

Please what is the aimed of those people doing fake crypto currency?

Of course to make money. They deceived the people by creating a project and promising the investors to have a good return when they invest and making it looks like the project is really worth to take the risk. This is one of the reason why it's quite risky to invest in new coins, because majority of them are shitcoins without utility.

Anyway, since wakanda has still value, why don't you wait until bullrun? Who knows the price might soar high. I also have meme coin that I bought 2 years ago but the difference is, I already profit from it and just holding some to see if the bullrun in the future can influence the price to increase. Anyhow, this is a lesson for you to not trust the new coins easily without doing your own research because scammers are already smart to create a project that looks genuine.

Rupok

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The number of scammers in cryptocurrency is increasing day by day. Most of the investors are now falling victim to scammers. Because most of the altcoins are definitely fake. They make fake altcoins to steal people's money.That's why I'm always wary of investing in new altcoins. Fake altcoins got hype at first but then they slowly went down and the price was never able to recover.They try to grab money by luring investors.If most of the altcoins were not fake then the number of investors would have increased. Most real altcoin investments lose a lot of money for fake altcoins. I've seen some altcoins go down after a few months on the market. Those who invest in altcoin lose the most money.

Rasa nanas

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the evidence is not enough to make accusations if they make fake crypto to steal money. if you buy and the price keeps dropping maybe you buy when the price is peaking and you are affected by FOMO because this altcoin is the first crypto from africa. maybe you should look for other evidence regarding the accusations you made.

terciduk123

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

Is this the token you're referring to?
https://coinmarketcap.com/currencies/wakanda-inu/
A project like this was never worth investing in; perhaps it would be more accurate to call it a gamble. If you're lucky, like Shiba inu, you'll make a lot of money; otherwise, you'll lose your money.
The goal of persons creating fraudulent tokens / shitcoins is fairly clear: to make a lot of money in numerous ways, including cheating.

LastKiss

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

Well they want investors money from creating a scam token, many tokens went zero after a few months because the team abandon their project. If wakanda team is still active in the group and they keep developing their product then you can hope the price will come back and reach its new ATH but if the team already abandon the project then you can give up your investment.

Fatunad

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Quote from: timoshani on May 17, 2023, 04:39:13 PM

Quote from: Mpamaegbu on May 16, 2023, 02:03:27 PM

Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September

To start with, Wakanda isn't the first Africa project. There was Dalecoin even before I embraced crypto in 2017. There was also Zugacoin created by Sam Zuga, an African, in 2019 or 2020.

Quote

many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

I saw through the smokescreen when the hype for it hit the media but I avoided it as my sixth sense told me something wasn't right. My guts were right. It was the same way I avoided the shitcoin, Zugacoin. It's not as if it's an African thing to have bad projects. It transverses all continents. There are scammers everywhere. BTW, don't sell off what is left. You never can tell if there are going to be novice investors who are definitely going to buy it during the forthcoming bull run in 2024/25

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Please what is the aimed of those people doing fake crypto currency?

I believe this is a rhetorical question.

There was also African Coin Exchange's Altcoin AFCE. The project was also launched in mid-2018. But in fact, a complete scam. Therefore, I looked at Wakanda without enthusiasm. He did not arouse confidence.

Not really that bad to consider out some local exchange platform on which we do really tend to support if ever there's one been existing but we cant really just deny that whenever we do tend to touch up some new platforms then there's always having those doubts when it comes to legitimacy on which we've seen lots of exchange hacks and scams around which it would be resulting on losing up money. Same goes into those projects who do just pop out like mushrooms and as an investor then you should really be having that kind of approach when it comes on how you should really be that mindful on making out some research first before
diving into something.This is usually the mistake or error of most people when it comes to investing on which they are really letting themselves driven or get hooked with the hype without even tending to realize
that it wasnt really that much of a preferred way on dealing with it because you are really that putting yourself in so much risks.

timoshani

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Quote from: Mpamaegbu on May 16, 2023, 02:03:27 PM

Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September

To start with, Wakanda isn't the first Africa project. There was Dalecoin even before I embraced crypto in 2017. There was also Zugacoin created by Sam Zuga, an African, in 2019 or 2020.

Quote

many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

I saw through the smokescreen when the hype for it hit the media but I avoided it as my sixth sense told me something wasn't right. My guts were right. It was the same way I avoided the shitcoin, Zugacoin. It's not as if it's an African thing to have bad projects. It transverses all continents. There are scammers everywhere. BTW, don't sell off what is left. You never can tell if there are going to be novice investors who are definitely going to buy it during the forthcoming bull run in 2024/25

Quote

Please what is the aimed of those people doing fake crypto currency?

I believe this is a rhetorical question.

There was also African Coin Exchange's Altcoin AFCE. The project was also launched in mid-2018. But in fact, a complete scam. Therefore, I looked at Wakanda without enthusiasm. He did not arouse confidence.

Dave1

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Quote from: Godlovesyou on May 16, 2023, 09:48:32 AM

The first Africa crypto project was established to steal people's money, when wakanda came out in towards July 2021 and did the burn in September, many people wasted their hard earn money to buy enough, I personally use $300 to buy wakanda which accumulate 2billion plus, but since then, wakanda never rise for once, only going down, my money is less than $10 remaining.

Please what is the aimed of those people doing fake crypto currency?

So sorry for you lost, I know it's a hard earn money, maybe this is just a wake up call to you, I mean you need to do your own research (DYOR), before investing your money. Initially there will be hype on projects, but you have to look if they have a good use case or just another project to be used by the creator for pump&dump. And in this case, it's the latter.

Obviously the aim of those people is to get as much money as they can and they themselves are going to sell it at the high price for instant profit. Yes, there are a lot of scammers here, so you better to really not to trust anyone or again, you need to be very careful of projects that you are going to invest.

Cling18

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Every day, more and more projects and coins are being created fraudulently. so order to draw so many investors, they are even attempting to be relatable. To make their names sound catchy, they borrow them from locations, movies, fashion, and current events.
This is why it's always a good idea to do some research first so you don't fall into their traps too readily. We should be aware that scammers and fraudsters lurk everywhere and are constantly looking for unsuspecting targets, so we must always be vigilant.
Although we have no influence over scam projects, we could be informed and sensible enough to avoid them.

FahriZah

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It’s not good words because most alts coin are fake this words not Sweetable and need to say many alts coins are fake scam like this don,t believe shit coin now.

Topic: Most altcoins are fake (wakanda) (Read 305 times)