Most altcoins are fake (wakanda) | Bitcointalksearch.org

Xampeuu

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Quote from: goaldigger on May 18, 2023, 04:29:12 PM

Quote from: fvb on May 18, 2023, 11:44:06 AM

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, 11:44:06 AM

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, 08:48:32 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, 08:48:32 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.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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, 08:48:32 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, 08:48:32 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.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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, 03:39:13 PM

Quote from: Mpamaegbu on May 16, 2023, 01:03:27 PM

Quote from: Godlovesyou on May 16, 2023, 08:48:32 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.

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, 01:03:27 PM

Quote from: Godlovesyou on May 16, 2023, 08:48:32 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, 08:48:32 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.

riskarcher

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While the cryptocurrency market has undoubtedly seen its fair share of scams and fraudulent projects, it would be inaccurate to categorize all altcoins as fake or scams. The term "altcoin" refers to any cryptocurrency that is an alternative to Bitcoin, encompassing a wide range of projects and tokens with varying goals, technology, and legitimacy.

It's important to exercise caution and conduct thorough research when considering investing in or engaging with any altcoin. Such Project Legitimacy,Technology and Innovation,Community and Reputation
Remember, while there are legitimate altcoins with promising potential, the cryptocurrency market is highly speculative and carries inherent risks. It's essential to exercise due diligence, diversify investments, and consider seeking advice from financial professionals before making any investment decisions.

coin-investor

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People should learn that if a coin or token comes from a trend or a hype this is going to be a useless and shit token out of the thousands of tokens or coins that come from what is trending only 1% or even less are still in the market and they are struggling, people should stop investing and supporting coins that comes from trend and hype, they keep coming because many investors mostly newbies who are dreaming to be an early bird in a coin that they think will have potential keep investing on these shitcoins.

Wakate

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Quote from: indo1 on May 17, 2023, 03:10:42 AM

I thought they failed more in their progress in building startups. I was once offered to be their marketing team, but they didn't pay me with money, except commissions, every time there was a purchase with a project, the progress of which was even less clear, they were reluctant to spend money to run the project, even now several people say their projects always take investor's money or exit scam.

what so investors do not know especially the newbies is that there are plenty fake coins in the market and we need to know how to recognize them if not you are going to end up losing plenty if money consistently because you have failed to learn how to suspect fake coins that are in the market.

We don't need to relax on the news or cryptocurrency influencers with there various hype about different cryptocurrency projects so that they can drive investors into such a project. We need to make sure we do the necessary research and invest when prompt than to just relax and make financial investment without having concrete information about the project.

yazher

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This is one good example of shitcoins and you can see after the hype has gone, the price has no longer able to recover because there were no updates or development has been going on and probably the team that created that coin has already switched their attention to another scam project that they will gonna launch to fool the same people that invested in their last fake altcoin. Most altcoins are like this that's why they are one of the main problems why the crypto market doesn't directly go up they are the reason why people lose their trust in buying altcoins again.

Doan9269

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Quote from: Vickysagar on May 17, 2023, 04:24:32 AM

People make fake crypto to make money from stupid people, it's simple

Those that invested in their coin aren't stupid, anyone can fall their trap, though i still have to blame them for lack of proper research before investing with them, but everyone wabt to take that opportunity with cryptocurrency to make money just as some have already got from the oast this fantastic experience in making money when they invested, it's about those behind every crypto projects and not the altcoins itself.

Quote from: Vickysagar on May 17, 2023, 04:24:32 AM

We all here so smart and will not fall for that, but actually a lot of people are buying this and the same stuff.

One still beed to be careful through his being smart not to fall into hands, scammers continue to developed more advanced means of attacking people through online crypto investment.

Vickysagar

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People make fake crypto to make money from stupid people, it's simple. We all here so smart and will not fall for that, but actually a lot of people are buying this and the same stuff.

danherbias07

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The aim is to steal from you in the comfort of their house. They don't even need to dirty their hands and go to the bank to risk their life robbing it. All they need is a computer, an internet connection, and some developer skills and Voila they can steal from people as long as they will you believe it is real.
This ain't new and I hope you did your research first before jumping the gun and investing in them.
Think about it, the name sounds fishy and they are using the hype of the latest movie just so they could steal some money from foolish people who would think it is real.
Look for a project that is promising and continuous, something that is backed by known players in the industry and not some wannabe crypto enthusiast who uses their skills for their greed. This is why I don't like anonymous team projects anymore. They say it's for their own safety but we all know what is really behind it on why they are keeping their identity.

indo1

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I thought they failed more in their progress in building startups. I was once offered to be their marketing team, but they didn't pay me with money, except commissions, every time there was a purchase with a project, the progress of which was even less clear, they were reluctant to spend money to run the project, even now several people say their projects always take investor's money or exit scam.

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Quote from: QueenVera on May 16, 2023, 01:39:39 PM

There aim is to steal people's Bitcoin so they can have more Bitcoin to profit from when the bull market comes. Most altcoins are created because the founders know people are looking for the next tending project to invest into. Wakanda Inu had a good version but the founder had other plans.
Enough money wasn't used to market wakanda inu like other memecoins that millions were been used for the marketing of the project. Coins like Shiba Inu used millions for their marketing and that's why they're very popular today. Wakanda inu founders made alot of money but didn't care about the community.
They abandoned the project and that's what made many investors lose money for investing into the project. If wakanda inu wants to survive they need rebranding and have to disassociate themselves from the Inu trends or they'll be seen as another scam project looking to profits from the name.

Unfortunately this is the truth and we have to learn to live with it. I know that developers are trying to make money from people and we are just getting the short end of it. A lot of people funded a lot of projects and got nothing in return and we have to realize that it is not going to be a good thing to handle this.

We are going to end up with a lot more and people will not learn from their mistakes and they will keep on funding new projects with the hopes that the new one will be better and not scam them but almost all of them will. These are all fake stuff that will make only the developer richer and nobody else, which is why I believe that we can't really do anything that will help anyone at all.

blockman

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Quote from: Johnyz on May 16, 2023, 04:53:59 PM

Quote from: blockman on May 16, 2023, 04:44:24 PM

Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

Very obvious, to make the devs of it rich and that's through all of your money including other investors. Do not invest in projects that are obviously not going to do good with your money. They're only there to make everyone entice that they're working for something but it all comes out that all of those are just part of their marketing. And sadly, many of you guys have fallen to their marketing which have been effective on their side.

They are scamming people and since they already have knowledge on how to do this, you can expect that they will come back here with the same fake project to scam the investors again. We can only stop this if there’s already regulations where developers have to register themselves and make then liable if the projects turns out to be a scam. Stay away from a shitty projects who are just using the hype in the market, some projects are too obvious with their weird names.

Right, they'll come back again and will target those victims of them once again. Those victims will never learn from their mistake and will keep on investing in random shit projects that they see that promises great gains and money. Learn from your experiences and don't invest in any random projects once again or else you know the consequences of what you're taking. Give some great value to your conscience and the money that you're investing in because you've worked hard for it. I think once is enough when you've been already a victim of these scam projects and never will be followed by another one. Don't get fooled again by these scammers because they'll repeat it until they hold accountable goes behind the bars.

makishart

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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.

You can learn a very important lesson to never try to buy the shit scam token as long term investment. My question for you is why did you buy that while you have bunch of trusted tokens in the market?
Im sorry but it's also your mistake to easily believe with the scam token. The scammers are always repeating the same method over and over again. They were making shit scam token which consumes only a few dollars and then they will attract people to buy their tokens.

The scammers have premined coin that would be used to dump in your ass. That's an old trick but i don't know why people kept fallen into the same hole.

Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

To run away with people's money. These scammers were only able fooling others to get money. You must be careful when investing in everything.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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?

Dealing up with crypto does have lots of accompanied risks.This is why it would really be just that right that you should be mindful
and somewhat realistic of your investment aims and goals and be wise if ever you do see some red flags. You should bare up on your mind;

1. Scammers would really be creating something that goes in line with the hype
2. Dont believe that Devs/Owners are really that mindful about their investors
3. As long its anonymous or even being doxxed, doesnt assure that they wouldnt run off with the money
4. 95% coins in the market are shit and 5% of them are really having that usecase

Always DYOR, dont make yourself that get impulsive when it comes to investment decisions and dont make yourself get easily
fomo'ed out because this is where mistakes do usually happens.

o48o

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

Are you asking what their aim is? Profit. Short and simple. Not everyone has morals or they have such backgrounds and live in places where they don't afford to have morals.

When you are investing into something new, always assume that at some point they are most likely going to do an exit scam. You'll be safer that way.
Good projects will have real doxxed devs with a proven history of building stuff. If you are investing into anon dev tokens, changes are that you are only going to get scammed. It has been so since from the start.

Johnyz

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Quote from: blockman on May 16, 2023, 04:44:24 PM

Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

Very obvious, to make the devs of it rich and that's through all of your money including other investors. Do not invest in projects that are obviously not going to do good with your money. They're only there to make everyone entice that they're working for something but it all comes out that all of those are just part of their marketing. And sadly, many of you guys have fallen to their marketing which have been effective on their side.

They are scamming people and since they already have knowledge on how to do this, you can expect that they will come back here with the same fake project to scam the investors again. We can only stop this if there’s already regulations where developers have to register themselves and make then liable if the projects turns out to be a scam. Stay away from a shitty projects who are just using the hype in the market, some projects are too obvious with their weird names.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

Very obvious, to make the devs of it rich and that's through all of your money including other investors. Do not invest in projects that are obviously not going to do good with your money. They're only there to make everyone entice that they're working for something but it all comes out that all of those are just part of their marketing. And sadly, many of you guys have fallen to their marketing which have been effective on their side.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

To take money away from you and others who have invested, and then use that money to enrich themselves. BTW you're absolutely spot on: most altcoins are indeed fake and scams, the owners basically create them only to make money for themselves, they have zero use cases, most times plagiaraized whitepaper, impostor team of developers, etc. If you don't want to be scammed with fake/scam coins, then only invest in Bitcoin and forget about altcoins, there are so many of them, so to find a productive one is as good a task as looking for a needle in a haystack.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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?

First most of the alternarice coins that came on board from after the 2017 altcoin boom were 90% fake projects developed by scammers who found cryptocurrencies development as the new thing on board that could be used to steal people's money, most of them don't have any other motive than to lure potential victims into buy into they fake idea.

That is why i never took them seriously because I have heard what most of the shitcoins did to their investors, where they lost almost everything from investing into that scam, I heard in the news that a Bishop also created one coin that end up scamming it investors where they were not able to withdraw their investment.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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?

There aim is to steal people's Bitcoin so they can have more Bitcoin to profit from when the bull market comes. Most altcoins are created because the founders know people are looking for the next tending project to invest into. Wakanda Inu had a good version but the founder had other plans.
Enough money wasn't used to market wakanda inu like other memecoins that millions were been used for the marketing of the project. Coins like Shiba Inu used millions for their marketing and that's why they're very popular today. Wakanda inu founders made alot of money but didn't care about the community.
They abandoned the project and that's what made many investors lose money for investing into the project. If wakanda inu wants to survive they need rebranding and have to disassociate themselves from the Inu trends or they'll be seen as another scam project looking to profits from the name.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 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.

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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.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

I'm sure they want to earn fast money. but i am confused. It seems that African projects are indeed very difficult to be sustainable in market trends. Until now I'm confused about how they developed their project because what I know is that there has never been a project from Africa that has been successful and has lasted until now. it's a good idea to do more research on it so as not to be disappointed with the Wakanda project.

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They aimed to scam people like you who are looking to make an instant profit, how it's possible they scam but they will not get any benefit? it's just a wasting time for them.

That's why you need to make sure you're invest in a project which have a real usage and transparent, not only looking about the token is created in your country, I think when a token created to focus on a country, it's always scam because they know third world countries are full on uneducated people.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

The barrier to entry for creating altcoins or tokens is low enough. That leads people easily create it to scam people.

Their motive is simply outright to deceive people for their own benefit, for example, either outright stealing or slowly scamming their users. Altcoins and tokens markets are almost 99,9% worthless. There is no practical benefit and usage, but an empty promise or an exaggeration of an idea. It is like separating the wheat from the chaff. And those scammers are simply doing their job because of how easy to make them and due to the nature of cryptocurrency pseudonymity.

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Maybe I can say that most altcoins are really high risk, that's why there are many times when you see that it reminds you to always do it at your own risk and do your own research as well.

And I think this is the thing that you didn't do right, so maybe it led to that situation or maybe it got carried away by the hype. And I also think that you were too hasty with the rug pull, imagine that the price used to be around 300$ when you bought it but now the price is only 10$ if I'm not mistaken based on what you said, this should be a lesson to you.

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Anything else that you could share why you think this wakanda is fake? I understand your frustration but even legitimate altcoins suffer the same price drops so that shouldn't be enough to call them as fake. BTC also fell more than 80% few years ago. If the devs are no longer reachable or responding to questions then it's safe to say the project has been abandoned.

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Majority of the altcoins are fake for sure. So you shouldn't have invested into any new cryptos. All these cryptos usually make the creators rich and not the users. In my honest opinion, stick to only Bitcoin and ETH. These are the two cryptos which are widely adopted by the people and have great community support. Rest all have issues and may take a downturn anytime under any circumstances.

These cryptos are usually aimed to make the creators rich within a short period of time and nothing else. They serve no purpose to the crypto market or to the community at all.

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Truly some of them are fake and one needs to open his eyes wide enough in knowing the ones that worth investing on and the ones not to invest on, we need to conduct a thorough research very well, we have to know that altcoi intentions were not to scam investors but people uses such avenue to launch their evil attacks on people's asset invested on altcoins, that's why we must be well assured that the developers are trusted well enough with our investment through the research conducted.

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Quote from: Godlovesyou on May 16, 2023, 08:48:32 AM

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

I don't know the project you mentioned, but the way you shared it reminds me of shitcoins in this market, simply creating according to popular information on social networks, it hits the mark. into the reality of users who lack knowledge as well as material greed. I think there is no need to blame, when the fault belongs to both the people who create the product as well as the people who use it. So in this crypto environment there are many different pitfalls and opportunities, and people need to experience them to know how to distinguish them.

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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?

Topic: Most altcoins are fake (wakanda) (Read 318 times)