Newbies do not be fooled by developers

Outhue

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Quote from: asawale on January 04, 2023, 01:09:20 PM

Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

Strange, most newbies I have come across have high interest in altcoins and you sound like you don't even know what to invest money on, it shows that you don't know much about crypto, it's better to spend your time doing some reading about crypto before anything.

We have coinmarketcap and coingecko, they are crypto platforms that have all the records of both new and old crypto projects, website links, token supply and so on.

Cryptomultiplier

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Eloncoin.org - Mars, here we come!

I think one of the pecs of being a member here is to ensure we learn the tricks from others' experience on how to out smart these so called developers. So as a newbie, it is worthless to be here and not survive these times.

Aanuoluwatofunmi

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Quote from: Outhue on January 04, 2023, 12:49:36 PM

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

You're absolutely right because all they do is repackaging which many don't understand, that's why it's been encouraged that newbies should avoid other cryptocurrencies and start with bitcoin, things like this are part of the reason because when they are into it already, they can't afford not to loose because an attack will always be successfully made as long as they have fallen into their hands, many newbies have only little exposure about crypto projects, they actually don't want to het scammed and choose cryptocurrency but not knowing that there are scam projects as well in crypto together with their shitcoins and not until you have good knowledge and experience enough to understand these one may always fall their hands.

kamvreto

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Most of the developers who commit fraud are only interested in investors' money. The more that enter, the more money they get. Only with an old project which was then overhauled to be like new and doing a testnet. Brands also usually implement KYC at the beginning to be able to take part in the testnet or some of the airdrops that have been carried out.
Currently projects with Tesnet and running nodes are quite popular, and many new people are starting to follow them. Doing research first is highly recommended, to find out whether the project is really a new project being developed or just a manipulative project. Don't fall for such methods.

cryptomaniac_xxx

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Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

Or can we say that the market is really saturated by now, with thousands of projects but some of them are just a copy cat of each other.

Maybe there are some developers who really wanted to change the game and disrupt the industries, but as of now, there are no new projects that have this kind of categories and maybe majority of them are here to scam blatantly so to speak.

So it's a duty for each one of us to be very careful and then call out scams and give the community a warning.

Getmon

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We have observed for a number of years that developers are switching projects frequently. Developers can take money from their investors when a project fails. They will get back to work on another project after several months of hiding from its scammed investors. The use of pseudonyms by developers, who will attempt to market it like bitcoin founder Satoshi Nakamoto, is another fraudulent strategy. However, additional regulations will be implemented following the largest loss of investor funds that occurred last year, which was led by Bankman-Fried and Do Kwon. Perhaps the year of regulation is upon us.

Upgrade00

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Professional Community manager

Quote from: asawale on January 04, 2023, 01:09:20 PM

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

Telling a newbie that 99% of projects are scam is an advice.
Telling them that they should stick to established coins like Bitcoin is a good advice.
Telling them to do their own research is also a very good advice.

If you're interested in investing, you can also research on how to 'research' new projects. There are a number of helpful replies here on he forum, you should be able to find them and use the information.

cryptoaddictchie

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Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

Maybe they are just really trying out if there will be bait on their new projects. Thats how a dev works, keep building and see if this new one is better than the old one. There are plenty of devs already left their old one to a new one and they keep doing that for the last few years. Some followed them keeping the hype on this new one and make money with that. Its just simple actually, cause there will be a lot of money on new player or project.

lovesmayfamilis

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✿♥‿♥✿

Quote from: Accardo on January 04, 2023, 06:51:19 PM

A thread similar to yours, OP, has already been moved to altcoin section some hours ago. I thought maybe the same person created the thread again, just like what you're insinuating on your thread, most developers run back to create something similar to their previous project if it gets caught or fails. Hopefully you are different from the other OP Grin

https://bitcointalksearch.org/topic/the-dev-is-not-your-friend-so-be-careful-5432805

Thank you. I thought I had déjà vu.
OP, you're an old enough member; why create a similar thread? In addition, you wrote superficially about the need to conduct your own investigation and did not explain exactly what you meant by that. By calling all developers scammers, you accuse them of being unfounded, but it would be better if there was some definite evidence.
Any project, even well-coordinated, in our time has a very precarious position. In times of crisis, building your own business is always fraught with failure. But on one point, I completely agree with you that it is very difficult to create something new at a time when even old projects are crumbling like sand houses.
Bitcoin remains the only safe haven, but for lovers of risk, of course, a huge selection of altcoins is provided.

fadhilz123

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Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

This advice is strictly for investors and it is very good for those who like to invest in new projects, but I don't think all investors are stupid. Because there are also not a few investors who don't like new projects, so not all investors are stupid even though there are some investors who forget to research new projects and immediately get into it.

Quote

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

This is very possible because I have also seen a new project with the same concept when it was built and the project team only polished the outside of the project to make it look new in everyone's eyes. Especially in the eyes of investors, even though it's a part that shouldn't be immediately believed before they thoroughly research it or all of it. And I agree on the point of researching more diligently when I see a team promoting a new project.

Marvell1

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Quote from: asawale on January 04, 2023, 01:09:20 PM

Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

The best way to avoid all of that, as a newbie, you just to invest in bitcoin, don't be greedy just because of false promises about altcoins, just invest in bitcoin, and you will never get scammed.

Investing in altcoins is extremely risky, even if you are an experienced investor, you can still lose money investing in altcoins. There is no specific formula or trick to determine which projects will not scam or which will. Only invest in altcoins when you are willing to take the risk, and there is no such thing as a low risk high return investment.

Note3

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It's not surprising that there are many newbies who are fooled by developers because not only developers focus on money but newbies themselves also focus on profit and they are very easy to be fooled just by reading other people's posts that this project is legit and so on, most of newbie even don't have clue about good project because mostly just copycat and doing research seems like a waste of time for fear of missing the train.

Actually, both developers and investors don't care about the product that will be produced by the project whether it will be useful or provide something different to the blockchain world because the main target is profit, a project that looks good will be bad if investors lose.

_act_

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Quote from: Outhue on January 04, 2023, 12:49:36 PM

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

The government are getting late for proper regulation, the government like to focus most on exchanges but there are still those so called altcoins decentralized exchanges that scammers are using successfully. Even most now projects are fake, many are failed, there are some that their developers are greedy and they dump the project, many are for scam from its beginning. There are thousands of coins that are existing now, but I prefer not to buy a coin that do not have a good marketcap. Out of all bitcoin is the best.

Die_empty

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Give all before death

Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

I would not generalize that all new crypto projects are fake because bitcoin started one day like some of them. But I am sure that only few new projects in the cryptocurrency space are genuine, the majority Of them have a short lifespan. Any project that promises outrageous profit in a short time should be avoided because they are scams. The best advice is to invest in a coin you have confidence in based on track records and lifespan. I don't have the stomach to handle the uncertainties of shitcoins, that is why I only keep bitcoin.

Accardo

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A thread similar to yours, OP, has already been moved to altcoin section some hours ago. I thought maybe the same person created the thread again, just like what you're insinuating on your thread, most developers run back to create something similar to their previous project if it gets caught or fails. Hopefully you are different from the other OP Grin

https://bitcointalksearch.org/topic/the-dev-is-not-your-friend-so-be-careful-5432805

Kelvinid

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when lambo...

Quote from: asawale on January 04, 2023, 01:09:20 PM

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

I've got your point dear. Actually, it was really hard to spot a project if it was a scam or legit because some developers are too clever and really doing their best to hide their real intention. But for a newbie like you, it was the best option to invest in old projects while you are still learning crypto. Don't make your life too hard but rather make it easy by choosing reputable coins which most investors had chosen.
OP is right, scam mostly happens to new projects. So, why we should try them in the first place if we know that most of them are scams?

darkangel11

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Defend Bitcoin and its PoW: bitcoincleanup.com

Quote from: pixie85 on January 04, 2023, 01:28:25 PM

Why do you want to invest in the space?

It's an important question because if you're a newbie with a lot of money but 0 experience, you should not be getting in just like that. It's reckless to put a lot of money on the line.

A newbie with no experience and little money should look to dollar cost average into bitcoin first. It's the safest route that won't get you scammed.

If you really want to get into altcoins get some bitcoin first and buy yourself some time to think about your next moves. Maybe you'll find out that altcoin market is too volatile for you or that you don't have time to watch all these projects.

Rule 1:
Before you buy any shitcoins, buy bitcoin. At least after losing money on shitcoins you'll still have something worth keeping that's going to eventually bring you some profit.

Rule 2:
Investing is exposing yourself to risk. You buy bitcoin you expose yourself to the risk of bitcoin failing. You buy altcoins you take double risk because if bitcoin fails they fail and they can also fail on their own. Double risk should equal double reward, but does it?

coupable

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Quote from: asawale on January 04, 2023, 01:09:20 PM

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

Whether you are an experienced investor, trader, or regular user, you should not miss the fact that investing in cryptocurrencies is very risky. The level of risk can be summed up in two points:
- Investing in new cryptocurrencies means investing in new projects that we are often unaware of the various details of, and even the research process is difficult due to the absence of the necessary information to ensure its credibility. Even if information is available about the vision of the project and the work team, this does not guarantee its success to any extent.
The best that can be done in this case is to verify the work team and preliminary evaluations from experts in the field of project activity.
Personally, I recommend using Bitcointalk forum to verify projects, whether by searching for discussions or asking questions.
- The instability of the price movement and its volatility are what increase the risk of investment, and for this reason, beginners are always advised to invest in major cryptocurrencies that have a good position in the market. This ensures investment in reliable projects whose prices are relatively stable.
Personally, I always recommend investing in bitcoin as one of the safest investments in the crypto market.

pixie85

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Quote from: asawale on January 04, 2023, 01:09:20 PM

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

Why do you want to invest in the space?

It's an important question because if you're a newbie with a lot of money but 0 experience, you should not be getting in just like that. It's reckless to put a lot of money on the line.

A newbie with no experience and little money should look to dollar cost average into bitcoin first. It's the safest route that won't get you scammed.

If you really want to get into altcoins get some bitcoin first and buy yourself some time to think about your next moves. Maybe you'll find out that altcoin market is too volatile for you or that you don't have time to watch all these projects.

asawale

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Quote from: Outhue on January 04, 2023, 12:49:36 PM

Many projects are starting to show up, some are testnet phase as we speak but I am not interested in any because they are all same old projects with different names, I could say that developers think we are all fools but what about those investors that are too stupid to think and do good research?

Almost 99% of new projects are same copies of the old projects with different name, do not be a fool investors, spend time to do your own research.

Developers mostly don't have your interest at heart, we all know it's all about the money but they aren't doing something new that worth our money, make sure you do your diligent research.

I have read series of posts advising us to do our research very well before investing in any project but as newbie, most of us don't even know what to research. What are we to look into before getting to know if a project is cool or scam?
The help needed by the cryptocurrency newbies is not to be caution but how to be cautious of what to invest into.

Topic: Newbies do not be fooled by developers (Read 167 times)