Ninety nine percent of new projects are money grabbers

Byakuga

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Quote from: CaVO32 on June 10, 2020, 04:15:24 AM

Quote from: Jawhead999 on June 08, 2020, 06:13:11 AM

What about this, since you know 99% altcoin is only want to scam people and stole investors money... So you need to avoid all altcoin and invest on bitcoin only, right? It's pretty simple to answer your question.

If more and more crypto users will just invest only in btc and other long established alts with real usage, "developers" will think twice of creating money-grab projects. Because if no one will patronize their projects, I don't think they have the motivation to create new ones. Unless, they have their own funding to fully developed their platform and have the sincerity to explore the benefits of blockchain tech on their services.

Partially right but every new coins have a beginning, that's what many investors don't want to miss, all top altcoins and even Bitcoin had a beginning and many are regretting not buying very early when they are still cheaper, it's same thing for new coins now, that's why people won't take their eye off new projects to stay focused on Bitcoin and top altcoins only

Byakuga

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Quote from: Refrumatrix on June 08, 2020, 06:05:03 AM

To me many new projects are here today just for your money, you invest in them and you make them rich, that's why we keep seeing unqualified people becoming developers, it's always about the money, I wish crypto projects are much harder to built, maybe only few scam projects will exists...... I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon

Please for Christ sake let's for once stop thinking that developers aren't here to make money too, don't expect people to work for you guys so that you can make money, what about them? You think they don't have dreams like you do? Think again, it's always about the money

CaVO32

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Quote from: Jawhead999 on June 08, 2020, 06:13:11 AM

What about this, since you know 99% altcoin is only want to scam people and stole investors money... So you need to avoid all altcoin and invest on bitcoin only, right? It's pretty simple to answer your question.

If more and more crypto users will just invest only in btc and other long established alts with real usage, "developers" will think twice of creating money-grab projects. Because if no one will patronize their projects, I don't think they have the motivation to create new ones. Unless, they have their own funding to fully developed their platform and have the sincerity to explore the benefits of blockchain tech on their services.

VDraci

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If you aren't satisfied with the results you are getting from altcoins then you are lucky we have Bitcoin right? Then start selling your altcoins for Bitcoin, it's that simple, we are all here to make money and don't expect developers to think other way around, they are humans too

iv4n

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99.99% all projects are for making profit, nobody will create anything for others to enjoy and to not make profit on that. We can say that even bitcoin is in this group, as we all know satoshi kept his million bitcoins, locked in wallet. It would be crazy for anyone to create something good and to not have benefits from that.
It's a philosophical question, and we can talk about this entire day, bottom line is that we people like to make profit, and we need money. Just 0.01% will create something for free and give others to use it for free, and to not have anything from that, it's a world we're living in, capitalism.

Novatech8

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Not all tokens are scam, some failed not because they have scam enough money from investors but because of other reasons, we have good projects running on ERC20 smart contract like Makerdao, kleros, Cartesi and many others, as a bounty hunter always consider the risks, most bounty projects are scam but not all of them

ghost424

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Quote from: Refrumatrix on June 08, 2020, 06:05:03 AM

To me many new projects are here today just for your money, you invest in them and you make them rich, that's why we keep seeing unqualified people becoming developers, it's always about the money, I wish crypto projects are much harder to built, maybe only few scam projects will exists...... I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon

This might be actually true because we know that there are risks when joining new projects here in the forum. That is why you must always consider some of the risks and check carefully on whether you can gain profit from them. It is hard to avoid these kinds of projects because these projects are easy to promote. The new projects are new opportunities to make more Cryptocurrencies thus we can either support them or not, and that depends on us.

Akiko

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Quote from: shoreno on June 09, 2020, 09:43:16 AM

why would they sell when they already earn a profit ? what if the project was great and thier instincts were wrong ? .

their move looks like hit and run , and they treat ieo as a cloud mining , pump and dump , or other kinds of ponzis where you can only get profit at the start and you must leave asap in order to not get scammed but thats them . there are still people that believes on the potential of ieo's and they treat ieo as different compare to others .

It's a great method for those persons only looking for profit and small traders who just want to earn from the project,besides you will never know if the project you invested will continue giving you profit if you hold it for long. If you are following the ICO since the start of its era, You will have an idea why a project with only ask for funding is not good idea for long term investment .

Even they are working today doesn't mean they can continue working the project using only the collected money. What if they experience bankruptcy or not enough funding to continue the development of the project what will happen to your investment if this things happen?

Saisher

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Quote from: Refrumatrix on June 08, 2020, 06:05:03 AM

To me many new projects are here today just for your money, you invest in them and you make them rich, that's why we keep seeing unqualified people becoming developers, it's always about the money, I wish crypto projects are much harder to built, maybe only few scam projects will exists...... I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon

You cannot invest on every token or coins that comes along it was the tradition back then when we have great developers, but now we have scammers in our industry and they are imitating real developers, people should watch out on and educate themselves on every coin that comes along or being presented to me, scam projects outnumbered the real ones.

bitkanu

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Quote from: DoubleEdgeEX on June 09, 2020, 01:49:57 PM

That´s the reason why everybody needs to conduct his own due dilligence on a potential investment. Never trust an influencer and even less a self proclaimed expert. There are great projects out there, you just need to do some serious research.

DYOR is a must but it's not true to say that 99% crypto were scam. It looks like OP just think if the top coins were not coming from somewhere. He was creating a self-proclaimed without trying to do any research before. He needs to get the fact from the market.

kawetsriyanto

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Have you taken your own research about this?
Anyway, you just joined this year, how can you know more than others about new projects?
Moreover, you mention a specific number, 99%. I'm curious about it, please tell me!! Huh

Honestly, I'm not sure to say how many percent of new projects that really stole people's money. There are many of them, but surely not all of them. There are some new projects that are still growing until now (ex: Ferrum or Cartesi). It is enough proof that there are still some new projects aren't shit-projects which are intended to grab people's money.

dunfida

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Quote from: Refrumatrix on June 08, 2020, 06:05:03 AM

To me many new projects are here today just for your money, you invest in them and you make them rich, that's why we keep seeing unqualified people becoming developers, it's always about the money, I wish crypto projects are much harder to built, maybe only few scam projects will exists...... I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon

Build a token or coin wont really break an arm and leg thats why we do see lots of them flooding out the market.I highly agree on what you have said
ICO investment are only worth wayback in 2017 and earlier, after that in 2018 onwards most of them are just trash, until they do switch up to new
funding system which is IEO which is somewhat better in terms of security that it would be listed on exchange and can be trade but most of the time
these projects turns out to be shit and died/dumped to the floor.

LbtalkL

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Maybe 99 percent only a few were successful and really unique projects, most of them are fraud and scam. Those unqualified people becoming developers you are saying sometimes is just ordinary people and they don't have any ideas that their photo is being used for a scam. There is no solution they keep popping out, the only way is to be more educated about it, and don't be fool by them, never trust suspicious projects, always find facts.

TheClownSong

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Quote from: Refrumatrix on June 08, 2020, 06:05:03 AM

To me many new projects are here today just for your money, you invest in them and you make them rich, that's why we keep seeing unqualified people becoming developers, it's always about the money, I wish crypto projects are much harder to built, maybe only few scam projects will exists...... I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon

Agree, there are many projects that are made just to get investors' money and then not continue the project or do intend to deceive investors. Investing in coins or tokens that have been listed on the exchanger is safer, especially since the coins or tokens that are listed on the exchanger are reputable because it requires extra effort and clarity of the developer team to be able to register on the large exchanger

Kasabus

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So do you think 9 out of 10 new projects are scams and only 1 is feasible? That's too much mate, if you do more research then from 10 projects we can find at least 4 or 5 that are truly worth investing.

Yes. Scammers are very rampant nowadays and they are everywhere wherever there is money involved. But if we can be very careful when it comes to investing, we can avoid those scammers and fall into a legit one. So it's really a must to DYOR first before making such investments so that our own money will not be wasted.

adzino

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Quote from: Refrumatrix on June 08, 2020, 06:05:03 AM

To me many new projects are here today just for your money, you invest in them and you make them rich, that's why we keep seeing unqualified people becoming developers, it's always about the money, I wish crypto projects are much harder to built, maybe only few scam projects will exists...... I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon

Lol, you think those scammers actually build a project? And do you really think it is easy to develop such projects? Those scammers don't build anything. You won't even find a working demo platform from them. All they will provide you with is some bullshit ideas. They will use marketing strategies to make those bullshit ideas sound (and those tokens) really awesome to you!
Its a good thing that it is easy to set up those projects. Though it is your responsibility to check if the project is legit or fake.

Baimovic

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yes, this is all about money. someone who has expertise in this field can easily create fake projects in various ways to benefit from their investors. as an investor you must be wiser before investing in it and certainly don't forget to research more about the project you want to participate in.

bitgolden

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Well, 99% is still leaving that 1% that is not a scam, maybe the ones you faced are in that 1% who knows. Or maybe the odds are around 90% and not 99, but one thing is for sure which is there is a lot more scams than there are legit ones.

People who fail are in the scam category as well for me, you promised people something and failed, that is lying, if you couldn't do it why did you say you will when you couldn't. At the end of the day almost all projects are scams, only a very rare few of them become any good. Those good ones could make you 100x return so people forget about the 50 bad ones, but you did lost a ton of money on those, just because that good one recovered all of that and even profited you doesn't change the fact that the losses were there to begin with.

StephenJH

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There is nothing to worry about, there are still some altcoins, which are really good for investing in. Don't worry about scam projects, we can call them a bad part of this world, also disadvantages of the crypto-world. If you hesitate new projects, just focus on old projects, it is just simple. Or instead of all of them, you must prefer only BTC, maybe it can be more profitable for you.

mersal

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Solution to stop the scammers is just stop investing on the new projects, if we are not feeding them then they won't get evolve or survive here for too longer.We can't say every altcoin is scammy but its better to invest on the existing one and make some decent profits than waiting for huge profits by investing on shit projects.

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