Topic: Ninety nine percent of new projects are money grabbers - page 4. (Read 655 times)
it is alway's the same , where easy money is being made there always come other people for who normal chances are not enough and are trying to scam people by making fakeproject's, so you are right , we have to be carefull , but that was alway's the same , think what you are doing
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
in my opinion there is only one solution, namely the legality of a project must exist, and be registered in the government, then investor funds will be safe, I hope before the ICO project starts registering it in government, then that will make ICO more popular again 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
The technology is open-sourced and there are application like Ethereum, Minerium, and Waves that makes it easy to create your own token, this is why we should be properly educated on what to look and how to look on every project that are coming our way, not easy but it's a must.
I think you have a point there buddy! things have changed so much in the crypto industry today. because it was easy for those scammers to build a so-called crypto project without giving much time and resources needed. because there are plenty of crypto-related businesses that offering those kinds of services today unlike before it was only a few platforms and services offered those services thats why those fraudsters are in a hard time setting up those faked projects. thats why I think your 99% estimate is true that Ninety-nine percent of new projects are money grabbers. thats why always observe vigilance.
This might case to case basis, I think not all projects are going to scam nowadays!
I have doubt that the most common developer of scam projects are the same after they successfully scamming people, they will come back and build again a scam project and lured people or investors with their sweet promises.
We shouldn't immediately believe to them, the best thing is we should have DYOR in our self if how legit they are. Checking the team and the white paper is the first step of knowing your project that you are going to invest in if worth it.
I have doubt that the most common developer of scam projects are the same after they successfully scamming people, they will come back and build again a scam project and lured people or investors with their sweet promises.
We shouldn't immediately believe to them, the best thing is we should have DYOR in our self if how legit they are. Checking the team and the white paper is the first step of knowing your project that you are going to invest in if worth it.
I know how easy it is to built erc20 token and website too, God have mercy on investors, I hope solution comes soon
Then even its easy are you sure you can manage to make it big? Sounds like you are looking down on some projects that you are seeing. Yes there is no doubt that this business has a lot of scam projects but your attitude telling me that arrogant cant really suffice for success.There are many solutions to these scams. One of it is very easy and its prevention. Only fool can invest on a new project without doing any kind of diligence on it. So far those who rekt does this mistakes.
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
If you hope in God, then everyone must improve their intention to deceive, and if you hope for a solution for handling fraudulent projects, then pray that scammers can die quickly so as not to give birth to new scammers.
Let us be honest with ourselves and speak truth to every situations, every crypto currency project in this space are money grabbers, nobody wants to invest without earning profits.
Any crypto currency project that is not profit oriented cannot succeed in the crypto currency space; you need to have passion and zeal to succeed always.
But greediness causes way more troubles though; and it is one reason why platforms do not succeed.
Any crypto currency project that is not profit oriented cannot succeed in the crypto currency space; you need to have passion and zeal to succeed always.
But greediness causes way more troubles though; and it is one reason why platforms do not succeed.
You would rather say 99.99% of new projects are scam and they don't come with even a good idea. But a lot of poor investors rush to invest on such project although these days the investors are getting smart. It's always better to stay away from altcoin because there are many ways of scam too.
Crypto industry in the nutshell. Thats why it better to invest in popular and reliable projects
It is true that many ICOs are scams, but now many new projects have switched to IEO for token sales, because this will reduce the continuing fraud
I think what the OP means here was his personal experience with the new emerging project that offers some bounty. The only problem here is you need to carefully check whether they really have what they offer or not. you need to research their road map and their team if they really exist because some of those new projects only stole their white paper from the old one and modified it a little and claimed it as if they're the ones who made it. Sometimes they offer some good to be true offers so that you will be attracted to invest in them but at the end of the day they will run with your money and disappear in a tin air.
That's why you only invest in coins/tokens that already have a working product or at least an alpha of what they are suppose to do. Most investors nowadays are just investing left and right, hoping that they will struck gold if they invest in a new project. Most just fail.
That thing here is that, even research won't mean much if the project really have worked hard to disguise their scheme. He is not making it look like all of tokens are scam but he is saying that new coins tend to be a scam most of the time. It's true that because it's easier to build, scammers and fraudsters have easier time to make a project and scam some investors.
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 are making it look like all erc20 tokens are scam projects because they are easier to build than other blockchain projects, the fact is you need to do research on some projects running on smart contract, not all of them are bad, most tokens have real use case and some are just scam like you said but not all of them.That thing here is that, even research won't mean much if the project really have worked hard to disguise their scheme. He is not making it look like all of tokens are scam but he is saying that new coins tend to be a scam most of the time. It's true that because it's easier to build, scammers and fraudsters have easier time to make a project and scam some investors.
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
ICO has been a place for people with less experience and dedication to raise funds. The 99% money grabber are those who won't get a loan from banks and friends, one whose project gets no interest by any investors and those that can't even afford to get a business license or rent a room for office.
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 are making it look like all erc20 tokens are scam projects because they are easier to build than other blockchain projects, the fact is you need to do research on some projects running on smart contract, not all of them are bad, most tokens have real use case and some are just scam like you said but not all of them.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 are making it look like all erc20 tokens are scam projects because they are easier to build than other blockchain projects, the fact is you need to do research on some projects running on smart contract, not all of them are bad, most tokens have real use case and some are just scam like you said but not all of them. 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.
That's right, why do they still want to invest in a new project knowing that it's just a scam. Just stay away from new projects and invest in top altcoins in this market, I believe they will never be fooled. 
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
They see the crowd funding as an opportunity to earn money yes you right more of them just want investors money, no real plan for the project after they receive a lot of investment.One thing is for sure if there is a money involve there is always a scammers finding ways to get that money from investors.
Thats why we dont need new projects in crypto right now. All of them are shitty and they are not bringing something new
if you say 99% I don't agree because there are still a few projects that are still worth investing in maybe if you say 80% then I can agree and to avoid that it is better to invest in altcoins that are truly developed
Jump to: