Scammers are good at using the most hyped utility

cafee_orange

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Quote from: Crypt0Gore on January 31, 2023, 03:44:41 AM

There are over dozens of meme coins that are now almost dead or dead already because they are the most trending hype in last bull market.

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish, it seems the Doge and INU race is over, now it's A.I call for scammers.

Most new projects listing on CMC are now having _____ AI name, for example AkitaAI, StableAI etc, there is nothing to be expected of these new projects, they are here to grab some attention that won't last and they will make tons of money doing so, it's always the money race.

based on previous experience when dogecoin surged in the market and shiba inu took part after the Dogecoin movement. In my opinion, the case that you described is almost the same as what was done by the previous Doge and Shiba team, they continued to campaign and even the Doge and Shiba team and community influenced the crypto world at that time so that many investors joined in including Elon Musk. but for the case that you mentioned in crypto AkitaAI, I don't think StableAI will have any effect and they will not succeed in deceiving many people.

dothebeats

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They will really check out on what buzzwords they can use to further their agenda. They will check what the masses think of X feature before they integrate that into their altcoin and market it. That's what most of them are doing and sadly, some are successful in doing so. How would you integrate AI in a cryptocurrency anyway? If anything, you might just as well buy shares from an up and coming AI company if AI is what your main concern is. At least you'll be seeing results and progress, and you'll see your money getting its appreciation over time, too.

BitcoinPanther

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Quote from: Crypt0Gore on January 31, 2023, 03:44:41 AM

There are over dozens of meme coins that are now almost dead or dead already because they are the most trending hype in last bull market.

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish, it seems the Doge and INU race is over, now it's A.I call for scammers.

Most new projects listing on CMC are now having _____ AI name, for example AkitaAI, StableAI etc, there is nothing to be expected of these new projects, they are here to grab some attention that won't last and they will make tons of money doing so, it's always the money race.

Since the use of AI terms becomes a trend because, obviously scam project will use it to their bait in order to make unsuspecting investors invest in their scams. It is always normal that cash grab projects will ride the trend. So we better be careful when dealing or investing in new projects that uses trends and hyped to boast their project popularity.

Quote from: glendall on February 05, 2023, 05:24:17 PM

Fraudsters use the most popular utilities as their main way of cheating, they are experts in their field so they take advantage of circumstances to cheat.
but I can't stop thinking about why CMC gives recipient value to coins that are not clear and don't have good performance just looking at total sales whereas we know now that there are bots to manipulate prices and sales and as we know CMC is everyone's reference in choosing coin ,

True, scammers even make sure that they project is way more legit looking than the legit one. Scammers will do their best in order to gain most favorable result then when all are hooked, they will run with investors money.

glendall

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Fraudsters use the most popular utilities as their main way of cheating, they are experts in their field so they take advantage of circumstances to cheat.
but I can't stop thinking about why CMC gives recipient value to coins that are not clear and don't have good performance just looking at total sales whereas we know now that there are bots to manipulate prices and sales and as we know CMC is everyone's reference in choosing coin ,

KennyR

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Quote from: lalabotax on February 05, 2023, 04:44:43 PM

Quote from: Crypt0Gore on January 31, 2023, 03:44:41 AM

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish, it seems the Doge and INU race is over, now it's A.I call for scammers.

This always happens like previously when the ICO, DeFi, games, NFT, and also other hype projects in the cryptocurrency world happen, scammers always harvest so much money from their victims. Unfortunately, although there have been so many victims and scams, many people don't take the lessons and still become the victim of the scammers themselves. A very high expectation of being rich quickly is the main reason, so they are expecting very high profits from certain projects. And during the hype, scammers can manage and control to get the victims that are too greedy without any good analysis to invest. This has happened many times but still always happening, seems like never-ending scammers

Yeah, it is the human mind that makes them fall for the scammers and loss everything earned. Many people have experienced it and still people does the same thing. This is not because of the people's greed, but the scammers approach which never makes people have doubt over them. As the market keeps widening we'll see more scammers around.

lalabotax

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Quote from: Crypt0Gore on January 31, 2023, 03:44:41 AM

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish, it seems the Doge and INU race is over, now it's A.I call for scammers.

This always happens like previously when the ICO, DeFi, games, NFT, and also other hype projects in the cryptocurrency world happen, scammers always harvest so much money from their victims. Unfortunately, although there have been so many victims and scams, many people don't take the lessons and still become the victim of the scammers themselves. A very high expectation of being rich quickly is the main reason, so they are expecting very high profits from certain projects. And during the hype, scammers can manage and control to get the victims that are too greedy without any good analysis to invest. This has happened many times but still always happening, seems like never-ending scammers

Yamifoud

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Quote from: Dr.Osh on February 05, 2023, 06:09:24 AM

What we need to understand is that scammers are also constantly increasing their knowledge and information. They sometimes make reasonable projects, but in the end, they turn them into scams.

Perhaps, they are making this for a living which makes them push themselves even if it can ruin their reputation. And I believe that they are immune to such things and they will continue their doings no matter what.
Scammers are smarter than us, than normal investors which is why they can easily trick us and fall into their hands. I would admit that I once become a victim of this act, investing in hype projects but unfortunately, all of a sudden my money is gone. That experience gives me the realization and to step out from investing in new projects.

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Quote from: SquallLeonhart on February 05, 2023, 05:05:21 AM

Quote from: Crypt0Gore on January 31, 2023, 03:44:41 AM

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish, it seems the Doge and INU race is over, now it's A.I call for scammers.

I have been watching this trend since side-chain coins/coloured coins. We have experienced lots of scams in the name of ICO/masternode/IEO/Defi/NFT/meme etc etc. At the end of the day, bitcoin is staying stronger and the people who opted only bitcoin found themselves richer and those who risked in trendy hypes might have got chances to see some profits among many losses.

I also got scammed with few POS and masternode coins; when APR is not realistic then it would be better not to touch them and better try LTC/ETH kind of long running coins if you want something else other than bitcoin. Yes, bitcoin should be given first priority and then for 10% of our total capital, we may risk in few selected altcoins.

Apart from bitcoin and ETH, all other altcoin projects can be said to be scams, with no technology, no utility, and no actual application...it's all just a pumping and dumping game. We need to realize that if we want to profit from altcoins, then we gamble, once profitable we should get out, don't think this is cutting edge technology, the technology of the future. All altcoin projects are fake products, the real purpose is still pumping and dumping and disappearing from the market. Cryptocurrency is a money game, it is too early to say this is a technological revolution.

abel1337

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Quote from: Dr.Osh on February 05, 2023, 06:09:24 AM

It's no wonder that now they will use Artificial Intelligence to deceive their potential investors. If we see it, scammers are always trying to deceive investors with something that is currently hype, for example, ICO, IEO, NFT, Meme coin, and many others examples.

What we need to understand is that scammers are also constantly increasing their knowledge and information. They sometimes make reasonable projects, but in the end, they turn them into scams. There's plenty of evidence for that. Therefore, as potential investors, we also need to increase the knowledge and information we have before investing. If you don't want to take the risk out of it or don't really know what research should be done before investing, then the alternative is to only invest in highly trusted assets like bitcoin or popular altcoins.

Unfortunately the target of these scammers are the one who are just starting out on crypto. Trendy things makes people want to take part of it and this is why scammers are doing their best to be included on the current market trend just like you mentioned. Most of these newbies doesn't really have enough knowledge on what they are doing. Most likely they are just there to invest and make money and because the investment they made are on trend, The possibility of making good profit is increase. But yeah, There are scammers know how to pretend good and we will never know that they are a scammer until they made a move on scamming or after they drained peoples money. There are many newbies that just want to make profit and this is proven on the past bull market, We can see how many newbies are getting scammed everyday.

Dr.Osh

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It's no wonder that now they will use Artificial Intelligence to deceive their potential investors. If we see it, scammers are always trying to deceive investors with something that is currently hype, for example, ICO, IEO, NFT, Meme coin, and many others examples.

What we need to understand is that scammers are also constantly increasing their knowledge and information. They sometimes make reasonable projects, but in the end, they turn them into scams. There's plenty of evidence for that. Therefore, as potential investors, we also need to increase the knowledge and information we have before investing. If you don't want to take the risk out of it or don't really know what research should be done before investing, then the alternative is to only invest in highly trusted assets like bitcoin or popular altcoins.

SquallLeonhart

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Quote from: Crypt0Gore on January 31, 2023, 03:44:41 AM

Today the next big thing is called Artificial intelligence and as a coinmarkcap user I am seeing many new A.I projects, I investigate two newly listed on CMC and I found out they are rubbish, it seems the Doge and INU race is over, now it's A.I call for scammers.

I have been watching this trend since side-chain coins/coloured coins. We have experienced lots of scams in the name of ICO/masternode/IEO/Defi/NFT/meme etc etc. At the end of the day, bitcoin is staying stronger and the people who opted only bitcoin found themselves richer and those who risked in trendy hypes might have got chances to see some profits among many losses.

I also got scammed with few POS and masternode coins; when APR is not realistic then it would be better not to touch them and better try LTC/ETH kind of long running coins if you want something else other than bitcoin. Yes, bitcoin should be given first priority and then for 10% of our total capital, we may risk in few selected altcoins.

WalkerIVIV

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Quote from: GideonGono on February 03, 2023, 01:48:47 PM

Of course scammers would use anything that they could in order to earn that is what they do for a living.
It is our job as an investor to know which one is real and which projects are fake.
Most of the time they are successful due to the investor's greed, they would try to imitate the successful or trendy projects with a lower entry price so that the newbie's would jump on them.

it's always best to educate so that we could distinguish real project with fake ones.
most of the time people that are too greedy are uneducated ones, they think they are special individual choosen to be rich by the devs
meanwhile that's all just illusion honestly, because the devs themselves also wanted to make money off you.
there's nothing but illusion of chance in generating profit will all these shitcoins usually.

JeffBrad12

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Quote from: uneng on February 04, 2023, 05:07:18 PM

In a speculative market there will be always demand for such products, even though a portion of investors know what these investments are about and invest anyway, hoping to be early adopters, so they can make some profit before the scheme collapses, just like the mindset of hyip programs' early investors. I won't deny there is chance of profit on such investments, but due to the lack of fundamentals and solidity on these projects, personally I prefer to avoid them.

that's 100% true, it's just hyip scams all over again, it's just like when people following ponzi trying to be number 1 basically profitting off the late people that have no idea what they are truly investing into, same thing with these kind of shitcoins that was used for money grabbing.
even if some people understand 100% that these kind of coins is just waiting for its collapse or will eventually have no value they are still trying to bet their money into it because they know there's gonna be other victim that they could use for liquidity, they are trying to compete with the devs of these shitcoins but we all know who's gonna win, it's always the devs that could manipulate the market heavily and also posessing huge chunk of coins because shitcoins tokenomics are shit in the first place.

uneng

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Quote from: JeffBrad12 on February 03, 2023, 05:17:58 PM

Quote from: GideonGono on February 03, 2023, 01:48:47 PM

Of course scammers would use anything that they could in order to earn that is what they do for a living.
It is our job as an investor to know which one is real and which projects are fake.
Most of the time they are successful due to the investor's greed, they would try to imitate the successful or trendy projects with a lower entry price so that the newbie's would jump on them.

This might be true, there's pattern in regards of some of the shitcoins that was created and I think it's true that some of the shitcoins might be coming from the same team for money grabbing.
they are keep creating more and more shitcoins hoping that some might fall and "invest", it's more rampant in meme coins where every day quite literally there's release of new meme coins because meme coins are already shitcoin in the first place so they don't have to get too invested in creating whitepapers etc.

In a speculative market there will be always demand for such products, even though a portion of investors know what these investments are about and invest anyway, hoping to be early adopters, so they can make some profit before the scheme collapses, just like the mindset of hyip programs' early investors. I won't deny there is chance of profit on such investments, but due to the lack of fundamentals and solidity on these projects, personally I prefer to avoid them.

bhooscream

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Because they know that inside hyped things, therr are many people with high expectation to get money as soon as possible highly. And some of the people are greedy, newbies, or even someone who doesn't really undertand about it. Tjat is why they become the easoest people to scam and they can sxam them easily

JeffBrad12

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Quote from: GideonGono on February 03, 2023, 01:48:47 PM

Of course scammers would use anything that they could in order to earn that is what they do for a living.
It is our job as an investor to know which one is real and which projects are fake.
Most of the time they are successful due to the investor's greed, they would try to imitate the successful or trendy projects with a lower entry price so that the newbie's would jump on them.

This might be true, there's pattern in regards of some of the shitcoins that was created and I think it's true that some of the shitcoins might be coming from the same team for money grabbing.
they are keep creating more and more shitcoins hoping that some might fall and "invest", it's more rampant in meme coins where every day quite literally there's release of new meme coins because meme coins are already shitcoin in the first place so they don't have to get too invested in creating whitepapers etc.

Wiwo

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With the hype comes the scam, investors should be warned to keep off from most hype projects because a lot of them have led to massive lose in the past and we need to be cautious at this moment to avoid falling into this scheme called projects with lots of hype but no usercase and ecosystem to support the acclaimed popularity and hype.
* This project can easily pull an exit scam and dump coin on the face of investors, take Luna tera coin for example.

Yatsan

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As long as there are people falling for schemes, scammers would exist. The best way for them to do such things is to take advantage of what is popular and those are hyped projects. Indeed this industry revolves around demand but be sure you are following the right path.

Quote from: ?? on ??

From experience, these projects have been created by same teams who keep continuing same cycle until reaching threshold. The useless ideas and worthless tokens are there for reason, even if someone from 100 viewers fall in trap it is profit for these scammers. Imagine how much "investment" they get each month on tokens that have no market value or it will never be listed on C grade crypto exchange.

Indeed thre are instances wherein scammers just changes name to victimize people. As long as people are still not learning from scam instances, they'd just continue doing it because they are making profit out of it, as simple as that. This is also a not so gentle reminder to be mindful of what you are engaging to simply because it is money we are talking about. We all need to be extra cautious.

GideonGono

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Of course scammers would use anything that they could in order to earn that is what they do for a living.
It is our job as an investor to know which one is real and which projects are fake.
Most of the time they are successful due to the investor's greed, they would try to imitate the successful or trendy projects with a lower entry price so that the newbie's would jump on them.

virasisog

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Scammers always look up to what's on trend so they can scam people easier and can attract more willing victims to fall for their trap.
Hyped utility coins can be their best asset since lots of people are hooked to them. They will always make money based on the trend so unlucky are those who will fall for their trap.
They can scam through different ways and might as well do everything so their project will look trusted and legit. So once we see that they are offering too good to be true rewards and profit, better do research first and stay away from them.

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