Topic: some of the points and problems that have occurred in the crypto industry. - page 3. (Read 521 times)

KYC is over, many people don't trust KYC because there are many cases of misuse and sale of personal data. I've even seen some ICO projects use other people's data and they put it as one of the development teams. somehow they can get it for sure it all started from too easily people give their personal data.

so we can't guarantee whether the project is quality or not, because it's too easy to fake.

I appreciate some of your points above and it really happened in this market and may still continue to this day, tomorrow and so on. crypto has a large space so scamers also feel free to fool someone who is weak, you must always be prepared to accept all risks in the crypto market.

I am also against on KYCs for bounties but let's say if it's purpose was to prevent criminals to use bitcoin in illegal activities kyc can help. If you hold a large amount of bitcoin and you earned it in a clean way then you don't have to be afraid to submit your info. But ofcourse be wise where you submit it, make sure they can be trusted and they can be responsible keeping it private.

I say that it is true, currently many projects are used as fraud that only seek profit for a moment, regarding their KYC there are many ways to avoid fake accounts following bounty campaigns, KYC to follow bounties does not make sense. We are in a crypto world that must remain anonymous. Of course it has its own opinion whether to accept KYC or not, Because there is no guarantee that our documents will be used in a good manner, there is no risk.

perhaps verification of documents is necessary, but I think that for bounty hunters, an SMS code on the phone is enough, and say mail

In every multi-account bounty I often see it and that is mostly on newbie accounts, but I am also surprised that the prize manager does not do more selective checks on multi-account participants, if this is left then the bounty manager's performance is less professional and this there is also an impact on the exchange when the token will be listed.

These problems have long been known. As for multi-accounts, company managers must do their job correctly and well in order to weed out honest participants.
The main problem of the market is the difficulty in raising funds, price volatility due to high volatility, which does not allow new money to flow into the market.
Projects creating the next useless coins do not live long.

You have mentioned two factors that I agree with and they are fraud and lack of growth of altcoin price.
Icos have scammed a lot of investors including me too 
Also because price don't appreciate easily, many people don't want to buy. They are not sure of how price will go. You can hodl a coin for a long time and some fake project can not increase rather, they are delisted.

Scammers always take advantage of all opportunities to cheat. New investors, bounty hunter newbie, fall prey to being easily fooled. So, I suggest to all to learn and understand this cryptocurrency ecosystem as well as possible, so that we can fight the deception and prepare effective preventive measures.

Bounty managers are no guarantee that a bounty campaign will succeed. However, bounty managers who are experienced and have a good reputation must have considered before deciding to handle a bounty in order to maintain their reputation. Unfortunately, due to unfavorable market conditions, and various other problems, making most of the cryptocurrency fields less pleasant, it also impacts on the bounty, so that many scams and bounty managers feel the impact.
One of my criteria in choosing a bounty manager as consideration for joining a bounty is that it works professionally and seriously handling multiple accounts.

I agree with all of your points and all of them are spot on, for example like with regulation unable to eliminate the scammers completely, relying on regulation to solve this issue is delusional. There is no way we could fix this and the only way to reduce it is by doing research about everything we want to do.
and I experienced it by myself about number 4, I involved with a project that has its own product and can be considered as a quality product because they got a prize in some event before. But the project they started out did not work well, they are only focusing on what they are doing and do not really care about the investor and their community. Causing the community to panic and feel helpless, crypto is in a bad shape right now.
not only because of scammers but the project itself makes crypto looks so terribly bad.

Indeed, particularly on some fraudulent projects. It is still one of the problems these days which is literally hard to resolve because up until now a lot of us are still experiencing this kind of problem. For that reason, its difficult to find a worth it and trusted project. Well it had a huge impact on crypto and to us, because of our past experiences regarding on those projects we had some trust issues but despite of that were still here supporting crypto and believing that someday we are able to overcome that kind of struggles.

I am joining your frustrations with many things that continue to hound the cryptocurrency market affecting new projects and gradually eroding the confidence of the many investors and supporters. We have to admit that things are not looking good as we are always dealing with scam projects and those who just failed big time due to many factors beyond our control and influence.

Sadly, the industry can not be giving the right solutions to these problems and it seems to me that actions from regulatory bodies may not be enough to arrest the tide of bad tidings courtesy of people who put their own selfish interest above what can be good for the projects and its believing supporters who are shelling out money putting trust on them but at the end feeling just betrayed.

There is the need to stop frauds right before they started by making sure that a project are manned by real people who are experts in their chosen fields and will really work to make sure of the project's success no matter what. I am then for strict regulation if that can take to clean this industry of its bad apples.

There are so many problems that have occurred in the crypto market such as project fraud, altcoin is difficult to grow in price, many FUD news about crypto and also many projects that do not pay participants and there may be many other negative things even before or during the next day again.

but for me KYC is not really needed for prize hunters or a necessity to redeem their tokens. in most cases I have completed KYC and finally I did not get my prize. like the most painful fraud cases like the Jinbi project, I want to cry at the price of JNB tokens - $ 13, if $ 13 x 1000 tokens =? maybe I have become a millionaire

But KYC is the only way to redeem some coins earned by bounty hunters. They have no choice at all but to comply. For sure they are not customers but since they will be among those to whom the tokens are going to be distributed, they are also treated as customers or token owners.

KYC can easily be faked these days whether it maybe users or team developers. No one must take their investment decision solely based on KYC results. For bounty hunters it is a tideous task. They are not investing anything and they are not customers so there is really no need of KYC for them.

Company decisions are influencing its future, and it does not matter how good the product is, how big the community is or even how good the price is, if it is leaded by dishonest and greedy management, there is only one realistic end for this company.

never invest your money in the wrong place or as easily as when you sell investments at high prices. Scamers are always everywhere & they are like crocodiles waiting for their prey.

1. regulations are not the golden bullet to fight scamers and scamers cannot be eliminated, they are corrupt criminals, they are the biggest problem in the cryptoqurrency industry.
2. KYC The bounty hunter
#. can at least reduce cheating or multi-accounts.
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
3. many new companies run their own programs but generate a lot of scams and junk tokens. and I hate saying allocation cuts when sales end successfully.
4. A quality product is no longer a guarantee of the success of a project, and even good marketing does not mean that it can attract market investment. or maybe this is all influenced by a market situation that is still weak.

and the last point ... I see many famous prize managers engrossed in money, they forget when they get public trust when they first manage a project, they have now misused crypto as a ponzi scheme of getting rich, red trust has become a symbol of their account. I will not depend on the gift manager anymore. What do you think? a few points above the results of my observations so far.