Yes basically everyone assumes initially cryptocurrency was just garbage. That's right. Some in cryptocurrency is junk therefore investing here has a high risk. But on the other hand we see like bitcoin, ethereum, BNB has become public and many people already believe that cryptocurrencies have a good change.
When the cryptocurrency can get its popularity, those people will open their eyes that crypto is not garbage and will try to find out more and involve deeper in the crypto world. Cryptocurrency becomes bigger when some altcoins such as ethereum, bnb, litecoins and other old coins can lift the price and makes people see and not underestimate the existence of the altcoin. So they are starting to use altcoins to give them more profit and many of them are really making a big money from crypto. 
Topic: The altcoin market has become scammer's playground - page 3. (Read 761 times)
Don't you think such gold rush has to stop at some point.
Nah! I don't think it will ever stop. It's the same way one would ask if prostitution will ever stop. Scamming, robbery and prostitution are about the oldest vices. Someone will even argue that they're the oldest kinds of jobs. We witnessed a lot of scams in 2017. Some people got scammed and learnt from it, and then moved on. It's the same way a lot of people will get scammed now and we hope they too will learn from it and move on. No matter how one wants to sound this note of warning, there are people who won't want to heed to that warning. They think every token is going to be a banger, especially those ridiculously cheap ones. People want to invest $10 and earn $100,000 from it. That's why a lot rush to memetokens in their quadrillion supply. Nothing else. 
Yes basically everyone assumes initially cryptocurrency was just garbage. That's right. Some in cryptocurrency is junk therefore investing here has a high risk. But on the other hand we see like bitcoin, ethereum, BNB has become public and many people already believe that cryptocurrencies have a good change.
After the initial success of Shiba Inu coin, I am observing that the altcoin market has become a playground for the scammers in most literal sense.
There are multiple projects now, which are showing 28000% return within just few hours of launching and then showing a steady decline. There are multiple examples,
Squid games: Defunct
Shih Tzu coin: https://coinmarketcap.com/currencies/shih-tzu/
Solar energy: https://coinmarketcap.com/currencies/solar-energy/
Mini BTC: https://coinmarketcap.com/currencies/minibtc/
Etc.
There are many others as well. It is a money laundering heaven. Don't you think such gold rush has to stop at some point. Otherwise cryptos will never be able to make its way into the mainstream world. People are buying from craps to garbages in the name of cryptos.
Voice your opinion.
Yeah specially now that some projects owners doesn't want to reveal their identities and even revealed, they still do scams. Like Shrew who aims to be the next generation reward system who used Chainlink and other big names just to pump then at the end die like shit. Its quite unfortunate to those who really invest for long term hoping for a high return in the future. There are multiple projects now, which are showing 28000% return within just few hours of launching and then showing a steady decline. There are multiple examples,
Squid games: Defunct
Shih Tzu coin: https://coinmarketcap.com/currencies/shih-tzu/
Solar energy: https://coinmarketcap.com/currencies/solar-energy/
Mini BTC: https://coinmarketcap.com/currencies/minibtc/
Etc.
There are many others as well. It is a money laundering heaven. Don't you think such gold rush has to stop at some point. Otherwise cryptos will never be able to make its way into the mainstream world. People are buying from craps to garbages in the name of cryptos.
Voice your opinion.
Completely agree.
The gold rush has really gotten out of hand and there are a ton of fraudsters that are just capitalizing on this opportunity.
There is really no excuse for people to be investing in these coins. You are not just risking your own capital, but encouraging this type of behaviour from scammers.
Unfortunately most people do not care, they care about one thing and one thing only and that is the profits they can get, and this means that for people like that a project is as good and legitimate as the profits they get, so if they lose money the coin was a scam, which is why we have so many people claiming bitcoin is a scam, and if they earn money then it is a legitimate project, they do not understand that even if they earn money that money came from other people that were scammed and they were just lucky to avoid the same fate, and if they keep doing this then sooner or later they will be scammed as well.The gold rush has really gotten out of hand and there are a ton of fraudsters that are just capitalizing on this opportunity.
There is really no excuse for people to be investing in these coins. You are not just risking your own capital, but encouraging this type of behaviour from scammers.
Completely agree.
The gold rush has really gotten out of hand and there are a ton of fraudsters that are just capitalizing on this opportunity.
There is really no excuse for people to be investing in these coins. You are not just risking your own capital, but encouraging this type of behaviour from scammers.
Unfortunately most people do not care, they care about one thing and one thing only and that is the profits they can get, and this means that for people like that a project is as good and legitimate as the profits they get, so if they lose money the coin was a scam, which is why we have so many people claiming bitcoin is a scam, and if they earn money then it is a legitimate project, they do not understand that even if they earn money that money came from other people that were scammed and they were just lucky to avoid the same fate, and if they keep doing this then sooner or later they will be scammed as well. The gold rush has really gotten out of hand and there are a ton of fraudsters that are just capitalizing on this opportunity.
There is really no excuse for people to be investing in these coins. You are not just risking your own capital, but encouraging this type of behaviour from scammers.
this action has been there for a long time, they use altcoin to make profit. but, there are many people still try to have their value, because, maybe they get luck. we never know who the true and the scam coin.
thats why, if someone ask about altcoin, just say about popular coin, or back to bitcoin. its hard to take newcomer in crypto, but there are many popular that give you profit.
thats why, if someone ask about altcoin, just say about popular coin, or back to bitcoin. its hard to take newcomer in crypto, but there are many popular that give you profit.
It will always be a scammer’s playground as the crypto community hasn’t yet regulated. So management can easily go away with investors’ money if they wanted to. What we can do about this to mitigate the risk of getting scammed is to know the project deeply before investing. If you plan on investing for a long term, make sure the team is solid and transparent on their identity.
blockchains can't be regulated so such scam projects will appear regularly. many people just want to receive easy money and such projects is the result of demand.
After the initial success of Shiba Inu coin, I am observing that the altcoin market has become a playground for the scammers in most literal sense.
There are multiple projects now, which are showing 28000% return within just few hours of launching and then showing a steady decline. There are multiple examples,
Squid games: Defunct
Shih Tzu coin: https://coinmarketcap.com/currencies/shih-tzu/
Solar energy: https://coinmarketcap.com/currencies/solar-energy/
Mini BTC: https://coinmarketcap.com/currencies/minibtc/
Etc.
There are many others as well. It is a money laundering heaven. Don't you think such gold rush has to stop at some point. Otherwise cryptos will never be able to make its way into the mainstream world. People are buying from craps to garbages in the name of cryptos.
Voice your opinion.
It's sad that things like this will continue to happen and will not be destroyed due to greed which is a pure human instinct.There are multiple projects now, which are showing 28000% return within just few hours of launching and then showing a steady decline. There are multiple examples,
Squid games: Defunct
Shih Tzu coin: https://coinmarketcap.com/currencies/shih-tzu/
Solar energy: https://coinmarketcap.com/currencies/solar-energy/
Mini BTC: https://coinmarketcap.com/currencies/minibtc/
Etc.
There are many others as well. It is a money laundering heaven. Don't you think such gold rush has to stop at some point. Otherwise cryptos will never be able to make its way into the mainstream world. People are buying from craps to garbages in the name of cryptos.
Voice your opinion.
No matter how hard it is eradicated in the end it will only always increase not decrease.
But things like this are also unstoppable because freedom is here and we can do whatever we like, including these scammers who do do something to their advantage even though it's against the norm.
It will always be a scammer’s playground as the crypto community hasn’t yet regulated. So management can easily go away with investors’ money if they wanted to. What we can do about this to mitigate the risk of getting scammed is to know the project deeply before investing. If you plan on investing for a long term, make sure the team is solid and transparent on their identity.
blockchains can't be regulated so such scam projects will appear regularly. many people just want to receive easy money and such projects is the result of demand.
It will always be a scammer’s playground as the crypto community hasn’t yet regulated. So management can easily go away with investors’ money if they wanted to. What we can do about this to mitigate the risk of getting scammed is to know the project deeply before investing. If you plan on investing for a long term, make sure the team is solid and transparent on their identity.
I have noticed that many newcomers are attracted to meme coins which have a large supply and they think that they can earn many times over if they invest in such coins.
I think that a huge number of newbies will suffer greatly from such actions.So if any of the fanatics read this post, think about it) The main thing to remember is that greed is bad.
They're taking the advantage as much as they can because they think that it will make them a fortune if there's a lucky meme coin that they invest in and becomes big.
~
Yeah, those were the years before ICOs started to disappear one by one. It was becoming a scam pit and almost everyone would just see ICO as another term for scams that time. Regardless of what trend or what type of offering, scammers are there anyways.Let alone that any forms of market would always be infested with scammers, and even outside crypto while within government's regulation, they still exist.
I have noticed that many newcomers are attracted to meme coins which have a large supply and they think that they can earn many times over if they invest in such coins.
I think that a huge number of newbies will suffer greatly from such actions.So if any of the fanatics read this post, think about it) The main thing to remember is that greed is bad.
It's always been a playground for those scammers. Since I joined the crypto world last 2017 I saw so many projects that are scams. At that time ICO was on hype and there are so many investors that lost their money.
The cryptocurrency market is virtually uncontrolled. Anyone can create their own empty token and easily propagate it using even the most primitive methods. There are a lot of money-hungry, "not frightened" newbie investors who do not want to waste their time studying the essence of the project. And this is just a godsend for any scammers.
The thing I'm worried about in the future if there are no more valuable projects will ever be created. And aside from that, this gives a reason why people will never trust crypto anymore if that they only see worthless projects coming and they feel that they are just scammed. That is why I'd like to have regulations and strict rules regarding crypto projects and before its final release on the market for selling, it should be tagged as legit already so people will be sure that they don't lose their money but instead, to have assurance for returns. In this case, this helps the crypto in general to grow, not to become devalued.
A scamer is a group of people with a wide network. no one can eradicate them all. of course their extensive network will help each other. scamer is the growth of people who have an unhealthy soul, because it always brings harm to people. of course we must be careful before stepping in to avoid scammers.
It would be wrong to think of all scammers to be a part of a big network. Their motive may be same but they are defenitely not related to each other in every case scenario. The point is that a criminal can sleep soundly at night and that is why they need to be punished. If there is a method to easily fool people and steal their money, some people will attempt to take advantage of that and therefore become a scammer in the eyes of another.We can do only this much and keep out close ones aware, keep reminding them from time to time about possibly security measures and how to deal with people on the internet. Beyond that cyber-security is something that every persons should learn in a bit of detail specially in the sector of cryptocurrency where the lack of regulation has lead to rampant scams.
Just listen to what your folks have taught you: Never get greedy about money and listen to your conscience. That one line is enough to protect most people from scams too, if they have presence of mind.
So far, if there is a new hype coin, there will be followed by many more scammers with similar concepts of the altcoins itself.
We are likely to see how memecoins are very booming and many scammers there after the big pump of Doge coin and also Shiba Inu.
And this also happens in every hype or pump altcoins. Like DeFi project, gaming, NFT and maybe next is Metaverse.
We are likely to see how memecoins are very booming and many scammers there after the big pump of Doge coin and also Shiba Inu.
And this also happens in every hype or pump altcoins. Like DeFi project, gaming, NFT and maybe next is Metaverse.
Sadly, it has always been the scammers playground. It's a decentralized market, so there is nothing much anyone can do other than just ignoring them. Yet, people still invest in those coins, even if they know its going to be a scam coin. They expect that they will be able to exit the market early and take the profits before the developers scam them. And this is how they encourage more scammers to come up with those scam coins. But this doesn't mean all altcoins are scam coins. There are (few) altcoins are has very good use cases and are being well developed.
The cryptocurrency market is virtually uncontrolled. Anyone can create their own empty token and easily propagate it using even the most primitive methods. There are a lot of money-hungry, "not frightened" newbie investors who do not want to waste their time studying the essence of the project. And this is just a godsend for any scammers.
The thing I'm worried about in the future if there are no more valuable projects will ever be created. And aside from that, this gives a reason why people will never trust crypto anymore if that they only see worthless projects coming and they feel that they are just scammed. That is why I'd like to have regulations and strict rules regarding crypto projects and before its final release on the market for selling, it should be tagged as legit already so people will be sure that they don't lose their money but instead, to have assurance for returns. In this case, this helps the crypto in general to grow, not to become devalued.
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