Topic: The Dev is not your friend, so be careful. (Read 494 times)

Profit? Nah. Actually consider how many crypto coins out there are just copying each other's WP and repo in Github. I would not be surprised if they would be wiped off so sudden and just disappear after they their money from their investors.

It's not like it is really new event anyway. It happens continuously and people still feeds these rug pullers for their exit scam regardless.

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As a side note, I also quit investing to newer projects more like 6 years ago. Damn times goes by so fast. Feels like yesterday.

Trusting developers 100% is foolish, of course. We don't even know who they really are, so don't fall for their promises, especially promises that are backed up with a lot of hype that can attract people from all sides. Because, not necessarily they are really serious about the project, as long as they already get profit and money, they can just betray you. This I strongly agree, that dev is not your friends. Whatever they say, never believe 100%, especially for dev altcoins projects.

Exactly, all Devs will say that their project has strong fundamentals, a clear roadmap, and a super bright future. They promise top exchanges after release, but they don't deliver. They promise the development of the project, but the results are not as serious as they talk about.

Crypto investing has a big risk because you can lose your money even in a coin that you believe has potential. We can blame the dev alone because we have the most chance to do research and find ways to know if a certain project has potential or not. We must do a research right from the beginning or even we decide to invest because the dev,, as well as the people behind each project regardless of their potential will always do everything to attract more investors.

One thing that we do have in mind is on how to get rich in a short period of time and the way on attaining it is on taking a shot with those low cap coins and getting that 100-1000x or more back of their

investment and this is why they do really like to play with fire or simply with the risk on dealing up with these projects.Its true that there's no way that we could really not be able to make out reactions

into our investment because we are really hoping or trying to make huge profits and this is where we do need to take up some risk which is really that a common
approach and we do know on where it would be heading most of the time which is to burned out those capitals.

You cant call internet usernames as "friend" mate. If they are some real life person, ask them their reason for investing in the first place and do your own research before you invest, because it is your hard-earned money that you are putting the risk on.

If you were not going to place an order, why put the coins on the exchange at all? Mistake on your part again. There is the possibility that the exchange goes down while the order was kept on, in that case it would have been your bad luck.

A lesson that this forum's users have been echoing every few months, but everytime a new exchange goes down more such topics come up.

While it is important to only invest money for which we do not have any immediate need, it is almost impossible for any investor to put money in any market which will not bother them to lose, this is because we are talking about money that it took people years and a lot of effort to save, which is why it surprises me that there are so many investors out there which invest in all kind of shitcoins as if they do not care about their money at all, only to complain in the forum when they lose, but if they were going to be so bitter about losing their money then why waste it in coins they should have known had almost no chance of becoming successful?

first of all investing in a new project looks very profitable indeed, but behind that thought there is a very high risk as you say. secondly, it is not recommended to invest using hot money. I mean use money that is cold and not used for any needs. so that when something happens you don't regret it too much.
you have to be careful when you want to invest in new projects in a bearish season like this. because even old projects that cannot survive will disappear, especially with new projects. so do your own research before losing.

Don't invest where anyone advises you to invest. There are many dev teams who will beg you to invest in their project through PM but you will never invest there. If you have to invest, you must first notice whether the coin is listed on the best exchange and then invest there in a small scale. There are many scam dev teams that will advise you to invest and always tell you positively about their projects. Make sure you don't fall into their trap. Invest from where there are good mediums to invest.

There is a good chance that we could end up with getting scammed if we befriend them as well. Because, they are still strangers, and they could act like a friend and chat with you in PM's and tell you all the insides and either use your efforts and hard work, or use your money whichever you have by convincing you that you are an "insider" and you are their friend, could even ask you about your personal life or could tell you a lie about their personal life, hell even maybe tell the truth about their personal life.

Then, they could just scam you, it would be quite possible and it's not going to be impossible for them to do something like this at all.

Investing with the analysis that we do ourselves will feel more proud when the project is successful, and it becomes a disappointment that is 2 times heavier when the project ends in fraud. I'm not someone who is against other people's advice, but for any advice given by other people, make sure we always check and do our own analysis instead of believing what they say. In my opinion there are 2 possibilities if other people give us advice, first so that we are trapped in the project they are also in, second they want a lot of people to come in so the price will increase, and at that time they will take advantage of the people they give advice will be left behind.

Investing in new projects does have a greater chance of profit than investing in old coins that have been registered.
However, the risk involved is even greater than the opportunity for profit.
Even more so when investing in a new project because we only get advice from a friend without us doing proper research and analysis on the project.
Indeed, I admit that of the many new projects that are being launched, there are several projects that indeed have hidden treasures in them. But to be able to find which projects have such potential is very difficult and the opportunities are so small, it's like looking for a needle in a haystack.

I think practitioners in the financial industry, or investors in digital currency, whether you are a novice or an experienced trader, you should have a sense of awe. Is it scary that DEV doesn't exist, but we can't see what his purpose is. So we can only judge the quality of the project in our own cognition. Don't think about whether I can get rich overnight at this time. If so, that's lucky. All you need to do is to choose Bitcoin instead of going to an exchange to make a contract.

And the moment investing instead of being a way to put your money in projects with great fundamentals that you believe will do great in the future, becomes just a game of chicken in which everyone is trying to outsmart the other and see who ends up with a bunch of useless coins, then you know investing has being distorted to the point of becoming irrecognizable, so newbie investors need to keep in mind that if the project in which they are interested is not innovative in some way or form and has a good group of developers then they need to forget about investing in that project as there is almost no hope for them to make profits with that coin.

That was your mistake. Always do your own research before investing. Don't lower your guard in the crypto world, especially in new projects. That friend of yours might be trusted but the team in that project isn't. I always wanted to invest in new projects as well but there are a lot of run-and-gun teams out there. You need to outsmart them and dump before they can.

At least what you have done is the right thing because after all we still need to do our own research before joining the project and not relying on other people's advice,
scam can happen to any project so we need to be really careful,
other than that every decision is in the hands of each of us.

It's not only the DEV who is not your friend, but also sometimes your "friend", who is NOT your friend...
And of course many marketplaces, that are also NOT your friend.

I remember my first investment into an altcoin. Got ripped off even twice.

I've put 3000 bucks into that coin, because a "friend" of mine told me it will be easily 10 fold within a few weeks.
That of course was just short before a peak (not even close to 1.5 fold and I guess my "friend" who told me used this to exit). So my initial 3000 bucks evaporated down to 600 bucks. Not cool...

I thought never mind, can happen and left the coins on a Hong Kong crypto marketplace (as I would have rated it quite a big one)... Few month later, that marketplace went out of business and disappeared with all funds.. Not cool #2.

If you see even giants like FTX can break down, this really is a lesson to learn.

Since the above experience, I never leave a single coin/token anywhere staked or parked.

They are doing this just to look trusted and the group is active but once the participants fall into their trap, they'll gonna leave (exit scam).
Though I'm not going to say that they all are scams, there are many projects that are still left that can be trusted. But as we heard a lot of scam issues, trust is hard to be given especially in the telegram groups. Because even if we do a deep search, it is never enough to tell that project is worth trusting, some have a good performance in their early days but it turns scam later.

There are lots of victims of this kind of method where the Dev and the telegram managers are being friendly in the AMA but the real thing is, they are luring their investors to trust them and to listen to every promise they made, and suddenly they will gonna stab them in the back by not doing anything about the project and leaving the project behind to fall. I had the same experience when attending an AMA event with the DEV of some NFT games and most of the time they will tell you about the things they will gonna do in the future but they have their own different agenda when it comes to stealing the money of their investors.

The size of a coin does not really tell you anything about its long term viability, just on the top 10 alone there are a few coins which I could see disappearing during the next decade, so I can conclude this is even worse when it comes to the coins outside the top 10, with this in mind it is critical to be as careful as possible right now, because you do not want to waste your money investing in altcoins which will disappear and leave you with nothing, when you can invest in bitcoin and take almost no risk at all at the current price.

When it comes to new projects, always invest what you can afford to lose whether its $10 or $100 it's not the amount but the mindset, the one thing that you should not do is regret, because if you keep regretting your decisions to invest in new projects you might end up getting enough even if you are presented with good projects that are worth investing so my advice is don't put your savings only money that you can afford to lose so you will be ok with your losses, because you will eventually find a new project that will give you good profit.

Right now, i feel old or new both of can be SCAM anytime because when i remembered Luna and FTT these was billions dollar market cap, but now disappeared. Yeah, if comparing old and new project definitely new project is pretty high risk than old project. But i never invest my money by others people’s recommendation, i will own research before invest in new or old project.

Even close friends can not be trusted, too many fraudsters around us, especially when dealing with money,
  Invest in the main coin because as we know it has been decades for its launch, and until this moment it is still safe to be an investment,
rather than investing in new projects that do not have clarity

Any investment is a risk. Investing in crypto projects is doubly risky.

I'm always surprised by these speeches about doing your own project research, even if you're new. This is wrong, since an adequate review requires certain knowledge, which newcomers will not have enough of and then another loss of money will happen.

Any developers and founders of projects have a geometrically opposite interest with their investors, which means that there can be no question of any trust in them. This is especially pronounced in scam projects.

Instead of doing nonsense and risking your money in new projects (with a dubious future), even small ones, isn't it better to invest in already proven and reliable ones that have proven themselves for decades? Why are you not satisfied with BTC?

doing a lot of research for one project is basically the obligation of investors, but if we have researched and searched for info, we are still hit by a scam from the dev, it is out of control in my opinion, so when you make a decision, never regret what will happen in the future
it's true that a dev isn't a friend but a dev can be said to be an enemy in disguise and it's hard to predict

Lol. You may refuse to call them devs, but that doesn't change the fact that they developed something that turned out to be a scam.

Technology has really made it easy for any to just cook up nonsense all in the name of creating a token.

Yeah, some actually start with a good and descent intention but end up as scam for reasons only known to them.

Because the basis of choosing a project is not only having good and trusted team members but investors will look deeper if this project really has the potential and remain valuable. And it is very unfortunate that almost all of these new projects are nothing and no working products,  we can't expect them to succeed either and give ROI to the investors. That is why research is highly advisable and we don't get fooled by the sweet promises that most developers are doing because, in the end, they will break those things and leave.

To be honest, I'm not interested in investing in a new project through ICO IDO or any form of token sale before being listed on the exchange, I'm more interested in investing in a new project when it's already listed on the exchange. but before investing, of course I do research first to determine whether this project is suitable for long-term or short-term investment, or even not at all worthy of investment.
My advice to you is don't easily trust anyone, even if it's your friend or relative, because in crypto the risk is borne by each and anything can happen. So it's best to trust your own research 

And this is the right thing to do, while I am not a fan of investing in so many coins during a bull market, I can in a way understand if someone wants to take a risk under those circumstances as almost everything is going up at the time, but during a bear market taking such a risk is simply unacceptable, I suppose the ones that are wiling to take the risk at this time are either too greedy or they really need to make some extra money, and they see in those altcoins a path in which they can somehow reach this goal.

Honestly, with this market situation I would not like to invest in new projects. Not all projects now can withstand the market, it will be very hard for me to trust projects now not unless the team members are visible to the world I mean they are not hiding with fake names, proven works, having a good knowledge not only in Dev, crypto but also have a good strategic planning when times get bad again. I don't invest to those projects that get only hyped because of influencers, I am looking for a long term one.

Nowadays people (trader's especially) don't rely on promising projects or trusted dev team to earn good profits. All they need is the right tool to navigate and make their daily profits.
In other words, there are different approaches to achieve one's goal, good dev or not, all that is required is the right knowledge.
After these recent ugly events that occur in the crypto space, I trust on dev team reduces drastically.

There is part of it that it is right, since even those knowledgeable and experienced investor would still look for cheaper and newer projects. Sometimes the maturity of the project results in lower returns due to a lot of shares that it will be given to the investor.

This is why even the experienced ones are still vulnerable to these kinds of stuffs, not just those stupid investor.

Scammers will always look appealing and would even smile as if they're your friends just to gain your trust. In the crypto world, if you will be too soft, you will always fall into scammers arms. Never trust those who spread FUD and shillings even if they are close to you. Your own research will be more reliable than those who are trying to convince you to go in the wrong direction.
Not all projects are scams and some developing projects deserve a chance but being wise is an edge. By doing the research before investing, you'll surely have a little chance to lose your funds in scams and fake projects.

It is true that the current big project was a new project, it's just that what's different here is that the developer doesn't have bad intentions towards its investors. Not all new projects end in fraud, but the rise of new projects that end in fraud forces us to think that every time a new project appears, we think that the project will end badly. Here we need to learn that everyone has to be careful, I also agree that there is no such thing as a friend here, so make sure you are always ready.

Agree, not all new projects are scams, you should remember that projects like ETH or ADA, and LTC... have all been new projects before and those who invested early in those projects are now just as rich as those who invested early in bitcoin. However, we should be aware of the fact that the market does not have any friends, all it has is its competitors, they win and we lose, and vice versa. We are all here for the money, if you can't take their money, they will take your money, and the money will go from the weak to the strong.

Investing in new projects is really tempting considering the facts that you get to enter pretty early while the project is just coming to limelight.
However, the danger is that you might end falling for a scam, and lose all your  money.

These days, despite doing due diligence and researching about a new project, you might still fall for a scam.
So it is becoming very hard to tell a real from a scam project. And no matter your level of expertise, you might still fall

I disagree with the fact that only stupid people are tempted to invest in a new project.

This is the point I've been trying to pass across. Pick any 20 altcoins and cross out the ones with real life utilities. Then you'll know if the devs are in it for the money or not.
They only created the project to get money, no value or utility is considered ahead of the money there is to make.

I agree, we can look at FTX and Terra Luna as an example.  Many people did thorough research on these projects and at one time they look like legit until they messed up in the end and filed for bankruptcy after they embezzle funds or did insanely idiotic decisions that lead to the collapse of their platform.



Devs don't showcase their managing skill through ranting.  So we are better vigilant to every project we think is potential for success because we never know what will happen next.

Devs are creating a project which it hadnt been existing on the market before but most of the time they are just using up the same platform or blockchain with those common or top ranking coins or projects in the market.

Any significance? None. People are just making some blind investment decisions basing on hype and other suggestions which turns out to be shit later on.If you are somewhat lucky then you might hit up a good one

but you should not make yourself that confident because everything could really happen whether you do hit up a scammy dev or a loyal or dedicative one.

The devs are never your friend regardless of what they're building. You may make money and you may lose money, that's how the game is designed and even if you don't make money the devs will make money at your expense.

The first is always to do research first and that for me is very important,
indeed when doing research it takes a lot of time but it's better like that than investing in projects that are ultimately scams,
we do our best to minimize the risk

Most all the time devs are also doing business here seeking friends is not their priority when running their own project so don't get attached to match and think about they help you to get rich since there main concern is how faster they became rich faster. So don't mix investment with pleasure and always use your brain while investing to avoid getting scam by those devs pretending to be a good shepherd which promise you a never ending profits with them.

Developers are sometimes like enemies in disguise, as if they sided with us and are on our side by making sweet promises that our investment in their project will be successful in the future. But in reality they are just like normal developers. They looked nice when they asked us to become the developer, but after that, they probably won't remember us anymore by taking them away. This is makes sense and must always be watched out for. Because indeed all developers are professionals.

Their unprofessionalism sometimes covers various things, including the failure to fulfill their promises according to the roadmap, never listing their tokens or coins, not making various efforts to keep the project growing and increasing in the market, and will just leave when they know that the market is too difficult and the important thing is they have made a lot of money.

All we have to know is that there is one goal for why devs are here and creating new projects, and that is to generate money. They don't care too much about how this project could help the crypto world grow and appreciate but what is in their mind is to make money from innocent people who come. They don't mind if the project will fail and turn scam in the end because it was not their goal in the first place. It finds really disappointing but it was really happening now, unlike before when crypto is just started.

A true dev isn't going to have the time to be your friend nor probably wants to. I enjoyed writing the code and the challenge of making things work. All the other parts of a crypto project are a drain on happiness.

The whole crypto space offers a lot of opportunities but at the same time it is also a pretty wild and also dangerous space especially for newbies. Yes it is possible to make a x100 of your initial investment in the crypto space, but of course it is also true, that the chance for such a extremely high profit are very very low and that the chances that you lose your complete investment are way higher for several reasons. In addition to that i think that the average investor into crypto is very young in comparison to investors into traditional financial assets, which also automatically means that you are more naive if you are still very young.
So always be careful and never buy meme-coins.

I don't think so that trusting our gut only is always correct because what if we only think it was legit but the truth is it's actually a scam? But, this can be avoided if only you took an action and did your own research.

While it is true that most of us here including the coin developers are only in for the money but the point is not all of them are scammers or only goes for the easy money but there are still developers who play the game fairly. They are our friend because they help us to have something which can make our life easier and of course, they can help us to earn decent returns as long as you know how to HODL their projects strongly.

The objective of the project owners is to generate the cash needed with a quick runaway. So if you think the dev will tell you everything about the project then you are mistaken. Th e dev will only tell you what is necessary for you to know and keep you in the dark about the weakness of project or if they have anything to develop at all and not peddling an absolute class work.

Your only friend here is your intuition and if it tingles just like Spider-sense, you should backoff from the project. Problem is after seeing so many scams our senses are over-sensitive but that is not bad, it weeds away 99% of scams and that 1% possibly good project would never make it anyway.

So devs are chapping about their projects, consider the failure imminent.

Good thing you only lost a small amount but yes it's still money that we should value since nowadays it's hard to earn it.

This is the reason why it is important to dig deeper before investing especially in new projects. Because it's quite risky to invest your money in new projects without even knowing their background to know if it has potential and unlikely to be scam. It can be prevented if you didn't blindly invest even someone recommended it to you. Having our own knowledge about the project is still best to understand the project and to gain idea of what to expect as time goes by.

Besides developers, you should also be careful with mentors and friends who advise you investing in scam projects. Be careful on who you trust in crypto market. Sometimes people say they are experts and professionals on this industry to build their reputation inside Telegram, Discord groups or Youtube channels, but their knowledge and yours are at the same level. So, make sure to search for further informations about the projects you are interested in by yourself. There is no problem in asking advices to others, but always study it by yourself first, at least the basics, and ask to trustworthy investors your doubts.

Well the project itself was a scam so the loss was inevitable. Even with proper research people would still invest in some scammy projects or wrong projects here and there, those are risks that are involved in investing so losses are something inevitable imo. Not to mention that not all projects that you'd lose money from aren't exactly bad, they just didn't grow to the point where you could profit. It's also why the idea of investing something you can afford to lose should be realized, instead of nothing or something small, as op said.

Well if the devs were just all empty talk or unrealistic expectations then no matter what I'd just simply avoid it. Some devs are rather passionate and can explain/share everything, but some devs are simply just that bad at managing projects, regardless if they wanted to scam or not.

This goes not just for newbies but definitely for all aspiring investors as investing is risky, but it’s even riskier if you put your hard-earned money into projects that have no real long term profiting goals. Be careful not only to devs, but on the project itself as it may look promising and very profitable at first, but the moment you put all your capital and profits in it, the project suddenly disappear just like a thin air. So be cautious and always DYOR.

Truly.
If they say that they are friends and partners for your investment success, then that means they are opponents. We don't need to believe in them no matter what. Because it could be when they make 1 promise then there will be other promises. While the previous promises have not been realized. They will usually be very sweet and promising when they are building and selling their projects. but after that? It's enough for us to know that they usually won't fight as much as they promised. Promises are just promises. They may still be running, but, trust me, new projects usually can't make something as hype or well known as it always is. In this case, their focus is mostly on making more money, and the focus on projects and their investors is number one.

The dev are surely smiling because they don't want their investors to be turned off, scam developer even have a wider smile to make investors think that they are friendly and kind and invest in their project.


I agree, if we are unsure we should only set a small fraction of our investment fund, and even if we are too sure about the project, we should only invest what we can afford to lose so that when the investment comes southward, our livelihood is not affected by the lost of investment.

definitely suicidal! some are just looking at the charts without considering what is really going on in terms of their developments. as we have seen, a lot of pump and dump projects have died down eventually. so yeah, if you want to invest in this market, one should really allot a bit of time studying their potential and see how legit they are pushing with their objectives.
most devs are just here to fill up their pockets. they don't care if you will get rekt or not. especially those anonymous ones or with fake team members.

One thing about trusting altcoins is that, you should always trust your gut instinct as most times you would be right. And know that everyone in the altcoin ecosystem is in it for the money. Don't be a bag holder to a project whose devs we know are also in it for the money.
It's a losing game and winner (the dev) takes all.

Investing in a project that we never know yet or had no knowledge about the background of the said project was a suicidal move. Just like in investing in new projects we can't assure that it will succeed and give what the devs had promised to the early investors. As we can see, many new projects had failed, not totally because they are scams but also due to a lack of support from the team itself. That is why if we are wise investors, thinking about investing in new projects is not really a good choice.

Those things you mentioned above are pointless, every project is want to convince everyone if they have a good roadmap, WP, achievement and high APY. But in the realization, everything that has been mentioned from the team goes opposite and this is where the problem is from the developer.

LTC isn't a scam coin, it just get abandoned by the developer.

If you talk about when LTC will climb back, actually it's also a similar question to BTC since BTC currently isn't in good situation too. LTC has follow Bitcoin hype 2 times [1], I expect when BTC make new ATH, LTC will follow BTC again.

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[1] https://www.coingecko.com/en/coins/litecoin

The scariest thing is that even if the project is not a scam it can just dump and die for some reason. Or even a big and well-known coin like LTC did, and no one is sure if it will climb back. TBH at some point, I decided to switch from a diversified portfolio to a BTC-based one. I have som altcoins, but BTC takes the biggest part of my portfolio now.

It always surprise me when I hear stories of people investing the savings that it took them years to accumulate on projects that were obvious scams, if someone out there wants to invest in those new projects because they either want to obtain more profits than what bitcoin can give them or they simply want to support some developers and their innovative ideas then I do not oppose them, but their budget should be extremely low so in the case they made a mistake that loss does not wipe out their capital.

One the stupid things, I always see for "Investing".

In-my country, while someone from our nation releasing the project. There always has some guys, people or group for always say : "Supporting our child/people nation project" meanwhile in investing you're never/taking decision based on "Friend, Family, or Nation" need to be netral.

Because you're playing with your own money for investing not using their asset.

I guess your title must be very wrong. It must be DYOR was the most important thing for you. People who told you about scam coin like that shall not be called as mentor or friend. They were scammers too.

It's not the developers who have been making mistake here. You can easily known the dev was scammer if you were doing your own due diligence rather than believing in others.

I guess that you shall remember trusting someone else is not a good choice once you can still to trust yourself. BTW you shall learn from your mistake and never try to trust others even when you called him friend

that's the thing with these new coins in general you just couldn't be sure if they gonna outright scam you. even though they always promised big returns, there's big chance that they'd just run away when the milestone of fundraising reached and when they have the chance to liquidate their coins massively and that is the rugpulls.
there's always reason why the investment company always prefer to invest in existing coins that has established its reliability for long like btc and eth, because they are far safer and couldn't just lost their value overnight.
even if these new projects have some good proposal offered these investment company still most likely refuse to invest before having any meaningful analysis in regard of the new coins because investing in these coins simply increase their risk in their investment by huge margins.

I tend to agree and that's true.
We should always have DYOR upon picking a new project, we should follow them whenever they're as an active community because in that way we know about their project goal and we determine how good they're.  But now, most commonly a new project doesn't have a clear utility, it becomes redundant to other existing projects that also didn't exist.  That's why I didn't put large money into a new project.

I rather give a large amount on Bitcoin than these new project altcoins.

We all have crypto stories to tell and scam project on crypto is one of them. Mostly newbies are the one who are getting involved with this kind of scam, I mean being rugged pulled. Always do your own research and invest at your own will even if your mentor decides to tell you to invest on a certain project. We can't blame your mentor unless he get something out from your investment like he is doing persuasion to you because he has referral link. Those kind of mentor is trash if the mentor you are pertaining doesn't even do a simple research in the project.

When you do make your mindset to be like that then you cant really be affected that much but come to think that we do value our money that much which its impossible not to make out any negative reaction to it.When it comes to new project investment then you do normally have those doubts but if you do make out some research about roadmap or WP and understand overall
on what are the things that is the project trying to make or achieve and believe into it then you do really have that confidence then it would be your choice.
This doesnt talk about dev or  not.

I refuse to call those people devs, as they are not developing anything, they never even meant to do so. Everyone who is pulling out liquidity is just a scammer. Anyone can create a token, you don't need to be a developer to do so. And these days they can pretty much do every step of design with ai. Make AI to write generic crypto whitepapers, roadmaps, descriptions... And spice it up with Midjourney's AI graphics. So they don't even have to even work on that anymore.

That's all they are. Scammers. Dev starts being Dev instead of scammer after he starts developing. That doesn't rule out scamming in the future though.

A new project should have a community on telegram or discord where every trouble encountered by users can be found. When investing in new projects always reach out to other investors in the community who had a dispute, discuss with them to know their thoughts about the project, how their use case can benefit the cryptocurrency market in the future, and verify with them if their problems were resolved. If the project is a coin, I'd advise you not to purchase yet, unless you have some bucks to throw in after doing your diligence research.

Though recently, the cryptocurrency market is in trouble even real projects are not an exception to the attacks hackers launch every day in the market, as investors we are to capitalize on risks. A new project may not have enough security to secure its users or refund them if there get hacked and money is lost. However, it's a general barrier, some big projects escape with people's money without refunds after getting hacked, but new projects can easily go scot-free unlike established projects.

On the side of developers, many are here to make money, once their project starts attracting people, gradually they'll think of a way to rug pull and run an exit scam. Probably, they'll move ahead to create a fresh project and promote it with all they've made from their previous scam. That's why most time I wonder how fresh projects get to the top easily. Some get investor cool, but others are promoted with scam money. Hence developers are becoming lazy to create a unique web-based project, they're, most a times, going to launch another project that'll look similar to the previous ones. So, investors always watch out for projects that look quite similar; same idea, UI, and goal to scam projects. They're likely to be the same team in another coat.

Crypto is like a city, it's where a lot of wealth is being made and is thus an object of attraction for criminals.

Not just newbie every investors are tempted to go for a project when they see a big hype around it and some really think smart and take risk by investing on it even if they know that project is shit but for short term so they pull their profits as early as possible while many hoping to become millionaires are actually becoming losers.

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Never make any financial decisions from others opinion no matter what, you can look for suggestions all around and its good to hear different perspectives but the decision maker should be only you and you should do it only if you have a convincing reason. Never brag friendship, family, emotions into finance which is really danger to the money.

If you want to invest in a new project, just think it's a new game of gambling, so when the project turn become scam, you can accept the reality. Even an old project could become scam although the chance is less than the new project, don't get tricked and invest using most of your money because there's many people perform suicide when they investment crash e.g. UST/LUNA.

If you see a new project and you are tempted to invest in it you are stupid because new projects require tough research first, there is a chance that the project is a scam so before clicking the buy button you have to be sure what you are getting into.

Developers are here to make money, let that sink into your head, if we turn the table around and you become a dev yourself will you work for free? So it's always about the money.

I would add a little: the more you think that all the conditions for investing seem convenient to you, the more you should doubt. Developers, on the contrary, will smile at the top of their lungs to lure you into an investment trap. But the thought of why everything is so beautiful should always be pulsing in your head. No one will ever create ideal conditions because there is no need to pay for what can be stolen. Unfortunately, in our time, this rule has become popular, and when tempted to invest or not, try not to catch yourself in doubt. If in doubt, and intuition does not fail you, close the page and do not come back.

That's true but you should remember that a project (old or new) doesn't have to be a scam for you to lose money. They simply are pump and dumps and you lose money when you don't accept that they are pump and dumps! For example the biggest altcoins in top 10 list are also pump and dumps since they have no other utility in real world. So when you don't know how to make profit from such schemes you always end up with your pants down during the dump and lose money specially if you are one of those people who decided to bag hold and hope for the recovery instead of cutting your losses and exiting.

New projects are quite risky. Yes there are chances that you can earn a lot from a private series but it will depend on how promising the project are. Anyway theres a lot of factors to do and thats gonna be crucial when investing. $10 or $1k there is no difference but that will still be at risk, but gaining profits are also can be considered.

You need to have a lot of researches before putting any money on it.

Often as a newbie, when you see a new project you are tempted to invest in it. Why I agree that not all new projects are scam, always ensure that you do your own research before putting your hard earn money into a project, otherwise you will wake up to discover that the devs have disappeared with your money.

I have a personal experience, a friend and a mentor told me about a new project that was looking very promising, he advised that I invest in it. So, I did even without doing my little investigating, not too long, the dev pulled out liquidity and that was the end of the road for the project.

So, that's how I lost my investment in that project, though I didn't put much, just about 10$, but a lost is a lost.


Please, be careful out there, the devs are not smiling
 And if you must invest in a project you are not too sure of, always put something small, don't go all in, you might end up regretting.