The most difficult use cases to trust in crypto space today

hinorizk

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Quote from: pixie85 on July 24, 2020, 03:30:48 PM

Quote from: Jaspion on June 30, 2020, 11:46:16 PM

I'd add crypto loans here, because it seems bizarre to me - loans imply giving someone a lot of personal data which is simply against crypto ideals.

Crypto loans work but only when the borrower can escrow something of equal value.

For years people have been using bitcointalk crypto loans to gamble or trade when they knew they'd get money from their campaign in a week or two but needed some coins at hand fast and couldn't wait for the payment.

Real estate scams are very easy to verify because these scammers can't make photos themselves and often use stock ones that can be reverse googled.

Yeah, crypto loans are fine and you need something to make sure the borrower won't try to cross you and uphold the deal. Heck, personal data are an easy requirement for a lot of borrowers to take a loan, provide their data is real. Real estate crypto thing is a stupid game that all the risk is on the crypto holders, not even talking about if it a scam or not.

dataispower

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Quote from: pixie85 on July 24, 2020, 03:30:48 PM

Quote from: Jaspion on June 30, 2020, 11:46:16 PM

I'd add crypto loans here, because it seems bizarre to me - loans imply giving someone a lot of personal data which is simply against crypto ideals.

Crypto loans work but only when the borrower can escrow something of equal value.

The guy saying he will add "crypto loans" knows nothing about DEFI per say. LEND is a big example of successful projects in that category. Talk about gold back projects being a facade and I'll say yes, because most have failed. Real estate is feasible, I don't think it should be in category of "almost impossible" project aims.

pixie85

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Quote from: Jaspion on June 30, 2020, 11:46:16 PM

I'd add crypto loans here, because it seems bizarre to me - loans imply giving someone a lot of personal data which is simply against crypto ideals.

Crypto loans work but only when the borrower can escrow something of equal value.

For years people have been using bitcointalk crypto loans to gamble or trade when they knew they'd get money from their campaign in a week or two but needed some coins at hand fast and couldn't wait for the payment.

Real estate scams are very easy to verify because these scammers can't make photos themselves and often use stock ones that can be reverse googled.

blue_hurricanger

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So true about Gold backed crypto projects. It's really weird to see why people prefer valuable assets back by crypto instead of going to buy that valuable asset directly in real life.

Maxstl007

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Real Estate projects and gold back tokens are mostly fake or scam projects, people need to be more careful around such projects with these use cases, they can't be trusted, if they are real you will know because to acquire such real use case there will be regulations, documents and certificates of prove

semobo

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Quote from: Eco_111 on June 30, 2020, 02:25:53 PM

Here are two most difficult use cases to trust in crypto space today

1. Real Estate crypto projects

Scammers are the main reason why these use cases are hard to trust because it's easier for anyone to use this usecase to fool investors by stealing fake estates, houses and building pictures to deceive people

2. Gold backed crypto projects

This is even more popular today than real estate projects, honestly if this use case are real imagine how many regulations this will need to proof to the world that an actual crypto project is backed by gold form a real gold company

The truth is this use cases requires good proof to investors before they can actually belief that the projects are real, many have lost money to fake real estate projects and fake tokens claimed to be backed by real gold

There are many projects out there without any real use case and even called deflationary token so the entire motive of those projects are giving profits and after some time it will keep shrinking but we can find people still investing on it.There are very few real gold backed projects in cryptos but I shouldn't trust them as well because we can invest on gold itself than investing on gold backed tokens.

rahmatullah9305

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Quote from: Ochakemaput on July 01, 2020, 12:53:24 PM

several projects with such concepts used to have had success with their ICO. but after they went on some development was done and they disappeared and closed the project. I think it has given us experience with projects like that.

Everyone has their own experience in dealing with a project, but what we have to remember is that there are no successful projects with the same ideas or ideas or concepts that have existed before.

Quote from: Smitty Werben Man Jensen on July 24, 2020, 01:00:01 PM

many projects succeed after ICO then their development is completed in just a few months, and there is no further development, the case of such projects is overwhelming, for example is HBZ, HBZ was able to attract investors and be considered a successful project, but to date this project has died

Yes, because the concept developed by the HBZ is a new concept, so that it can more easily attract investors at that time, but all projects will die if there is no further development.

Smitty Werben Man Jensen

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COMBONetwork

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Quote from: Ochakemaput on July 01, 2020, 12:53:24 PM

several projects with such concepts used to have had success with their ICO. but after they went on some development was done and they disappeared and closed the project. I think it has given us experience with projects like that.

Projects with the same concept are nonsense projects, they cannot be categorized as successful even though they succeed in collecting funds through ICO, because successful projects are projects that always persist in any development, not those that run after the fundraising is complete.

many projects succeed after ICO then their development is completed in just a few months, and there is no further development, the case of such projects is overwhelming, for example is HBZ, HBZ was able to attract investors and be considered a successful project, but to date this project has died

sammy21

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Quote from: Docbee on July 24, 2020, 11:26:23 AM

Well, that might be so difficult to invest in actually. Firstly I know of a real estate property that I was part a couple of year named Max Global Property (MPG) and still doing well today. In the other hand, I hardly found any gold backed projects thriving today, many are all shits and fakes.

yes, they don't have good development. several projects with the concept of gold were there and were listed in exchange but then they disappeared. all are manipulations and too many have been fooled. if there's something new like that, then don't be fooled again.

Docbee

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Quote from: Eco_111 on June 30, 2020, 02:25:53 PM

Here are two most difficult use cases to trust in crypto space today

1. Real Estate crypto projects

Scammers are the main reason why these use cases are hard to trust because it's easier for anyone to use this usecase to fool investors by stealing fake estates, houses and building pictures to deceive people

2. Gold backed crypto projects

This is even more popular today than real estate projects, honestly if this use case are real imagine how many regulations this will need to proof to the world that an actual crypto project is backed by gold form a real gold company

The truth is this use cases requires good proof to investors before they can actually belief that the projects are real, many have lost money to fake real estate projects and fake tokens claimed to be backed by real gold

Well, that might be so difficult to invest in actually. Firstly I know of a real estate property that I was part a couple of year named Max Global Property (MPG) and still doing well today. In the other hand, I hardly found any gold backed projects thriving today, many are all shits and fakes.

Idrix1

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This is perfectly correct and on point, with my few years experience in this space, I've come across quite a number of real estate project and gotten involved with lots of them but they all do end up packing up even after indicating in the whitepaper how much of real life assets they've acquired already and about Gold back projects, i think that's another grey area shitty teams often hide behide to lure investors

kingzpro

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Quote from: Eco_111 on June 30, 2020, 02:25:53 PM

Here are two most difficult use cases to trust in crypto space today

1. Real Estate crypto projects

Scammers are the main reason why these use cases are hard to trust because it's easier for anyone to use this usecase to fool investors by stealing fake estates, houses and building pictures to deceive people

2. Gold backed crypto projects

This is even more popular today than real estate projects, honestly if this use case are real imagine how many regulations this will need to proof to the world that an actual crypto project is backed by gold form a real gold company

The truth is this use cases requires good proof to investors before they can actually belief that the projects are real, many have lost money to fake real estate projects and fake tokens claimed to be backed by real gold

If they are the most difficult to trust for you believe they are dream projects for many and also it is upto you to do proper research and there is something wron or you are not fully satisfied you can always skip it you will always get new opportunities so do not run after a project if you are not fully confident about it.

posi

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Quote from: Eco_111 on June 30, 2020, 02:25:53 PM

Here are two most difficult use cases to trust in crypto space today

1. Real Estate crypto projects

Scammers are the main reason why these use cases are hard to trust because it's easier for anyone to use this usecase to fool investors by stealing fake estates, houses and building pictures to deceive people

2. Gold backed crypto projects

This is even more popular today than real estate projects, honestly if this use case are real imagine how many regulations this will need to proof to the world that an actual crypto project is backed by gold form a real gold company

The truth is this use cases requires good proof to investors before they can actually belief that the projects are real, many have lost money to fake real estate projects and fake tokens claimed to be backed by real gold

You make a good point and the reason why crypto scammers target those two settings is because people have success story through Real estate and Gold. However, despite the popularity and the increase of projects claiming to be gold backed it pretty easy fo know genuine gold backed project through vault audit just like how Gold stablecoin prove their honesty when investors was scared then.

deathcode

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Quote from: cassavachips on July 01, 2020, 01:00:14 PM

This cannot be generalized, because indeed not all projects like that are bad. Don't be misleading, this will be detrimental to projects that are developing hard to get investors. But indeed in the investment, we have to look really seriously.

it's not all, but you can see a lot of such projects that end up scam. it should provide enough experience that implementing blockchain or crypto technology with such platform concepts will never be good.

cassavachips

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This cannot be generalized, because indeed not all projects like that are bad. Don't be misleading, this will be detrimental to projects that are developing hard to get investors. But indeed in the investment, we have to look really seriously.

Ochakemaput

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Quote from: rahmatullah9305 on July 01, 2020, 06:41:52 AM

Quote from: Kunnu on July 01, 2020, 04:14:54 AM

We have seen many failed and scam real estate and gold backed projects in the past I don't think these days crypto community has a single reason to trust on these kind of projects anymore there is no doubt that scammers are responsible for all of this they're infecting almost every part of crypto which is not a positive sign.

That's right, so now no longer believes in the two concepts of the project, both the real estate and the concept with the name of gold, because both concepts have been contaminated by scammers in the past, so that for the present time it has been a little who believe in projects that concept like that.

several projects with such concepts used to have had success with their ICO. but after they went on some development was done and they disappeared and closed the project. I think it has given us experience with projects like that.

Anonylz

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Real estate I can say seem a lot less difficult use case than project backed in real gold, there are lots of properties around all that is required is tokenize them, I think real estate is a much better niche that would bring more profits to investors if there are genuine ones but unfortunately most of them are scam if not all,
Gold backed project on the other hand sounds already like an untrusted project because it is not easy to have real gold backed project.

Wingsbtc

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Too many investors lost money to scam projects that pretend to be real estate projects that aren't real, in the end they turn scam, apart from tokens backed by fake gold another popular fake use case scammers use to fool people are deflation tokens

rahmatullah9305

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Quote from: Kunnu on July 01, 2020, 04:14:54 AM

We have seen many failed and scam real estate and gold backed projects in the past I don't think these days crypto community has a single reason to trust on these kind of projects anymore there is no doubt that scammers are responsible for all of this they're infecting almost every part of crypto which is not a positive sign.

That's right, so now no longer believes in the two concepts of the project, both the real estate and the concept with the name of gold, because both concepts have been contaminated by scammers in the past, so that for the present time it has been a little who believe in projects that concept like that.

rainingbitcoins

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maybe altcoin that doesn't have a team or a less transparent management. the website is usually written and can be seen from the whitpaper whether the project is indicated as a scam or not. if the statement on the website is clear, it is likely that the project is not a scam, just need the support of us or investors to help advance the project by way of investment.

Topic: The most difficult use cases to trust in crypto space today (Read 315 times)