The most difficult use cases to trust in crypto space today - page 2.

rehash

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Quote from: jacafbiz on June 30, 2020, 02:01:36 PM

I don't know why people choose to invest in these two use-cases, why do I need to invest in real estate tokens when I can buy real estate myself, the one for Gold is still disturbing, you can buy Gold from the market directly but you decide that someone should buy and hold the gold for you, all these go against the wisdom of investing in Crypto, it is to be your own bank have the control of your wealth.

It could make sense if you want to hold or afford only a tiny percent of a property.

Winscosinally

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Lack of real proof is why investors don't trust any real estate projects and gold backed tokens anymore, 99% of them projects using these use cases are scam and investors have wise up, I don't have any real estate tokens that I invested money on but I do have some that I earned through airdrops, won't be a huge loss if they turn scam

Kunnu

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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.

Dhoe

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Quote from: DDante on July 01, 2020, 02:25:16 AM

These two use cases can't be trusted and depend on, you need to be extra careful, those asking for proof don't know that there are fake proofs that can look legit enough, you've been warned, know where you put your money

I often see this type projects, and they end up with scams, especially real estate projects. Most real estate projects always provide false evidence that they have a luxurious building or apartment. They only give fake photos on their website or withpaper. It's better don't join in real estate project.

DDante

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These two use cases can't be trusted and depend on, you need to be extra careful, those asking for proof don't know that there are fake proofs that can look legit enough, you've been warned, know where you put your money

Greatchu

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The main problem with this two use case is lack of real life proof, I trust a real estate crypto project called Chellecoin because every properties they buy are tagged with the name, many just steal images of buildings and tender that as proof if owning real estate buildings

carlisle1

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Quote from: Eco_111 on June 30, 2020, 01:25:53 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

There are still no clear project about real estate nowadays and to believe in such thing is suicide,and besides why need to invest in crypto real estate when you can directly invest fiat in this field of business?

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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

Lol Bitcoin is a digital gold but to be backed up by real gold?that is not going to happen today and in the near future.

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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

Good proof can be fakes,we know how scammers move ..the only thing that will save them is by exposing those project earlier before they can spread the community.

bgaf

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Honestly those two sectors are not even needed blockchain. How does blockchain can help for example in real state? Payment terms can be handle via database and credit/debit cards why the hell include blockchain?

Also for gold backed tokens there is no way this will be legitimately backed by a narutally occuring economic indicator such as gold. Tokens saying they are backed with it are all fraud or just using the idea where no provisions set within.

Jaspion

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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.

LbtalkL

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Quote from: jacafbiz on June 30, 2020, 02:01:36 PM

I don't know why people choose to invest in these two use-cases, why do I need to invest in real estate tokens when I can buy real estate myself, the one for Gold is still disturbing, you can buy Gold from the market directly but you decide that someone should buy and hold the gold for you, all these go against the wisdom of investing in Crypto, it is to be your own bank have the control of your wealth.

Same thought about gold-backed coins/token, I am not really comfortable to trust someone holding my asset somewhere and we really don't know if it's genuine. If I will invest in gold I will go directly to the stock market and buy some gold stocks or I will just buy the physical gold in a form of jewelry in that I can have peace of mind and not worrying about my asset getting stolen.

dunfida

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Quote from: Eco_111 on June 30, 2020, 01:25:53 PM

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

Not only to those 2 things that you had mentioned but also in all sorts of things that been tied up with Crypto where those scammy devs trying out to set unrealistic goals
which they do cover it up with traditional investments that we've known and when the time noob investors do able to read it up then they do have that kind of pulling effect
that they must invest into this stuff since it do mention about real-estate or gold.There are lots of industries being used up not only this 2 things.

kawetsriyanto

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Those are only the most popular cases, there are many other types of crypto projects that are often used by scammers to attract investors. Real estate crypto projects have rarely appeared in 2020, it was the most favorite way for scammers to deceive people in 2019. A lot of real estate projects grabbed people's money previously because people believed it will have a good future. While in 2020, people didn't trust anymore in real estate, then scammers provided new ways by presenting Gold-backed crypto projects. This will never end, because after Gold-backed projects, I assume will be another type of crypto project to use by scammers. The key point, how we know the indication or signs that a project is potentially a scam. As the scam project doesn't only happen on real estate or gold-backed projects, but it probably happens in other fields.

bttmember

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Most real estate projects i have invested are legit projects, i am not talking about current price because that is very low but still the projects are strong, i do not know of any scam real estate projects but there may be some projects that failed. I have traded propy (pro), Blockreal (real) and Atlant (atl) and all these are good projects, atlant is still under development while other 2 are already in business.

kindbtc

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Each category of projects is full of scams these days you cannot just name a couple and think that most others are legit, to be honest there have been so many scams in crypto exchanges and mining category of projects that they cannot be matched, real estate and gold backed are also risky categories but i do not think there are many projects in these categories while i can name dozens in the categories i posted about.

palle11

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Quote from: Eco_111 on June 30, 2020, 01:25:53 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

I also see that is real. Most of my scammed coin are project said to be real estate. When you invest in such project, you don't get return and many bounties on it are exit scam.

XCANA

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For those who know elements estate, this project came with good team and after their ICO they disappeared without a trace. Some estate projects on this forum during the 2017 did same to investors, those projects did more damages to the cryptocurrency industry, till now nobody want to associate with them. Many don't want to hear real estate projects with cryptocurrency, rather the real world estate projects investment. Scammers have always outsmart us through some means but those who still look out for gold backed and real estate projects should have a rethink on scammers using those names to scam potential investors.

CaVO32

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Quote from: RabbiTANK on June 30, 2020, 03:10:03 PM

Absolutely correct, these two use cases are the most used by scammers because they easily attracts newbies but the truth is 95% of projects that are backed by gold aren't truly backed by anything, it's better to invest in real estate offline and buy gold in real life

Real estate business via blockchain technology is really a complicated one to be honest. Even if they say, all the paperworks can be done via internet, I don't think as a future property owner, you will accept such arrangements. This one still needs physical appearance to manually check the property and do the real paperwork. Maybe, this is the reason why most real estate-related projects here are not successful in pushing thru their platform. Because at some point, they need physical appearance of the other party. And that means, they can operate only in certain areas where people can physically reach out to them.

On the other hand, most gold-backed projects are fake and just using fake documents regarding their assets. As you said, it is better to buy gold in real life and invest in real estate offline. You will have more peace of mind if you have the necessary documentation in your hand rather than some entity is holding it for you.

qazgroup

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RiveMont

Quote from: Eco_111 on June 30, 2020, 01:25:53 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 are absolutely on point and that is why it is very important for us to thoroughly investigate each project before investing or promoting, i personally like real estate based projects and some of my friends like gold backed projects but we have to closely watch them and chose only the legit ones or else we risk losing our money.

ife2020

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Quote from: Eco_111 on June 30, 2020, 01:25:53 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

I want to correct a key word "trust", it is not difficult to trust any project in this crypto currency space; stop deceiving yourself. Once you do your research and do not find anything promising or realistic about a project or a token then that is a red flag signalling you to flee and avoid the doomsbell. It takes a great skill and good decision making skills to avoid phishing projects no matter how promising it looks.

For example, gold backed tokens are doing pretty much in this space; if we consider the digital gold token as well as even tether which is said to be gold backed. Always do your own research and remove exceptions because there are rare use cases and good product lately.

Define the reason you invest, if it is for profit or for product?

coupable

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Quote from: Eco_111 on June 30, 2020, 01:25:53 PM

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

I had the same opinion till i came accross this project called Gold. It seems to be a solid one and had a coin really backed by gold as they claimed. The most interested part is that you can instantly swap the token to btc within the official website itself which contains an instant swap system. The project has already an active bounty campaign active since a long considerable time.
I am not endorsed by that project and not telling anyone to invest or not by it really deserves a try.
Link to the website: https://gold.storage/
Link to Announcement thread: [ANN] GOLD - First 100% Liquid Stablecoin Backed by Gold
Link to Bounty thread: https://bitcointalksearch.org/topic/bounty-gold-stablecoin-200000-payouts-in-btc-eth-gold-5164058

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