Topic: The way things are going with new crypto is worrisome - page 7. (Read 898 times)
hero member
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I'm not too surprised because the increasing popularity of crypto in the community makes many people want to create crypto tokens that may not necessarily benefit others. Maybe scam tokens will always be around and there could be more in the future. Therefore, you should be even more careful in choosing a project for investment. I don't think much about new projects because I already know the risks and should invest in the old ones.
Almost everyone I knew now creates their own tokens 
these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.IMO, I believe it is true and it become a new normal in the crypto industry nowadays, creating a new token from scratch has been an easy task to do since many platforms today that has offered that functions especially in BSC, and you're right it's very alarming because many scammers are using that to victimized people especially those newbies in this field of crypto, and even doing some research it's quite hard to notice the bogus and the legitimate projects in the market so stay alert and avoid those newly created projects that look suspicious.
Almost everyone I knew now creates their own tokens these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
That’s why you’re seeing so many coins in the market these days. Lots of ERC-20 tokens that some people are creating these days with no purpose. I don’t know why anyone would even be creating their own coin when they have experience and skills. these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.For anyone, to be able to create a coin or token and make it successful one, they will need to have the skills, and also have a team that they are working with, also have the capital, if they really mean business. You don’t just create a coin or token and expect it to be a success and people will be making use of it, when you have no effort to put into it and you’re not a skilled developer but some random guy. Then what you’re doing is simply a joke.
Your wist was coming true. People who know about how to issue the token has been opening service. Im sure the condition in the crypto will be the same like this time. It's hard to prevent people to create its own token. Decentralized blockchain system was about the freedom. We are also feeling worry about that caused by it can also disrupt the reputation of cryptocurrency. Remember when people blamed crypto due to the so many scam tokens. The dex was also making it even worst caused by scammer can list their tokens to the dex easily.
Almost everyone I knew now creates their own tokens these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.By mare looking you can easily tell some of these projects that are created by wannabe dev you just mentioned are not to be trusted, they usually don't have anything to offer when you read the concept,
My advice is to participate in new projects from reputable launchpad like coinlist, bscpad, seedify, Trustpad, Gamefi any other reputable launchpad out there, to participate on any random projects these days is very risky, the majority are scams, especially those pretending to be NFTs.
I think listing platform that are like CMC need a more strict requirements for filtering out all these rather low quality projects and they should just limits their daily listing quota for real because honestly, if there is any scamming that’s happening like rugpulls from a coin that was being listed in CMC, this platform should take parts of the blame because they also participating in the advertisement of these scams projects because they are very loose in listing all the projects that are trying getting into their platforms.
Yeah for real, it’s becoming quite annoying, that’s why we wake up everybody and we will be seeing thousands of coins being listed on CMC, they really need to have very strict requirement that will filter out all these fake coins from the market, and keep only the real ones. If they continue the way they are doing, then we will keep seeing many of these coins being listed in the market almost everyday.Although such a thing never bothers me that much, because I don’t pick any new coin I see in the market, I prefer to invest the old coins that are very much reliable than buying all these fake coins. Any coin I am buying need to be a coin with a serious team of developers, and they need to show their seriousness to convince me.
Almost everyone I knew now creates their own tokens these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.Are those who created those tokens is the ones to blame for your worry? Definitely, a big no.
Those users who are patronizing those tokens are the ones to blame. In the first place, you already said those developers don't have any knowledge. How can they even put a simple explanation on how their token works? Unfortunately, with just technical English explanations from these devs, users got hype.
To make this discussion more fun, can you give an example of these tokens?
legendary
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yes I think listing platform that are like CMC need a more strict requirements for filtering out all these rather low quality projects and they should just limits their daily listing quota for real because honestly, if there is any scamming that’s happening like rugpulls
from a coin that was being listed in CMC, this platform should take parts of the blame because they also participating in the advertisement of these scams projects because they are very loose in listing all the projects that are trying getting into their platforms.
even better if they could just get all these shitcoins and memecoins under category of pure speculation instead of categorizing it as an altcoins. Too many altcoins in the market. sometime this is also making newbie feel confuse to pick which was legit crypto that they can invest in. The blockchain token issuance needs to be more restricted
from a coin that was being listed in CMC, this platform should take parts of the blame because they also participating in the advertisement of these scams projects because they are very loose in listing all the projects that are trying getting into their platforms.
even better if they could just get all these shitcoins and memecoins under category of pure speculation instead of categorizing it as an altcoins. Too many altcoins in the market. sometime this is also making newbie feel confuse to pick which was legit crypto that they can invest in. The blockchain token issuance needs to be more restricted
Is one thing too great a token but a different ball game to have it listed on the exchange and being able to have good trading volume, most of the shit-created tokens on most ethereum blockchains have no value and at that becomes worthless?
Smart contracts allow anyone to create a token but the responsibility of keeping and running the coin on the blockchain depends on the knowledge of the team.
Smart contracts allow anyone to create a token but the responsibility of keeping and running the coin on the blockchain depends on the knowledge of the team.
The essence of cryptocurrency is for people to own their money and create value for it. I don't see anything wrong in freedom of money and decentralisation of value. When coin or token is created, it suppose to serve a purpose and easy transfer of value. The economy of decentralization will aid business processes and create prosperity faster than we can imagine. What is happening with freedom of money is a good thing
As long as you don't invest in projects you don't know about, you won't be fooled by them. You can also stay away from every new project released and choose only the ones that already have a good name and are moving well. You don't have to worry because you already have previous experience to make a good decision. Let the people invest in the project while you are sticking with the coins already on the market.
I knew a lot of people that does this, too. I know they are not really experienced in handling such projects but still created cryptocurrencies, and marketed them heavily to pump the price and dump them afterwards. Most of these crypto that they create are copies of other obscure cryptos that they name on what's the current hype in the space. It's somehow working and people still believe them due to their gullibility, that's why they keep on doing the same shit over and over again.
I am already buckled up because it's already happening as we speak and more are coming out looking like they are projects with a deep understanding of what they do but they are not. That's why transparency is important now and simply saying they cannot introduce themselves for security reasons is a red flag. They may be a few who can justify it but that's rare.
I remember the students on ICO days who created their own ICO using their professors' names, profiles, and faces and received millions of dollars in offering. It's not that far from what is happening now.
I remember the students on ICO days who created their own ICO using their professors' names, profiles, and faces and received millions of dollars in offering. It's not that far from what is happening now.
As long as there will be more and more awareness to the newbies and this will be fine and i think that it will be wasting your time when you wanna prevent this. No one has capability to make the new token will be so difficult to be issued by people other than the developers. Scammers everywhere, even you can find scammer easily in your environtment. As long as people will be fully educated about how to detect and avoid the scam project and i do believe they will be fine. As crypto community and we must spread more and more awareness to make sure the new people will not be trapped by the scam project that issued by the guy who didn't even have basic knowledge of programming and he was only paying someone to create a scam token.
legendary
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It's just an attempt to be famous and a deliberate attempt by scammers in the crypto space, so actually that sort of thing has been around in the crypto space for a long time and now it's still around so there's no need to worry as long as you're there can still dodge it really well
Not just in crypto space but in every economy there will be such scamstars. Whenever the scammers find an easy way to set up a trap for newbies who might be confused about what to invest in, there will incidents like these and scam tokens.You may have seen projects coming up with buzzwords that are currently trending and eventually turning scam. There is no end to this problem and there will be people falling for such scams everyday. One needs to be careful when getting involved in projects like that without doing research.
It is rare that a project is legit and the results are good. Most of the legit projects also don't end up in good price. The project may have been a failure from the start or never got off. Usually it is better to just focus on Bitcoin and leave the altcoins out of this.
Most of them are tokens that are launched on centralized or decentralized networks such as BSC or Ethereum, and therefore more losses are in the form of fees, which may lead to an increase in the total fees if the blockchain is decentralized or the developers of those networks are rich.
any newbie user will not be able to start a new decentralized Blockchain network that cooperation between people around the Internet to make these things possible and therefore is just more spam of tokens.
Will these people affect crypto as a whole? no
any newbie user will not be able to start a new decentralized Blockchain network that cooperation between people around the Internet to make these things possible and therefore is just more spam of tokens.
Will these people affect crypto as a whole? no
Crypto is now the new money race for scammers hackers and dubious people around the world but my point still stands no one will do research for you if you can't do research on your own please stay away from crypto, with the right process of learning you will do just fine, mistakes are inevitable but you will thank yourself for not giving up on yourself.
Almost everyone I knew now creates their own tokens these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
It's just an attempt to be famous and a deliberate attempt by scammers in the crypto space, so actually that sort of thing has been around in the crypto space for a long time and now it's still around so there's no need to worry as long as you're there can still dodge it really well these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
I don't believe that people still hire smart contract developers this days because it takes minutes to create your own token yourself this is why we have too many shitcoins in this space today, if a project don't offer the following I'm not investing a pin.
1. Real team members
2. Teams with past blockchain records and histories
3. Partnerships with popular projects.
4. Good utility.
1. Real team members
2. Teams with past blockchain records and histories
3. Partnerships with popular projects.
4. Good utility.
Almost everyone I knew now creates their own tokens these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry,
How can you say almost? Have you compared the total populations with how many crypto that exist in the market? It's clueless. you didn't even provide the data that will be supporting your statement. People can pay someone to issue the token for them but this is not safe. What you are saying was a non sense thing. these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.
Why don't you tell those blockchain creators to implement KYC or verification to prevent it? None can prevent this. The problem is anyone who can also pay freelancer to issue their own token and you can't prevent them all to not issue the new tokens. Jump to: