They are milking money out of us | Bitcointalksearch.org

BitDane

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Quote from: tranthidung on May 05, 2023, 10:03:49 AM

Quote from: KiaKia on March 06, 2023, 03:51:21 AM

AI technology and crypto is like a sea with a mixture of water and oil.

Focus on useful utilities that is sensible for crypto in general, or just stick with Bitcoin, do not be one of those that will have horror stories to say about AI investments in future.

Cryptocurrencies are like stocks. If you have a company, have a product, have utility for your product, you will want to get money from it. Rather than stocks, they go with tokens that are more easily to be launched.

The problem with many cryptocurrency launched is that they are creating projects even without the fund to back up their project. Most of them are created to milk money from unsuspecting investors. Most of the cryptocurrency today can't be compared with stocks because majority of the cryptocurrency projects are created out of thin air and has no actual products but just a token which is intangible and has no purpose or real life use case at all.

Quote from: tranthidung on May 05, 2023, 10:03:49 AM

I don't think it is only limited to AI projects, but you can generalize it to altcoin projects which mostly are scam. Without real utility and many of them were launched with a trend. Although I have that stance about altcoins, I disagree with anyone to say altcoins are not needed for the growth of blockchain technology and cryptocurrency ecosystem. They are parts of the ecosystem and contribute for its growth as well as more regulations in this field.

that is what I am saying, most altcoin are just scam, a ponzi scheme where they spread news of huge profit upon investing on the project.

Quote from: tranthidung on May 05, 2023, 10:03:49 AM

Again regulations are necessary for cryptocurrency ecosystem and I disagree with anyone say regulations are bad for this ecosystem.

I am also one of those that when it comes to crowdfunding, projects should be regulated and registered to both commission and central bank (they intend to cater financial aid from investors so they need a license from the financial institution) to minimize scams.

boyptc

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★Bitvest.io★ Play Plinko or Invest!

I was just browsing and saw those projects that has attached 'chatgpt' on their names as bounties and even projects itself. It's not that serious at all whenever I see projects like this.

They truly gonna milk money out of those people that might think they're genuine projects.

While those people that will advertise it through bounties might think that it's gonna be a profitable project and their efforts will be worth it but for sure it won't be.

Mr.right85

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Activity: 1036

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We hear of AI and ChatGPT isn't far behind. This innovation is definitely making the rounds on every scale and we are as well aiding it's publicity despite the many ways at which we seem not to be a big fan.
It's a cool innovation from the most I've seen people say or refer to it but, I see it more useful for understanding a concept or studies rather than having it do what you ought to have done as a human with brains.

Also, the uniqueness of projects isn't about what's running it but really what it's got to offer. Vue your money a little more and be mindful where you put it.

Rengga Jati

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royalstarscasino.com

Quote from: KiaKia on March 06, 2023, 03:51:21 AM

Avoid AI projects at all costs if possible, unless you have some money you are ready to gamble with, think about it very well, crypto space and its projects are better off without AI, this won't last long, instead.

Maybe this is more about how we can use it to get profit, but not to invest our money there for a long time. Indeed, currently the AI project is being hype and many people say that this will have very good potential in the future. but of course, all things that are hype or are being planned for hype will definitely carry a high risk. And this contains important things to understand if we act wrongly and make decisions at the right time, we may lose the opportunity to take profits.

Renampun

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Activity: 2338

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enough with the hype on AI tokens, we all have to learn from the hype experience on DEFI - NFT/METAVERSE - MEME projects which are mostly only used to deceive potential investors. for those who have already bought AI tokens because of FOMO, then all you have to do is sell it all (if you have made a profit) but if you are still losing, all decisions are in your hands (whether you will hold or sell).

even those who are FOMO on the $PEPE token will only suffer losses soon. stop fomo on tokens or coins that have no real use case, focus on Bitcoin because no one will be the next Bitcoin.

tranthidung

legendary

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Farewell o_e_l_e_o

Quote from: KiaKia on March 06, 2023, 03:51:21 AM

AI technology and crypto is like a sea with a mixture of water and oil.

Focus on useful utilities that is sensible for crypto in general, or just stick with Bitcoin, do not be one of those that will have horror stories to say about AI investments in future.

Cryptocurrencies are like stocks. If you have a company, have a product, have utility for your product, you will want to get money from it. Rather than stocks, they go with tokens that are more easily to be launched.

I don't think it is only limited to AI projects, but you can generalize it to altcoin projects which mostly are scam. Without real utility and many of them were launched with a trend. Although I have that stance about altcoins, I disagree with anyone to say altcoins are not needed for the growth of blockchain technology and cryptocurrency ecosystem. They are parts of the ecosystem and contribute for its growth as well as more regulations in this field.

Again regulations are necessary for cryptocurrency ecosystem and I disagree with anyone say regulations are bad for this ecosystem.

pawanjain

hero member

Activity: 2702

Merit: 716

Nothing lasts forever

Everything in crypto, at some point, is used as a way of money making scheme. To be specific it's the ICO, DeFi, NFTs, Metaverse, Memecoins, AI projects etc...
More things will come and go but the ground reality will remain the same and that is more than 90% of the projects will scam you and become obsolete.
Either stick to bitcoin or ride the wave and sell your bags. Holding to the bags is where we lose our money.
As the OP say, they are milking money out of us (only if we let them to).

Sandra_hakeem

hero member

Activity: 798

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Goodnight, ohh Leo!!! 🦅

Quote from: Beparanf on March 06, 2023, 03:57:53 AM

Given by your rank. I think you should be aware on this kind of scheme on crypto. Not only AI technology but anything that become trending has a lot of shit project for the sole purpose of scamming people. Elon, Memecoin, DeFi, NFT gaming, metaverse and so on has a lot of shit project designed to scam investors that willing to risk on this project for a high risk high reward opportunity.

The right language is - peeps will always take advantage of anything that's new and authentic, in a bid to get some few bucks or so for misleading other people the wrong way, leaving a negative sensation on the project, all to the inventor's expense...
What baffles me the most Is why investors decide to take those huge risk for any project at all... they're only giving them net-gurus an impression and a chance that anything could penetrate and make them pay for something that's fake.

Sandra 🧑‍🦰

martian_guy

newbie

Activity: 5

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AI is the new buzz word and anyone using it for his coin will get some kind of attention. Just like the meme coins, every new sh1t coin used to go by this name or doge and stuff like that. There are always an original and then a 1000 copies of it. So find the original, and go for it but dont fall for the other 1000 copies. They'll milk money.

Coojhb

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Activity: 43

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Quote from: NotATether on March 09, 2023, 02:40:45 AM

Quote from: Coojhb on March 06, 2023, 04:03:51 AM

I remember there is "TrumpCoin" launched by the supporters of the then President of USA Donald Trump.

"Almost six years after the coin launched, Donald Trump's son Eric has publicly disavowed the project for the first time" https://coinmarketcap.com/alexandria/article/fraud-alert-trumps-plot-legal-action-on-trumpcoin

It is no surprise that anything in news comes to crypto with some catchy token name. Better refrain from such projects and focus on Bitcoin along with top ALTs.

And some time ago some dudes also made a meme coin out of Kanye West and he took legal action against them, so they shut the project down

There is long list of such projects and coins. The irony is that it's still happening despite so many examples of scam / fraud in the past.

These days Artificial Intelligence is hot topics, so we have lots of AI based coins pumping up.

Smack That Ace

legendary

Activity: 1974

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Free Free Palestine

We need to keep this in mind, the altcoin market is a pump and dump market, there is no future technology there. All altcoin projects are just empty box and labeled "technology" Investing in altcoins is gambling, so once you've made a profit, never return to a second bet.
Real technologies are being developed by major technology corporations in the world, crypto projects are just looking to sell tokens for profit. What's going on in the crypto industry is a money game, where someone makes a profit, and someone loses.

sokani

sr. member

Activity: 658

Merit: 441

No doubt AI is one of the trending topics in the crypto space, but the rate at which AI- related projects are being created are alarming and social media influencers and celebrities are also helping to fuel the spread of these projects.

Quote

Elon Musk @elonmusk:
“I used to be in crypto, but now I got interested in AI".

https://twitter.com/elonmusk/status/1631720134636367872?t=nnOI5hVygwJCXZwFje35mA&s=19

Most of these projects lack use cases and present opportunities for devs and call channels to make money from unsuspecting investors. My advice is to stay clear off such projects and invest in bitcoin and other altcoins like ETH, BNB etc.

NotATether

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bitcoincleanup.com / bitmixlist.org

Quote from: Coojhb on March 06, 2023, 04:03:51 AM

I remember there is "TrumpCoin" launched by the supporters of the then President of USA Donald Trump.

"Almost six years after the coin launched, Donald Trump's son Eric has publicly disavowed the project for the first time" https://coinmarketcap.com/alexandria/article/fraud-alert-trumps-plot-legal-action-on-trumpcoin

It is no surprise that anything in news comes to crypto with some catchy token name. Better refrain from such projects and focus on Bitcoin along with top ALTs.

And some time ago some dudes also made a meme coin out of Kanye West and he took legal action against them, so they shut the project down

Quote from: hatshepsut93 on March 06, 2023, 05:22:27 PM

Welcome to crypto, it has been always like that. We saw ideas like blockchain for medical records, blockchain for green energy, blockchain for digital identity, blockchain for the unbanked, blockchain for file storage, blockchain for virtual reality and hundreds of other ideas - all of them didn't result in anything even remotely viable. Because pretty much all of them were just scams, the formula is to create a token for something that is already hyped and watch investors put their money without doing any research, because they believe they are investing in the future.

You can't invest on something that is not even being actively developed by a lot of people. That's how you can tell whether something has a future or not.

Husires

legendary

Activity: 1596

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You were right in several parts. Not any business that claims to use artificial intelligence is like that, just as artificial intelligence is not a project that needs to be funded by symbols, but rather a company that needs billions to be pumped into it, and after several years you will get results from it.
Just as Microsoft did with ChatGPT, some companies are doing with different AI applications.

They are not only scammers, but their model is based on promises that they will not be able to deliver.

suzanne5223

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Want top-notch marketing for your project, Hire me

If you do research about the cryptocurrency we have in the market, you'll be surprised that the cryptocurrency that shouldn't be created or created for no genuine purpose than to enrich the dev team's purse and run away with the investor's fund is more than the genuine crypto we have in the market.
This is a sad story about the crypto market and is sad because sooner or later it will make the government the regulation of the market just like we see when they introduced KYC/AML when some naive people abuse the beauty of cryptocurrency.

tech30338

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Quote from: KiaKia on March 06, 2023, 03:51:21 AM

AI technology and crypto is like a sea with a mixture of water and oil.

If you are so into these AI narratives, have it in mind that these must be treated like meme coins, take profits aggressively and never look back.

If you go on dex tool search you will get over 200+ crypto projects with gpt and AI names on them and there are currently over 1000 AI projects now in the crypto space.

Few have a good use case, like one that generates AI pictures, but the question is why this needs a token. Some even went ahead and raise funds from the public, like seriously? What for?

Some Facts About AI projects in Crypto

*No AI project needs a token, it makes no sense.

*They are 99% Ponzi schemes.

*The real ChatGPT has nothing to do with crypto, that's why they stayed off.

*Ride the high wave and dump on retail investors, that's the goal.

*Some can be bought and can not be sold later, so only the dev gets rich.

The likes of Fetch and Ocean are data exchange and marketplace-based projects, they have nothing to do with AI, another good example is the Graph, it's all about on-chain data still, and these are the big players under the so-called AI project and they barely have anything to do with AI.

I have completely lost my respect for some big projects that existed before the AI hype begins, and they audaciously start tweeting 🐦 about AI stuff for their projects, why is that? To ride along the hype and get their bags pumped.

Avoid AI projects at all costs if possible, unless you have some money you are ready to gamble with, think about it very well, crypto space and its projects are better off without AI, this won't last long, instead.

Focus on useful utilities that is sensible for crypto in general, or just stick with Bitcoin, do not be one of those that will have horror stories to say about AI investments in future.

All that you read is a part of marketing strategy, even in the real world, it happens, you must be curious and ask question for example on mall sale they will say that, buy one take 1 for 100$ but the real price of the item is 50$ each, lots of people will buy it without thinking straight, just because lots of people do, now in crypto is the same thing, people will do marketing, its for you to know first before you jump in, the pump and dump is already there you just have to be ready when to jump-in and out, there will be use for blockchain in chatgpt, regarding the coin, for that, it might be for payment, or gas for transaction we do not know, but we only need to be curious and cautios on something.

Jon_Hodl

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Humble Bitcoin Stacktivist

AI is the hot new topic because AI is now a mainstream tool. It will become just as important and integral as the internet and social media sites.

"AI is not going to replace people.
People using AI will replace people not using AI."
- @BTCGandalf

In 10 years, knowing how to use AI will be like knowing how to use a computer or smartphone. Scammers know that AI is the hot new thing and so they are quickly riding this new hype train to make easy money from unsuspecting noobs who don't know what they're getting into.

Next will be "quantum coins" and then "dimension coins", or "space-time coins" or "time travel coins" or some other nonsense. Criminals and scammers work in a very high reward field so they are always looking for any new tools at their disposal to swindle their next victim.

We have to be vigilant and keep producing quality bitcoin tools and content to educate the new users to simply, buy, self-custody, and hodl until they decide that it's time to spend.

Getmon

sr. member

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Despite my reservations about the creation of AI projects, AI can flourish without the use of coins and tokens. It is critical that we are careful in engaging in these fraudulent projects. However, this is not brand-new to crypto. After the success of bitcoin, an unlimited number of altcoins were created as a result. But some of them, like Ethereum, are now useful. Again, there is a significant risk for investors due to the fact that the majority of altcoin projects are only doing it for profit. However, I am not entirely arguing that it is a bad idea to create crypto projects from well-functioning industries because doing so may enhance the system.

Sandra_hakeem

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Goodnight, ohh Leo!!! 🦅

Uhmmm, we all know that these projects are made to become scalable, and its average statistical advantage on the Total percentage of android & iOS in the world's population concensus is much than exaggerated... that's majorly the reasons why it's been hyped all over the net yeah?
But I don't think we need an AI bot in our whole cryptographical system, cus what for?? These junks are simply created from a human's simplified analysis, and it works according to limited instructions, like it or not.
IMHO, these bots were created for little jobs like say - script writing, copy writing, Ponzi, network filing, guides etc, it wasn't supposed to go this far,.... Or are there any exceptions or advancements lately??

Sandra 🧑‍🦰

hatshepsut93

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Quote from: KiaKia on March 06, 2023, 03:51:21 AM

Few have a good use case, like one that generates AI pictures, but the question is why this needs a token. Some even went ahead and raise funds from the public, like seriously? What for?

Welcome to crypto, it has been always like that. We saw ideas like blockchain for medical records, blockchain for green energy, blockchain for digital identity, blockchain for the unbanked, blockchain for file storage, blockchain for virtual reality and hundreds of other ideas - all of them didn't result in anything even remotely viable. Because pretty much all of them were just scams, the formula is to create a token for something that is already hyped and watch investors put their money without doing any research, because they believe they are investing in the future.

Topic: They are milking money out of us (Read 358 times)