Why are crypto devs so greedy | Bitcointalksearch.org

Insanity

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Quote from: wastagnn on December 12, 2022, 09:32:52 PM

Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

The majority of crypto collapse always comes from the centralisation part and of cos the human greed, what do you think is the proper solution for these? To avoid hurting crypto investors and how to guarantee that their funds is safe with any platform, either Staking, Lending or Trading.

What is the way forward? What solution do you think will be effective?

Greed is human nature, and certain desires make people more greedy. Everyone wants to make a lot of profit, many people see interest in the crypto world and they think it is the easiest way to make money. Many developers have entered the cryptocurrency space with the intention of making more money, hyping and publicizing to attract more investors.

I think if a person gets greedy then that person will not be able to survive in the market for long. He will perish very quickly. You can never be greedy in the market. If you can survive in the market without being greedy then you will be in the market for a long time. You can. And if you ever get too greedy, you will quickly leave the market.

wastagnn

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Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

The majority of crypto collapse always comes from the centralisation part and of cos the human greed, what do you think is the proper solution for these? To avoid hurting crypto investors and how to guarantee that their funds is safe with any platform, either Staking, Lending or Trading.

What is the way forward? What solution do you think will be effective?

Greed is human nature, and certain desires make people more greedy. Everyone wants to make a lot of profit, many people see interest in the crypto world and they think it is the easiest way to make money. Many developers have entered the cryptocurrency space with the intention of making more money, hyping and publicizing to attract more investors.

landheer

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indeed there are lots of people who lose big because of investing in crypto. and that is the risk, but for investment solutions, it's best to invest in bitcoin, the risk is not too high. Just try to pay attention, I think people invest and get huge losses because they invest in altcoins. try if the investment is in bitcoin maybe the risk will not be too high.
and what makes people lose so much in money, because they invest in low quality altcoins. but if they invest in quality altcoins, of course the risk will not be too high.

so the point is that investing in crypto is still the safest bitcoin. the safest altcoins are still, ethereum, bnb, xrp.

RealMalatesta

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Quote from: TheUltraElite on December 12, 2022, 09:47:30 AM

Quote from: BlackPinker on November 29, 2022, 02:05:01 AM

There is greed in any industry, such as the stock market? I think there is no essential difference between the bloodshed of encryption and the greed that appears in the stock market and various industries. The most important thing is whether the industry is developing and gradually tends to be rational and healthy. This will not only take time , It also needs leaders with ideas and technology to come out and purify the situation.

Well decentralization has tried to curb these human problems though the problem still exists because complete decentralization is a difficult setup to process. Today most people entering this sphere only look for the quick gains, this leads to non-buying or established assets like Bitcoin and buying or shitcoins and investing in platforms that are less-tested and only based on hype.

Eventually these people understand their folly and they learn their lesson or just leave with a loss. The developers or any project are in for some gain, you have to understand this right away. But your objective would be to diligently invest and get out in time. For shitcoins this is often a myth and by all means they are called shitcoins for a reason.

I have to say it is not going to be that easy to convince people that it is not a marvellous idea to start a new project. Lets be honest with each other we are talking about one of the best ways to make money and that means it is not going to be that shocking for these people to keep spouting newer and newer stuff. It is easy to fall for something that looks good, but 99.99% of all new projects are just way of making money for the devs, and why would they even stop? That is why we just have to learn to live with it.

I personally do not invest into anything that has either lower than 2 million dollars marketcap, or anything that has been released to public in the past 3 months. It has to be over 3 months since release and has to be over 2 million dollars to see if they are legit.

TheUltraElite

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Quote from: BlackPinker on November 29, 2022, 02:05:01 AM

There is greed in any industry, such as the stock market? I think there is no essential difference between the bloodshed of encryption and the greed that appears in the stock market and various industries. The most important thing is whether the industry is developing and gradually tends to be rational and healthy. This will not only take time , It also needs leaders with ideas and technology to come out and purify the situation.

Well decentralization has tried to curb these human problems though the problem still exists because complete decentralization is a difficult setup to process. Today most people entering this sphere only look for the quick gains, this leads to non-buying or established assets like Bitcoin and buying or shitcoins and investing in platforms that are less-tested and only based on hype.

Eventually these people understand their folly and they learn their lesson or just leave with a loss. The developers or any project are in for some gain, you have to understand this right away. But your objective would be to diligently invest and get out in time. For shitcoins this is often a myth and by all means they are called shitcoins for a reason.

sulendra12

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Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

The majority of crypto collapse always comes from the centralisation part and of cos the human greed, what do you think is the proper solution for these? To avoid hurting crypto investors and how to guarantee that their funds is safe with any platform, either Staking, Lending or Trading.

As a end-user? You can't do much about it where the only job for you as a end-user is to invest, the only thing to do is just be selective on what projects should you invest next.
Also there is no way to make funds "guaranteed", since the amount of coin you do in those 3 activities will be different at the end and most of projects using staking as their main project probably end up failing because they keep setting high APY where if you filter it with clear mind then it's not going to be true at all.

BlackPinker

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There is greed in any industry, such as the stock market? I think there is no essential difference between the bloodshed of encryption and the greed that appears in the stock market and various industries. The most important thing is whether the industry is developing and gradually tends to be rational and healthy. This will not only take time , It also needs leaders with ideas and technology to come out and purify the situation.

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Quote from: doomloop on November 25, 2022, 04:08:33 PM

It looks like they have the same mindset to those newbies who jump in quickly without learning first because in their heads, they only want to make a profit but the only difference is that some of the devs have an intention to scam while the newbies are legit investors. They earn their money in a clean way and they are only hoping to multiply it by investing in cryptos.

If we are talking about nft and nft games. I think these two won't solve any blockchain related problems because they have their own field. Nft games must only focus on entertaining their players and at the same time provide them profits while for the nft, they are just a collectible, nothing special about them.

NFT games are still quite reasonable and provide entertainment, and the types of games are also quite diverse. Meanwhile, NFTs are just collectibles, which whether we buy them will be more expensive or not, it depends on the hype for the NFT collection. Like the NFT APE which is quite popular because Elon Musk uses it for his Twitter account profile photo. But look at the moment, the price of NFTs has fallen sharply. NFT is just a Speculative collection created by the developers to earn a lot of money from the transactions made.

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Quote from: Silberman on November 28, 2022, 12:33:45 AM

Quote from: ?? on ??

Of course they are impatient so they want to immediately enjoy the results of the project they have made, most developers take advantage of the ease of making projects so that they are very vulnerable to scams, and when the project looks enlarged and has good prospects, they are trying to cheat for example by adding stock.

True, however most of those so called developers have not really wrote a single line of code before they ask investors for millions of dollars, if they had a product or service ready when they ask for so much money I think I could understand such a petition, but this is not the case and yet investors still decided to invest a lot of money when the only thing the developers have at the time is a white paper and a website, and once they get their goal it is very easy for those developers to just disappear.

They are greedy and smart developers.
This has already happened several times and it is supposed we are aware of it but guess what, many are still falling into scam projects. This will tell us that scammers and greedy developers still winning from greedy and impatient investors. As long there are investors who have the kind of thinking (instant profit), we can really expect that the scam projects will come out and find a victim again and again.
- If we are thinking to benefit from them, they are also thinking about how to trick us.

Silberman

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Of course they are impatient so they want to immediately enjoy the results of the project they have made, most developers take advantage of the ease of making projects so that they are very vulnerable to scams, and when the project looks enlarged and has good prospects, they are trying to cheat for example by adding stock.

True, however most of those so called developers have not really wrote a single line of code before they ask investors for millions of dollars, if they had a product or service ready when they ask for so much money I think I could understand such a petition, but this is not the case and yet investors still decided to invest a lot of money when the only thing the developers have at the time is a white paper and a website, and once they get their goal it is very easy for those developers to just disappear.

sukmo

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To be honest, most of us all have greed, when we join a project, we want to profit from them, so do they, don't blame them or blame them. As long as we control our greed, if you are not greedy, don't want thousand percent profit and you invest in bitcoin then you will never fall into their trap. The market is a battlefield, where there is only 1 winner and 1 loser, there is never a winner winner situation.

There are however Guidelines that will scrutinize, penalize some lawbreakers or criminals who make investors suffer. It's hard to come up with a perfect solution for everything but with the right encouragement I think the crypto community will do better.

We all also have to understand that with the consent given at the beginning of your registration before agreeing to it, we cannot blame the platform if it is your negligence. the best solution is to find a platform that is responsive to unusual transaction activity and can compensate its customers if it is the fault of the platform itself.

dothebeats

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This does not elaborate why crypto devs are 'greedy'. This just points out one negative thing about investing in crypto and the system that's in place causing it to fail. Devs are greedy because they think of securing assets for themselves by means of premine and shaky roadmaps that are intended to fast track their coin's way to an exchange so they can receive their paychecks. They never bother hearing about suggestions. All they want is to take the profits and give minimal attention to the coins they are supposed to take care of.

coin-investor

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Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

The majority of crypto collapse always comes from the centralisation part and of cos the human greed, what do you think is the proper solution for these? To avoid hurting crypto investors and how to guarantee that their funds is safe with any platform, either Staking, Lending or Trading.

What is the way forward? What solution do you think will be effective?

Be educated and moderate your greed, always double check and be updated on the news in the market, you are on your own when investing in the market always quick to withdraw your support when something right is not going on, about the hype and only invest on coins that have proven its worth in the market, what happened to FTX can happen again so always be on the watch on your portfolio, too much attachment to a coin except Bitcoin will incur losses.

wheelz1200

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Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

The majority of crypto collapse always comes from the centralisation part and of cos the human greed, what do you think is the proper solution for these? To avoid hurting crypto investors and how to guarantee that their funds is safe with any platform, either Staking, Lending or Trading.

What is the way forward? What solution do you think will be effective?

Solution? Stop putting your money into every coin that pops up. Until people start smartening up this will never stop. In fact it will only get worse and worse as it's known you can make a quick buck starting a crypto scam. Invest in known coins and leave the trash heap of coins and tokens alone. Greedy investors feeds greedy devs

Raflesia

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_""""Duelbits""""_

In saying this, I actually feel that we also have to look in the mirror to ourselves whether we are indeed greedy or not.
I mean with the conditions in Crypto, which sometimes people say is a profit field, it's clear that everyone, including myself, will be greedy with this as long as I can, then I will get it.
And this can also answer why we are always greedy. On the other hand, within us, we will never be satisfied in any way, so it is quite natural that there are many people here who are greedy.

doomloop

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Quote from: AakZaki on November 25, 2022, 05:55:20 AM

Quote from: Eureka_07 on November 24, 2022, 08:16:15 AM

Most of newly created projects in cryptocurrency does not have any intention to solve the problem that our blockchain currently has. A lot of developers/founders of these projects are just here to take profit. So with that, they tend to be more greedy.

and in fact it is so, the developers of new projects mostly just want to get a lot of profit without thinking about the project they built at the beginning. When NFT projects and games are hype, there will be many new developers who start developing new NFTs and games, but they just want to earn investors' money regardless of the outcome.
Therefore it is necessary to carry out detailed research in order to know how to distinguish projects that do have good and long-term developers and also to solve problems that are owned by blockchain or others, so that there will not be a project that will only become trash.

It looks like they have the same mindset to those newbies who jump in quickly without learning first because in their heads, they only want to make a profit but the only difference is that some of the devs have an intention to scam while the newbies are legit investors. They earn their money in a clean way and they are only hoping to multiply it by investing in cryptos.

If we are talking about nft and nft games. I think these two won't solve any blockchain related problems because they have their own field. Nft games must only focus on entertaining their players and at the same time provide them profits while for the nft, they are just a collectible, nothing special about them.

AakZaki

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Quote from: Eureka_07 on November 24, 2022, 08:16:15 AM

Most of newly created projects in cryptocurrency does not have any intention to solve the problem that our blockchain currently has. A lot of developers/founders of these projects are just here to take profit. So with that, they tend to be more greedy.

and in fact it is so, the developers of new projects mostly just want to get a lot of profit without thinking about the project they built at the beginning. When NFT projects and games are hype, there will be many new developers who start developing new NFTs and games, but they just want to earn investors' money regardless of the outcome.
Therefore it is necessary to carry out detailed research in order to know how to distinguish projects that do have good and long-term developers and also to solve problems that are owned by blockchain or others, so that there will not be a project that will only become trash.

dlightag

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They is no safe platform for cryptocurrency stability, is a game of up and down stream, which has to do with a patient after investing on the coin, because, may be happen after staking coin may be on bullish during the staking period and has not complete, which most platform has already lock the token and nothing you can do at that point, until do time of stake.

Victorik

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Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

The majority of crypto collapse always comes from the centralisation part and of cos the human greed, what do you think is the proper solution for these? To avoid hurting crypto investors and how to guarantee that their funds is safe with any platform, either Staking, Lending or Trading.

What is the way forward? What solution do you think will be effective?

The bottom line is that because people who run the scam projects end up getting away scot-free and this is the more reason why it will persist.

As long as people know that they can always get away after committing a crime, they will devise means of scamming people.

Personally, their should be legislation in this regard to ensure that these criminals are adequately dealt with. I am sure it will serve as deterrent to others

Eureka_07

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Quote from: YellowSwap on November 11, 2022, 07:58:45 AM

Most of newly created projects in cryptocurrency does not have any intention to solve the problem that our blockchain currently has. A lot of developers/founders of these projects are just here to take profit. So with that, they tend to be more greedy.

Topic: Why are crypto devs so greedy (Read 875 times)