Topic: Why are crypto devs so greedy - page 2. (Read 803 times)

In this case, you need to focus on the proper storage of your coins. Otherwise, we may lose our bitcoins if we improperly ensure their security. It must be remembered that if you do not have access to a private key, then this is not your cryptocurrency. And in this case, the most reliable will be the bitcoin hold on a cold wallet.

Well, greediness is a human nature, everyone has it's own level of greediness and the most obvious evidence for it, is the continued growth of technology while destroying the nature all at the same time.
Now, the most greediest person are those who are involved in money making investments like crypto currency and other investment markets.
So, it's not gonna be a big surprise if we see several devs who are consistently scamming people because WE are all greedy and always want to have the easiest way to make money.

Isn't it clear that exchange With a centralized system there is control.  In my opinion, the best solution is to always move the assets that we have if the amount is more than what we have determined.  Maybe in this way reduce the risk of too big a loss

And those that have experience in scamming people, they'll tend to do it again when they've successfully scammed a lot of people with the first project that they've done.
It's so sad to see that there will always be a victim of these scams because many are still not aware of the tactics that they do. We can avoid them easily but many can't because they really are the target of these con artists. It's an easy money for the devs and that's making them greedier everytime someone falls to their scam.

Factors that make greedy people are lust that never stops and only death can stop these lust, it is impossible for humans to be satisfied with what they have, the key to not greedy is always grateful, people who are greedy life will never be happy and always scared if The wealth is reduced.

Difference being, banks get bailed out by governments. But on some level you are right banks being same, at least from now on, because of the currect cluster of trainwrecks, CEXes will get tougher regulations coming. And they will be more trigger happy to freeze your account from now on in fear of sanctions of not complying.

I don't exactly know what you mean by full centralization, but that implies no fiat ramp and no backed stable coins. Taking fiat money out of the picture will remove most of the institutional investors and reduce the whole crypto marketcap next to zero. Because if you are unable to

And before you say cash and p2p, google FATF travel rule to see what's coming.

The market of cryptocurrencies is very similar to the Wild West, what I mean by this is that we cannot rely on anyone else but ourselves in order to protect our money, and we see evidence of this all the time, after all how many times we have seen developers scamming millions of dollars out of their investors and nothing happens to them, only when the scam reaches a huge size governments do something about it, as it is the case of the FTX exchange, but other than that we need to do our best protect ourselves, and one way to do so is by avoiding developers which only care about the money their project collects.

Greed is the first enemy of people wherein money can really change the people's mind, attitude and traits when money is involved. With greed in crypto industry, people intended to scam people especially from crypto developers. So, that's why always DYOR in any crypto projects and always invest what you can afford to lose.

I don't think mostly 8s because they are greedy. You know when the team is not as strong as possible, things always go wrong which is very certain. Most time it is when the team are having some serious issues that things went out of hand leading to crash of the market. We need to be very careful or we may become a consistent victim of this.

I only recommend Bitcoin as the most safe coin ever because of it decentralization and other factors that make it suitable for investment. If we have large holding of Bitcoin I'm our portfolio, I don't think we can fall into this kind of consistent crash of most crypto projects.

as we can't change these so-called greedy devs, the responsibility lies on the user himself. don't get tempted with too-good-to-be-true offers. also, these people are continuously doing their schemes because there are gullible people who take the bait of their offers again and again. if people will be more cautious throwing money to these projects, i guess these devs will stop their fraudulent projects.

What else to ask? Of course, they want to get a lot of money in this crypto industry. Because they always think that the crypto business is one of the easy ways to earn money. Maybe it can be explained with just a few polished concepts outlined in a project, making it very convincing, and making various promotions so that it becomes hype. And finally, they get a lot of investors. Getting a lot of investors means they get a lot of money. Here they might just focus on getting the money so afterward, they won't even care what happens to the project. Indeed there are some who still care and struggle, however, the crypto market is also sometimes very cruel so if they are not able to survive, they will fail very easily. It's not only about greediness, but also about many business-related things and games.

Since you are investing it also has a purpose, means you are investing with the purpose of profit. This means you are also greedy! There is no such thing as a completely secure platform that guarantees they won't do dirty work. When the crypto market started to dump, the crypto projects collapsed and now some people inside the project team are doing these activities. If proper laws are not implemented, these actions continue and Devs come up with new ideas and gain trust from the market and take money.

People tend to blame others when they fail but if in case they sell things sooner and make a profit then they assume they did the right thing and there is no fault here. I believe that investors just because there is no chance to become a developer if there is an opportunity to create a project or exchange, I am sure they will also tend to find a way to get money from other investors. That is the nature of the market, the fierceness of business, money cannot be generated and divided equally by everyone. To get profit, we have to become strong and compete for money from others.

I understand that greed could play a big part of this, but at the end of the day there is a smart greed and a stupid greed. Like let’s assume that you have 6 billion dollars of customers funds with you, would you spend all 6 billion to buy companies and make more profit?

Or would you spend like maybe 200-300 million dollars, which is still a ton, and buy some companies and nobody would even know that you spent their money? At that point people could withdraw 5 billion dollars, even 5.5 billion dollars and they still wouldn't know. This is why having stupid greed and not understanding finances is a bigger issue than just regular smart greed where you just want more money.

most people are greedy, they think about becoming rich and having mansions, yachts, traveling to the most beautiful and expensive places, so when they sit in their basement and start creating an altcoin they have this greedy thought and to To make matters worse, naive people are fooled that they are creating a revolutionary project, and people believe in it and invest a lot of money, when the project is launched and the creator of the altcoin starts to give news on twitter and he always starts to be lazy to develop the project but he is always traveling and lying that he travels to get partnerships, it makes me laugh a lot as many people keep believing these lies, years go by and the project is the same and people give up on the project but the owner of the project is rich


people have to stop believing in any project, this is the first step, the second they need to look at what the project creator has done great in the past, this is the only way to measure if the project creator is a person who starts something and ends or it is a person who starts something and does not finish, third step people should not be too optimistic and create illusions about the project, they need to analyze everything the project creator does and be quick to jump ship when the project dont WALK

Besides they become greedy because they themselves that they can do it with the help of greedy investors as well.
Of course, they are doing this to make a profit and sad thing is that people never understand their side and will then just say they are greedy. Because I was also a project developer, I will never hesitate to do the same thing because that is the reality when it comes to business. It could be sorry for those who can't accept, they might wanted to become more greedy than these developers.

Yeah, don't try to blame the developers when we ourselves are doing the same thing, we are just as greedy as them. When participating in a project, our goal is only to buy low and sell high and so are they. It can be said that the market is like a game where whoever is quick will win. The market is extremely fierce, no one will lose to anyone, there will be no game where both will win.

At least I mean for storing larger assets it can be said that it will be safer if they are stored in a bank, of course with the record that the bank itself is directly supervised by the nearest government. indeed every decision will have its own risk, we just have to minimize this risk as much as possible. I myself am actually still a user with cex problems, but I myself prefer to reduce the storage of assets contained in Cex.

Every investor should not rely on the outside look of the project they will invest in.
Always protect yourself. That's the rule in boxing and so with investing in cryptocurrencies. There will always be greed, and new projects coming out promising something in the future but we can not be stupid enough to just believe that.
During the NFT craze 2-3 years ago I invested in like 10 different NFT games. 2 of them rug pulled, 3 cannot prove their worth anymore and promises were broken, and the other 5 are still breathing but the value went down.
There's no such thing as perfect investment, glued with it is the risk factor.

I think they just became like that after they invested considerable funds to create the project and they needed quick income when they finally lunch it to recover their investment. I already see such kinds of scenario when they sell some of their tokens in the market like most NFT games does all the time. That's why we need to be careful when it comes to these kinds of people because after they sold their tokens, most of them don't have any plan to pursue or continue the developments of their project rather they leave their investors waiting for nothing.