Topic: Why are crypto devs so greedy (Read 825 times)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

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.

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.

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.

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

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.

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.

Most of the projects created in this market are scams to begin with, and as you may guess the purpose of such projects is to enrich the developers, so in those cases there is nothing which can be done, however the few legitimate projects which are out there suffer from a centralization of power, in which the developers can do whatever they want and there is not system in place to regulate their actions, this is the same issue we have with fiat currencies and it is the reason behind some of the biggest crashes we have seen in this market, so with this in mind decentralization seems like the only answer we have available at this time.

It's the ways of the world, that's the answer. Human greed is an element in any venture, whether crypto or non-crypto, not just devs. So if have an upcoming project, always watch it closely, and keep your coins closer

Banks are actually not different from a centralized exchange so it's weird that you are now cautious of using a cex but now more confident in storing money in your bank account. It only look like banks are more secure than any other cex it's because you can see them in the real world and most of them are already there even before but they can still be able to freeze your account for some reasons or they themselves can go bankrupt later on.

There are many banks like that, who are being reported though in the past. I hope this will now open your eyes and also to the users that will read this. Full decentralization is always the way to go.

It is undeniable that after many recent events, we are required to be wiser in asset storage. it turns out that big cex does not guarantee its security, so if it is stored in the wallet itself it is vulnerable to hacking. At the moment it's more realistic for me to keep my assets in a bank account, and keep some of them in the hardware wallets I buy. hope this can be a solution for me.

One thing everyone can agree on is that centralization is essential for the long term of cryptocurrencies. There needs to be a way for people using cryptocurrencies to do so without putting themselves at risk of fraud, theft, or other scams that could hurt investors.

Unfortunately, this decentralization is difficult to achieve due to the nature of cryptocurrency itself. Because there is so much room for scams and theft, ordinary people who are new to investing in crypto are hesitant to get involved because there is really no way for them to avoid the risk.

If you register on a CEX or a crypto trading platform, keep the money in moderation. Don't keep all your crypto assets there, the goal is clear because of security issues.

There is no right solution to overcome greed unless people know how to control their own greed. And if investors want security for their assets, they don't need to store their coins and tokens on exchanges but instead store them in their personal wallets.

But surely, there will be a lot of people who will get greedy seeing the offers given by each exchange so they want to try to get it. We must be careful in choosing the exchange because once we send the coins and tokens to the exchange, we cannot control it completely.

I have to be a bit ashamed to admit that some of my money is in binance and I am not planning on taking it out.

It’s true that I distributed my money into 4-5 different places, some of them are quite secure (my ledger nano) and some of them are semi-secure (metamask) but some of them are not so secure or at least secure but not guaranteed like the money in binance. That’s the type of business we are in, binance is all the action is taking place, so I trust them, and they are much larger than FTX, so it’s not as bad and not as risky as that so I feel like it shouldn't be a problem. I know people will say that’s still a bad decision, but I feel like it’s really not that big of a deal.

How to limit the new projects?
I think it is impossible to do. Crypto is decentralized, there is no person or institution that controls the number of new projects. As far as there is an opportunity for new projects to grow and survive, there will be always new projects to launch by the developers. Unless no one is interested to join new projects, we may see a decrease in new projects.

It is a bit complicated to punish them since they are from varied countries. Moreover, sometimes we don't have enough information about their identities. The best way is to avoid joining a project that has uncertain team identities. Especially, the team members are anonymous. I personally won't join the project with unclear team identity.

The government will control us like they control the stock market and forex, they control everything from fundraising to your pocket. The market will definitely become more stable once regulations are in place and that's something that many people don't want that to happen. If you want high returns then you have to accept high risks.

If you don't want to be scammed, just stop being greedy and avoid hype projects, you will definitely never be scammed. Invest only in bitcoin and store it in a non-custodial wallet.

You should not blame the developers, they are just like us, they are here to make a profit. When you buy tokens, your aim is also to wait for a high price to sell for profit, you don't intend to invest long term or support the project to the end and the developers are no different than us, they also don't want us to dump the garbage on them. The market is a battlefield, if you are not brave enough you will become food for them and vice versa. We shouldn't be blamed when we lose, and if we can't win in this market, find another market that is more suitable.

Simple. Absolutely transparent reserves. In that way it doesn't require trust but investors can check where their money is when ever they want. Also connections to other firms, loans would be investments included into this.

Or all of their finances need to be audited more often. I don't think that would do though as in crypto, things could go south in few days, and it would be time consuming and auditing costs a lot.

The greedyness was coming since they got a chance to fool others. I meant look at what already done by so many scammers like SBF. These guys were fooling its users. The latest report says that money from customers being used to bought house for FTX employess which is unacceptable.
The hacked case was also insider job and he might be a staff from alameda or FTX itself. I guess the greedy guy will always try to fool people no matter what happened with them.
So many times crypto being hurt by the greedy people. These greedy people just like pleague since they were not only preventing the ecosystem to growth but they are also ruining people's life.

True, it goes on the line like, greedy developer meets greedy investors.  We cannot blame investors to promote their investment.  They wanted to gain profit so they will do everything they can just to pump the price of their holdings.  Besides, investors are already committed to the project with their funds so it is normal for them to vouch for the project where they are invested.


We should investigate the project first, if it is all hype and no development then it is the time to keep away from them.



Definitely agree but somehow we should choose the project that has the most room to grow in price if we wanted maximum profit.

Government regulation doesn't meddle with market movement unless they find it suspicious.  It is also good to protect people from buying maliciously hyped projects.  I don't think having the government regulate the cryptocurrency project crowdfunding will hinder our freedom.  we are still free to chose what project we support.  Besides it is always better to have a stable market than the unstable one.  At least we are sure that we are able to sell our tokens if the need for extra money arise.

Well in the end i think you always have the risk that a project becomes to decentralized no matter what type of consensus mechanism it has. In the last few months after the Ethereum merge a lot of people were pretty negative about it because now the big ETH holders, which means the big exchanges like Binance, Coinbase and Kucoin for example have a lot of power over the network now. As far as i know though that was not that much different before the switch to PoS happened because before there were huge chinese mining companies that were in charge of big portions of the mining power of the ETH network, which was not better.

On the other hand, investors are also greedy too especially those who are shilling the projects.

The solution to not be doomed by these hype projects is to keep away from them.

There are lots of projects that have already shown stability since their inception. Might want to consider putting money on those instead of new hyped projects.

Because every human wants to get a lot of profit, they become greedy. The solution is not to be too greedy and always try to provide good service to investors so that investors can be satisfied. And if the investors are satisfied, they will trust the platform and continue to use it without any worries. If one platform can do this well, it can surely grow, and when that happens, the money will come to them without them having to get greedy.

It's a solution but it's not quite as beneficial as you think. Regulations will eliminate scam projects or scammers will be punished and investors will be protected but we will no longer be free, they will control us all the time and we will no longer be able to see the hype of the market. Once there is regulation, I believe the market will become more stable and harder to make profit. If you are looking for a regulated market then securities are what you are looking for, don't bring any regulation to crypto.

Any centralized platform is not safe, I would not expect anything, and I won't even try to look for it because you are just going to waste your time.
Cold wallets are the only solution to keep your funds safe. Keeping it in an exchange is like a ticking time bomb.
About the projects created by developers, it is still up to you and your research to filter how trustworthy it will be for long term investment.
Not all of them are greedy, some do have a goal to use it as a service for the people but supporters in this era have a different point of view on how they will invest. More on hype and trends, not the project within. Just look at memecoins now, how much money is invested there.

The best chance is via investing through trusted platforms such as direct investment to let’s say ETH staking on their contracts directly. Centralised exchanges could not be trusted anymore and if someone still wants proof of this then they should really leave the crypto world and stay happy with the FIAT. The only way to survive crypto investments is to trade quickly, move profits and initial amount towards your wallet door immediately.

Coming to the part of devs, well what to say about “greed” when it comes to money in millions humans change their minds. Sad reality of the current world. Stay cautious stay safe.

They become greedy because they wanted more achievements, that was the reality. In fact, I was also at that point but of course, we know our limitations and we do it in the right way. Maybe if we are saying TOO much greedy, then that is the wrong OP. But I guess, you are pointing out scam projects and the developers don't just look at the future of the market but their own benefits. Really disappointing that there are a lot of people who did and ruin someone's life themselves.

Staking, lending and trading platforms are all mechanisms through which people can actually make money investing in crypto and if they do it right, users won't complain too much about the downsides. After all, at least users don't throw their money into the website and wait forever without showing anything.

Putting money or rather the better term is storing money on exchanges. There is always some people who will keep doing this and the people who do such things are not visiting this forum regularly.

Being greedy is common but bad luck can hit and exchanges getting hacked is pretty common.  We have to reduce the amount of money kept there for regular transaction as much as possible.

Offline wallets are always safer as compared to online wallets.

There is no guarantee. If an exchange or platform says that your funds are "guaranteed" safe, then they are lying. The only way to keep your funds safe is to hold your coins in wallets that only you have access to. The wallets were you own the private keys and no one else. Want to trade? Use decentralized exchanges. Yeah, they aren't very popular or easy to use for most users, but still better than using a centralized exchange or platform to exchange your funds. If you still want to use a centralized exchange because of the features they provide, then once you are done trading, withdraw your coins. Don't hold it there. If you want to stake, then stake the coins using your own wallet.

If you want to be safe individually, then avoiding or minimizing the usage of centralized platforms would be the best action to take. That way any immediate damage from these platforms wouldn't necessarily affect you, though it will inevitably damage the market which can damage your investments in a way, so it's still going to damage you indirectly.

Another way but for everyone not just you are proper regulations that support users. It's going to take a lot of time and effort though, so for the time being, proper education about the current crypto scene would help an individual investor protect his funds at the very least. And it's not really a surefire way to trust a third party or regulations at times, at the very least, it's still best to rely on yourself for the most part.

Not just cryptocurrency developers, everyone is greedy.
Crypto developers will get into the cryptocurrency space for more money, and they see an opportunity to profit in the crypto industry. Many altcoins are created to defraud market investors of funds.
There are also some greedy investors who always think that they can make quick profits by investing in altcoins in the short term, but end up losing a lot.

I feel you. It seems that right now, there's no one can trust, even Decentralize Finance (DeFi) platforms are vulnerable, and even reputable and huge centralize platforms are failing too.
It is also bad timing for all of these since the cryptocurrency market recently started to tank. It seems that no one is an excuse.
But for this issue, I rather go with Decentralize Finance (DeFi) rather than centralized. And another good solution is on Bitcoin, go for Bitcoin and use non-custodial wallets, and that's it.

Not only are people greedy in cryptocurrencies, but people in any investment industry are greedy. Don't trust anyone, not even your friends. Don't put all your money on exchanges.

The funds are safe only in one place. That is your Cold Wallet. If you are thinking that you funds are safe online. So this is your mismanagement or you can you are foolish.
Funds are not safe online like you can see Mtgox and FTX example. They just stolen money wisely. So keep safe with your offline wallet.

What is the solution that will be effective? Then stay away from investing in new projects regardless of how worthy it is if you don't understand the risks you are dealing with. The problem is sometimes not with the projects but with investors themselves thinking their money will be x10, x20, x50, x100 in the future if they will invest in these said projects.

I know DYOR is always applied by these investors before putting money into a project but it's really hard to deal with the speculative market of crypto.

The only solution is to avoid them. The problem isn't just that majority of the cryptocurrency developers are greedy and selfish, it is also that many of us are as greedy as them. So when a greedy developer offers us a product that claims to give us money or make us rich, we are easily carried away. So without enough research and effort to do due diligence, we entrust them our money.

This is precisely what is happening with crypto platforms that you mentioned, staking, lending, and trading. I will add altcoins, IDOs, and NFTs to that list.

What is the way forward? Let us all avoid all these predators.

As Kevin Mitnick said, the biggest flaw of a system is people. He said it as a vulnerability, but everywhere with humanity touches is open to abuse. With the centralisation you already know what is the possibilities for you.

I believe regulation.  Since most of altcoins are centralized blockchain since dev have full control of the system, I think it won't hurt if government step in.  It is good to see projects that are asking for money to have permission and proper approval from the government.  This way greedy and wicked developer will be filter.  

At the current condition, I believe not patronizing their project is the best and effective way to deal with these greedy dev.

When it comes to greed, it is a feature that is necessarily found in every human being. There is a phrase that I always use against my environment; Even the richest people in the world are doing something to add wealth to their wealth and making huge amounts of money. In other words, every person, rich or poor, needs money. I mean, even if these people have enough money to support themselves, the more money they earn, the more their luxuries increase. So greed stems entirely from that.

Investor awareness or education. There's nothing more important than that. Even the Government authorities keeps reminding people to be more discerning in choosing investments. These greedy developers gets their way because there are always gullible and ignorant people.

Since crypto become so popular among so many parties is if it's the easiest way to make money and then tons of developers were coming to the crypto with various motive. I rarely seen the developed who developed the product without money as motivation as majority of them are only seeking money from the crypto. The problem is their greediness already out of the box just like FTX's case. If FTX was not using customer's fund to put it into the alameda and i think that everything gonna fine but since FTX was putting lots of money into the its VC and then when massive withdrawal was happening and exchange site can't provide enough liquidity for people who in demand to withdraw their money from FTX. Human is always having greed as part of it but it's about how human can control it properly or not.

The solution is not to overuse existing centralized platforms like betting exchange platforms and others and have 100% trust that they will always be secure, they can be hacked or the developers rugpull, use them sparingly, you can still use centralized exchanges but never leave funds in there in the long term, feel free to do staking but only for a short time.

News notifications in this forum also provide a solution to prevent bad things from using centralization platform Reminder: do not keep your money in online accounts

Everyone has greed, greed is human nature. Encryption developers launch projects to make more money. Wait and see in recent years, many scam new projects have used various means to make a fortune from investors.

All we have to do is control our greed and really learn to choose projects and avoid scams.

What's more, if not for money, many crypto projects fail even after they sell a lot of their tokens or coins. They also don't want to do anything that will sustain and grow their project while and after they've made a lot of money.

Business is cutthroat. Money and power have always been the main problem. Likewise in the crypto world, we already know from various cases related to this, scams, fraud, fraudulent investments, pump and dump schemes, and so on.

The solution? No need to care about them, but we must care about ourselves, how to avoid becoming their victims, how to anticipate the risks that may happen, or how to utilize every chance in every condition, even in a bad condition.

Greed is human nature. It's in every man and  can either be displayed conceitedly or consciously. Those who control their level of greed do so with a conscious effort so as not to hurt others. It's the same way the need to do good spurs godly people that the urge to do evil moves the ungodly. Most people (virtually all) are In cryptos for the Benjamins. It doesn't matter if they openly admit it or not. That's what the mindset is about. Crypto Devs have come to realize that since the nature of cryptos is often online and could be created from thin air, there aren't likely to be office addresses or contacts anyone could trace them to in case they misfire. So, invariably they think they can mess up with investors funds and get away with that. That's what fuels their greed.

Whilst centralized platforms exist, there will always be fraud & theft. We all know the saying, not your keys, not your coins. It’s still so true! You need to take the risk away by withdrawing your coins from these scam factories.

As for a solution, there isn’t a guaranteed one other than don’t trust third parties & middlemen. You must take self custody. Proof of reserves only goes so far to mitigate scams.

Self custody, I will preach it every day until people listen.

Moving from the centralization to the fully trust code source must become a good thing but the problem if code can also be hijacked by human who created it too.
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There must be a decentralized based platform who will be operating pretty much the same like cex. There are some platforms like GMX who have been creating decentralized trade for futures and prepetual trade. this trend gonna be a big thing for sure.
I think that another feature based on decentralization already exist too in the market.
Trust in the code must become the most effective solution to avoid the greediness of people to trust fully audited code. this would be the best thing for sure.

If a business is entered into by people who are greedy and greedy for money, expect that business to not last long.

In other words, if a business is not run by wild people from those who manage it to the owner, that is the only thing that can be seen as the main reason why there are developers of that kind of personality in this industry.

In my opinion, the developer isn't the only greedy person in the crypto world. Many first-time cryptocurrency investors, in my opinion, are misled into thinking that they can get rich quick by buying and selling digital currency without doing any research whatsoever. As a result, many developers use this to their advantage and produce a self-perpetuating loop. Changing our attitudes and working to improve the health of the crypto community are necessary first steps in breaking this cycle. The populace as a whole needs to learn self-discipline and apply logic; the newcomer, too, needs training. Individuals need to begin investing on the basis of their own ideas, while also exercising due diligence and a critical eye. Don't give in to these exploitative builders' avarice.

You have mentioned the main reason, it's centralization and human greed. How to prevent that? just avoid anything that centralized e.g. centralized coin, centralized exchange etc. Since most altcoins and shitcoins are only looking for money, this mean you need to avoid all altcoins and just choose Bitcoin. If you choose Bitcoin and use decentralized exchange, you've avoid centralization and human greed!

Stay away against staking since it's centralized, avoid to lend your coins if you use centralized platform, and if you want to trade, don't leave your coins for long time.

We're human, and majority are very greedy just like Sam bankman, he's greediness is the reason why he's where he's now, we just have to be careful and keep looking for solutions

Limiting the number of new projects is like holding back the growth of the market, cryptocurrencies are a free, open market and they are in the development stage, don't hold it back.
Luna and FTX before bankruptcy, the development team behind are all talented and very good people. So even celebrities cannot guarantee the safety of the project, everything is at risk.
 

Strict punishment means you accept the government to control us, only the government has the authority to make regulations as well as the power to punish the scammers but regulation will also cost us freedom, privacy.

There is no effective solution, all of this comes from greed, as long as we control greed, we will avoid these scams.

nothing is truly secure in the blockchain system on a platform, they will definitely have their own weaknesses so that hackers can take loopholes to enter the system. In addition, you should also 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.

Here are some solutions:

1) Limit on the number of new projects : All crypto devs are not greedy. But the problem is that there are so many new projects and so many new developers behind these projects that some people will come out to be greedy from these always.

At such some step should be taken to limit the number of new projects. Only credible people or people with good history should be allowed for this . People can also ensure this by boycotting projects that do not have a solid team.

2) Strict punishment for defaulters : Even when coins have collapsed or exchanges were at fault, they were able to get away with all this without any punishments. This is not good as it removes the fear from bad people and they repeat the mistakes in future causing further loss to more people.

Examples should be set in these cases with very strict punishments so that no one can think of duping people of their hard earned money with scam projects in future.

Because they have tasted the sweetness, they want more.
It's not that crypto developers are greedy, it's human nature to be greedy and want too much. There is no absolute safety, and investing itself is all about honing your courage to take risks.

There isn't perfect solution on this matter. You can hold your coins in a private wallet, controlling your own keys, so you will be protected from those scammers. However, you don't earn interest and don't grow your portfolio this way, losing many investment opportunities for your crypto.

Or you can still use centralized services, hoping the operators of the platforms you are using aren't greedy bastards like the ones we are seeing crumbling at this moment. The point is, we don't have any assurance of the honesty and legitimacy of these guys, since we don't even know them closely. Moreover, even top crypto services have failed and scammed customers, so the sucess of a company isn't enough to say that is a safe and profitable place to deposit your funds.

Nothing is really safe here. We are all profit-seeking businessmen. All we can do is avoid losses in whatever way is best. but it is impossible if you really want to get a safe platform to invest let alone in this kind of high-risk investment.

Everything has risk especially on crypto even coins that aren't supposed to lose value like stable coins is now being depegged. I believe that it doesn't matter if it's a centralized or decentralized project, It's how the devs and the project team handle the project they have and how they run things inside their project. Sometimes devs are just getting pressured on is currently happening on the market and this what triggers them to abandon or lose hope in the project they are doing.

Proper regulation or a law specifically for decentralized approach. Guidelines that will scrutinize, penalize some of the outlaw or criminals that makes the investors suffer. Its hard to make a perfect solution for everything but with a right push I think crypto community will be better.

I'd never it was of their greediness but the reason why their project fail or become useless project that was because they fail to provide the needs of the people/users. Of course, investors won't spend their money upon seeing that feature as they wanted assurance rather than risking their money for nothing. If they fail that was the result of their doings and it can't be blamed on the market competition because, in the first place, they will know what exactly is needed in the crypto community but they never do it.
They should look for the need of the people and create a unique project, not copying others' platforms and making their own similar to others.

Are you greedy? Is the purpose of your investment in cryptocurrencies for money or what? Honestly, we all have greed, when participating in a project we want to profit from them and 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 a thousand percent profit and you invest in bitcoin then you will never fall into their trap. Market is a battlefield, where there is only 1 winner and 1 loser, there is never a win-win situation.

There's no safe platform and that is because there's no safe system. All of them will have vulnerabilities and that's why they have to update from time to time for their securities to be increased.

Time after time, there will be hackers that will see some outdated versions of their systems and that's why there's no safe. Even there are no hackers, there could be bugs that could be found and that's why the way forward is to think that everything you use is unsafe.

And that's why you have to put it on your mind that you need to be responsible for every action you do and whatever you do with your funds.

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?