Topic: Why I think all crypto is scam - page 14. (Read 2214 times)

I also believe that there are still legitimate projects even though at present most of the projects are fraudulent and there are other projects that cannot succeed in getting funding. I'm still waiting for a legitimate project to dominate investment again in the market

There is no need to use these features today, the projects think in terms of future needs in society. If there are alternative projects which compete with each other, it will be bullshit to use the same idea with few modifications on the project. The young crypto market will grow and the crypto ecosystem will take its place as a major player, those times will be the good timing for starting the adoption by the traditional financial system.

As time passed by many of us want a legit projects though it takes time to assure everything since scammers are so rampant here in crypto currency community. I believe that there are still legit projects here and even those staffs trying to convince those users that they are legit and work loyalty. I would say much better each of us must attentive and take too much time to research a project that can be supported by many here in crypto currency community.

I think the same with this thread, I usually often find crypto projects that hold ICOs by posting fake employee or team photos, I often see their linkedin profiles with little connections that don't even look active or take pictures from Google, it's not very cool, The road map used to be used for investors to see the honesty of the project running on time, but unfortunately many projects that skip it often even delay and make changes to the road map, so many SCAM crypto projects in the previous year, now no longer seen crypto projects with ICO

In the cryptocurrency market, there are more than 4000 types of crypto including bitcoin or altcoin. Among the many projects, it is not surprising if there are projects that are scam or die but not all coins die or scam. Examples are Bitcoin or ethreum, coins that have the largest market cap value and have also begun to be recognized as digital assets

You cannot judge a book by its cover, as like that even in the group of field also you need to to examine every project value plan to invest are being part of the project in any aspects.
Most of the investors and bounty participants does not do that and blame the good projects also a scam. Instead of just complaining if you try to explore as and learn more about the projects then there won't be any scam trap for you.

I seem to have involved myself in the "holy war" discussion in which I would rather not to take part in usually because there are a lot of consistent arguments from the both sides and actually there is no gold decision of this problem.
What about me, I consider that cryptocurrencies are quite useful for various tasks and there are plenty of arguments to use them. Furthermore, in fact cryptocurrencies are not different from fiat currencies concerning the most crucial parameters (but not by all, of course). I consider that everybody can figure out what cryptocurrencies are and eventually make a right decision for himself either to use cryptocurrencies or not.

I have seen this scam speculation of 99% every where but does it look to be true? looking at our exchanges and number of token listed though some are dying and some dead but 99% looks inflated. The price dump affected a large percentage of the market but the top 100-200 looks healthy over a time, lets not forget that the top projects on the CMC are there base on marketcap not how healthy the project is. Bitcoin maximalists are top beneficials of altcoins but they speak so bad of this altcoins every time.

Personally, my opinion on cryptocurrency. This is a new system of financial transfers. And cryptocurrency has a very great potential for the development of new technologies. And those who believe that cryptocurrency is a fraud, this means that these people have never encountered or used cryptocurrency.

A lot of projects just might be considered scams. I really don't think every project is a flat out scam. I think we're in a new sector within finance and only a few out of many are going to make it in this new industry. The market is flooded with ICO's, airdrops, forks. and giveaways. The majority of them just might be a scam as you say, but surely not all of them? I think that there has to be some legitimate projects out there, just not every legitimate project makes it out of their initial starting gate. I think that Satoshi must have foreseen some of these things (to a degree) and went ahead and made it open source code anyway after thinking it through.

Come to think of it if you can call crypto a scam then fiat is also a scam, i think for the past 9years now all that is happening around crypto is experimental, there will come a time that very few coins will survive and will be used globally so i won't consider that all coins are scam, we are still in an earlier stage for all coins

That's why I keep on repeating that there should be seminars of awarness to educate people about crypto currencies and scammers identification because cryptocurrencies are wholly new thing and many people have no idea about it. All they know is this that someone bought BTC at minimal price few years ago and now they have become billionaire, this is point where scammers enter and they fool innocent people by offering them opportunity of investment, take the money and run away.
I agree with you to very much extent but there are some other factors as well why people have started thinking cryptos are scam, One reason is the lust of making fast and easy money (Short-termism) that's why Scammers are landing into crypto world and they cash the perspective of people about cryptocurrencies as people consider cryptos as an opportunity of becoming millionaire over the night. Stability is everything, massive rise and fall discourage the new investors and cryptocurrencies can never be stable if they are considered as mechanism of making fast money. Speculators will never stop to manipulate the market and everyone will start believing that Crypto Economy is highly volatile. The only way how cryptocurrencies can be seen legit is this that the mass adoption and use in daily life like USD.

It sure looks like people want to invest into those, but generalization that every crypto is a scam comes from the mindset that you are not responsible for your money/investments. There are real products, some roadmaps are on the schedule, some projects deliver. What they are worth depends on the adoption and markets.

If people keep losing because they are greedy and don't want to study the projects, i am not sure who really is to blame. That kind of action just feeds more bad projects and scams and naturally worthless projects will flood the markets because there is markets from them it seems. I can see some projects in the top 100 on the coinmarketcap that are not needed imho, they just don't know it yet and markets full of of gullible idiots are keeping them up there for now.

Now i know that we should be doing more on blacklisting bad products, but how are we going to do that? There are no centralized regulated site with a consensus that decides  what's good and what's not. And why there should be?

IEO at least has certainty about large exchange like binance, but from the other side they are the same as ico, I think their movements will be better, but same as ICO. IEO is only good at the beginning of the launch, in the end they fall too.

Essentially I think all announcements work basically the same way,  get people to place bids/buy then dump the prices on on them and buy it back cheaply.  This cycle I have seen being repeated time and again. Even in the forex markets, this same sham is very present, using news and annnoucement as a means of manipulating prices to the disadvantage of the greedy and the uninformed. 

You nailed it. 
Unnecessary things are being told without any reason at all and no one looking at it. They know it.
Feed the unnecessary just so to look like they are updated.

Another think with the new one which IEO. They need an exchange where investors will buy the token.
What they do? They create the exchange. So where is the change? Still look like an ICO to me.

Victims of many scams tend to act like this, they generalized the whole market and tagged as a scam which is not true for me. Yes they are scam projects, that didn’t value your time at all but you have to look at the market which already consist of so many options, so many top coins and good tokens. If you think crypto is a scam then you are closing the door for the abundant opportunities, i hope bitcoin can change the thought of the OP.

most crypto projects are only seen copying things to one another, and with the addition of something unique, they believe in their ideas to be immediately thrown in the form of marketing. Like companies, they only think about administration and project modules, but forget the others that are more complex, ultimately their projects cannot be maximized because there are no correct facts in their road maps, many periodic delays that occur and confuse many interested users, scam are the right words in the short term.

Sad to say but yeah, all of crypto is scam. Now I know 99.9% is the truth but apart from Bitcoin and a few established decentralized altcoins, anything made after 2016 is probably a scam run by people who only want to make money. So it's safer to assume everything is a scam, and work your way out of it from there.

Forget playing the gambling game of which coin will go boom. Just buy Bitcoin and wait, meanwhile use it as you please.

Many altcoins are alternatives to bitcoin as payment, such as Ethereum which is the number 2 valuable altcoin after bitcoin. Ethereum is widely used as a means of payment for goods and services. There are many more valuable altcoins that are used as payment. Not all crypto scams, some crypto have a purpose and are used on various platforms with different development.