Why I think all crypto is scam - page 9.

Landak

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Quote from: Malamok101 on November 22, 2019, 11:47:36 PM

I think IEO and ICO, many of them are scam so its hard to say it will take longer of time. After bounty tokens distribution all of those coins automatically dump, and cant follow the main price of their coin.

it's true that many are scam and difficult to distinguish.
but depending on the product quality of the project, if the product cannot be expected for the long term, it is certain when listing on the market will be dumped because people are not sure about the project. the average successful projects are those that have good products, initially dumped because of the bounty hunter but after that they can survive and the price is rise up again, I have seen in several projects that I followed before. 10 of the projects that I joined only really survived is only 3, because the product was really good.

wajik-tempe

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Quote from: Malamok101 on November 22, 2019, 11:47:36 PM

I think IEO and ICO, many of them are scam so its hard to say it will take longer of time. After bounty tokens distribution all of those coins automatically dump, and cant follow the main price of their coin.

It's depends on what ICO/IEo that you joined, there are many ICO and IEO outthere that the price was pumped right after the IEO ends, so i think it depends on the quality and the hype of the project. If the project is good and the exchange who held it is credible (for IEO) i'm sure there are many people hunt it for demands and it will be profitable for the investors

Baby Dragon

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OWNR - Store all crypto in one app.

Quote from: safem on November 21, 2019, 04:54:36 PM

In my own opinion, I do not think that all crypto is a scam. If there is an existence of one original product, there is every possibility that the counterfeit will also exist. Though quite alright some crypto are scam but not at all. The crypto enthusiasts are the ones that need to be careful with the choice of crypto they want to participate in. There is a need to look before one leaps. There must be a thorough research into any crypto aspect that one wishes to partake of so as not to be a victim of scam ones. The necessary parameters in checking of authenticity of any crypto project before participating must be adopted.

Well said, it is pretty accurate that there are some of them that is proven as scam and you have to be aware that you can't easily get rid of some problems regarding on scams in cryptocurrency. What can you expect? people these days are taking advantage of crypto to get the benefits they wanted and if you don't want to get scammed then educate yourself. You should be cautious and attentive, do some research or ask people for their opinions before engaging into something so you won't end up feeling remorse about your actions and decisions, then after that blame everything in cryptocurrency because of your stupid actions. Sometimes we are the problem, cryptocurrency is speculative and that is the reason why you have to prepare yourself to overcome or avoid falling into some sort of scam.

Malamok101

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Proof-of-Stake Blockchain Network

I think IEO and ICO, many of them are scam so its hard to say it will take longer of time. After bounty tokens distribution all of those coins automatically dump, and cant follow the main price of their coin.

Xampeuu

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Quote from: truckythin on November 22, 2019, 11:10:27 AM

Quote from: Cnut237 on November 22, 2019, 06:47:00 AM

I think it is too harsh to say all of cyrpto is a scam.
Certainly there are plenty of scams out there, and equally there are plenty of legitimate projects that have no real use case and don't offer anything new.

But it is also the case that there is some good stuff out there. Bitcoin for a start. Similarly it would be difficult to argue that Ethereum is a scam - there is a lot of interesting functionality there which is not present in BTC - smart contracts have a real solid use-case. Same for XRP, definite use-case in international banking, which can't be filled by BTC.

So some are scams, a lot are pointless, and a smaller amount are genuinely great projects with talented developers, well-thought-out road-maps, rock-solid real-world use-cases.

(That may be my personal record for consecutive hyphens.)

I agree that not all crypto projects can be definitely called a scam. But there's a really huge amount of scam projects which makes very difficult to find good one. Only a thorough individual research and market analysis can help you to separate a gem from the garbage.

the problem now is, it seems difficult to sort out between an agus project and a garbage project, many of which are mis-analyzed. therefore not a few people are frustrated with this, and they stop investing in new projects. and choose to wait for the market to return to normal or invest in coins that are already trusted

wack slacker

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The crypto market can go further, but this is the market for startup projects to make money and disappear rather than serious project development. They do not know how to make money and they have invented ways to raise money, print their own money (token of project) and find ways to sell them to everyone. Speculators continually buy and find ways to increase the value of cryptos and sell them quickly to make a profit. On the marketcap almost all projects reduce their value from 2 to 100 times. Only BNB has been driven to increase prices in the last IEO trend.
The consequence of today's market is due to the fact that the fomo is so high that it causes a collapse in the price model. Some projects have reduced points but they always try to create their products such as Link, Nuls, Thorchain ... and many other projects. As long as their team is active and the programmer is working, the project cannot be called a scam.

truckythin

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Quote from: Cnut237 on November 22, 2019, 06:47:00 AM

I think it is too harsh to say all of cyrpto is a scam.
Certainly there are plenty of scams out there, and equally there are plenty of legitimate projects that have no real use case and don't offer anything new.

But it is also the case that there is some good stuff out there. Bitcoin for a start. Similarly it would be difficult to argue that Ethereum is a scam - there is a lot of interesting functionality there which is not present in BTC - smart contracts have a real solid use-case. Same for XRP, definite use-case in international banking, which can't be filled by BTC.

So some are scams, a lot are pointless, and a smaller amount are genuinely great projects with talented developers, well-thought-out road-maps, rock-solid real-world use-cases.

(That may be my personal record for consecutive hyphens.)

I agree that not all crypto projects can be definitely called a scam. But there's a really huge amount of scam projects which makes very difficult to find good one. Only a thorough individual research and market analysis can help you to separate a gem from the garbage.

whotheff

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Quote from: Rcoinmoon on November 22, 2019, 07:12:08 AM

I disagree with you on this one, you should've listed out the once you feeling negative about and not generalized it considering the fact that bitcoin is the mother of all crypto currency follow by ETH and some other great projects out there that are really doing great.

I said what I meant. Bitcoin is not much different. Yes, it is "The Mother of all crypto". But do you put it at number one "followed by ETH" based on it's price or based on it's development, capabilities, power usage, speed, features, etc?

It gets older and older and companies like Paypal now have feeles payments for friends and colleagues. By the time Blockchain develops enough, these companies will also develop new strategies to ridicule the piling up of thousands of power-hungry, noisy machines to make (not always) cheap transactions.

Rcoinmoon

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The Decentralized TCP/IP Internet Protocol

I disagree with you on this one, you should've listed out the once you feeling negative about and not generalized it considering the fact that bitcoin is the mother of all crypto currency follow by ETH and some other great projects out there that are really doing great.

Cnut237

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I think it is too harsh to say all of cyrpto is a scam.
Certainly there are plenty of scams out there, and equally there are plenty of legitimate projects that have no real use case and don't offer anything new.

But it is also the case that there is some good stuff out there. Bitcoin for a start. Similarly it would be difficult to argue that Ethereum is a scam - there is a lot of interesting functionality there which is not present in BTC - smart contracts have a real solid use-case. Same for XRP, definite use-case in international banking, which can't be filled by BTC.

So some are scams, a lot are pointless, and a smaller amount are genuinely great projects with talented developers, well-thought-out road-maps, rock-solid real-world use-cases.

(That may be my personal record for consecutive hyphens.)

Shepard777

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Quote from: StonerStanley on November 21, 2019, 05:34:56 PM

Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

Bullshit.
The people need time to know and adopt cryptocurrencies, marchands too.

It seems to me that people not only need time, but also good news, because when in 2017 the news sent Bitcoin to the moon, everyone believed in cryptocurrency and started investing in altcoins, but since the rate fell and hopes also disappeared, let's believe in the future of cryptocurrencies and recommend to all friends and acquaintances, because this can give a little push which is now very necessary. There are a lot of projects worthy of attention.

StonerStanley

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Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

Bullshit.
The people need time to know and adopt cryptocurrencies, marchands too.

Mila52

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Activity: 1022

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Quote from: Shepard777 on November 21, 2019, 04:36:27 PM

Quote from: InwardContour on November 21, 2019, 04:32:08 PM

Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

The major problems which make most crypto projects shady is because they lack real life use and adoption. It's also true that there are many scam projects with Roadmaps which will never be achieved, but at least very few projects are really trying to be on track. Truly it's not easy for a new tech like crypto to be adopted especially when the authorities are restricting it. Talking about fake recruitment announced on social media, many projects are guilty of this.

You are saying everything correctly, since the crypto industry is something new for people and for governments of countries, as well as for banks, and they do not understand how to correctly perceive it. Many due to the fact that they do not understand the whole technology and capabilities of the cryptocurrency, immediately put an end to the industry for themselves and if the government from any country does this, this immediately affects the course of the main cryptocurrency “BTC” and, after it, all other altcoins. Meanwhile, while there is no regulation, fraudsters take advantage of this and rob people of the money that they earned honestly.

The cryptocurrency wasn't accepted so quickly by the community if were not for the desire and the possibility of quick enrichment and profit.I think,the road maps, white paper, interest payments to the fund and etc that isn't scam, but a game according to the rules established for project's teams.Therefore, each project creates its own token,because it’s easier to collect investments and don’t have to share it with anyone. If use already known alts - it means dependence and centralization, promotes monopolization in the cryptocurrency market.

flagpara

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Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

After 2018 people lost trust from new project, but real projects still available in cryptocurrency. About roadmap or more details, in top coin VET and TRX. But before ICO feature release people were supporting cryptocurrency and now also do. All new aren't fake as scam project.

safem

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Activity: 454

Merit: 1

In my own opinion, I do not think that all crypto is a scam. If there is an existence of one original product, there is every possibility that the counterfeit will also exist. Though quite alright some crypto are scam but not at all. The crypto enthusiasts are the ones that need to be careful with the choice of crypto they want to participate in. There is a need to look before one leaps. There must be a thorough research into any crypto aspect that one wishes to partake of so as not to be a victim of scam ones. The necessary parameters in checking of authenticity of any crypto project before participating must be adopted.

Shepard777

full member

Activity: 532

Merit: 108

Quote from: InwardContour on November 21, 2019, 04:32:08 PM

Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

The major problems which make most crypto projects shady is because they lack real life use and adoption. It's also true that there are many scam projects with Roadmaps which will never be achieved, but at least very few projects are really trying to be on track. Truly it's not easy for a new tech like crypto to be adopted especially when the authorities are restricting it. Talking about fake recruitment announced on social media, many projects are guilty of this.

You are saying everything correctly, since the crypto industry is something new for people and for governments of countries, as well as for banks, and they do not understand how to correctly perceive it. Many due to the fact that they do not understand the whole technology and capabilities of the cryptocurrency, immediately put an end to the industry for themselves and if the government from any country does this, this immediately affects the course of the main cryptocurrency “BTC” and, after it, all other altcoins. Meanwhile, while there is no regulation, fraudsters take advantage of this and rob people of the money that they earned honestly.

InwardContour

sr. member

Activity: 644

Merit: 260

Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

The major problems which make most crypto projects shady is because they lack real life use and adoption. It's also true that there are many scam projects with Roadmaps which will never be achieved, but at least very few projects are really trying to be on track. Truly it's not easy for a new tech like crypto to be adopted especially when the authorities are restricting it. Talking about fake recruitment announced on social media, many projects are guilty of this.

whotheff

member

Activity: 762

Merit: 35

Quote from: Bananington on November 21, 2019, 02:35:00 PM

Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

I really like your boldness to speak up on this particular case, most projects are outright scam or baseless, no matter the said products or development they claim to achieve on the roadmap. Truth is, if regulations don't come, anyone can always come up with a project, make money from it, create hype around it by claiming to achieve milestones on roadmap and make much more money repeatedly. However, mainstream adoption will take a long time to come and till then, we will just be going through a cycle of "development and use cases on paper".

THank you. What I noticed among many people who commented is that they think in future tense. My statement is stated now, not in 3 months, 3 years or when Bull run happens. Not when Ethereum's, Bitcoin's etc, main adoption happens. That is why I like "development and use cases on papper" Cheesy

.
What I'm starting to notice is that serious companies with a legit bussiness are starting to get interested by blockchain technology, but with this speed it will take 10 more years. And for some reason I think none of them will adopt a currency which is already in circulation. All countries will just create their own, centralized digital money which will be also easy to manipulate as are the paper money. Thus crypto will be used only for shady deals, Darknet and some small shops since they can crypto can easily be outlawed.
Nevertheless, crypto will brend a very nice tech to the world by the name of Blockchain.

Bananington

sr. member

Activity: 1428

Merit: 344

Quote from: whotheff on November 18, 2019, 01:40:31 PM

First there is an announcement, then there is 3 year Roadmap,
extended each year with meaningless additions, fake recruiting of
employees, trade interrupts, software announcements, wallet updates, changes
quizes, games, givaways, airdrops, forks, ICOs etc, etc, etc.

I've seen several coins with great tech which is perfectly quick and secure, anonymous (or not) and safe.
They all have mobile wallets and wallets for every OS.
Despite this fact they cannot be adopted. Nobody wants to use them, there is no real need for them.
A team of good programmers could develop a blockchain which can replace banks and paper money
in a month. Another month for testing and another month for setting up nodes across the globe.
The main point behind all this is: who controlls these programmers?

Voilla. it is that easy.That is why I think all these announcements and Roadmaps are bullshit.

I really like your boldness to speak up on this particular case, most projects are outright scam or baseless, no matter the said products or development they claim to achieve on the roadmap. Truth is, if regulations don't come, anyone can always come up with a project, make money from it, create hype around it by claiming to achieve milestones on roadmap and make much more money repeatedly. However, mainstream adoption will take a long time to come and till then, we will just be going through a cycle of "development and use cases on paper".

arimamib

hero member

Activity: 1792

Merit: 574

Leading Crypto Sports Betting & Casino Platform

Quote from: Metall303 on November 21, 2019, 01:03:09 PM

Quote from: irixo10 on November 21, 2019, 04:57:45 AM

You just said it all, first they will present an attractive features which will draw people and then the game starts, one postponement after the other followers by unnecessary extension which is certainly of no use; this will continue until the investor and community members lose interest and ends up losing as well.
Nevertheless, I won't say all though, there are few which are genuine at least BTC and ETH are proof of that, the main case is that the number of fake projects keeps growing thereby making it look like this space isn't worth it.

Now the number of fake projects does not continue to grow. statistics just remains the same as it is. 90 percent of new projects are a scam and the remaining 10 have a chance to survive

but I still believe that there will be projects that truly benefit many people. but for now not, the investment trend in new projects is not like a few years ago we have to wait. Most projects this year have failed because they did not get enough funds

Topic: Why I think all crypto is scam - page 9. (Read 2214 times)