Topic: Why people are calling projects as scam when they are in a bear market? - page 3. (Read 841 times)

That's because people are into crypto for the money instead of believing in its core technology. They don't take the time to perform a research on crypto projects, as they don't care about Blockchain at all. As long as a coin is able to make people lots of money, it'll be considered as "legitimate". Shame on them, since crypto is not about getting rich quick. It's about how useful it is for daily situations in the mainstream world. Some cryptocurrencies are good for decentralized finance (like Bitcoin and Ethereum), while others are good for censorship-resistant applications (like Ethereum, Cardano, and EOS). It's all about the technology instead of profits.

Judging a cryptocurrencies' success based on its price is a bad idea if you ask me. Unfortunately, most people use Fiat as a unit of account to determine crypto's value. But experienced crypto users know that crypto was created to be largely independent from the world's monetary system. As long as the ignorance continues, crypto will continue to see reduced adoption over time. Bear market or not, crypto will always be the same in my eyes. 1 Bitcoin will always be equal to 1 Bitcoin no matter what. Things would've been different if we used Bitcoin as a unit of account instead of Fiat. Expect to see many people "hyped" with useless projects in the crypto space once a bull market takes place once more. Just my opinion

Maybe because they have experienced something similar in their past.
People tend to say anything even without any proof just because this is how they feel, most of the time, they can easily judge projects because of their experience without knowing the real thing.
We can't blame them in this case, but the only thing we can do is to prove whether if they are wrong or not.

The bear market greatly affects the future of projects, even weak projects will die if the bear market lasts. From 2018 to the present, I have seen thousands of altcoins have died because they could not overcome this difficult period.

We have a similar experience in the past, I also got scammed and I think I am still scammed until now as slowly my coins are losing its value.
There are only few altcoins that are still surviving in my wallet right now but I don't want to blame the team or anyone as in the first place we already know the risk and personally I already made good profits bad then, I lose some and win some, at the end of the day, it's important to be profitable overall.

It is an emotional reaction because these investors are scammed multiple times. They make the wrong choices and these choices cost their time and dedication. I also don't jump to every new project even if their whitepaper is well designed.

maybe because most projects that experience a downtrend always bring their own horror, for example, titanium blockchain this project before when there was no drama about hacking and disputes between their teams the price of token was $2 and had a pretty good volume but after that the price of their token was immediately destroyed and it only touched 0.2$ and now this project has been closed. but as far as I know there is still a coinmarketcap and many other examples project, only now this fear problem is always wrong perception and many people think the problem is only on price, even though the real influence could be on the others for example the delayed roadmap or token utility project only has a small volume and a listing on an unfamiliar exchange causing the project to not develop.

Those are mostly comments from noobs who invest in projects with the aim of making tons of money in the shortest time. During those times especially in 2017 when ICOs were booming with profits news got out there about the quick way of making money by investing in crypto projects. This is the concept most noobs have in mind when investing so when things go the other way of a bearish season they start calling out scams.

Has anyone imagined that even bitcoin gets called scam so maybe it is normal that others would get called scam as well? There are countless amount of people who call bitcoin a scam and calls it "a way some people are making money from the gullible" like they think people buy bitcoin from one source without really knowing what bitcoin is.

So, when you think about it, it is normal that altcoins and specifically smaller timers do get some sort of scam calling because that is how the world works, when people can't make money from it either because they didn't invested or maybe invested but lost, they will call it a scam. Some of the projects could turn out to be scams, some of them could turn out to be bad teams and creators, some of them are innocent but all will be called scam since that's what people do.

Well, there are a ton of people who have talked with others about a project and everyone is usually quite hyped about it before it is released, or maybe even after it is released. As soon as they realize that they are not going to profit from it like they talked about, but they will also lose money because of it, they start to call it a scam because they feel like they were tricked.

Now, there is no scam in some of them, the team works on it, they are improving it, but sometimes community just decides to sell and when one sells and drops the price others follow and suddenly you have a huge drop in the price and everyone calls it a scam, why? Because some people sold.... In the end all we can do is just watch them do that, not that we can change peoples opinions that easily.

Would you mind sharing the name of those few projects? Cause, of course, people shit talk something new but the line between scam project and new project but young and potential is hugely different. Not good to use the name of those big and successful project at today to justify 'give it a chance' toward any project that has all red flags indicate its or could be a scam.

In my personal opinion it’s difficult to censor what people say, but the ICO owners can always appoint a representative who explains to those upset users about the current situation. Also @itsv investors these days don’t want to hear the standard replies, and that’s why the representative can explain them in more details and roast the claims that the ICO has turned into a scam project.

yes it's true but sometimes it's mismanagement and lack of planning on the team's end as well. I am not saying that company or project is to be blamed, I think this type of situation can be solved by effective and respectful communication. There are many projects out there who doesn't even bother to post regular updates on social media to keep the investors and community in the loop that's is where people get the idea maybe they left and it's is a scam.

As long as new projects delay distribution of tokens, they will be considered scam projects. That's the thinking of bounty hunters, they often use unsuitable words for new projects if those projects decide to delay the token distribution.

yep it can affect the reputation of the project if these people keep calling scam projects. They should know that this bear market can also affect the projects, it is difficult to reach their goal if the market is still down. 

High quality projects goes down when bears hit the market but there will still be a big difference between high quality project and low quality project, a low quality project will be affected more because they always have less demands

Actually the job of the bounty hunters is to keep researching first before convicting or assessing a project in any season, because the name of fraud can occur under any circumstances, so keep doing research in any condition.

You're right and some of the scam accusations could be based on personal sentiments as well.

That depends. Whenever people say that a project is a scam you should try to know the main reason why they have said that the project is a scam. Some of them are accurate, and they mention reasonable points that would make you believe that they are right.

But, there are people you would see and the reasons they give for calling a project scam would look so stupid. I have even seen people that calls Bitcoin a scam.Like really, why would anyone be calling bitcoin a scam? These people are the ones that invest in this project without knowing what Bitcoin is all about, those that think Bitcoin is a money making tech. Lol.

It just show that fool doesnt have well enough knowledge about bitcoin. But OPs talking about tokens or those new projects that has been accused of being scam in spite of many factors. I can say this is why altcoins will never got a good impression with many investors. Why?

Clearly the rate of altcoins having a success ending always end up 50% due to the fact of those projects have been compromised and got many cases of scam. I cant blame those who keeps complaining but they should have done their assignment when dealing with them first to avoid such state.

You're absolutely right cause i also enter here without knowledge but i tried much as possible to improve myself and also learned from my previous mistakes. However, i starting to think that those newbies that called project scam while their lack of understading and knowledge about the market was the main reason for their loss are not ready to learn which is the reason why they tagged project scam when the project is totally not.