Bitcoin Forum

My opinion , Crypto coin market should clear those untrusted coin which is scam or those is unable to move on.
we need something to clear those coin. Am i right..

But now there is no legal institution in the encryption market that can regulate it! Now every place in the world has different views on the token market. I think that to clean up these deceptive tokens completely needs everyone to resist!

Then who will filter and clear all those shitcoins from the market if it is an open market and unregulated? Anyone can freely develop their own cryptocurrency and sell it to people. So for me, it is for people to know or discover if it is a scam or a coin that should be worth nothing. And if you know that a specific cryptocurrency is useless then the only solution to this is to ignore it, and in the first place why would you invest on a shitcoin that don't have enough demand from crypto investors. Some exchanges also don't just list cryptocurrencies there's a process of listing it, and that includes the demand, if there is not enough attention from investors then there's a very low chance that it will be listed. But at the end, it is still on you. If you made your research right then you will probably won't end up investing on a shitcoin.

Actually this cleaning up is followed on the CMC that is coin market cap website. If you observe then there are few days which are allowed for each coin to get listed on the CMC. If they found that the altcoin is not receiving any kind of volume, the market is dead or the volume itself is dead then CMC will take strict action and will remove them immediately from the panel. So they are already following the cleaning up procedure these days.

I have seen CMC removing more than 100 coins in single day. I think last month only when CMC reached 1600 count of coins then they removed almost 100 of them as they were scams, dead coins. Now the count is back to 1600 which tells us that so many coins are coming every other day.

Yup this should be done. However there are still people who wants to play fire with scam coin. Also there are coins who don't have any volume in the market. I think CMC should just clean their market list right now.

Yes Absolutely right. In current time, so many traders are entering into market with little knowledge. And scammers are taking advantage of this. So I also want the the scam coins should be removed from the market to save its future and the the future of traders as well.

If those coins are useless and scam, they'll die later on.

Check those scam and dead coins. Dead Coins - A complete List of ICO Exit scams & Extinct coins (https://deadcoins.com/)

in fact the reason for this is obvious. the increase in the currency volume of the digital currency stock market has begun to attract more people. so new projects and new coins entered the market.

We don't have to do anything with those coins then it will be fade away if they don't have any value so all we have to do is invest only on the potential coins and avoid shitcoins which was created only for the purpose of bump and dump.

Yes, a lot of altcoin is actually in a state of death at present, and these tokens have neither liquidity nor any value.
When they lose the value of hype, they are worthless.

I really agree that we only need to support those potential coins in the market. The tighter the competition in the market brings confusion to which coin to choose from. And besides newly rise coins makes the competition tighter. Making those investors might pick the wrong or scam coins.

Yeah we all want it. But how? SCAM coin will be grow and multiply and because of that, people will hard to find Legit ICO and maybe ICO will extinct because people will not trust ICO anymore.

Investors that are wise enough knows how to choose the right coin. But for some newbies that are new to the industry they end up confused in which coin to choose. To much coin in the market in fact makes the competition tighter. By this it scam and legit coins are hard to identify.

Blockchain technology is fairly new, so even though one might look at coin market cap and see the 1600+ crypto currencies and think that's way too much, considering these are all cryptos from around the world its not too much and I personally feel there will be thousand more in coming years.

And what you said regarding scam is so true, I am so sure that there are many non-worthy useless coins and scammy coins in CMC and I guess no one needs to do anything about it as they with time will die off. The only solution to prevent such being listed on CMC would be regulations coming to control the ICO's that are coming up. If that's not the case we could see a lot more clutter in coming years!

I agree that those cryptos which seem to be scams need to be remove. I wish there is some form of admin or forum group that would focus on finding these scam projects. This will protect every member whose giving efforts and time to earn some money.

it would be nice if it could be technically implemented.A lot of coins that just do not need.technical staff must find a way out of this situation.

This site gradually introduces different limits. For example, the requirements for the volume of trades are increasing to be added to the site. But unfortunately there are some interesting projects that do not have large volumes, and they can not get to the coinmarket..

Lets dont be bothered with other scam or shit coins out there. Just invest your money on a good coins, simple.
If you don't believe the coin will give you earnings, dont buy it. but if you do your own research and find that coin is potential,
just buy the coin and hold it for long time.

Agree those coin that has no volume should remove in coinmarketcap. So even newbie to the crypto will never be victim of pump and dump coin.

There is no point of getting rid of those "useless coins". And it is not that easy to stop them.. So instead let's concentrate on those legit ones with solid projects.

Just keep your calm, mate. That will happen, definitely, although in a natural way. The crypto market nowadays is a world different from the one years ago. The market of crypto is very fast growing. We have been seeing deaths of a lot of coins everywhere. This is very natural. There is also a sort of natural selection in the world of crypto. Those scam coins are not expected to survive long. We just have to keep ourselves away from them.

Yes Absolutely right. In current time, so many traders are entering into market with little knowledge. And scammers are taking advantage of this. So I also want the the scam coins should be removed from the market to save its future and the the future of traders as well.

We must establish a fraud prevention community around the world, fraudulent coins, or fraudulent or fraudulent ICO projects that will be listed in the group to inform the public and keep away from them. I do not think they can get through everyone's eyes. My opinion, but implementation will probably be very difficult

I think leave them alone because if a scam coin is wiped out there will be a lot of losses as well because there are still many people playing with it. let the time answer because when they are not desirable then they will die by itself.

While such opportunities will be available, scammers will act. Since the crypto world is unregulated, we must regulate it ourselves. All we can do is to be financially educated and contribute to the education of others.

we can't stop people to create new projects even though those projects will being an scam projects or will be successfully projects and everybody want to remove scam coin but that's not so simple because currently plenty of projects available but sometimes we're so confused which projects will be scam at the end and this is one of the risk if we involved in crypto that we will face up scam projects everywhere

I think you are right, many coins that do not have more value then in my opinion in the market better removed. because the potential of coins makes the market unpopular. let alone a lot of coins that are scam at the moment and have no selling points.

The market is indeed saturated with coins. There are many projects that are scam and those that do not develop after the end of their ICO. If there was a way, I personally support you that it would be better to get them out of the market.  :-\

That's more like it! Our much cherished decentralization and anonymity has its own faults and there is really not much to do to scam coins from being churned out, but if we stop being gullible and impulsive,we would be able to spot and trash such coins without any cost to us. In this digital age, virtually all the information we seek are clicks away only most of us seem to have phobia for reading.

The market can only clear itself naturally, as it is not regulated by anyone. I think the bad times are making positive impact on this matter, because people sell everything for the coins they truly believe in. Thus, the shitty projects simply die, because nobody wants them, while top project pave their way to success.
By supporting some unnatural ways of 'getting them out of the market' we are sacrificing the freedom of the market. It is like the question of whether it's okay for the government to spy on their citizens if that prevents crimes. I believe these methods work, but eventually appear ineffective, because this is not the way it should be done. We have to wait till the inner control system is generated.

It’s not possible until some regulation happens everyday new coins as well as new exchanges are coming so it’s very much difficult control new coins even  already existing lots of coins worth nothing even some became complete still these coins are trading .

I agree with you. and another one to note is the filter for the ico ico that is a scam.
because their ulah crypto world so annoyed.

That is the reason why governments have to come into cryptocurrencies. Governments is the only body that can come into cryptocurrencies market and regulate it.  I think we are at the time when everything can go and plan are underway for cryptocurrencies regulations.  Many scammers has come into the market and there are succeeding by using the decentralized exchanger to dump investors and coins holders.

Yes Absolutely right. In current time, so many traders are entering into market with little knowledge. And scammers are taking advantage of this. So I also want the the scam coins should be removed from the market to save its future and the the future of traders as well.

Yes there are many crypto coins coming now a days.

Regulations are required to RUN ICO to avoid scam.

This is very simple in which we could start in screening the ICO which is the main source of the Altcoins. Every country should regulate the ICO to determine which is the best and scam ICO before it will go to the crypto market. Every ICO project will represent a country in which where it was founded, then the representative country with their ICO regulation policy can now check if the projects is legit or not and to know if it has potential when it arrive in the market because there are lot of new ICO that successfully entered the market but after that it will easily to become crap.

You don't need to worry because time will tell. And all exchanges are also looking at those shit coins. If there are no movement from devs or low trading volumes, they are going to de-list it anyways so they will die a natural death.


Those useless coins will have their 5 minutes of fame. Once they are pump up by those unscrupulous group. But once they are done, the coins are finished and those investors can't get out. Its sad but its there fault to fall for this shitcoins that's why we better do our homework before investing our hard earn money.

No you don't. In my opinion. You have your own mind, so take a time and do your own research - you wil spotify all untrusted coins and then get possibility to buy some trusted coins. Or you wait till someone else make a decision what you should buy and what you should not?

The scam coins will naturally self implode when people realise they are fraud or ponzi schemes and drop down to minimal value and fall to the bottom of the listings anyway. I think the number of coins sis going to be gworing anyway judging by how many new coins are launching by ICO each week.

most coin are scam i pray good coin should reach the moon but the bad coins should be remove from the market... i wish we have all real and good coin only in the market

Scam coins can't be stopped and they aren't regulated.
This is why many are scared of cryptocurrencies because of the scams out there that can be in good image before they turn wild.

Exactly. I suppose market will become more clear after few years. So, we should be attentive when choosing ICO and make investments.

No, that will require that we have some central authority to tell us which icos are fine and which are not and that goes against the principles of cryptocurrencies which are supposed to be decentralized, the only way we see less of those coins is if people stop being as dumb as to invest in projects that are clearly nothing but a scam and that is going to take a while in my opinion.

If the move could have a positive impact on the crypto market there must be a solution, it would be nice if it could be implemented technically. Lots of unnecessary coins. Technical staff must find a way out of this situation.

We can't remove coin that was created before even if they will turn into scam because its decentralize and we don't have central switch to pull it off.
What we can do is request coinmarketcap like listing services to pull out all scam coins even if they are traded on just few exchanges without any active development.

We don't need to do something because it's very simple: No demand, no supply. Seems people use that shitcoins for some reqsons, some of them make pumps and do money that way, there are a lot ways why people use them or developers try their best to keep coin for some time.
Coinmarketcup can show us what's good and what's bad, we can't do anything to clear that list.

Anyone can freely develop their own cryptocurrency and sell it to people. I think that to clean up these deceptive tokens completely needs everyone to resist!

I am sure that over time, most of the cryptocurrency will not withstand changes and competition. These cryptocurrencies will simply cease to exist. I also think that in the future there will be more sophisticated cryptocurrencies that will set a new standard. In five years there will be no more than two hundred cryptocurrencies.

This is the most frustrating part of the decentralized system is that theres no legal council to refer to in terms of encountering a scam. Also there are no one to clear up those altcoins who is proven that they are a scam. If we will going to make cryptocurrency centralized a bit for these purposes then i think it would be better.

There are currently many cryptos you can choose to invest. And to avoid the potential cryptos scam, invest in cryptos in the top 20 of the market according to Coinmarketcap. This time when the exchange rate of the market is not stable, avoid investing in the ICO because it will certainly lose money without investment experience.

In short, we know that a currency does not disappear just stands still or abandoned, when conducting a survey we will see that there are more than 500 missing coins created a few years ago. To conclude, I believe that many fraudulent ICOs will disappear together with coins without any utility, leaving the market cleaner.

I think in the end many projects will die by itself because it is not useful. But for potential and useful coins will continue to grow and continue to get demand.

these kind of coins who don`t deliver anything but just dreams will be extinct during the time, now they have their places because the market is very new and as soon as it emerges they won`t have any position.

Crypto market improvements are certainly necessary to avoid many types of altcoin scam and have no future potential, but as we know the crypto market has nothing to control, everything is driven by demand and supply. better before deciding to invest in altcoin things we need to pay attention to as much as possible to see more details about future prospects about the tokens we will invest, in order for tokens that we choose to serve as potential future investment assets and can enter various the exchange market does not even lose its value in a short time

That's how many tokens and coins have been added in recent months, and I believe that most of them will not exist for a long time since the competition here is very cruel and they will simply disappear over time.

it seems very difficult to remove shitcoin, because they are always growing and born every day. perhaps the role of government or a regulator is a real solution to solve this problem. but we are now we can try to always provide education and give each other warning if there is something that can harm many people.

That is true, so many coins in the market sometimes make us so confused. Which one should I invest or trade? Now, many ICOs are emerged. We cannot stop it. It leads the nominal of the coins everyday is decreasing. The condition lead us to be smarter to analyze the market to choose the best coins with the unique concept.

Yes, you are right. I agree if there is a regulation that becomes a legal policy for altcoin and ico which is useless. there are many altcoins that do not have a good price after entering the exchange, this makes many investors frustrated by being too tempted by promises and big bonuses. but the fact that most ico are just looking for a way to earn fast money.

Altcoins should be regulated with stricter rules and regulations to protect users from scam

With the passage of time, we are experiencing a significant growth in the entire crypto market and that there are so many investors which are showing a keen interest towards the crypto currencies and that they have found this idea very much interesting. If things keep on happening in the very similar manner, then there are likely chances that the crypto market will take lead over all other markets.

Of course, it's a good idea, so as not to get too scattered about the coin that's useless. In addition, for members to feel comfortable and avoid the various losses caused by some Coin a scam. And I think, the market is also trying to remove the useless coin list.

Yes, you are right. some scam coins are already supposed to be delisted from the crypto market. it is very necessary for investors not to get stuck on a coin that is a scam. let's support some market markets to do this for the sake of our goodness.

Yes it is too much coin in this crypto, yes you are right but the scam coin can be delete from this crypto. Actually it gives us a lot of chance to more earn money if there are a lot of coin but too much scam makes people affraid to invest their money.

this is actually a matter of supply and demand. the number of participants and the number of coins increase as the currency volume of the crypto currency stock exchange increases

I'm agreed to your opinion. I also think that crypto coin market should clear untrusted and scam coin. If they do that it helps us too much to buy coin and other site. If we have clear idea about coin then we can get profit by buying coin.

Until there is adequate legislation, many fraudulent projects will appear that spoil the reputation of the crypto currency.

There is no law about cryptocurrency today because it was widely use by different people today in the market and every one can invest on a coin they are interested, it will be the investors fault if they did not check the market statistics before investing a huge amount on the coin they are interested.

There is no way out, as long as this is a free market where everyone can create whatever they want we are going to have this huge amount of coins, I see this as a positive, we have a lot of competition between projects and only the best will survive, this means that many people will lose their money that is true but this happens in all the markets not only in the market of cryptocurrencies.

There is nothing to regulate it and of course the free crypto in order to enter in the market whether it is a scam or not. Indeed it will only make the market look full crypto will only and only a few of interest. but surely a little crypto and seldom considered also has the potential to equal opportunities and it could also be great. It's just that the increase would not be large.

That is the risk of being decentralized since everyone else can pretty much deploy their own coin, but hey, there are also few hundred thousands stock out there or even million, some of them are simply money grab and scam without a promising future so it's basically the same.
It's just the investor that need to be a "little" smarter so that they don't get their money invested to crappy coin and choose better one, just like natural law of selection, if people are dumb enough then congratulation they are eliminated.

True, they need to purge all the novelty and s#itcoins so people know whats worth investing in!!

I have also seen exchanges delisting dead coins, but we can tell, they would never get to the end of it, because of the free market and the decentralized nature of coins and their deployment. Moreover, since money can be made through these coins/tokens, trust people to keep coming up with more, notwithstanding they're worth nothing!

unreliable coins themselves will cease to exist. there is no sense that the specifically brush your.

Yes Absolutely right. In current time, so many traders are entering into market with little knowledge. And scammers are taking advantage of this. So I also want the the scam coins should be removed from the market to save its future and the the future of traders as well.

The bad/weak/scam altcoins will fail and disappear on their own in the free market. The best cryptocurrencies should rise to the top and the bad ones will not be successful. I don’t think there is a need to stop innovation by banning new coins. It will happen organically. Just let the free market play out and for your personal investments, do good research to pick the ones to buy.

There are too many coins on the market, but we do not really need any authority to let them say which is trustworthy and which is not. It should be done by a natural process of the free market where only the best projects will survive. In a few years, most of the coins will be totally forgotten by the community due to many different reasons. Hopefully, some of them will be still here making steps forward in the world full of innovations.  :)

We cant know that they're scam or not so scam coins can't be stop.
But I want the market clear the scam also.

The market has different functions and different opportunities to offer different services to the globe as it relates tot the blockchain technology. The markets are ok to decongest other markets and also give people some area of specialty in the exchange business. There may also exists darome degree of competitiveness

Yes, there will be a good idea to clear those coins, where project dont get success, or died in a process, crypto will be much easier then!

Even if they cleared all of those coin, then im sure there will be still a lot of more scam coin coming, so for right now if it keep listed in marketcap, atleast maybe there's still a chance of new coin will be compared to the old one, so no one trying to reborn again the coin that was already cleared.

Yes, I agree that there are many crypto coins emerging in the market and I think that it will be the people to judge and decide if such ICO is legitimate or perhaps a scam coin. I think people should understand that there are scam coins doing an ICO in the crypto market and the best thing to avoid those scam ICO's is that we need to research thoroughly before investing in ICO at least you had screened properly. For me, It is good to have many new ICO coins especially for the bounty hunters since it will be also beneficial for them to earn profit.

Although I agree with you but I think it will be difficult to do it. All I know that the crypto world is a free market. People are free to do anything. If  have the capital and team work everyone is free to create new coins. And if lucky, the coins that they create will enter the crypto market and compete with other coins. If not then the coin will die and scattered. Therefore many coins are not believed and scam that interfere with the activity in investing.

This would be awesome if it can be done. Unfortunately, once it's on the blockchain, it will always be on the blockchain. The only solution is to filter them out and remove them from your list.

The market will come to know whether they are a scam or not after sometime only so by then many investors might have already invested on those coins and they will come to know it is a scam then no way these investors can recover back their losses. But as of now, there is no mechanism to detect the particular coin scam or not before they start collecting funds from the public so we should invest money only if you know the team behind that coin has got some reputation or not.

Almost everyday any new coin listed in the market, but some of them does not have great future and failed and make many investor loss money. This is because to create coin or token is easy and without regulation , and should each coin has aim to solve problem and unique product. Now investor should be make research  and share idea with other expert before make invest in any coin.

You have a point but it is kind of difficult to know which coin to remove since some are still in development or working on a viable product.Ants shares became the NEO of today.Some shitty coins today can become next big thing.

The thing is. We Cannot regulate this upcoming Coins or the existing ones.
Crypto was supposed to be independent from banks or government.
And this is abused by a lot of Fake or Scam ICO. For which, they could do anything.
And i think the best way is be careful on a personal level. its better to check those new coins. twice or thrice.

i think for us we just need to ignore the coins that are scams, because its an open market anyone can put their coins in the list so for us we just need to research about the coins we invest to avoid some regret and nevermind the shitcoins in the coin market that would be the best way for all of us.

the effect a lot of the number of crypto in the market and also the number of tokens in the market is, the new token process that will be on the list in the exchanger is very late.

Looks like we will not be able to do it, unless there is a third party to manage it. Not an easy thing, but I think it can be done, at least starting from a place that legalizes crypto.

It is ruthless, but that is capitalism for you, look at trading for example, many people try to earn money in trading but it is speculated more than 80% of the people lose money in trading so this means that only the top 20% traders make any money and only the most exceptional traders make any significant amount of money, it is brutal but only those fit to be traders can prosper under those circumstances.