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Alternate cryptocurrencies => Altcoin Discussion => Topic started by: CryptopreneurBrainboss on October 04, 2019, 04:18:03 AM



Title: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptopreneurBrainboss on October 04, 2019, 04:18:03 AM
The altcoin market is a very interesting market when it's operating at its best. When it comes to investing in them just to increase your chances of accumulating more bitcoin or short term investment, you have to understand there's a season for every type of coin. During the 2017 altcoins bull market I observe some interesting trends concerning how the market (altcoins) react which might be of use or serve as a guideline for future market and help prevent you from falling victims to fraudsters and scam projects.

We can't denied the fact the market is still been influence by emotions which you could profit from, that's if you understand how it works. Each type of altcoins had it's season, there was a time only lending tokens were mostly benefiting from the market via price appreciation. Sane with staking/masternode projects as they also had their share of the market. If you were paying close attention to the market you would had observe more and more type of projects based on trending Ideas starter popping up during their season meaning, scammers starts disguising themselves as startups to launch new worthless project just to scam innocent Investors of their funds.

Same observation happened when projects paying dividends started trending, same with projects crowdfunding through Selfdrop instead of ICO, privacy coins also had similar fate etc. Although the current situation of the market isn't encouraging, you still have to be very watchful as this trend could repeat itself at any given time. Understand that scammers are always active looking for new way to scam investors of their funds. When there's a new trend, always be watchful as the chances of getting scammed through that method becomes high. Invest wisely.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on October 04, 2019, 06:14:27 AM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D

But to be a bit more lenient and so called "alt liquidity" you could try some LTC and ETH. Its more a personal choice as to what they prefer to trade giving emphasis on the volume being traded and feasibility. Those who are trading professionally dont actually care about the technology but the money involved and their profits.

They would be willing to invest into several assets leveraging the risk. But those who are going to read this thread are not one of them. That I am sure of. 8)


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: DDante on October 04, 2019, 06:21:59 AM
Thanks for the warning and i hope people on here will learn and listen, at this point in time its better to go for oldy coins they are lit safer and reliable than new projects, nowadays out 100 projects coming into crypto space only 2 projects are legit with good intent in the mind, not everyone are good in doing research so old altcoins is best for now


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Greatchu on October 04, 2019, 06:30:41 AM
Veil project and sero project are the best privacy coins i know of this year but still sero teams are so dubious that they only pay bounty hunters one quarter of bounty allocation and some got nothing including myself, i don't know what is wrong with new projects this days, they all seem to be dubious in disguise


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: VDraci on October 04, 2019, 07:00:32 AM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D

But to be a bit more lenient and so called "alt liquidity" you could try some LTC and ETH. Its more a personal choice as to what they prefer to trade giving emphasis on the volume being traded and feasibility. Those who are trading professionally dont actually care about the technology but the money involved and their profits.

They would be willing to invest into several assets leveraging the risk. But those who are going to read this thread are not one of them. That I am sure of. 8)
Altcoin season will return for sure its only a matter of time and yes bitcoin is the best option for short term traders or longterm holders but altcoin is the most preferred on my table, they have better ROI than bitcoin, i am talking from experience and if you think history won't repeat itself then you haven't been following crypto news


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Godstrength on October 04, 2019, 07:25:11 AM
The crypto space being ran by emotions does happen sometime and we're still on a stage where some people who is well-known can make an impact with the pricing. The community indeed has already changed because of all these mistakes that happened from the previous years and this is why systems are being improved over time, ICO to STO to IEO to protect us investors, usual airdrops to a new style of airdrop (https://www.newsbtc.com/press-releases/standard-tokenization-protocol-tokenprotocol-io/) which guarantees you a reward and have higher gains, and a lot more. I wonder what the next trend will be? It's definitely an exciting time to be a part of crypto and it's such a pleasure to see all these unfold before our eyes.

Quote
Understand that scammers are always active looking for new way to scam investors of their funds. When there's a new trend, always be watchful as the chances of getting scammed through that method becomes high. Invest wisely.

Telegram alone is a nest for all these scammers, they always find so many ways to trick people. I can't even count how many strategies have I seen from them already.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptopreneurBrainboss on October 04, 2019, 08:24:51 AM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D

You can't denied the fact when altcoins are at their best, bitcoin's ROI during that same period can't be compared to that of altcoins. I preach investing in bitcoin (i.e hodling) but trading altcoins to get more bitcoin. My jounery in the space is all about accumulating more bitcoin for the future as the limitation of supply would be a major advantage in the future. It's better you ignore the small profit for future bigger gains although that's specifically recommended for just bitcoin so you can call me a bitcoin lover but I'm definitely not a maximalist.

On the other hand, the altcoin market is filled with opportunity to experience what it felt like investing in bitcoin during it's early days. You can't be in the industry and not experiment with altcoins, if you don't than you're missing something bitcoin currently can't give you.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: MFahad on October 04, 2019, 09:17:47 AM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D

But to be a bit more lenient and so called "alt liquidity" you could try some LTC and ETH. Its more a personal choice as to what they prefer to trade giving emphasis on the volume being traded and feasibility. Those who are trading professionally dont actually care about the technology but the money involved and their profits.

They would be willing to invest into several assets leveraging the risk. But those who are going to read this thread are not one of them. That I am sure of. 8)
Altcoin season will return for sure its only a matter of time and yes bitcoin is the best option for short term traders or longterm holders but altcoin is the most preferred on my table, they have better ROI than bitcoin, i am talking from experience and if you think history won't repeat itself then you haven't been following crypto news

You need to lookout for the following things which will be different in the next altcoin run.

1- Not all the altcoins will pump. Only the ones whom teams are working will get good returns.

2- Previously people used to buy low satoshi coins as they think the ROI is high on them. 1 sat to 2 sat is 100% profit. but this time very few low satoshi coins will pump.

3-Also Keep an eye on circulating supply when making a selection of altcoins.

4-Do not love the altcoins, get the profit and get out.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on October 04, 2019, 09:21:05 AM
You can't denied the fact when altcoins are at their best, bitcoin's ROI during that same period can't be compared to that of altcoins.
Like I said in my previous post. People popularize this concept and think it to be the "safeguard" of altcoins over bitcoin because they are only interested in gains, thus pumping the market and developing a fake demand/supply ratio than what is available in the market.

Quote
On the other hand, the altcoin market is filled with opportunity to experience what it felt like investing in bitcoin during it's early days.
Exactly the wrong notion that some new entrants in the market feel. I also felt the same a few years back when NXTcoin first appeared. Now look where is stand - https://coinmarketcap.com/currencies/nxt/

Definitely a short opportunity for people to buy sell quickly by fake pumping the media and then selling off their holdings to the next "enthusiast". Masternodes became popular after ICOs went down. Next came the STOs <<fake bullshit and then IEO which is again the same. Probably tomorrow they will come up with a new name and still the next generation of investors will fall for their coin.



Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Bttzed03 on October 04, 2019, 09:42:18 AM
Deflationary tokens made a short run here too. A few months ago, you can see them come out of nowhere but I wonder what happened to them now  ???

Hybrid protocol (POW/POS) became a thing also.

What could be next? I'm not sure if privacy coins would be resurrected again because of these tightening regulations.


4-Do not love the altcoins, get the profit and get out.
This is probably why they are called shitcoins.  ;D


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Bonwin on October 04, 2019, 09:43:54 AM
Right thinking @OP. It is always good as an investor, to  first study the market, study the trend, most especially the new one and compared with the previous before making your decision.
The new trends we see now are innovative, although with an inkling of the old which means that scammers are seriously at work.
Sometimes, the same set of scammers that were previously at work, come back with new ideas to perpetrate their w*cked scheme.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptoBry on October 04, 2019, 09:59:28 AM


I am sure that scammers are also taking notice of this trend so they can launch a project according to the season you just discuss here. Yes, there can indeed be season as to the type of project that will boom in the marketplace and because people have this tendency to follow what can be trending with proper marketing (and yeah even manipulations) a project can be able to soar and get as much money in its crowdfunding phase. I can still remember the lending token craze back in 2017 as I was one of those who lost Bitcoin at that time as I paid my necessary dues to the Experience University...now I am surely wiser now and will never open up my wallet for any project without first thinking 10 times or even 20 times. Back then almost any ICO was viewed as a potentially profitable enterprise and people assumed that there will never be an end to the boom happening all over the cryptocurrency market. And then reality struck...

Right now, the landscape has been changed a lot and those who got burned either left the market totally or they continue but with a different mindset borne out of unforgettable and sometimes regrettable experiences. Investors are demanding more information and they wanted to be supplied with real facts only hence the coming in of IEO projects in reputable exchanges. In 2019, it can be a little difficult to discern the trends to know the type of projects that can possibly be a big hit as there are many factors to look into but we are hoping that above all investors are getting more mature, more demanding and more discriminating. Again, hopefully.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Baby Dragon on October 04, 2019, 10:25:42 AM
Thanks for the warning and i hope people on here will learn and listen, at this point in time its better to go for oldy coins they are lit safer and reliable than new projects, nowadays out 100 projects coming into crypto space only 2 projects are legit with good intent in the mind, not everyone are good in doing research so old altcoins is best for now
Indeed, we need to be cautious and attentive for every project because we can easily see if its intention isn't good unless we have already look for some information, reviews and feedback from other people. We need to attentive all the time since scammers are always there looking for some ways to deceive us, having some techniques and enough understanding might help you because its literally speculative.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptopreneurBrainboss on October 05, 2019, 06:12:13 AM
Right thinking @OP. It is always good as an investor, to  first study the market, study the trend, most especially the new one and compared with the previous before making your decision.
The new trends we see now are innovative, although with an inkling of the old which means that scammers are seriously at work.
Sometimes, the same set of scammers that were previously at work, come back with new ideas to perpetrate their w*cked scheme.

Great observation as exchange token also had their season which brought about every newly launched exchange, be it decentralized or centralized had their native token. it even resulted to already existing exchanges to developed their native tokens e.g bitfinex. Also due to the professional style of their operation by this scammers I have no doubt they're same individuals moving from one trend to other since scammers are always searching for new tricks to leverage on.

As for the new trend, I'm thinking something related to AI based tokens or something with in-depth assurance of profitability but simply based in lies, something security wise. The disturbing truth here's, there'll still be greedy or innocent Investors that'll still fall victims.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Genemind on October 05, 2019, 07:00:03 AM
Thanks for the warning, Op. I agree that scammers are always active and just roaming around so we must be observant because they're making their own tactics and strategies each day. It's also a good thing that most users are now aware of it. The best thing to do to get rid of them is not to trust too much and we should handle all our funds well. Scammers are wise but we must be wiser.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: rachmat5893 on October 05, 2019, 07:46:58 AM
Without a doubt, crypto was created for the free market, but don't you think that if almost every second project that airs deceives people, it is time to think about how we can create a safer place for investors and new people interested in crypto? this is a strong statement but many people don't care. they would rather blame anyone and continue to lose money than learn from their mistakes.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: nicster551 on October 05, 2019, 08:01:33 AM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D

But to be a bit more lenient and so called "alt liquidity" you could try some LTC and ETH. Its more a personal choice as to what they prefer to trade giving emphasis on the volume being traded and feasibility. Those who are trading professionally dont actually care about the technology but the money involved and their profits.

They would be willing to invest into several assets leveraging the risk. But those who are going to read this thread are not one of them. That I am sure of. 8)
Nice idea, I always focus on the bitcoin market. Almost all of my portfolios are in bitcoin and I have some fiat to spare if the bitcoin price will continue to dump. I always focus on bitcoin dominance as if it will continue to reduce then I will switch some of my fiats into top altcoins like ETH, LTC, BNB and EOS.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Herbert2020 on October 05, 2019, 08:18:48 AM
i have seen this types of "trends" in the market too. every now and then some arbitrary subject becomes hyped up and a ton of altcoins that are in some ways involved in that subject get pumped up a lot. for example a while ago anon coins suddenly became super hyped and we suddenly saw the anon coins get pumped and at the same time we saw a lot of new anon coins were created! same with smart contract platforms, tokens, ...
the only characteristics that all these "trends" share is that they all get hyped up fast and consequently get pumped up a lot and then that same hype vanishes just as fast and they end up dumping. for example in the example above, nowadays nobody cares about anon coins, smart contract platforms, tokens,... anymore because their hype has ended.
we are now waiting for the next hype to come along.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Kvalentine on October 05, 2019, 09:14:13 AM
The altcoin market is a very interesting market when it's operating at its best. When it comes to investing in them just to increase your chances of accumulating more bitcoin or short term investment, you have to understand there's a season for every type of coin. During the 2017 altcoins bull market I observe some interesting trends concerning how the market (altcoins) react which might be of use or serve as a guideline for future market and help prevent you from falling victims to fraudsters and scam projects.

We can't denied the fact the market is still been influence by emotions which you could profit from, that's if you understand how it works. Each type of altcoins had it's season, there was a time only lending tokens were mostly benefiting from the market via price appreciation. Sane with staking/masternode projects as they also had their share of the market. If you were paying close attention to the market you would had observe more and more type of projects based on trending Ideas starter popping up during their season meaning, scammers starts disguising themselves as startups to launch new worthless project just to scam innocent Investors of their funds.

Same observation happened when projects paying dividends started trending, same with projects crowdfunding through Selfdrop instead of ICO, privacy coins also had similar fate etc. Although the current situation of the market isn't encouraging, you still have to be very watchful as this trend could repeat itself at any given time. Understand that scammers are always active looking for new way to scam investors of their funds. When there's a new trend, always be watchful as the chances of getting scammed through that method becomes high. Invest wisely.
Good point you got there, if a new project is built today with a fresh idea and it become successful scammers will try hard to build something almost identical to the successful  project because investors will want to invest in such project thinking its will be successful again


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: slaman29 on October 05, 2019, 11:13:19 AM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D


Though at the same time I guess we need all these speculators to push Bitcoin price down and to have something other than Ethereum to keep proving that despite all the knocks on Bitcoin, alts still cannot challenge it for top spot. That's always for me good for the price in the long term, and even better for the community. We needed all those splits to get rid off the people who want other things for crypto. Thinking about BSV for example;)


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Alexandr Kirichenko on October 05, 2019, 07:48:42 PM


You can't denied the fact when altcoins are at their best, bitcoin's ROI during that same period can't be compared to that of altcoins. I preach investing in bitcoin (i.e hodling) but trading altcoins to get more bitcoin. My jounery in the space is all about accumulating more bitcoin for the future as the limitation of supply would be a major advantage in the future. It's better you ignore the small profit for future bigger gains although that's specifically recommended for just bitcoin so you can call me a bitcoin lover but I'm definitely not a maximalist.

On the other hand, the altcoin market is filled with opportunity to experience what it felt like investing in bitcoin during it's early days. You can't be in the industry and not experiment with altcoins, if you don't than you're missing something bitcoin currently can't give you.


Quite true. But behind this lies the reason that many fall into fraudulent schemes.  The thirst for profit and the opportunity to get a large number of x's from the project captures people.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: upyem2k on October 06, 2019, 08:11:12 AM
No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Moiyah on October 06, 2019, 10:34:20 AM
That’s the way it is, the more products, services or new trends flourishing, the more SCAMMERS is attracted to it. As we see how crypto indemand today, it also magnet the scammers to deceive and trick people who is greedy and lack or few knowledge about altcoins. Being precautious in what you are joining, will not put you into danger. It is not horrible to try various other altcoins but make sure for its standing. Beside btc why not to try other altcoins which is also has a good reputation like, eth, ltc, eos and more. Don’t put your coins to some offers that are too good to be true be vigilant, be wise.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: yazher on October 06, 2019, 11:05:04 AM
The only problem with these new altcoins, is we cannot have a second chance if the price will suddenly dumped. especially when the price will go down deep. the only safe crypto investment is buying bitcoin. base on its history, when its price will go down deep, there will always a time it will get its price again even higher than the time you bought it. also the second option is ETH,BNB,LTC and XRP because most of the time they will also rise when the bitcoin's price has rised.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: ecnalubma on October 06, 2019, 12:01:49 PM
Scammers don’t care about season they only care about how much money they can make out of their victims and they don’t choose victims big or small. Even during this bearish period they can still squeeze money, protect your hard earned precious crypto and don’t exchange it to shillcoins and shitcoins.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptopreneurBrainboss on October 06, 2019, 01:43:29 PM
Scammers don’t care about season they only care about how much money they can make out of their victims and they don’t choose victims big or small. Even during this bearish period they can still squeeze money, protect your hard earned precious crypto and don’t exchange it to shillcoins and shitcoins.

They do as if you're observate they become more active in the bullish season than the bear season. More like they go into hibernation during that period to regroup and come out with new technique when investors are most vulnerable due to greed and zeal to profit from any profitable vehicle available.

The only problem with these new altcoins, is we cannot have a second chance if the price will suddenly dumped.

That's why I always advice they shouldn't be seen as investment options instead as trading opportunities to experiment on. We'll always have altcoins popping up every now and now, some might even have similar aims or claim to be an improved version of the previous so no altcoin can stay dominant forever like bitcoin. Don't consider then as long term investment that's always my philosophy.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: kravas86 on October 06, 2019, 07:24:10 PM
There is no season altcoins. There are times when people with big money want to make even more money. And so they artificially play with the market. They specifically increase the volume of traded coins that people would see positive changes in the market. But it ends very quickly and only whales and scammers who create fake ICO win.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on October 07, 2019, 05:56:17 AM
Scammers don’t care about season they only care about how much money they can make out of their victims and they don’t choose victims big or small. Even during this bearish period they can still squeeze money, protect your hard earned precious crypto and don’t exchange it to shillcoins and shitcoins.
So dont you think we should promote the use of bitcoin more and more and shun the use of shitcoins? There is really no reason to think of altcoins as a saving grace during bitcoin network congestion or short term yields. Use some of the more established altcoins is you are in dire need of transacting or pay a higher fee on bitcoin.

Then about short term gains - those are false hopes and promises given by shills dumping their own coins. Its not new to find bagholders crying in real life while acting like lion on social media to shill their worthless coins. They are not scammer though. The proper term is manipulator and shill as a more colloquial term.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: slaman29 on October 07, 2019, 08:51:39 AM
No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.

And much of the same can be said the other way round. Bear or bull, or sideways, crypto or fiat, there is always going to be someone born every minute who will grow up to be an easy con. People sometimes have no sense to avoid scams. You can put a scam out there and just leave a btc address and people will always get scammed!


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptopreneurBrainboss on October 09, 2019, 08:02:08 PM
So dont you think we should promote the use of bitcoin more and more and shun the use of shitcoins? There is really no reason to think of altcoins as a saving grace during bitcoin network congestion or short term yields.

Well, I won't say I'm against the promotion of bitcoin more but, infact bitcoin doesn't need our promotions. The currency is a force on it's own and it's success does the promotion for it. Altcoins on other hand currently is what's keeping the industry lively and interesting. They're the pair been traded on the market complimenting the trading of bitcoin. I would say lets give altcoins a chance that's, we should promote it more.

Not the shitprojects or scam coins advertised all over the space but well developed projects putting in work to bring out the best of the industry. Bitcoin just overshadowing every other coin in the market which isn't healthy for the industry generally although it benefits bitcoin specifically. Litecoin couldn't even benefit from it's halving advantage just because bitcoin is taking all the attention for itself.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: magneto on October 09, 2019, 10:54:19 PM
My personal philosphy is to always treat ICOs as scams in the beginning.

Essentially, the mindset here is to assume guilty until proven innocent. It's the only way that you can safely invest in an ICO these days, because there are simply so many out there that have completely no substance to them and are just solely there to reap investor funds and then exit with little to no development later.

Always look at their fundamentals no matter what absurd claims they have in regards to the potential returns of the coin, because that's what drives long term growth.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Godstrength on October 10, 2019, 06:10:12 AM
When ICO's was on it's hayday, scammers got a lot going on, especially in Telegram where they try to imitate someone from the coreteam and ask them to do the fundraising via pm. Depending on what's going on, it's really attracting scammers everywhere.

There are cases where the founding team are also being seen as scammers from bounty hunters since they will stop the campaign when they fail to raise funds, which in result, turn into stopping the bounty itself and make all our hardwork into waste. There are platforms that lets you develop for crypto (https://medium.com/harmony-one/introducing-harmony-dao-maker-2bdc88b13f9b) with projects that are already established and are just looking for the input of the community, whether it be writing content, tweeting events, etc.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: jets567 on October 10, 2019, 06:24:18 AM

There are cases where the founding team are also being seen as scammers from bounty hunters since they will stop the campaign when they fail to raise funds, which in result, turn into stopping the bounty itself and make all our hardwork into waste.


We cannot blame the team if they won't be able to distribute rewards since it's on the rules that if they did not reach the softcap there will be no rewards. With  regards with what OP said, I don't really believe on altcoin season because anytime will be good time for any new projects as long as they are unique with a solid plans and have a better marketing strategies to ignore the current bear market.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Pearls Before Swine on October 10, 2019, 06:30:04 AM
Yup maximalist at heart. :D

But to be a bit more lenient and so called "alt liquidity" you could try some LTC and ETH.
I'm a bitcoin maximalist, too and I agree that most altcoins should likely be avoided not because of the potential of getting scammed but because they might end up worthless in a few years.  Litecoin and Eth won't, I'm sure of that, but I'd even go so far as to say that Litecoin has seen all its good days go by.  Ethereum is still a good investment, especially at it's current value.

Depending on what's going on, it's really attracting scammers everywhere.
These ico's have, and always will, be a playground for scammers of every type.  Take a look at the scam accusation section and you'll constantly see projects with plagiarized whitepapers and fake team members and every other type of scam.  I honestly can't understand why people still fall for that kind of thing...but they do.  Until they learn to avoid those scams, they're just going to keep happening.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Wintersoldier on October 10, 2019, 06:19:41 PM
Honestly speaking, if you are into some speculative trading then go for the bitcoin market and leave the altcoin market as it is. At the best I would go for 100% Bitcoin. Yup maximalist at heart. :D


Though at the same time I guess we need all these speculators to push Bitcoin price down and to have something other than Ethereum to keep proving that despite all the knocks on Bitcoin, alts still cannot challenge it for top spot. That's always for me good for the price in the long term, and even better for the community. We needed all those splits to get rid off the people who want other things for crypto. Thinking about BSV for example;)

BSV and such other don't want the best for cryptocurrency, but even if you push bitcoin down for a challenger to face and meet the volume and price of bitcoin, it still has trademark of being the best cryptocurrency in the world. Though, the best idea is to avoid creating boundaries between bitcoin and altcoins as all have their potential market development that will help us in the future.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on October 11, 2019, 07:41:40 AM
I completely agree with you, you need to be careful when choosing a project for investment, but there is always a risk. And unfortunately no one will give you a guarantee that the purchased coins will nevertheless grow in value.
It is not about guarantee but its about a use case. If some project is being developed and the tokens being issued for that projects backing giving the stakeholders some sort of benefits, then the minimum viable product (MVP) must have some sort of a use case and can develop and sustain a market of its own. Look at what amazon and facebook have done. It is more or less a matter of luck here if you are going on into ventures but with bitcoin you can be rest assured for its rise in price for the long term.

Trading in alts which cant be developed or developing something that has already been developed you will only be wasting your time and money unless your goal is to just pump and dump the coins.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Mianae on October 11, 2019, 09:14:25 AM
Yea to every coin out there, there's a season for each. When ever a coin starts to moon, scammers begin to device means of making holders make fake transfers to their scam wallet everyone should be watchful especially those in telegram groups of such coins
Scammers have a way of sending direct message and convincing an unwatchful fellow to make wrong transactions.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: AndRE177 on October 12, 2019, 12:01:45 PM
No matter what the season may be, the scammers are always available to manipulate the newbies to steal from them. And as regards altcoins investment, no matter what the season is, investing in Bitcoin and ethereum is the best and most secured investment anyone can go into.

You are right, scammers are active in any state of the crypto market. Whether the market is rising or falling scammers continue their dark time and create new projects in order to catch new victims in their clutches and get their money. Of course, when the market grows, there are more such projects, because the demand for new projects increases.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: r_delossa on October 14, 2019, 11:07:30 AM
Sure, the bigger is the amount of hype, the bigger is the amount of scammers, but the problem is that even right now, when market is not in its best conditions, every second project turns to be scam after the token sale.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: key4co.in on October 16, 2019, 09:19:47 PM
This is absolutely true, scammers take advantage of the new trend for altcoins and scam gullible crypto enthusiasts. The recent rise and fall of deflationary tokens was a good example. I saw many deflationary tokens launch with no project vision, fake team members doing airdrop and later list unofficially on forkdelta and then DDEX to scam those who will buy on exchange. We just need to be careful, the new trend is for staking and "quantum resistance coins" . Proper due diligence before investing is the watch word.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: coinfinger on October 17, 2019, 04:56:46 PM
This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

We need more factors that will still come in like that of 2017 to elevate some of these coins, and moreover, most of these projects came with different purposes that are not tied to each other so they should naturally be independent of each other's factors and if they have real use case, they should all have their own separate season, which is why I tend to study a project very well before investing in it, look at harmony, despite all the bear market, they still had their own increase, so I agree with you that all altcoins have different season.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: CryptopreneurBrainboss on October 18, 2019, 10:48:20 AM
This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

Quite sure they're referring to bitcoin in regards to the cycle of market. We tend to generalized most things when it comes to cryptocurrency and that's where the misunderstanding is coming from. The only market that have proven times without doubt that it's current market state isn't a stable state, is bitcoin as we have experience numerous bull and bear market in the past ten years in it has existed.

Altcoins on the other hand if I'm not mistakenly the only bull run it has recorded was the 2016/2017 bull market so until it repeat itself probably 2020/2021 we can't conclude yet although just like others I'm optimistic another altcoin bull run will definitely happen.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Kvalentine on October 18, 2019, 10:51:41 AM
This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on October 23, 2019, 09:12:00 AM
I would use the phrase failed project because that's what is mostly happening.
How are so sure of what is happening behind the scenes? If there is no proof of the project being developed then its good to assume that the project had failed.

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Some of this project aren't scam but they can't compete in this current market condition so they lose interest from Investors which drives the price of tokens down since current Investors are wanting to sell thereby pushing the price down. The bear market isn't a favourable condition for projects to progress although it's the best time to identify worthy projects to invest in.
"Its a bear market" excuse has been used by every other project as a blanket method to evade questions and raised suspicions. Whether the project was aware that bitcoin or altcoins would be a investment subject to immense volatility at unpredictable times of the year, makes me question of their credibility in the first place.

Which is also why they seek out private investors without telling ICO investors about it and use that to pay off their devs. Then the devs are another level of scammers who sell off their share and leave the project. In all, zero development of the project actually takes place. ;D


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: dimonstration on October 28, 2019, 05:02:51 AM
This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

We need more factors that will still come in like that of 2017 to elevate some of these coins, and moreover, most of these projects came with different purposes that are not tied to each other so they should naturally be independent of each other's factors and if they have real use case, they should all have their own separate season, which is why I tend to study a project very well before investing in it, look at harmony, despite all the bear market, they still had their own increase, so I agree with you that all altcoins have different season.
They have different season since they have different timelines that will influence their advantage in the market, the market and the scammers will be based their performance depending on the team plans and strategy to be alive even if the season is in good or bad shape. However some projects tend to sleep and wait since they don't want to risk, but if team trust their product enough to be develop based in their timeline they can definitely survive it they do more than what expected in their product as investors keep chasing now on legit and useful products, just be aware that scammers also active looking for ways to scam someone so better be oriented on the project specific goals even from the start.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: toast on October 28, 2019, 06:45:48 AM
This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects
today many investors feel frightened by it all and many investors are hoping that people who take advantage by cheating get warnings or sanctions for their actions and all of that happens because there are no legal or regulatory institutions that can make them do not commit fraud by making project that ended in fraud


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: xiboothrezi on October 28, 2019, 05:50:05 PM
I totally agree with OP's thinking. All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season. We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on October 31, 2019, 06:09:36 AM
All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season.
Season for scams. ::) IEOs is same as ICO in part of the scamming method but under a different name. They collect money, do nothing leave the projects to die out and essentially scam every investor before selling off their project to another shady group who now forces a KYC on the investors. Your money, their game.

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We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.
Altcoins have only brought some people to get rich, those are the developers and advisors of these scam, the so called "serial ICO entrepreneur"  blah blah, which literally means a failed enthusiast, now broke and trying to scam people. ;D

Adoption is another topic and fraudsters is another. But with increased number of projects there will be increases number of frauds. Better to focus your money on older and established projects.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: jessyj48 on October 31, 2019, 06:22:09 AM
The first strategy of a scammers is how to attract investors by any means necessary, this is why i don't put interest in high rated projects from websites like icobench or icodrops, they are paid to get such high ranks on the websites, apart from been a full time bounty hunter if i have any penny to invest in coins i will go for old projects


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Ararbermas on October 31, 2019, 06:24:54 AM

There are cases where the founding team are also being seen as scammers from bounty hunters since they will stop the campaign when they fail to raise funds, which in result, turn into stopping the bounty itself and make all our hardwork into waste.


We cannot blame the team if they won't be able to distribute rewards since it's on the rules that if they did not reach the softcap there will be no rewards. With  regards with what OP said, I don't really believe on altcoin season because anytime will be good time for any new projects as long as they are unique with a solid plans and have a better marketing strategies to ignore the current bear market.
i agree because there's a lot of reason why they cant distribute the payment easily and the number one reason is it is because of the situation of the market  , and for me in my opinion we should understand it. Wherein should not judge the project easily because of their performance .  What i mean we should look through their efforts first as well before making a complain. It's not easy to be honest especially if the growth rate of the project suddenly change because of the situation of the market. Which it takes time to recover.  But patience is a virtue. Dont be hasty rather than receiving a token that has no value wherein unacceptable.  Lol


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: lousie9 on October 31, 2019, 09:12:20 AM
You have good observations, from some of the points you said are exactly the same as my observations so far about the altcoin market and investment projects. I have observed that in many cases new projects always produce junk tokens and many altcoins lose their value. maybe this can be said to be a market cycle, I mean the market situation that is always changing sometimes above and sometimes vice versa. so, as an important wise investor always researches in detail in everything we want to decide and not because I don't believe in new trends (IEO) but stay alert because something good can turn bad at any time.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: NathanJB on October 31, 2019, 09:21:15 AM
I would use the phrase failed project because that's what is mostly happening.
How are so sure of what is happening behind the scenes? If there is no proof of the project being developed then its good to assume that the project had failed.

That's why i said the appropriate word to use is failed project and not scam projects, I have read stories of projects returning the fund of ICO Investors back to them or buy back the tokens when their plans towards the project couldn't be achieved. The market is a very competitive one and when you don't have the funds or marketing team to compete, hardly before your project will get notice irrespective of how genuine it's which might result to such project failing that doesn't mean it was a scam.

Many of those projects that failed are not returning their investors' funds. Many are in fact not admitting that they failed. Instead of facing their failures and get back to step 1, to the very reason why their project was made in the first place, to the very problem they wish to address, they instead pursue their project even if they lack the funds, the supporters, the bright ideas, just to keep the money with them. They know that they will fail in the coming weeks or months after their launching but they just won't return the money because they want them. It is only a very tiny percentage of all failed projects that returns investors' money.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Yaunfitda on October 31, 2019, 02:05:14 PM
I totally agree with OP's thinking. All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season. We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.

But just the same, maybe some business model shift, but know it seems that IEO is also a haven for scammers. IEO has no doubt have been exposed specially in this bear market, and we should all be thankful for that.

But IEO, I have my doubts, so I'm sure this is just another 'camouflage' today. And could turn out to be just like it's predecessors, projects are built to just scam anyone, so I guess the OP is right that we really need to be very careful.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: sirminesalot on October 31, 2019, 02:34:25 PM
This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects
Scamer and investment with crypto currency is already a risk in investing, by benefiting from other people's losses because investing with crypto currency is very vulnerable with such a lack of power or legal institutions that regulate it all so they are free and easy to do everything something that is detrimental to investors


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: darewaller on November 02, 2019, 07:44:36 PM
The first strategy of a scammers is how to attract investors by any means necessary, this is why i don't put interest in high rated projects from websites like icobench or icodrops, they are paid to get such high ranks on the websites, apart from been a full time bounty hunter if i have any penny to invest in coins i will go for old projects
I used to believe in this site until I realized too that they are all bunch of deceivers who are just doing those rating things to deceive people, majority of the projects that I have participated in through them has eventually turned shit projects which I regret ever relying on them. Right now, I am the rated system myself, because before I participate I any project, I make sure that I do every form of verification on them before I even think off getting my penny into their system.

So many fake projects that we have out there now and majority of them do not have any real working product other than being used as speculative coin for profit purpose, it is only bitcoin that I believe to be a real working product and other top 20 coins that is rated in coinmarketcap.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: fumblingperch on November 02, 2019, 10:00:01 PM
That is why we will not be able to completely get rid of scammers. After all, where there is money, there will always be those who want to steal them from other people.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on November 03, 2019, 01:37:47 PM
That's why i said the appropriate word to use is failed project and not scam projects,
The appropriate term is scam, not failed. They were scam from the beginning and they will be in future.

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I have read stories of projects returning the fund of ICO Investors back to them or buy back the tokens when their plans towards the project couldn't be achieved.
Sometimes the project owners might have better goals in mind and/or got into legal trouble from advisors and other team members who start an internal affairs investigation with local authorities in an attempt overthrow the company. Then they try to do this. Its a lot of dirty politics inside. ;)

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The market is a very competitive one and when you don't have the funds or marketing team to compete, hardly before your project will get notice irrespective of how genuine it's which might result to such project failing that doesn't mean it was a scam.
Thats just an excuse to say that the project has failed making it easier from their side. Who cares for those who put in their money in the project? But with bitcoin one would not see these problems because it already having its own use cases and acceptance.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: setialovers on November 20, 2019, 04:51:32 AM
That is why we will not be able to completely get rid of scammers. After all, where there is money, there will always be those who want to steal them from other people.

Agree, scammers will be there where there is a large turnover of money. The cryptocurrency market has become bigger compared to a few years ago and this has invited many scammers both through hacking or ICO. We must be aware of the various modes that they apply because sometimes they are very detailed when going to commit fraud as happened in the ICO market


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: stephanirain on December 27, 2019, 11:47:06 PM
The altcoin market is a very interesting market when it's operating at its best. When it comes to investing in them just to increase your chances of accumulating more bitcoin or short term investment, you have to understand there's a season for every type of coin. During the 2017 altcoins bull market I observe some interesting trends concerning how the market (altcoins) react which might be of use or serve as a guideline for future market and help prevent you from falling victims to fraudsters and scam projects.

We can't denied the fact the market is still been influence by emotions which you could profit from, that's if you understand how it works. Each type of altcoins had it's season, there was a time only lending tokens were mostly benefiting from the market via price appreciation. Sane with staking/masternode projects as they also had their share of the market. If you were paying close attention to the market you would had observe more and more type of projects based on trending Ideas starter popping up during their season meaning, scammers starts disguising themselves as startups to launch new worthless project just to scam innocent Investors of their funds.

Same observation happened when projects paying dividends started trending, same with projects crowdfunding through Selfdrop instead of ICO, privacy coins also had similar fate etc. Although the current situation of the market isn't encouraging, you still have to be very watchful as this trend could repeat itself at any given time. Understand that scammers are always active looking for new way to scam investors of their funds. When there's a new trend, always be watchful as the chances of getting scammed through that method becomes high. Invest wisely.

The market right now is indeed not encouraging for many investors. But with the low prices of cryptocurrencies right now, it might be the best days to buy and start investing. And in the midst of changing trends as the year changes, the one who can adapt the best will surely survive. We cannot always outdown the market but we could reduce the loses by carefully selecting which we should only invest to. I am not fan of multiple investments anymore for I experienced mistakes of my own. Other strategies can also work too as long as you understand and accept the risks it bare.
Furthermore, scammers are smart right now, and will appear to be legit as much as possible. So, never jump again to something you do not fully see or understand. Measure the fall and calculate the risk so you can hope for the best.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Aabcde on December 28, 2019, 12:16:29 AM
Yes they always innovate with the latest circumstances at this time.
Personally, I have stopped investing whether it is, ico, ieo, private sale, and so on because I think that for now it does not produce any profit.
For me, projects that do not provide benefits in the short or long term are also scammers. Because I think that the devs don't have a concern for their investors and all they think about is personal gain.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: TheUltraElite on December 31, 2019, 07:20:52 AM
The market right now is indeed not encouraging for many investors.
Means you are looking at the wrong coins. Bitcoin price is perfect to buy in at this point. It dumped to 7.2k from 7.4k USD making it good for buying to stock up or if you are into put options then it was predictable.

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But with the low prices of cryptocurrencies right now, it might be the best days to buy and start investing.
You just contradicted your previous statement.
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And in the midst of changing trends as the year changes, the one who can adapt the best will surely survive. We cannot always outdown the market but we could reduce the loses by carefully selecting which we should only invest to. I am not fan of multiple investments anymore for I experienced mistakes of my own. Other strategies can also work too as long as you understand and accept the risks it bare.
Right now the best strategy is the  buying of bitcoin for long term. Although some analysts are saying that the drop target is 6k, you still have chances to buy at low prices. This is the thing that FOMO people end up losing and then have to cry when the price rises.

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Furthermore, scammers are smart right now, and will appear to be legit as much as possible.
Scammers have always been smart. That is why they were able to scam a less knowledgeable victim.

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So, never jump again to something you do not fully see or understand. Measure the fall and calculate the risk so you can hope for the best.
True. One should not venture into something without doing research first.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: Rodeo02 on December 31, 2019, 07:31:43 AM
The main reason why each of those coins season attract scammers is because Investors become very gullible and are ready to invest in anything they see that seems similar to other previous profitable project. When the very first lending coins was a success others started believing in lending project so scammers saw an opportunity to scam Investors of their fund by simply started on their website their project is based on lending. The issue with this seasonal coins is that they're usually just short term success and become a big failure so it'll be advisable we abstain from investing in them totally.
well of course investors also want to earn profit from thier investment and they see it as a fastest way to earn . But sadly what they expect is not  happen its only work in 2017 when all of the ICO boom and more people earn huge profit for investing in it. Since people earn they used that popularity and make thier own and thats what many scam project started.


Title: Re: Different type of altcoins have their season which attract scammers be watchful
Post by: naikturun on December 31, 2019, 09:56:45 AM
well of course investors also want to earn profit from thier investment and they see it as a fastest way to earn . But sadly what they expect is not  happen its only work in 2017 when all of the ICO boom and more people earn huge profit for investing in it. Since people earn they used that popularity and make thier own and thats what many scam project started.

because now the market is sluggish, I think ico / ieo is not much in demand anymore, it can be seen from the reduced projects that appear every day and also the average project does not reach softcap.
we hope that with reduced investor interest, we can reduce scam projects.