Bitcoin Forum

The thread is self moderated, though I would not be removing posts except if they are really terrible, it has nothing to do with whether you agree or disagree with me.

The other day, I read a post which the poster said:(i am not explicitly quoting the OP though)that if the altcoin market manages one good project out of the many that it produces daily, then it's a success for the altcoin market(i am not against his opinion, but I disagree)
Searching for good altcoin projects is now similar to looking for a needle in a haystack, you either get tired or exhausted and quit looking, or you find it after a terribly long, long time, this is synonymous to what altcoin investors will have to go through/and are going through, and it can only stop when the good projects are the only ones investors are attracted to.

But since the market is decentralized, and you cannot really prevent anyone from creating shitcoins, what can then be done to promote only the good projects, imo investors should avoid new projects for a while, they either are coming out with the same plan as the previous ones and will only fail just as their "predecessors" did, and focus more on the projects that are already in the market, picking out the few that are good and investing/promoting them. If new scam projects are not getting any substantial investors, I believe the good ones that are in circulation in the market already would improve and more good projects could sprout up from them.

Other valuable suggestions are welcomed, let's have a quality discussion.

As far as this forum is concerned, Imo I would have suggested that the admin can also ensure that scam project are not allowed to advertise here but I think I have also seen some bounty threads being tagged as warning for participants (or maybe they should just remove such thread entirely).

On the other hand, is difficult to ascertain scam project at the beginning.
I advise that participants could choose to follow certain legit managers and managers that are producing scam projects will be alone to themselves and pack up with time  ;D

You won't really change anything for this one either. Even if we choose not to promote bad projects in the market other people will do it for them in exchange for getting paid or a stake from their ICO that is why promotions for ICO projects are very effective since every member who has a social media account, can wear a signature, or a Youtube and Medium account can participate in their bounty campaigns just to promote their project. Honestly if the project isn't a scam but just a very bad project they can still find success on earning a lot of investors just because of their campaign, talking bad against a project without any solid reason to stay away from it will just make the project more interesting for others so really you can't change the course for this one as well. Maybe the most realistic approach here is for the investors itself to be smart on where they would invest and avoid these types of projects so they know that shitty projects have no place in the market.

Unfortunately, this is the reality of the market. Too many scams. But not everything is fraud. Unfortunately, the subcoins that are traded in the Exchange can be out of control. You need to solve it. The solution to this is only when the team supports their projects. They need to keep track of the price.

First of all, it is possible to encounter any kind of projects in the decentralized market, but excluding new projects is not the solution, it is just like cutting them off. This year, the market hosted a successful project like ATOM, would it be better if we excluded it? I think no. Actually, I do not know what the solution could be. Also, investing only in Binance IEOs would not be a right idea as some newbies' proposals. Maybe we should find a way to inform the majority and keep them awake.

Yes indeed, I've been doing some bounties lately & many of them just run away lol.

The ICO business i doomed to failure unfortunately, even the good ones are affected by the sum of the SCAMs made buy the ICO last couple months / years. I know 2 projects were good but failed to even gather the soft Cap.

Sad business for the cryptosphere, now it's time for the IEO that are launched in famous exchanges, flip them o decent RI, rinse & repeat.

What do you mean the team must have a Buy Back program? If the team keeps track of prices I think they must have the program, it can make the project stronger in terms of trust in the community

I partially agree because it’s hard to find good projects buried in a sea of scams or bad projects, but this is a true free market. It’s actually more of a free market that a government regulated market that is called a free market.  We just have to accept the bad with the good.

It's very difficult mate. Truly the admins can help regulate and sift projects but then in the early stages how can you know if it's real or fake. There should be a mechanism or model developed to mitigate scam projects, I guess we are still looking for the right equation to balance the model. Sooner or later it will happen anyway

So many fake projects out there, I totally do agree but despite the fake ones there are still good and amazing projects out there which have good team and good market volume all needed is research.

There is a lot of failed projects and the most difficult part is how do you get to know the good ones. Some shit projects tends to start very well , list IEO in a good exchange and end up making investors to loose their funds. The rate of dead and failed products is alarming.

It's very bad. They all appear professional, reputable and promising in the beginning but to your biggest surprise, they are just low life thieves packaged in tuxedo to Rob a bank. Some few hours ago, they wear making desperate movies to act a buy back to lure unsuspecting victims back to their project and I hope no one will fall for such gimmick.

Investors need to be careful and very critical of where they invest in this space till there's some sort of control over this crypto market at the very least

Crypto is a global, free and decentralized market. There's no tool or authority that could limit the number or nature of crypto based projects.
Crypto too has became a broad subject ranging from mineable coins to non-blockchain tokens. We can't even make people stop using the name.
The only thing we can do is research for ourselves and take a decision based on our intuition.

Admin of course do that, but only limited for forum ads, if you're talking to bounty campaigns or project Ann, the n community volunteers do the right thing and make a scam accusation against those scam projects.
The user/investor/bounty hunter should be responsible for his/her move before joining on any project posted here.

Probably, it is difficult to define "good project" because so far many good projects are offered, but they end as same in the dumped price. I also agree with your interesting quote:
It means that it is so hard to find whether the team offers promising profits and investment, in fact, so far, many projects are failed or worse to be a scam. That is why I'm personally very careful when going to participate in the new projects. I do not mean to underestimate the new projects, but it is better to be more careful in choosing them in order to avoid the scam, failed projects, or even dump coins.

Unfortunately, not all of the team of new projects will do that tracking. Or even they do such tracking of the price on the market, they cannot do many things because the price really depends on the market, token holders, and also the investors.
Actually, I am also interested in the project with the "Buyback program". But unfortunately, there are only a few projects that will do the same.

Last words, I only expect (everybody also) that the crypto market will run better again, offering the product with the real use case and proven enough. Also, there may be some new tighter regulations to avoid scams (even it is very difficult).

of course , too many project is bad , since investor just a a few people .
and also , mostly , project come just a few with great idea.

Well you said that we're in a decentralised system so it's really hard to control everything that's been going on, specially project sprouting out (whether good or bad) in the market. And the thing is, scam projects has really put a dent and has a domino effect specially to those projects who is good and the team behind has a good intention. So it's a dilemma that is hard to solved, sad to say.

In fact, we will only need a few projects that will solve some problems. A large number of projects we do not need, because most of them a priori will be unsuccessful. But we can't do anything about it unfortunately.

Not all projects are bad but we gonna say these one of them are not trusted.
Because of this happen right now we always experience and encounter one of them in the bounty altcoins.
And Ill did not expect also this would be happen in the time of bull in a past year ends that would have so many projects are they same platform and in the not totally succeed on the project it have.

The growing number of fraudulent projects is also caused by our lack of education as a bounty hunter or investor to find out whether the project is a fraud or a good project that will pay.
Research needs to be done before joining the bounty or when you want to invest. In the beginning, the project will be very promising and look professional. but, behind all that there is a scammer who is eyeing your money and will deceive you.

ICO and IEO both have many professional scammers controlled by 1-2 people and there are even a group of scammers who are already professional. Our job is to report every project that is indicated as a scam.
You can also check the projects that you are taking part in the SCAM ACCUSATIONS (https://bitcointalk.org/index.php?board=83.0) Sub Forum section.


The last thing I can say is, not all new projects are con artists, there are some new projects that really need to be supported and get priority, get to know the project and do research. the ICO Review Website will also be available if it has been registered.

Even it is good or bad project the affect on the market will be negative. The total market will be divided for every new project created and it is not a big help for crypto addoption. instead of making another crypto currency why not support each other and makes only few crypto and just make other ways to use that currency  in that case it will help tha market addoption. Unlike now that investors is confuse what would be the good coin to buy.

What can expect? People these days thinks that anything is possible when it comes to money that is why they are willing to do anything to take advantage of you to get the benefits they wanted. They will make you believe with their sweet words and promises that makes you hard to think whether it's a good project or not unless you've done your own exploration to determine. They will hide their true colors and intentions that's why you will suspected it as scam project. It is the reason why we have to be attentive and cautious particularly on making decision regarding the project that we are going to invest, it is much better if we search for some information and details about it to assure ourselves that the project is worth it and profitable.

In a decentralized environment like the cryptocurrency space, too many projects are expected. This is simply because there's no control on the project that should be established. Any person who is willing, could lunch a project and tell us what he's trying to achieve which in most cases won't be achieved and it goes on and on.

This has something to do with my experience.
I got really exhausted looking for anther project that I want to support.
Something that will be successful in the next 2 to 3 years.
But just like you said it, I strongly agree.

At first I told myself that a competition is good for the market but then it went larger. Large which cannot be controlled anymore and they just keep on repeating the same feature over and over again.
Once you read the whitepaper they are just changing how the paper was produced or the enumeration.

But, I am not losing hope. I just rested for a while and then I am back at looking to buy a good altcoin.

Forum admin wouldn't allow any project they know as a scam to advertise, but AFAIK no scam project would announce they are scammers before they start to run their project, so the forum leaves the decision to invest or have any business with any project in the hands of members of the community, that's the reason why you hear that "scams are unmoderated by the forum".
Neither was I saying they all are bad, my thread was in a bid to seek ways to only see the few good ones, I know it's a difficult task to do and also I've read everyone's reply till now, it now seems more impossible, but for me when I pick altcoins to invest in, I only choose the reputable ones in the market(as I suggested in the OP).

Sadly this is how it is nowadays, whereas the bad projects always comes up and make a name and more popular than a legit project was.

We've too much expectation on one project only to get scammed or it's a really bad project all in all. Even now, the new ones that keeps coming is not that different from the previous ones, which is basically only a copy-cat of the others.

This is indeed true, it's that hard to find such a good altcoin project. I personally is on a "break" for a new project, since I pretty much tired out by seeing the bad one keep popping up. Even when something looks very promising, sadly the outcome is far beyond what we've expected to have.

It is very hard to understand whether the project is scam or real at the very first. In this forum, some devoted seniors are always trying to findout scam projects and waning the bounty participants to avoid that project. I welcome this type of activities. As a decentralized system, anyone can create a new project, but we have to consider whether it is fake or real at first, then decide to promote.

Since mid-2018 I stopped being an investor because of things that were not pleasant for my finances.
On the other hand, it is rather difficult for us to eliminate shitcoin unless there is a product that can sort shitcoin closely. We cannot expect the forum system here indeed, but at least there is a forum that discusses scam projects here. At least we have received a warning from the members of the forum here, although not all of them are reading.

still there are some investors who are determined to invest in new projects, might have thought this project was good and would succeed.
the temptation will always be there for those who are impatient and greedy.
if this method continues to be applied maybe the scam project will decrease because no one else will invest in new projects.
but what about a really good project?
I mean if everyone considers all new projects to be a scam,
then how will they develop?

We are in decentralized world so it doesn't make sense for this forum to start doing research on projects for us, crypto world equals freedom so it's all on us, we have to look out for ourselves

Yes we have to anticipate it from now before it's too late, ICO and IEO have many scamer incidents that occur even good projects can become scamers, so we can see clearly and research properly, don't be too hasty in joining if you are not sure, according to you.
Even projects now need a long process to work on successful projects that can be traded on the exchange, so the core must look at the SCAM ACCUSATIONS board to see the scamer project that was caught.

Hello Coyster

I totally agree on the part about needle in the haystack, but IMO is hard to track good projects due to the rise of ICO's and their wealthy marketing. Shit projects earned money through a an ICO and pushed marketing like mad.

I have been tracking self-funded projects for the last few months and I have actually come across quite a few nice projects. What to do to make it easier to find them? I have already proposed this somewhere  but i would open a section where people could discuss projects that are self-funded and find it hard to invest millions in marketing and promotion.

I agree that it doesn't mean that if a project is self-funded than it is good, but at least it higher chance that it is. One of those projects is Newscrypto.io which i have been following for a month or so. Not going to promote them here, but they seem like a legit project with lots of advantages.

Sounds like cutting off new projects, it doesn't make sense at all, look how many new projects come into this space since the beginning of bear market, yes many of them are fake or scam projects but outstanding projects shows up too, i belief it's our choice if we want to find new good project, with research it's very possible

It's better not to remove the scam warning as that will alert and remind investors of the scam projects, even outside this forum. Once the threads are gone people who didn't read about it before it was gone will remain in the dark and fall prey.

Yet many are good, especially IEO projects from binance, huobi, gate and kucoin, i am on the watch to spot new projects with new use cases, i bet they will rule the top lists on CMC in future, no time to waste

There are kany projects that keep promoting in the.market but most of the projects are scams so we should always be smart. Proper research can help us to avoid that kind of projects. There are investors who becoming new victims because they do not research first before they put their money in a investment. You should blame yourself if you got scammed because you let the scammers to fool you.

Don't touch scam project i hope it will be good ways if you can inquire about a project before investing. I can't show list sorry but i can tell you' i face many scam project of this year even it just my heart take borning.
If you take a unless project then never promoting and mind it their will give you more offer but don't believe.

Too many bad projects. It bothers me. But even bad projects contribute to the development of this market. At least they show us how to do it. Of course, the situation is much worse for those who lose money. Research your team well to understand a good project. Try to find out what kind of power is behind it.

Do the findings yourself, who knows what you can find? We do research for these reasons, to avoid getting scam or investing on bad projects, I rely most of what I can find and if you can find where crypto is still lacking once a new project with rare use cases comes around it won't be hard to make a decision

Most bad projects occur because of new projects that have emerged so far, but all of them make all crypto users smarter when there are new projects.
and they will carry out detailed research in their own way before participating in new projects, and make them more mature in managing their money to invest in the right place.

Why make new project bis bad because depend with developer how to manage their coin, if have serious and experience owner although their are new coin become profitable at the future with working hard to list on many bigger exchange market, always have new way how to make their coin have higher price and always keep promise to be better with their coins.

indeed the developer can be one of the reasons why the project fails and does not have a bright future, but you also need to know that it all depends on the concept and purpose of the project, when the project is not well planned there will be a breakdown as many occur among ICO circles.

You may be right, but scam projects are a reason why those who want to deal with crypto may leave on condition that they never return. The Crypto world also needs the cop, otherwise, everyone will continue to do what they want. If it is possible to correct this by any means, why should we fatigue ourselves.

that's it, if you or someone who understands doesn't promote, then there are still many people out there who will either understand or don't understand the situation, they will still do it for money.
I agree investors are the key, but this will take longer.

when we choose then we can just look for any project that according to our observations is good, but sometimes the results say different and sometimes not according to our wishes. It may be difficult to find profitable projects, but if you only seek profit without looking at the benefits of the project, then you can be trapped and eventually promote fraudulent projects.

Having only smart investors in the market seems be an impossible goal for us since even the traditional markets still have dumb people losing their money in wrong investment moves. I said that we need to have more smart investors in the market but I didn't say that this would completely eliminate all of the bad projects and scams running in the market it just simply minimize the victims these projects will have in the future. Other than that I only see regulation for ICOs to be one of the major factors to help limiting bad projects from entering the market.

I hate to say this but this is a fact that the project is very bad. I started to feel it from mid-2018 until the end of 2019. 1 project has yet to be valued and there are even some that have not been distributed (I think it's a scam), and many are still waiting for listings to market exchange. in my opinion this is unfair because the reason for the altcoin market is falling because participants and investors actually don't care about it, what they care about is that tokens can be seen on the exchange and then can be traded.

I think the current project team is scared because tokens will be of low value, or worse, they are only looking for personal gain.

The current condition of crypto-world is very confusing, because there are too many problems especially with scammers. the fact is that currently there are many legitimate projects that are very difficult to achieve soft cap, investors prefer projects that already exist in the market. I hope lately to hold a joint program to fight scammers. and I have an idea if you find a scam project, get a reward / think of it as a donation that tries to struggle to find a scammer so that the accusations are very strong. because someone would not do, if not just for money. unless they really love him so do it sincerely (like the one on the accusation board today) and that is only a handful of accusations, out there are still many scam projects. but at least this forum is performing and very helpful, now there are many investors who are aware about the current state of crypto-world.

It would be hard for the admins the filter it the projects are going to be scam or not as they don't have any idea what the team developers plans are either for managers that are handling/managing bounties. Project developers or should I prefer scammers would do anything by hook or by crook to get money from the community the project has created.

We hate it because of the fact that, there are too many projects to choose from but most of them are scams, and it is really sad to say that many people has been frustrated with this too, that even if they will be listed on a good exchange, that reputable exchange would not date to check and investigate if what they are listing is good or not too.

I would say that a lot of projects that seek only fast monetization issue tokens on the exchange that are not backed up by real activities. In this regard, now we need to trust STO as opposed to ICO.

The sad fact is that IEO is no different than ICO. Most of the current IEO is also garbage, as soon as the IEO listed on the transaction will encounter a major crash.
The IEO and ICO development teams are only interested in filling their pockets and then leaving, which undermines the confidence of investors.
Until now, I think that there is no project worth investing in.

there is nothing bad with the fact that now it is very difficult to choose a project. I believe that the situation when every second project brought huge profits is not normal. in the classic investment market, it is also very difficult to choose stocks that will bring good profit. if we begin to compare the cryptocurrency market and the traditional one, we will understand that the cryptocurrency market is becoming healthier and is approaching being accepted at the goverment level.

Well, we learn this past year (2018). but now that the 2020 is coming we can change our style of choosing a good project that can deliver their goals well. past years are so many investors and freelancers seeking to have a project to participate that they didn't investigate well, so many scam projects didn't afraid to show up and scam all the users. if everyone change then 2020 is a start for new crypto environment, less of scammers.   

we really should have developed from our lessons and experiences during the market decline and so many project scams that we see. but not much has begun to learn from experience, many of bounty hunters only choose projects for them to do without doing research. because many projects look good but end in fraud. we also cannot avoid it completely.

Investing only in Binance IEOs would not be a right idea as some newbies' proposals. Maybe we should find a way to inform the majority and keep them awake. It is the reason why we have to be attentive and cautious particularly on making decision regarding the project that we are going to invest, it is much better if we search for some information and details about it to assure ourselves that the project is worth it and profitable. If you take a unless project then never promoting and mind it their will give you more offer but don't believe.

smart teams make smart distribution of their tokens for both investors and bounty hunters. You can look at Tokoin. I believe that they have an ideal payment system for investors and for those people who are involved in the marketing of this project. they did not distribute coins before they entered the exchange and they stretch payments for several months so as not to hurt the exchange rate of their coins.

The traditional markets were easy to predict due to repeated market patterns but the volatile crypto market is not predictable because of the various external factors. The market predictions can change in a short time right after the single bull trend, it has happened many times. Stock shares have the real value but not all investors accept the cryptocurrencies as a store of value.

Many smart bounty campaign manager never sent and distributed bounty reward coin fully but always have many phase to distribution coin, they try to make keep stable coin after listing on exchange market and give 30% allocation coin for bounty campaign in on month and then distribution next month 30% again, keep higher price for their coin because not sent full for bounty coin reward.

Yes, this is the bitter truth in crypto and sadly we can not run away from it because lots of good projects can turn into bad after a certain time. Now investors are smart enough to pick a better project for investment but yet after one or two years, those good projects become shit or dead or even scam. So, cryptomarket always will have shit coins, until people stop investing in new projects or we should only invest in a project that already has a working product.

Not going to name any names but I have been part of some bad projects myself and most of the time the project fails because community is not big enough or rich enough to keep it alive. You have to realize there are shady and scam projects that just steals your money and that is true but there are projects that fail because nobody backs it enough neither.

Some of the projects I was involved with tried their best, spent tens of bitcoins, probably hundreds of bitcoin to keep the project alive, improved it, fixed it, put new features in it but in the end whenever the price went up people just stopped using it and sold their coins so the coin never really took off, whenever it tried to there was brigades of sales. We can't blame the project managers for all projects, maybe most of it but not all of it.

This is a serious issue we are having in crypto space and 60% or more of these projects isn't good to the space as the owners are not just to grow blockchain but to scam users and run. If only we can eliminate this and allow potential projects only on exchanges, the market will grow more and there will be good liquidity for exchanges.

I think too many bad projects is bad. I think having a choice is a good thing but when that choice becomes riddled with shit coin and scams it can become annoying since you have to dig even deeper to find decent projects. You are forced to wad your way through all the shit. I have just been reading how some people are fooled bit promising them 300% back in 7 days. Who falls for that?? Hundreds did.... I wish people would just stop. Those are not investments I wish people would learn what an investment looks like.

I totally agree. Picking out those who are in the market already is the very safest move and decision an investor would ever made as for today's project that we are bombarded by tons of fraudulent, and close to being failure project so being selfish to those who are seemed looking good yet completely unknown is much better than picking them out right away. Therefore a realistic criteria on where to invest (like this factor) is a smartest move an investor would ever made to avoid getting nowhere.

Realistic thinking is indeed needed, in our investment we will always look for someone's work history or a place that certainly has a satisfactory level of security for us. therefore the history of work ever held must be our concern as well. because a person or place that already has a good level of experience will continue to develop its potential and I think it will be safer too

Buddy, You should know that people got red trust by promoting scam projects like Nexxus Rewards, Zeux. This forum's members are always careful about the scam, Ponzi scheme, HYIP shits, so, no one is allowed to promote scam projects here. But how can you protect a project that was good but now they scam or run away? That's the question and its the thing that OP trying to say.

Of course only few successful project we are getting from cryptocurrency. That's make us sick. Coinmarketcap isn't bad that we know, everyday 0-5 coin/token are listed. Every year new 1K coin/token where we have already over 3k altcoins. New process is IMO that's quite interesting to me, but still no guarantee for new coin.

Are you saying that the projects that are already in existence, particularly the old ones should be the ones to bring up new projects?
I do agree with you on some points, but Inasmuch as the crypto space is still what it is, there will always be new projects, which is a welcome idea. Our duty is to sieve out the best from them and focus on them. Well, the success rate of these projects has seriously reduced and there is no doubt about that.

we can only predict a project, and we always follow its development, in every step that will be taken by the developer, of course there is a signal that can be read. so we can avoid before. but sometimes due to the large number of projects that are followed, we cannot follow it closely, and ultimately are missed

Like most people would agree, it's a free market and regulations might be difficult to take control over such market, one thing that will put these shit projects to check is when investors or probably bounty hunters begin to check these projects before venturing in. Many of them are really just not it. If you take your time to go through it, you wouldn't even venture into it

You can't just use legislation all the time as an excuse. We don't need regulations. People just need to start thinking and stop giving into lies scammers tell them. YOu cannot say we need regualtion to protect us. People need to think and protect themselves as well. Crypto is decentralized to begin with so we don't need an "upper" power telling us what is safe or not. You know a hot fire is unsafe to put your hand in, you don't need anyone to tell you this. The fact still remains that fire is hot. So don't put your goddam head right into it.