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Crypto is a perfect engine for scammers because it's still unregulated and it's also the wild west when it comes to making money quick with less efforts. .

Apart from rugpulls and influencers scam that are very famous with altcoin investment there is one particular side I want you to be much aware of.

Many altcoins you are seeing right now are build on "Make the project, promise the entire world rare utilities and never really deliver anything, they will keep using words and investors will keep hoping.

They deliver small updates only to push the price higher.

They spent hours live streaming almost everyday.

They trust hype more than anything and a finished product will ruin it.

Keep a track of your altcoins regularly and once you see the slackness in the team it's safer to switch.

Altcoins are dead in bear market. 2022 Q3 report from Coingecko (https://assets.coingecko.com/reports/2022-Q3-Report/CoinGecko-2022-Q3-Report.pdf) has good insights about altcoins.

Shit altcoins from DeFi, meme, -Earn projects did not relief well in Q3 2022 and they became worse in Q4 2022 but we have to wait for Q4 2022 report from Coingecko.

Before having that report in early 2024, Coingecko has How Many Cryptocurrencies have Failed? (https://www.coingecko.com/research/publications/how-many-cryptocurrencies-failed). You would be shocked by this infographic.


Within 1 year, 2021 to 2022

For the entirety of cryptocurrencies, everyone must be careful where they invest except having bitcoin. Aside from the usual scams that's being done through the form of projects and as well as the crowdfunding, IEO, NFTs, Metaverse and others.

When the bear market comes, most of these con projects are being exposed because even the best projects do suffer at these times.

And they just can't avoid the consequence of it.

I don't know what the current requirements for being registered or listed on Coingecko or Coinmarketcap . However, I've heard that there is a priority listing for Coingecko and Coinmarketcap, where dev need to pay $$$$$ to get a fast listing. So I'm no longer surprised if this is happens, since going from a strict listing process to a paid listing will result in a large number of dead coins. After all, 2021-2022 era is the era of memes which makes a lot of sense that many will die, despite the rumors of the priority list.

Note: I'm not accusing, just hearing rumours. please correct me if wrong.

I won't just switch, I will clean up all my investment to them including the other projects they are connected with if there is any.
They should have to keep everyone updated, if they cannot answer queries that are mostly important then that's the time doubt comes.
It's not just one investor who will have the same thought as you, there will be many of you and the reaction to it's market will start going down when you are late in selling them.
I don't have a perfect streak in doing this as there are times, I was attached to them, or I was caught in the middle where there's no chance you could get ROI anymore.

Yeah, you're right. That's why I'm buying only big projects that were tested over time. But sometimes it might not help, I guess...

Yeah, majority of it is just pure pump and dump.

And then they are projects that are solid, however, there is no support from the market itself.

Another version is those coins that are high regards, probably in the top 1-50, that are good to invest with, but still there are risk involved as well. Let's say Ethereum in 2018, went down to it's all time low of $80 and we don't that it will die, but then in the bull run in 2021, it goes as high as almost $5k. So if in 2018 you think that it will not survived and you think invest because of the risk, then maybe you might have regret your decision.

Sometime betting on small but good projects are also worth it since they could gave you much higher multiplier but the problem here is the risk of choosing the best altcoin for buying. Nowadays we can see a lot of rug pull type projects but we need to really check and investigate properly what are those that have real potential and utility.

Yes, it is. However, there's no business that doesn't have its share of scammers even when they're regulated. Forex Trading and Stocks still grasp with that till date. It's always one story or verification or breaking the rule or the other in forex trading once the broker is a fraudulent one. Crypto is just slightly over a decade old and we know with time as it progresses some of these teething problems will be bygone.

Sometimes investors don't even have an idea of what's going to hit them and can't get out quickly until it's late. We saw what happened with LUNA and FTX.

If you're seeing an altcoin project that giving little to no update and just doesn't give any assurance, then, you're into a project that either will just be on the short term. If project is still thriving, building, looking out for its community even in this crypto winter, then, trust me that project is worth the wait, it could be the project to retire your early.

well at the end of the day, it's definitely depends in the team themselves, there might be some coins that only suited for long term holding that is the majority of meme coins and the others might be some trending coins.
But if you could somehow find some promising project it could turns out to be massive returns after long term holding but of course these are very rare, surely coins like matic and solana which could scores this tremendous amount of valuation nowadays begins as a new coins that being underestimated, but they could make themselves famous.

Crypto is not exactly unregulated, scammers could still get jail time if you know who scammed you. The difference is that when you are dealing in fiat, you usually know who you are dealing with, and who to sue when something goes wrong and even in the fiat world scammers are running rampant as we all know.

However, in the crypto world where we are talking about something that is delicate, if you know the scammer then you could go to police and report them and open a lawsuit against them and they will be punished for it. Look at SBF, he scammed everyone with his company and now he is being possibly jailed for it as well, which means it's regulated just like fiat as long as you know the scammer.

The problem here is that, some projects who are still updating their system can still ended up as a scam just like what’s in the OP as they lived up with the hype and almost everyday live-streaming is quiet suspicious already. There’s a lot of trick with the altcoins, many are a failed project in the first place while some are struggling to get investors even if their intentions are clean. If you are hesitant to buy new altcoins then better to buy top coins instead.

I definitely agree with you here. I think that the crypto space provides many opportunities and it still is possible to make great profits in here within a relatively short amount of time. That being said, the chances to lose your investment are probably higher than the chance to actually make a profit with it and the many scams that are going in the crypto world are a big reason for that. Even if you are doing your research and you check everything about a project that is available you can still fall victim to a scam and lose all your money. My advice would be to not touch meme-coins at all because their only purpose is to make the team behind it reach without any effort.

Nonregulation has little or nothing to do with it, i don't believe most of what the government says, that they want to regulate crypto because they want to save individuals from losing money, i rather think they want to regulate crypto because they want absolute control of everybody's life and finances. Scammers and fake projects scam people and make money out of them mainly because these people are greedy and do not research about the projects they invest in.
That is the thing, altcoins are renowned for being short term projects/gambling projects/pump and dump projects. If you must use them you have to be ready to either sell out or buy quickly which most people cannot do successfully.

If there’s no update and the project didn’t follow their roadmap professionally most probably that project will failed and for sure many investors will lose their money. If you are looking for a good altcoins, its already out in the market and it can be lesser risk compare to the new project. Don’t get hyped with their updates if you can’t still see it most probably they are just doing it to attract investors which return is not guaranteed.

If you're afraid to risk your investment, don't hug altcoins as your investment because they aren't worth it.  It seems you gambled your money playing with a high-odds game or have a high multiplier.

So basically what people are looking for?  Quick profit?
We've already altcoins that are listed on Coinmarketcap that has real utility if this is what they are meant for, but they're just looking for a hype coin that makes them rich quickly but doesn't have real use.

True, many proves are here, so many altcoin projects turn to be scams. There are only a few altcoin projects that are exactly worthy and can survive for long-term era. But, most are failed, even failed never be listed on an exchange, scam, failed trading volume, and others. ANd these are part of the scam itself actually.

Many developer teams are doing this and most of them are creating shit projects again and again with a different name and different fake teams. This always happens and they always make big promises that are too good to be realized. Their main victims are the newbies that are easily believing on what their promise.

Rather than wasting time to track your altcoins regularly and you need to switch your coins ASAP, why not choose Bitcoin?, if you track your coins this mean you need to always active for 24/7 since if you miss the moment, your coins price will decrease at least more than 50%. We're human and we can't track our coins for more than 16 hours per day, also we have an activity and business everyday.

There's many scam coins out there, the recent one is LUNA and FTX token.

I could be wrong but they provide free listings that are not hard but when you need to update your project information, you will have to wait long.

So people find back doors to update their project information faster but with initial listing, they don't need back doors.

Coinmarketcap and Coingecko are important but they are less important than big exchange. If projects want to use money for back doors, they will use it for top exchange listing, not for these sites.

Mithril requests Binance to refund 200,000 BNB worth $53 million following delisting (https://www.fxstreet.com/cryptocurrencies/news/mithril-requests-binance-to-refund-200-000-bnb-worth-53-million-following-delisting-202212151621)

Projects can be listed and delisted on Coinmarketcap, Coingecko, exchanges. It's natural.

True. It's hard to find trustworthy altcoins, especially new ones. Tbh this is one of the main reasons why BTC takes the biggest part of my portfolio. Anyway, most of the altcoins just follow it when the price changes.

There are lots of reasons to be careful about altcoins just like you said, it is a perfect vessels most scammers use in stealing from unsuspecting investors. But scams and fraud is not limited cryptocurrency and altcoins alone. There are many cases of fraud in stock investments and we also hear of wire fraud which passes through banks which are regulated. Whether cryptocurrency projects or conventional regulated transactions, there will always be those who will want to take the advantage to scam others.
Fraud and scams are not limited to cryptocurrency.

You will not be able to catch slacking teams so easily. If they are slacking, they will no reveal it either. There are many altcoins which you might buy but you will end up finding the coins going down like anything and by then it would be too late to retaliate.

Hence the better option is no altcoin investment at all. But we all know that are humans who love risky investment and hence the situation ends like this.

Keep yourself honest with bitcoin and reap the benefits without losing much sleep. That is what I have seen.

But, we can always do our research if we want to invest in a new altcoin. Researching is so powerful and it can increase your chances of picking up a potential project than if you will only pick based on your instincts. If you are still unsure then much better if you back out and go on a much older alts as they are easier to identify if which of them are good for the long run and which are not. Last but not the least will be Bitcoin. You can't go wrong with this one.

This is the first crypto so we are sure that it won't collapse anytime soon. I think the coins that follows BTC are smaller altcoins while for the larger ones, they are strong enough to sometimes move on their own.

Altcoins in a nutshell. Crypto is the perfect place for scammers since a lot of people can be considered new since the crypto scene is still pretty young. Not to mention that crypto is well known outside to be accessible even by younger people, unlike with say, stocks, lands, etc., which seem too complicated and can be considered as the playground of adults instead of young people.

Well, your best bet, if you want to enter the altcoin market, is to have a bunch of experience under your belt, and a lot of time to scrutinize a project. Otherwise, I'd just DCA Bitcoin really. It wouldn't bring as big of a profit as you can get in altcoins, but it's less risky compared to it, and no need to handle it since it's a plan to hold for the long term as well.

A lot depends on the idea of the project itself. If the idea of the project is questionable, then the project itself too! If the project puts forward a clear and interesting idea, then there is nothing wrong with this project! It's just that some people are used to thinking according to a template and evaluating everything the same, and this is a misconception, so there is such distrust of altcoins, but in fact there are quite a lot of worthy projects on the Ethereum platform. I like projects on the Ethereum platform, I like to analyze them in more detail.

Generally, it was a dirty tactic from scammers and they will do their best to lie to the community and give false hope to the believers. But, I don't understand why many people still don't see it or just ignore the things that they are investing in most likely a scam project.

I don't know if this was really a practical idea or not, "investing in hyped projects". I'd see people continuously giving their support to this kind of project, I don't know what they expect from these coins but we can't hide the truth also that it sometimes gives them more profit than known coins like Bitcoin.

Sad but true, when I entered crypto before, alt is not starting to take off, but there are money to be made like in bounty or airdrop. But as soon the scammers get a hold of the market, it's very difficult to moved not. Everyone is scamming everyone, hackers are in the ecosystem.


Yeah, Bitcoin could be less risky but it's a sure way to make profit in the future. I have nothing against altcoins, but as the title says, we need to be very careful not to fall for scam projects or those who are just being used for pump and dump.

It's important to be careful because there are literally thousands of Altcoins, and we may be more familiar with some of the more popular ones like Bitcoin and Ethereum, but there really are a lot of choices.
And before you invest in an altcoin, you should research your options very carefully, and don't assume that the coin with the most stress is the best one to invest your money in.
a lot of altcoins that end up being a scam and there are also profitable altcoins especially the top ones and also the oldest ones so a word of caution really applies to altcoins especially the new ones.

Projects are the one being a scam and altcoins released in the market are simply failing. But the idea is there; not all altcoins are succeeding in this industry; some are profitable to invest and majority are not. Some would have huge popularity at first but eventually it would fade because of the sustainability of the project itself. Many projects are being released on a weekly basis and not all of these altcoin generating projects are profitable to invest so doing a research on it would really help as you have advised.

Altcoins are indeed decieving; from their concept and utilities.Many projects would be appealing on our eyes but if things or rewards are unrealistic, one should doubt already given the ratio of paying or legitimate altcoin projects to the paying ones, would show a huge difference against rewarding altcoins.

Despite of reminding these and that, it seems that investors somehow wouldn't quit of taking chances in order to get profit. For them it's like gambling and not really an investment since there's this high risk, high reward chances but also high risk of losing everything you have.

There are handful altcoins out there that has really had a real value and usefulness but there are also altcoins that is driven by pump and dump category. It's hard to predict which coin you have to invest that would really give you a decent profit after investing but you should do your own research after all to avoid the scammers.

It always does happen in almost most of the new altcoin projects currently. Although it has been told for so many time but still people are struggling to even filter which one is worth to invest for new "altcoin projects" in current year, always repeat the same mistakes. Not to many mention the bounty hunters just blindly promote the projects without any research at all.

Once the admin or the team of that desired projects are inactive on one or all of the social medias then that's a red sign for us.

Correct

Those are just two recent examples, but what is clear is that the list is very long especially since almost every day new altcoin are being created. Of course, everyone needs to worry more about altcoin because so far altcoin have actually made the industry seem unreliable. His reputation was so bad, it impacted the entire industry.

Scams will never go away, altcoin projects are one of the fields for developers to scam people. Avoid it more often, and turn your attention to bitcoin. I'm not going to generalize everything, but the some of them is same, especially about altcoin that are being developed.

This is too much of a waste of time to see almost every day maybe even every hour there is a new project on altcoins and can we find at least 1 good one a day? in this case even if there is but how much time we waste on it.
I personally prefer to be in a certain place and staying in bitcoin is a very sure thing for me than having to spend hours on something that is not very clear.

Even if I'm not mistaken in the last year a lot of Inu projects have even been introduced here a few times but it's still trash in the end lol
It's really hard to believe in something like this that emphasizes pump and dump hype, but it's strange that there are still many people who are always caught in a trap like this, even some of them already know and can't be said to be beginners anymore. APY that doesn't make sense when it's clear that it's something impossible but they still fall into the trap.

Well fiat is still also being used by scammers. Fiat is regulated but it is still being used by scammers. See those call center scammers that are calling older people just to scam? They sometimes do the scam both using crypto and fiat. I know the topic is all about project and stuff, but people should be at least aware that any means to pay could be also used to scam people.

About the projects, well expect a lot lazy devs to milk these since they think that they are doing unique, but in reality, they're not.

Being a newbie doesn't give anyone the right to be foolish enough to get scammed. If you are scammed in a techie way that is understandable, download metamask from somewhere wrong, or connect your metamask to a dangerous website etc etc, these are all tech related and it would be normal for a newbie to get hacked or scammed that way and lose their money.

However, if we are talking about some random person pm'ing you and offering you a great chance to make 10x return on your investment in a month or two, and you believe that it is true because they show you some screenshots as proof, and then they take your money and block you and leave? That is %100 your own fault.

Buying other than Bitcoin is the right decision, compared to you having to buy thousands of alts that are spread all over the world, Bitcoin is everyone's main standard, instead of having to buy Alts which don't necessarily make you a billionaire, instead you will experience quite a big loss  , so for now it's not right for us to buy Alts on several exchanges, even the top or lowest Alts, only one if you want to buy, namely Bitcoin.

Most of the Altcoins I know in Cryptocurrency are scams. But there are many projects that are very good and the least likely to be a scam. Scams are especially rare on Ethereum platforms. If you are interested in investing in altcoins then it is better to look for good coins to invest. But the current situation is that investing in Bitcoin is definitely more profitable than investing in crypto. As the market is currently in a very bad state, it is better to invest in Bitcoin at this time.

Well, if we talk about being careful with altcoins, then this should probably also be attributed to Bitcoin, since the main cryptocurrency also often has a large price volatility. However, if we talk about value, then BTC is definitely the leader here, although some of the altcoins still manage to bring good profits to their holders, well, if you know when to sell and when to buy. As for the release of new altkins, yes, there is a very bad trend when altcoins are created simply to raise funds, which of course negatively affects the development of the crypto market and the attitude of the community towards it. As a result, we all have to be more careful when choosing altcoins for investment, especially when it comes to new crypto assets. I really want to believe that the situation in the crypto market will change for the better and successful altcoins will also appear on the market.

Many do not take into account a very important point about altcoins. This is a very big advantage that altcoins have. A very important point is that altcoins usually have a relatively low price and it is much easier to raise such a price, and I repeat once again that it is much easier to raise such a price and not many people take this into account, and this is a very important advantage! Therefore, those who do not speak very well about altcoins, they simply do not understand well what their advantages are. Of course, a lot undoubtedly depends on the project itself, because if the project is abandoned, then there is no sense in it. Therefore, yes, caution does have an important role when choosing projects.

Yes, this is all true. Most of the owners of scam projects make many promises and great goals to attract investors and gain their trust. Investors will continue to hope for many years, and in the end, the finished product of the project will ruin it, the altcoin will collapse, the project will fail completely, and investors’ money will be lost and their hopes will be destroyed. Therefore, the altcoin project team is among the most important factors that we must take into account before investing in any altcoins, because if a team is not honest with its promises and does not have sufficient experience, and is reckless, then we can immediately switch to any altcoins, so this decision will be safer.

It is not necessary anymore if you are only investing in potential altcoins like Ethereum. But if you are in these shitcoins and new projects, you'll gonna do that otherwise it makes you surprised that your portfolio had gone ZERO.

Investing in altcoins isn't a bad idea but investing in new projects is a different story and riskier. As an investor, we need to learn how to assess the projects before investing if we need to avoid losses. Scam projects are flooded in the market which is why we should be careful and cautious with them, especially for hyped projects.

Indeed, altcoins can be very profitable for their holders if used correctly and appropriately. Moreover, many altcoins are used by whales to gain profits.
We as swords can take altcoins that have the potential to increase in price and sell them before the pope or the person holding the most coins sells all of their assets. I admit it is not easy to be able to do that.
A trader must really look at and analyze prices from start to finish, not to mention still have to determine the location of the price when buying or selling it appropriately.
However, vigilance and caution remain the most important points in order to avoid the risk of losing large amounts of money, because trading altcoins has a greater risk than buying a coin with good fundamentals like Bitcoin.

This is very true. Investing and taking a risk is really different if you know what you are doing. Taking a risk to buy an altcoin that is not really profitable and useless in the future is just a waste of money, and investing is really the key to success and could earn you big if you invest in the right altcoin that has the active team and still on the development of a very long time like ETH except Bitcoin of course..

I think OP is pertaining to the altcoins that are born during the bull market. Let's be honest, Majority of the altcoin that are made during the bull market are now dead and has low to zero value today. The altcoins that are created during bull market are mostly hype driven and we have seen a lot of rug pulls more than ever in the history of crypto and addition to that is projects are hugging influencers partnerships rather than project development which is the opposite of successful crypto project.

The unregulated market? It’s better be that way because that’s the whole point of crypto currencies and the way they should be working by now. I mean the whole principle is to have regulation free currency which we now have and enjoying it.

Now nobody cares if the market is unregulated or how is it going with it as long as you are playing it completely safe with altcoin market. We can do it safely only if know on which project to trust and which not.

Altcoins are in a state of having huge trouble this time. A scam is one of the big problems that it triggers doubt and uncertainty in investors. In fact, their numbers are multiplying because of being unregulated and nobody stopped developers to create this. If we are going through this every day, I don't know what really happen in the market when it covered a huge percentage of useless projects.
The government is very much concerned about and now targeting crypto in order to have their control as well after fiat.

The main reason is the proof that most of the altcoins are shit coins. Whatever their concepts and promises, they will be shit coins and not worthy. They have very big promises, but they will not be able to reach them, or even if they reach them, they can only maintain them for a while, and then, fall down tot he earth and become shit coins again.
Only very few altcoins that are exactly surviving around the years, from year to year. Even top coins like Litecoin and XRP which are old coins, are also dropping and cannot reach their previous price again in the last bullish era. Altcoins will likely be always replaced by others in every era.

The altcoin area is brimming with scam projects, it has been that way since the early years of cryptocurrency.  We even witnessed a supposed to be legit project turning into scam and fraud which is why doing extra care and extra research is very important.  We must also be updated on all corners of the cryptocurrency we are invested one wrong move and delay of information can cost us our investment.  Many altcoins often do swaps to get rid of holders that are idle(which I think is another form of scam).  So we should be very careful in dealing with alts.

had those shit coins being created in current bearish surely people would be using their wiser mind in deciding to not invest into these kind of coins, the thing with these shit coins that you mentioned is that they are created in the middle of bullish where quite literally everyone judgment getting clouded by the profits they are making, that would certainly the only catalyst in the growth of these shitcoins in general, therefore in trend of bullish investing should be done carefully than in bearish from my 2 cents and certainly majority of coins will vanish when the trend is changing.

There is a saying, tokens are generated out of thin air. This suits with thes kind of scam projects that mainly focus on the scamming the investors and run away. In recent years this have increased much, as cryptocurrency is well talked freely. The same is used as an opportunity by scammers to make money out of the common people with false statements. This can be overcome only through proper learning about cryptocurrencies and the market.

Many projects in the crypto market are unreliable. Many altcoins that start off as quick profits to attract more investors turn out to be scams.
It is imperative to carefully research your options before investing in altcoins. To avoid bigger losses it is better to turn your attention to Bitcoin.

Many altcoin have been scam from price drop until 100% like Luna and FTT until exploit issues and make their coins delisting from exchange market, I still hold about three altcoin have been scam and not ability for selling it after delisting in top exchange market. Seems easy with altcoin project get exploit and make us more careful when investing in altcoin project.

Unacceptable reason with several altcoin upgrade or changed their contract address without giving the same compensation with previous or old coin holder, actually risk when long term investing in altcoin, not only issues with exploit but change smart contract address make us loss much money with unlogic refund with old coins holding.

Crypto has attracted alot of scammers and they tend to do their bidding using altcoins.
They only create altcoin not for the benefits of the community but because of their selfish and greedy intentions, that's why you see an altcoin that's doing great to will suddenly get rugged the next day.

This has been happening in the entire crypto world for a long time already. Scammers are always hiding behind new projects and targeting many investors with their flowery words of promises about their projects just to take money from them. They will lie just to attract investors and would run away later on. That's why we are always advised to research so we won't fall for their trap. We must be observant as much as possible so we will know if a project is legit or not.

Scammers do not slack, and every year they create more and more scam tokens with big promises. If a project is traded on some pancakeswap, that's a reason to think to pass by that token. Usually such tokens have extremely scarce capitalization and trading volume, and their creators are anonymous and do not disclose their identity. Such a project is 99% scam.

I agree with the main text of the message and this part of the emphasis. Many of the altcoins were created with the obvious fraudulent purpose. We all know this. There are very few projects that are truly technology-oriented and have a vision. That's why we should always be vigilant in this market. In particular, we should avoid establishing emotional ties with altcoins. When we reach profits in altcoins that will satisfy us, we should make it a habit to make logical decisions. Otherwise, we cannot have good memories in this market.

These projects, or new projects (alts) are like sports betting. During a football match, the score can change more times and even a few minutes before the end, you can lose or win everything. The Standard odds are between x1.1 to x3. The odds with x4 are riskier, but they happen often. And it is the same with such projects, it happens, but you need a lot of luck and patience not to decide too early and at the best moment. Some projects start as scams, most recently Play and Earn games with such beautiful NFT mods…

Some good advice here, also worth mentioning that if your coin has a CEO or was largely premined then it can be very risky. Decentralisation is very important in crypto, we have all seen first hand what can happen when one or a few people have too much control over a project.

I wish you all the very best of lucky but extensive research is required before significantly investing in altcoins.

The notion to keep regular track of a project's development is somewhat not approachable if we talking about altcoin. Almost all altcoins are worthless, it is hard to separate the wheat from the chaff. It is better to analyze the fundamental topic in the first hand that some altcoins bring instead of following up regularly about it. Say, how does the consensus mechanism works within its protocol and also the community?

That kind of question may address one of a few basic questions about the project quality, it is better than jumping out directly into some project, and then researching later.

Researching should always be done first and if there would be doubts and incompetences such as a lack of updates about their developments, it would be better to switch to higher potential coins which have a better foundation. Well-established coins have always been the best choice if we are having second thoughts about new projects because scammers are now using project launching to take money from investors which we should be skeptical about.

This is most likely what will gonna happen also when their telegram group has some less active managers or also active but only promising their investors some false promises. This is why it is really good if you only put your money in bitcoins in this kind of market situation because those altcoins will not really survive after this bearish trend and probably their owner is planning to launch a new project and abandon their current one because of how they failed to increase its sells and they also failed to follow their roadmaps due to low budgets and sales.

Actually, my point is that if someone is done with proper research, a problem like observing incompetencies should not be a problem. It is because any red flags have been filtered within the research process. If some project can't sustain with the only available current team or developers, especially if it came from the project foundations, it would raise a concern in regard to the  communities that evolve within the ecosystem. It also tells a sign the project is centralized.

True. However, the market as a whole has recently decayed. Projects only come to raise funds and then leave. They don't actually give a shit about investors. On the other hand, delivering product does not always help. Because I've seen a few projects deliver the product they promised, but investors don't care; they sell tokens and move on. Some investors even sell their tokens at a loss. How will you keep them at bay? Today's investors' mindset has shifted. They believe in quick profits and sell tokens. As a result, even good projects crash immediately after launch on decentralized exchanges, rendering them unrecoverable. As a result, the intentions of investors and projects have changed. Everyone only considers quick money.

Exactly.
That's their product and having a product through an altcoin is a big responsibility. And these developers know nothing but only the best for themselves and not for the project.
They make one, sell it to the gullible investors that think they've got an amazing thing and project and then all of a sudden, they'll only see that they're being rug pulled.

I say NOT really a perfect engine for scammers but we can't deny that it was one tool for them to fool people and take advantage of the situation as they can be anonymous. Yet, many scammers have been captured and put in jail while using cryptocurrencies and it was because of the participation of the community.

I see that people are not learning how these scammers do, yet some people still fall into their hands because of their greed. Generally, they are now cautious with their actions and decisions when it comes to choosing coins to invest with.

Any crypto project is risky. There are only a few altcoin projects that are worthwhile and can develop in the long term, and these altcoins may make huge profits here in a short period of time.
Most altcoin projects eventually turn into scams over time, and many investors can fall victim to it and lose a lot of money.

This is because the investors themselves are absolutely not interested in the product itself. The main reason for their participation is banal speculation and nothing else. This is the reason why various game projects, metaverses, social and other projects have difficulties and their tokens quickly depreciate. Investors are not interested in their product, they come there only to withdraw liquidity and then start looking for a new young project that can give a good profit.

That's why when pandemic came, I stop buying some new alts because I know most of them will collapse, especially those project whk doesn't have a solid marketing and strategic plans. A project witout a strategic plan for during these times are not too worth to invest with. I will make a deep research about everything before buying not because some influencers bought it or someone tweeted it.

Sure, no crypto project is 100% safe/secure. Even, top crypto projects can fail, FTX is the perfect example of this.
However, altcoins offer the opportunity to earn huge profits because they have big volatility. Altcoin prices can change drastically in a short time whenever there is good news. It is a bit different with Bitcoin, the price increases gradually and it rarely changes drastically like altcoin prices. I assume, only BTC halving that can BTC price increase very significantly.

Yep, there are many investors who lose their funds because they invested in the wrong projects. Most of them lose funds through new crypto projects, they bought the tokens in IEO or ICO phases. This is a serious warning that we must be very very careful to choose crypto projects. If they look unconvincingly, it is better to ignore/avoid them.

The uncomfortable truth is there is nothing behind most coins we have in this market, if you were to ask investors about why they decided to put their money behind a particular coin you will receive superficial answers like the ones you bring forward.

And many times you will not receive any logical explanation at all and instead you will listen to their wishful thinking about how the coin they picked will grow 100x or even 1000x for no reason at all, and when you face that situation there is nothing you can do as it is impossible to convince those investors about the huge mistake they are making by doing this.

People are acting as if scammers do not exist in the fiat world and that is the thing that bothers me the most. I mean fiat world has a lot more scammers and it happens every single day, so much so that there are companies out there who scam people constantly. This means that crypto of course has scammers, because everywhere and every currency has scammers, even non currency related stuff could be used for scamming as well, like scamming for influence or power as well.

All in all, you are not going to stop people from lying to get more. That is the nature of humanity and it will continue to do so until end of times. I am guessing that the best thing we could do right now would be just focusing on ourselves and how to prevent getting scammed.

A lot of altcoin projects just get funding for their own benefit and leave. Altcoins, while offering the opportunity to make huge profits, are only temporary. If you do not grasp the correct timing of buying and selling, you may lose money.

Alarmingly, scam projects are becoming more increase in the crypto world. The project you thought that has good utilities and good team management these days always turns out to be a scam. It is currently challenging to tell a legitimate project apart from a scam project. In the unlikely event that you come across a promising project, it won't have enough investors to advance and won't be able to compete in the cryptocurrency market.

The entire altcoin market, outside of bitcoin, is currently too risky to invest in. Even an altcoin that is currently ranked in the top 50 can suddenly drop significantly in price example luna.

Invest in bitcoin to protect your capital, and avoid altcoin controversies that will lead to possible losses.

I guess you have had a taste of such altcoins as well  ;D  But to be honest whatever you said is absolutely true.
Altcoins are the riskiest asset since our investment will completely depend on how the project team is doing about the project.
One mistake can potentially risk our money to go down the drain which is why we should research very well about what we invest in.
Investing is established projects (top 10 in marketcap) with potential growth and a strong team should be the ideal choice.

it is indeed requires analysis and right moment in getting profits from these coins in general, mainly because most of these coins aren't really designed for long term instead you just ride the train and then leaves because at the end of the trend, there's always massive decrease in value because many are investing for good profits but when the project showing no signs of further increase, surely many that have invested will race in dumping their coins and this causes massive decrease.

Now a days as I have seen that many projects are doing scam as I can say the they are taking the benefit of the bear market and through their ICO's, IEO's and sales etc. . They are taking people money and at the time of listing, they delayed and taking the name of the bear market even though many of them are scam ones.

This topic makes me remember my experience with a project from ICO era. I joined their signature campaign and promoted their product. And even bought some. They promised to deliver mobile application to sell goods. It sounded like good idea to me but I realized there were no devs, there was no app, there was only telegram group a random guy keeps telling "I joined this" and "I joined that". After all coin lost all its transaction, and I realized I wasted my investment. So you should study altcoin projects before investing.

Many altcoins are profitable at the beginning, but over time they end up being scams, and most of the altcoins in the market end in failure. To avoid losing a lot of money and risk, investing in Bitcoin can be more profitable than investing in altcoins.

the current reality is that many projects are carried out only to raise funds for self-interest, not for the purpose of developing the project. They know that at this time it is indeed difficult to gather investors for every project that will be carried out, but they keep going and if the funds collected from investors are not reached, they will easily disappear without a trace.

now you really have to be careful with every new project and don't be easily tempted by the promised value, because when the project can't achieve what you want, it's likely that what was promised will still be fulfilled, but the value you get will be less than what was given, not even a little it's not worth it anymore. Of course this hurts but this is the current reality and everyone can't do anything but always analyze well before getting involved with a new project.

These are the developers who are trying to develop projects that would ruin the market image and bring a huge disaster. They are not just greedy people but they are showing us that they can't be trusted. Because as a responsible crypto project developer will certainly look for the benefit of everyone, not only for themselves and the company. In fact, it will ruin not only their reputation and the trust of their friends and family members.

We don't need them and so they're useless/scam projects. That is why we should be wise enough to choose a project to invest in.

I agree that the developer is greedy, but I want to ask you, when investing in a project what do you expect? Is it waiting to increase in price and then sell it for a profit? We are also greedy, and we are no different from them. I don't believe that someone will invest in the project and support it to the end, but instead, we will sell them for a good profit and quickly find a new project to do the same. This is the financial market, there will be winners and losers, we should accept it if we lose, don't blame others.

The only takeaway from my crypto journey is that the investor needs to be keen while selecting a project. We need to keep aside the positive points presented by the company while marketing their project and to investigate the reciprocals by ourselves so, that we don't get trapped.    

It needs to be pointed out that the majority of altcoins that scam their investors do not become scams, they were scams from the beginning, the people that were behind them never had any intention of actually developing a coin which could become successful.

The whole idea was to enrich themselves and try to maintain the charade for as long as possible just to make even more money while they can, and unfortunately despite the scam being so obvious there are still many newbies that fall for it and lose their money.

Almost all coins in this market of cryptocurrencies are at risk except for one Bitcoin. Bitcoin is decentralized and all other coins that exist are centralized. They can scam the cryptocurrency any time after building up the hype in various ways. There are many such examples. In recent times FTX not only destroy investors life but also many others altcoins in its history including Luna Crash. So investors should be well researched when they want to invest any altcoins. As it is a risky market, an investor should venture with risk.

Bitcoin is the prime choice for long-term investment. Altcoins are the way to make profits in the short term. Altcoins are more risky than Bitcoin. Learn more about the project itself before investing in the altcoins you see. Don't be fooled by "surfaces". Many altcoin projects are scams. Don't trust strangers easily. No one wants others to be luckier and richer than themselves.

That was the case during the bull market, unfortunately hundreds of projects managed to attract the crowd then died slowly like NFTs projects or suddenly like Luna and FTT.
According to Coingecko, the popular Cryptocurrencies prices tracking website, 40% of the coins that were listed in 2021 are now dead, and that's measured by many factors like trading volume in the last two months, or news revealing a scam project, or even a self request from a project owner to deactivate the tracking.
This happened before and will continue to happen as long as the market still unregulated yet I believe people have now more resources than before to spot a scam project.

People have seen the wave in altcoins and they want to invest shortly and go away afterward when they've made a profit. That can't be helped and changed because that's how they perceive the market.
It's true that many of them are scams and those type of investors are prone to it no matter what they try to achieve and the way they pick their altcoins to invest, that's just going to hit them hard later on when the altcoin they've invested is unknown and runs away.

Yes, the team is very important, and the economic model of the project is even more important. Times create heroes, and projects that get opportunities must follow the trend.
But there are a lot of liars with luxurious packaging, and it is necessary to study carefully whether there are any flaws in all aspects of them.

Not just in alts, this also applies to every decision and every investment you make. Investing in altcoin, especially newly created project needs deep research. Those are high-risk, high-reward investments. It's the same in the ICO era, abandoning the project once they profited from it until now in NFT and the sad reality is it will always be even in the future.

Most of these new projects now are hyped and it was really tempting because of the high rewards but later on, they'll turn into scams and run all the money from their investors. Sometimes they create dramas in order not to take all the blame. Now, it was really hard to invest trust in newly created projects and I feel that we're getting worse as more and more new projects come without a working product to support their platform.
If this situation will continue, not to wonder why there is a declining growth of altcoins investors than Bitcoin.

For me, altcoins are just a place to look for quick profits, we cannot expect any future development or they will be used in real life like what the developers did promise. The altcoin market has been growing for more than 10 years so far, and no project has been put into practice, all technology is on paper. So don't believe what they promise, all they want is money, leave them before they hurt you. Altcoins will never cease to be attractive, as long as there are hyped projects, they will always attract investors.

This is basically the correct way to approach the new coins. I mean if they just tell you that they will bring you some rocks from mars, would you really believe it? Obviously anyone who can do that would be already in big business, so do not believe the people who promise you the worlds. It's better to understand that we should not be focusing on anything that crypto world would do, it's going to be a bit of a trouble if you believe everything everyone says.

We should be comparing the world of crypto with stock world and that means it's not going to be always up, and not going to be always down, it's going to be in circles and that will be great for everyone.

It is very important to not be fooled by the image that the scammers are trying to sell, scammers are very good at emulating good projects as not only they steal their image but they even steal their white paper and just change a few things here and there so their project looks to be a legitimate one.

However if you really do your due diligence you will see a few cracks on their facade, and you must never ignore them as those cracks should be enough of a read flag for you to ignore that project, however we need to also be honest and say there are some scams that are incredibly obvious, like those which offer a huge return on your investment, and yet those projects still gather millions of dollars from investors all the time.

Because almost most altcoins are just shitcoins and scams. And those are often seen in IEOs, ICOs, IDOs, and others, so the community here in the crypto industry is cautious. Although, sometimes there are altcoins that can provide profit in the short term.

Perhaps this is one of the reasons why many gamble with this belief that they shouldn't, then end up crying when no profit returns to their capital.

Some people said this industrial magic coin, and “money perspective” shifting pretty fast, most of retail dont know dev/marketing lying about their project, some yield farming, play to earn, and many things, releasing money as peoples thoughts that was money, but NO, they just release token from thin air lol, just like your mine bitcoin, base reward (meaning this not money) + fee transaction (this was real money) or real economics

It can't be denied that most of the altcoins are worthless in the real world of crypto but as we can see, many people are still looking for altcoins. Maybe it is because some of them are worth investing in and also ideal for long-term investment.
It was wrong if we consider investing as gambling unless we invest blindly and really have no intention to make a profit.
People had lose their money from investing altcoins because they are investing the wrong coins.

It's not easy to find potential altcoins, it takes a lot of time to do research first,
especially with the current conditions which are bearish we also have to be patient,
The important thing is to always be careful before investing

I feel like the best chance for an altcoin to organically and "truthfully" grow within the realms of its (tech) ideology is to get picked up by a (non-crypto) legitimate project that sees it expanding its goals.

Other than that, if you filter away the non-honest altcoin projects that want to make it on their own, It's probably something along the line of the startup scene, one in ten will probably have some kind of perceived success.

There are so many ways to tell if the devs are lying or if the project looks shady. The most common one would be if they promise that their project can give the investors a huge return for their money after a short period of time but unfortunately there are still a few who are hard to detect. They look so real and we will only be shocked that they have collapsed one day. This is the reason why the OP said that we should be very careful with alts.

Even if we say that they are a top alt as so many top alt before have also turned into a scam. One of it is the late luna. If we can't afford to lose big money then much better if we will just stick on the main coin. That will be none other than bitcoin.

More and more regulations are coming for the blockchain in 2023. Until now, blockchain made its name heard and the next important thing for its progress is to catch up with regulations and provide compliance. Yes, blockchain is decentralized but still the people behind projects should be backed by trusted organisations.

We should avoid big promises (they are left behind), get too caught up in the hype and cut our losses whenever the company shows unwanted signs and go with the trusted projects. Also, we should seek compliance and small but regular progress that focuses on the function of the services.

Yes, that's why traders need to be careful with such altcoins in the market because is not advisable to invest in a projects that will not bring good result in the future. Some traders that invested huge amount of capital on a particular project without Carry out research to know if the project will fail in the future or not before investing, make many to experienced losses at the end of the project. If you can make Ethereum your choice in this season of bearish, I think it will bring more opportunities that will make you to improve in profits making in the community.

Many well-known altcoins did not survive this winter. Altcoins are all about making money. Many technologies cannot support hacking attacks. But when we invest, we still think about choosing to invest in altcoins. Because altcoins can bring us considerable profits in the short term. Bitcoin can only be used as a store of value. I believe in Bitcoin like I believe in gold. Therefore, more considerations will be made when investing in altcoins. Caution is necessary. Your money only you know the loss or profit.

I will add another reason to stay away from (most of) the altcoins and thats they are ponzi based
and they are here just to make money for themselves and nothing else. The only alts that have
been worth it are still alive since many years, getting increased volume everyday and thus
having more stake based economy as well. They are some real deals. However, by now
everyone should know the difference between which one is scam and which one is legit. Crypto
has already taught us so many lessons and shown so many types of scams that its far more
easier to know whose the scammer and whose gonna stand out of the crowd after release. In
the initial days, everything was fresh and the market was underestimated. Everyone used to
think that this alt is the next bitcoin so they used to jump into every alt thats coming out. I think
we learnt the lesson now and its time we do not go and buy every alt that is on the market.

There is one thing we have to do upon investing altcoins and that is to put money in a trusted coin, not a new project or it has no working platform.
If we carry this kind of mindset, I think everyone is safe from getting scammed. But unfortunately, it never works like that as greedy people easily got tempted by new projects who promise big rewards. If could manage to control this thing (greed) I could really imagine that these worthless projects will die and nothing will come anymore.

That is 100% something I can get behind. I could even see people investing into shitcoin that has been around for a long time compared to something that promises the worlds but have nothing right now. Look at doge, it is a shitcoin in its nature and has always been like that, but it has been around for 10 years and people loved it and it grew eventually.

I would never invest into doge ever, but if I was forced to, I would pick doge over a new coin that promises everything, because I know promising is free, doing it is the hard part and how would I know they would actually do it. It's smart to invest into trusted big marketcap coins with many years behind it.

There are indeed altcoins that have real value and are profitable, but most altcoins are scams. The project party will always exaggerate and give false hopes to investors to attract and gain their trust. Entering the altcoin market is best to pick projects with a lot of experience and careful research.

Most alt coin is just pump and dump scam
find one with real utility that give solution to a problem. with real demand and market

My opinion is not because the crypto world is unregulated but because most of those who enter the crypto world only focus on profits rather than gaining knowledge to be able to ignore projects that are completely useless and also projects that are only created to deceive investors from the start but sometimes clear signs do not provide awareness to investors because of the large profits that will be achieved.
Indeed, it is impossible to be in the crypto world to invest in it without targeting profit, but increasingly aware of the form of fraud and also the importance of the idea of a new project appearing it should also be a warning for us to invest or not in it.

That's true and basically we can get profit from working whatever it is so what makes it different is our effort and knowledge,
in crypto, whether it's investing or trading, you definitely need to have knowledge and skills, so that's what determines whether we get big or small profits.

It was a very wild altcoin market, which never existed before. People invested in everything, not really knowing what the project was about, its tokenomics, or the white paper. There was a fantastic amount of scam. I am sure that many people still have mountains of garbage in their wallets in the form of ICO tokens from 2017-2018, which they spent their time to get, but in the end these tokens never launched anywhere and their value has remained zero.

Many altcoins take advantage of people's greed, and the high-return returns make people chase wildly. The result is being lied to. What is even more sad is that many altcoin projects do not survive for more than 24 hours, which causes many users to have no time to think and track, and the project party disappears, and many of them are anonymous projects. This requires everyone to put away your greed, improve your cognition, and don't follow blindly.

Many altcoins are based on scams, they appear only to make money for themselves. Many projects have seized on investors' greed for profit and raised funds for their own interests, rather than for the development of the project and the interests of investors.

The pump and dump scheme most altcoins are based on, is a kind of ponzi scheme which rewards the first buyers and gets the money from the late ones. Every new hype in crypto world has this as consequence: ICOs, NFTs, memecoins... And unfortunatelly I think people didn't learn the lesson, because they are still looking for the next bitcoin, instead of investing in bitcoin, because they aren't satisfied with the potential profit btc can generate. Investors are blind by their own greed, aiming unrealistic goals to grow few pennies into thousands or few thousands into millions overnight. It still seems it's going to take a long time until crypto enthusiasts get aware of the risks surrounding them.

With more and more new projects appearing in the crypto market, it is difficult to find altcoins that are trustworthy and have valuable potential. Most altcoins in existence are scam projects, and there are many reasons to be wary of altcoins. Invest in Bitcoin where possible to protect funds and reduce losses from altcoins.

That is what the scheme is and the old users like me know how such scams run under the convenient cover of anonymity that bitcoin and the internet has to provide them with. The ones who fall for these scams are mostly the newbies who seeing the price of bitcoin cannot afford to buy whole number of bitcoins and end up buying thousands of shitcoins that are worth the same but will surely drop to zero in a few months.

Point is that there will be successful altcoins that reach near to what bitcoin has been but these are rare and they will rarely be picked up unless you are getting lucky. Every team seems to be working hard but below the table you never can be sure. Hence keeping bitcoin as the max investment yields the safer portfolio.

no doubt people who have been in crypto for a long time or have been here a long time are aware of such scams and they would just prefer to keep safer bitcoins and a few altcoins that have been around for a long time and have a good reputation.

for cases of beginners, they are often deceived because they are inspired by several altcoins that have soared like shitcoins, memecoins like Shiba Inu and Dogecoin. so they only see if all crypto will go up high later but without seeing how big the risk is. indeed choosing for the long term is good but a little bad if holding altcoins, especially if new altcoins.
so all the old folks who have been in crypto always recommend holding bitcoins. Even though the price is high, that's not an excuse, but we can buy it using the DCA method of collecting it until it becomes a lot.

Scams are getting a lot more sophisticated as well, there is a chance that we could end up with something that is a lot worse in the size of it but a lot better in the quality and still scam people. I have to say it's not an easy thing to handle and it would be a tough sell.

I just need to make sure that I get my hands away from those good looking new stuff because they are just a facade and nothing more. If you want to make money, stay clear out of them and focus on the old ones that has a future and could go up a lot with the bull run, that's how I make my money so far. I know it's going to take a while but it is a good way of making money for sure.

Whether it is the encryption industry or other investment markets, there will be scams. People always pay the price for their greed. A lot of scam projects in altcoins don't survive more than three months because they scam you out of your money early on. You may make a profit in the early stage, but when you start to be greedy, that is the beginning of their deception. Therefore, the investment project "time" can be used as a criterion for judging.

Because most scammers use alts to prey on the crypto community. But, I'll just clarify that not all altcoins are bad investments, that's not what it means.

   You can't just stop others and yourself from investing in alts, you or we must also know that there is a high risk involved in putting our money into it, so that even if something bad happens, you know and you are ready for the consequences too.

Altcoins can bring huge profits in the short term. But now that there are more and more new altcoins in the crypto market, it is difficult to find trustworthy altcoins. Many projects are for their own interests. When investors are too greedy, the project may slowly disappear, and investors will lose a lot of money from it.

Why one shouldn't trust all altcoins is that most of these altcoins are being fronted by scammers. They float these projects, lure investors and they pack up afterwards. One just has to be very careful.

Of course what you mentioned about Alts is true, but not all altcoins are built that way, there are also altcoins that are built and grow with many use cases so that they become altcoins that can dominate the market. Some projects are developed only for the purpose of deceiving investors so I don't think they will last long. but if the project is developed for the advancement of Blockchain technology then I think that is the project that needs to be fully supported

One can just avoid dabbing in altcoins completely. That way one can avoid getting scammed by these methods. Or they could learn properly how these scams operate and then use that knowledge to inform others.

Generally speaking they take advantage of the anonymous nature of crypto and they don't have the morals that legitimate humans have. So do your research but you can assume that the project will fail and you will lose your money. I still consider a loss to be a loss and not that it was money I could spare - Nope, money is never spared. I would rather invest in other asset classes.

One of the major set back of layer 2 network is that, it allow smart contract duplication and multiple chain development and their success was then aided with the ethereum blockchain which allow the external collaboration from various chains.
- This chain has created room for several project development and various types in the market, the majority of them are now scams, dead projects and what have you.
- we have seen so much hype that rides the cryptocurrency market at various times since after the 2017 altcoin boom that opens up the altcoin market to the rest of the world, the development has led to various hype such as ICO IEO Difi NFTs and the rest.
-some times I stop to think of it that the altcoin markethasdonee more harm than good to the young growing cryptocurrency industry.