Bitcoin Forum

Could the entire crypto market ever be a scam?
How much faith do you have about the crypto world?

Can I confidently choose Crypto World to safely store all my hard earned wealth?
Like the bank?

With the road map Its almost impossible for bitcoin to be a scam but other altcoins is something i can't testify for because of their centralisation.

Although bitcoin is even safer to store your fund thank banks because it hedges against inflation and also a store of value. But it is very risk to have all your wealth in crypto currency because of its volatility. With the volatility its is advise to have some emergency funds stored in fiat.

• Yes, with the exception of Bitcoin,

• I don't have any faith at all in the crypto market; you do not trust, you only verify. If there are loopholes or flaws which make verifying difficult, the avoid such coin or token.

You are confident in the bank? Why then do you need an alternative?

There are some individual cryptocurrencies or blockchain-based projects that are scams, but it is unlikely that the entire cryptocurrency market could ever be considered a scam. Investing in cryptocurrencies carries with it some inherent risks, but so do many other forms of investments. Ultimately, before deciding whether or not an investor is ready to take the plunge and begin investing in cryptocurrencies, researching and educating yourself on the market should be the first step. And, perhaps equally important, make sure you understand these risks and take only as much risk as is appropriate for your portfolio and risk level.

The entire crypto market is not a scam, but there may exist some scam and dubious projects in crypto. I have some faith in cryptocurrency, but I still exercise care with my investment in it.

 Storing al your hard earned wealth in crypto means that the amount you are investing is an amount that will hurt you badly if it gets lost, that is not advisable, you are always told to put an amount in crypto that you can afford to loose, not your entire hard earned wealth that you have accumulated.

No, unless bitcoin turns out to be one ( impossible though).

I believe its a tool to fight against the controlled system we are trapped in currently.

Yes but for the sake of your financial security its not really a smart decision because the nature of cryptocurrency is highly volatile so invest on other assets as well apart from cryptocurrency.

Any closed sourced coin has the potential to be a scam despite functioning perfectly for a long time. Any project could turn out to be a scam or at the very least a failure. Remember, that a project failure isn't the same as a scam. The problem we have today is the people behind the projects, seem to promise the world.

If you've got someone promising you all these features, and targets then you're likely to be disappointed. Even with Bitcoin, no one can promise you a thing.

However, as for the question I'm not worried about Bitcoin in the slightest in terms of scam. It's already been read line by line, and isn't controlled by a central figure. Whether or not Bitcoin is leveraged to scam people entirely depends on who uses Bitcoin.

What roadmap are you referring too exactly?

Nope not advisable to risk your hard earned money maybe an excess fund that can be spare for risk investment its fine. We dont know what would be the market situation but if you are ready for such risk then its time for buying some potential coin/tokens.

You cant be sure of crypto rather than bank because its quite risky.

I don't think any bitcoin expert will suggest investing all of your hard-earned money in cryptocurrencies because there are risks involved. Nobody can predict what the market will do, particularly in terms of its current state. However, you cannot simply have complete confidence in something unless you start using it and gain experience with it. For me, cryptocurrency is a better place to store my value because I understand how it operates and am aware of the risks it entails. You will therefore get experience from your investment, and you may use that to gauge how secure the storage value in cryptocurrencies is. However, I caution you against investing in any coins other than Bitcoin, because other coins may not be safe like Bitcoin. I will like you to do more research I know about blockchain and Bitcoin before you invest in it.

No the entire crypto is not a scam,btc is the only one that is best and reliable,the rest altcoins are waste of time and a scam to the cryptosystem. Investing on btc is a good one but not putting all your hard earned money into it is not a good idea because btc is volatile in nature,you might be disappointed when btc price go dip. Always invest with your extra money so that if the market didn't go as expected, you will not regret it.

Scams are everywhere, be it in fiat or crypto. But talking about the entire crypto market as a scam, I don’t think it is. Because if it’s a scam, no one might have experienced big changes in their lives because of crypto. Although some are scams, but rest assured bitcoin is very legit and real. Altcoins may fall into scams in the end, and the rest of shitcoins and meme coins, but with bitcoin, it will remain legit and reliable because history has proven it, and no scam that will last and survive for a decade still standing in the end.

Well the market itself ain't a scam, just those coins that are inside of it. With Bitcoin though, surely those 14 years of its existence proved already that it is not like those new coins/shit tokens you see in the market every day. I do not invest all of my money in Bitcoin, because surely I need to use fiat to get my basic stuffs but I got to be honest that my whole 5 years of holding/selling Bitcoin were not all just a waste of time.

If other comments here above me were not more convincing, I do not know what will.

We must determine the allocation to invest in crypto, so not all of the funds are owned but partly to invest in the future, but for every beginner it is highly recommended to choose Bitcoin investment because many beginners choose other coins that are cheap for the purpose of doubling their investment but they are not aware of the risks higher than a centralized project.

I believe everything is a scam, only with the exception of bitcoin. But even so, it’s still very risky to convert all your fiat into bitcoin and keep it all into crypto. Aside from its being impractical, bitcoin is still not a legal tender that you can use it anytime anywhere. I must say it’s a must to have bitcoins as our investments and for our future pensions, but we need to also save some fiat so that we can still cater to all our basic commodities and services that can only be purchase with fiat.

We would all agree that there some bad eggs in the market but the entire market cannot be a scam, there are still genuine projects out there

Crypto is the next big thing and has the potential to change the way we do things. So, I would say that I have faith in crypto, there might be ups and downs, bearish and bullish seasons but crypto has come to stay.


No... Never put all your money in crypto. But if you're investing, I would advice you buy Bitcoin and hodl especially now that we are in the bear market and when we enter the next bull season you would have definitely made some good profits.

Choose bitcoin if you want to and not just any cryptocurrency to avoid what your fears are. The fear of the unknown is really to be upheld in cryptocurrency investment. Don't invest without proper investigation, bitcoin is decentralised and can't be manipulated like some other coins so if you invest in it, you can only have reduced value in price during bear market but you will recover during bull but you are sure no exchange will delist bitcoin. Some altcoins are being delisted from exchanges because of lack of volume and no use case.

Will you have to wait till the entire crypto got you scammed or knocked off because you realize about the recent scam going around with many shitcoins, aren't this examples enough to learn from, the entire crypto market may not scam or end up at the same time but each one will in due time shows all they were made of just as the ones going down already and the ones that has been closed down.


Even a mustard seed a too big to have faith in the entire crypto except for few like bitcoin, it's not by believe but by nature of what they are, shitcoins are very common now and they constitute thousands of cryptos we have in the economy of digital currency.


Yes only for bitcoin in which i wont suggest the entire life savings as well, make diversification on other asset or means of investment but am not recommending altcoins in this regard


No

Just focus on bitcoin, for sure it’s real and legit. No need to consider the entire crypto market as most of the new coins arising are scams. But investing all our hard earned money into bitcoin, I think that is very risky and I don’t have plans to do it either. I know how volatile bitcoin is, I could make millions in just a day but I could also lose them in an instant when market condition suddenly turns bad and everything goes into zero value.

Cryptocurrencies are based on blockchain technology, which is a decentralized and secure way of storing and transferring data. Many cryptocurrency projects have strong communities and transparent development processes, which adds to their credibility. Additionally, the market for cryptocurrencies is highly competitive, with many different projects vying for attention and adoption. It is unlikely that all of these projects would be able to sustain a scam for a long period of time without being detected, and this is especially true in the case of Bitcoin. The Bitcoin community is also very large and active, with many people monitoring the project and its developers. Any major changes to the Bitcoin protocol are highly publicized, and any suspicious activity would be quickly noticed by the community. The chances of a scam being successful are extremely low, and Bitcoin has been running for over 12 years now without any major issues.

You may see it as scam only if you don't know what you are doing by entering the market with no understanding to make quick money. If you understand the market, trade or invest in the right coin such as bitcoin, have patience then you will realise how real the market is.

You cant store all your earnings in crypto like the bank because crypto is volatile and from time to time you will need morning for financial needs. You can only trade or invest crypto and you don't need to put all your wealth.

Bitcoin is not a scam, and Bitcoin is the coin with the largest share of marketcap.


There are other coins that are highly unlikely to be a scam. But that alone doesn't make them good investments. And also there's no such thing as "safe" crypto investment, because all crypto is highly volatile, has unclear fundamentals, problems with adoption, regulations etc.

I don't think that entire crypto is a scam. There are many scam projects or investments in the crypto world. But it doesn't mean that the entire crypto world is a scam. If the entire is a scam, it means that Bitcoin is also a scam. It is not.

We cannot deny that many scams in the crypto world. But we also still have many legit projects especially Bitcoin, and some trusted altcoins. Although nobody guarantees that they will not turn out to be scammed. But at least, I still believe in crypto (certain crypto) so far. How much do I believe? I believe it as much as I am here since 2017 in the crypto world. But, it is not enough with only trust. we must be smart and careful when investing in crypto because crypto is high risk. So we must be careful in what cryptos we will invest in and how to invest carefully.

If you're referring to altcoins then probably they're most likely scam.
Most altcoins were created just for the benefits of the creator nothing excess though they're still a few of them that still has good utility but most of them a shitty. So if you're considering only them aside from Bitcoin then I have no issue with it at all.


I won't advice anyone to pour his/her hard earned money into crypto. Only invest money that you can afford to lose, you never can tell what will happen to the market tomorrow, the market might be looking great today but can turn to a nightmare overnight.

From dictionary.com
You'd only ever consider the entire crypto scene a scam if you ever tried to enter it without knowing anything. There are some crypto projects that are scams, obviously, just like any other industry (but more rampant here I guess), but that doesn't mean that the entire place is a scam, especially if you consider the biggest name in here which is Bitcoin. Wouldn't conside that a scam since "scamming" would require someone to be on the "opposite" party, Bitcoin doesn't have that, but other projects do.

No, not really. The place is highly volatile, I don't think you should invest everything in it. Maybe a part of it, one that you're willing not to spend for a long time, specifically investing it on Bitcoin.

This is exactly what regulators are striving for now, which has put spokes in the wheels for the development of the crypto industry. Sow panic and debunk the hopes of investors, thereby proving that banks are still the only protection for clients' assets.
Stories of the collapse of exchanges and various attacks on Binance play into the hands of regulators. Involuntarily, thoughts arise that all events were pre-planned.
Despite this, many people who have been through difficult times continue to believe in Bitcoin. Trusting other cryptocurrencies, except for Bitcoin, of course, is a thankless task. Now is not the best time to take rash risks.

At least we have Bitcoin, if all other crypto projects turned scam one day Bitcoin will probably be the only one standing still, but right now crypto projects are gearing up with ISO***** which will easily open a pass way for massive payment option in future.

My advice for you is to always treat crypto investment as a risk one, do not put all your eggs in one basket and also make sure that BTC is one of the coins you have in your holdings.

It would be too ironic if I will say that all altcoins are a scam because I'm holding some altcoins too. I will just say that altcoins are more likely to be a scam than Bitcoin is.
Faith? I don't have at all.

Crypto world? Safely Store? Hard-earned Wealth?
You know that crypto is more volatile right than other assets, right?

Crypto world isn't bank and don't consider crypto as an alternative. If you are a conservative investor, just put your money into bonds or just put it into bank if you want your money to devalue because of inflation. You also said, "hard-earned wealth". Are you ready if the worst thing happens to your hard-earned wealth? If it goes down 60-70% or even more, are you ready for it? Will you not panic? If yes, then put it, but it isn't recommended. I don't want to put all of my wealth into crypto.

I am certain that the cryptocurrency market is genuine. However, this does not mean that there are no dubious projects or coins, as there are in conventional fiat investments and projects. To begin, you should stick to bitcoin and research the top 100 coins.

I would say that I currently have 80% invested in cryptocurrency. Centralized wallets and exchanges, like banks, are susceptible to closure and bankruptcy. Always keep in mind that it is not your coin unless you hold the keys.

If a scam for all Altcoins is impossible. But there are unscrupulous coins who are scams, it really depends on the developer. But like bitcoin, etherium and bnb I don't think so.
we can see Why altcoins go with Bitcoin in price. Even though each altcoin has its own fundamentals.

I can feel how you feel, crypto is a risky asset. So the point is if crypto really gets big profits why should we be greedy. you can buy some of the money you have in crypto for an amount ready in case it is lost.

The entire crypto industry cannot be a scam. We have bitcoin and other well-known cryptocurrencies that have established themselves as legitimate investments. I do not fully trust the crypto industry.
Don't try that, to avoid stories that touch the heart. It is not wise to invest your hard-earned money in the risky realm of crypto. Invest only the amount in cryptocurrency that you can afford to lose gladly without breaking down in tears.

Your questions sound somehow new to me and I know this is the kind of questions most people used to ask me when they hear about cryptocurrency for the first time. Most persons can be skeptical on how the market moves and sometimes they tend to ask questions about whether the cryptocurrency market can be hacked or not. I think op need to read some books and PDF about the crypto market and Bitcoin entirely so that he can have some ideas on how the market do works and operate.

There are some newbies too who had been pondering on this kimd of questions on how the crypto market works but they can get accurate explanation if they can read some posts here about Bitcoin and cryptocurrency market.

I like the idea of the OP not mentioning bitcoin but cryptocurrency. It gave a wider range of discussion and understanding. I find the growth of stable coin a massive backup for the space. The stable coin by BUSD and USDT is back up by fiat in dollar by American bank and treasury bill.

Yeah, just invest into Bitcoin and forget about that you invested to it and surely you'll be surprised that one day, you could just cash it out for millions in USD depending on where you live. Researching for coins out there is already a pain in the ass and a true headache. It is like another full-time job that you need to do even if you're intended to do it just a part investment and end up being disappointed because you were deceived by paid reviews/shills.

This was at least my learnings back in 2018.

I have a lot of faith in bitcoin as the creator of the entire cryptocurrency world. If he believed in it and it has thrived up to this point, I have no objection to it surpassing its current state in the future.


Cryptocurrency is just an alternative to store money just like your local fiat bank. Because of its nature of volatility, it’s advisable not to keep all your wealth there. You could store or invest some in it in order to gain the benefit in the long run. Only invest what you’re willing to lose or rather you leave the investment aspect of it.

personally,q I have something near the 0 as trust in crypto world. I don't trust other crypto project... in the long term these will run to have a meaningless value, and only few projects (maybe) could survive.
Its completely different if we are talking about bitcoin because I have trust in bitcoin and in the blockchain related to bitcoin.

I think people can store their wealth in bitcoin but only at condition they understand what is it this technology, how it works and what is the advantage/disadvantage of a solution like this.

Bitcoin is a good investment but knowing how risky it is, it would be wiser to just invest on the amount you can afford to lose. No matter how profitable it is, I don’t still see any guarantee that bitcoin is a secure investment, more especially for altcoins as most of them particularly those newly built projects are only good for short term duration, and after that most of them end up as scams.

There is no guarantee that they are not a scam. but I still believe that the entire crypto market is a scam. There are several trusted platforms that already have a sustainable reputation. However, because there are no guarantees, we must always be vigilant with the worst possibilities one day. In this case, we must have several strategies that can at least be used in normal times, worsening conditions, and worst situations. Because this is indeed our choice to be in the crypto business, so we must be prepared for all the risks. However, if we are able to take a loyal chance at the right time, this crypto business is really tempting and worth fighting for.

Yah. Everything could be a scam, even long lasting businesses could regardless of how legit they were at the start. It's just more prevalent in crypto since a lot of people are new to it, or are beginners in terms of understanding what and what is not a scam, so it's much more obvious. I don't have any faith in the crypto world, I have faith in the fact that my Bitcoin are safe in my hardware wallet instead.

I'd honestly avoid crypto to put your wealth in, it's volatile, risky, it's an investment that you go to when you're ready to lose whatever you put in. There's probably a lot more other investments out there that are relatively safer. Ofc profits drop off but that's the payment for being safer compared to crypto.

A lot and I feel crypto is here to stay but then again there is nothing surefire in the world. What then? I'd just tell myself we had a good ride.


No. Your funds security depends upon you unlike traditional finance where bank holds money for you.

1. How can be the entire crypto market be a scam if there's a use case mostly now for bitcoin and other considered altcoins. Huge institutions have invested coming from millions to billions of dollars and yet, you're thinking that it might be a scam.

Well, there goes the projects that really are scams but not the entirety of the crypto market.

2. I have 100% faith on this market and mainly for bitcoin.

3. Choose a crypto first where you're going to store your hard earned money but the best option is, bitcoin.

If someone is just telling that crypto currency is a scam, because of the up and down price, then they are missing something they are just not coin in the blockchain they have usage in the crypto environment, each of them has functions , you really need to dig dipper into blockchains, if you really want to understand them.

Only bitcoin is the only cryptocurrency that we can fully trust because so far bitcoin has proven to be able to survive in any situation, but even though we trust bitcoin it does not mean that investing in bitcoin has no risk because basically bitcoin price movements are very volatile so there is a possibility that we will experience a loss if You are not investing properly my advice you should reconsider your plan carefully to put all the funds you have into bitcoins and understand about the risks.

Cryptocurrency market is legit and genuine of course, but there is no guarantee that all coins in the market are promising and will end up highly profitable. Even those who are considered top altcoins in the market, there are still probability that they will be gone suddenly in the market and lost their value just like a thin air. That’s the reason why we should trust more bitcoin and prioritize it over altcoins. Bitcoin will never be a scam, even if a lot of failed accusations that bitcoin is indirectly involved in a scam.

Your money in the bank, are you confidently sure that it is safe?
I mean money that you don't see;
Money you don't hold;
Money you need to sign your signature before you withdraw;
Money that bank can freeze and tell you some regulatory stories;
If you can trust bank to be 100% safe, something you don't control, it then means that bitcoin is a heaven because you will be your own bank.
How do you see that?
Or do you trust the bank more than yourself?

Probably, people are more blinded by banks and they think it’s way safer than any other, including cryptocurrency. But if they will look at it deeply, with bitcoin which is giving us freedom to manage our own funds, that is way more safe and secured than entrusting banks our hard earned money and let them take advantage on it. But I guess, only bitcoin enthusiasts would only know that, and the rest are still bank fanatics.