Things why a person can easily get scammed in crypto-world
1. Greed
2. No knowledge about the project
3. Trust
This are the three main reason why they get easily scam
Greed, because there are a lot of promise by the campaign and the developer we easily believe that its true
investing a lot of money in the project that is garbage.
No knowledge also is the second reason because of the trend they just go and invest without any knowledge of the said project
Trust because they trust the people in the project which sometimes pretends that the person is a member of the project
they can easily decieved that once they invest , they will soon find out that the person is just impersonating , and not really
what all expected.
I agree with you. Many people think that crypto is easy money so they get easily persuaded to invest without a slight idea if the project is legit or not. Just ride on to the hype hoping to gain a lot from it. You can add to that that scammers are getting more creative in the way they create scams. |
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With blockchain data can be stored in a decentralized public book.
With cryptocurrency, we can make anonymous transactions without centralized intervention.
If you add speed and spread to the public, then the future is cryptocurrency.
How do you think?
This is the main reason why cryptocurrencies were created. Decentralization of transactions without the intervention of banks and other financial entities that normally takes a good portion of your money through high transaction fees and process delays. Crypto will be a solution to this problems |
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yes, definitely this is a scam. I have been emailed also by such entity and blackmailed me to deposit a certain amount of crypto else they are going to share with the public sensitive information about me. It is obvious that it is a scam so I ignore the mail. It is a shame that such people would do such a thing in expense of damaging others.
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Late 2017 and early 2018 i was holding lots of coins and tokens from the ico's in that some i really trusted with solution and team (not only me most of crypto community trusted). Now this coins or token became nothing . But some projects i entered to sell for small margin profit these projects given profit . So holding token or coin for long term is meaningless.
I can relate to you on this. My crypto wallets right now are full of coins that were once very promising cryptos. Maybe it is my weakness that I hold on to these coins and their projects that eventually were dumped in the market. Having learned my mistakes, I ventured into trading. and slowing I somewhat regained some of the value I lost. |
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I have quite a lot of old coins that I have been holding right now. The majority of these I got from airdrops and bounty way before the bullring. Hoping that their prices would pump. Some have very minimal value and some even don't have value anymore. I have Hydro which was a huge hype before and many more.
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There are many sites and crypto reviews that offer a lot of recommendations about crypto to invest. But don't trust your investment from the suggestions of others but instead, gather as much information and rely on your own research about the potential of a project and its ecosystem. There are so many coin out there, Please what do I look out for to make a good choice for investment into any of the coin.
Please be sincere.
Thanks
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Warning strictly for Newbies!!!Do not ever try or think about getting loan or borrowing money to trade altcoins or invest, the damage will be so disastrous, many did this mistake in 2017 when all crypto coins are booming but I can tell you that until today they are still in heavy debt, losing your hard-earned money is better than losing loan money, imagine the frustrations  Crypto investment is a high risk investment plan and they only way to get by is investing only what you can afford to lose... take my advise and let it sink in your head. I think it is important not just in crypto trading but in all others aspects of trading to know first how the market works before thinking of investing in it. The crypto market is so unpredictable and volatile that it will cause you to lose your hard earn money if you don't know how to trade. You much first learn and acquire a bit of confidence before trading. |
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Nice observation about how traders behave. You hit the right understanding on how traders act when trading. In the current situation and unpredictability nature of the crypto market, indeed discipline and patience are ingredients to make one a suv=ccessful trader. I would add that experience would eventually make you before confident when trading.
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Indeed, sometimes bounty hunters help market scam projects because they forget to research properly if the project is legitimate or not. I also fall victim before to scam project when I was new to bounty hunting but eventually learn to research well about the project I join.
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Is high rewards like 350,000$ for bounty hunters still possible this days? I know it's all down to the success of the project but is this still achievable? How many successful projects with such reward paid hunters since 2018 that you know?
If you look at bounty campaigns posted in the bounty section, you would see a lot of projects showing bounty budgets more than $350,000. But sometimes I doubt if these allotted budgets are really distributed to participants. But unfortunately, most of these bounty campaigns are tied up to the development of the project. Sometimes if the project doesn't take off, bounty participants never get their rewards. |
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Indeed these type of crypto activities does give a big reward for participants, but unfortunately only a few have the technical skills to carry out those tasks. many hunters prefer only airdrops and bounties because of the fewer efforts and easy tasks to perform. Although lesser rewards due to many participants. The biggest money making slot in crypto space is to be
1. a developer
2. build crypto wallets for new projects
3. find bugs in the system of many new projects
yes some paid for security breaching and all that stuff, rendering professional services is the best way to make money in crypto space now
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Many people belief that the only solution crypto space needed is regulations, what will this solve? The biggest crypto problem is scammers, how can regulations cure this disease? Because regulations can only work on centralized exchanges and projects, what do you think? Drop your thoughts and let's hear you out?
Although regulation is opposite the aim of crypto for decentralization, I think the government puts out this policy to control abuse of projects. It put some sense of order to the industry. But if it controls too much the way the industry flows, it is also bad. Crypto is becoming mainstream that is why scammers are growing also. |
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Ethereum poised to potentially outperform top crypto coins in near future, with the way I'm sensing things it seem ethereum is becoming more bullish by every minutes, here are few questions for you crypto lovers
1. Can Ethereum take over?
2. What will happen after the POS upgrade?
3. How do you see the 32Eth requirements for staking?
Ethereum has a lot going on its platform right now. The impending upgrade to ethereum 2.0 we are seeing bullish pattern in its platform. I don't see it overtaking BTC in the near future yet, but I think it has great potential. I am especially excited about how the crypto world will accept its proof of stake reward mechanism. The 32 eth staking amount is a bit big for me but there are always staking pools that would share part of the staking with you. with that, I think Eth is bullish right now. |
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People don't want to give projects some time to grow, they forget that coins like dash, litecoin, Xmr, Bitcoin etc have a rough start, I'm just saying crypto investment takes years, just because a project drop in value doesn't mean they won't grow better in future.
Projects don't just turn huge in a year, there will be lots of volatility and price loss, for long term hold be prepared, if you can't then go for top coins
I have been holding most of my cryptos for a very long time now. Some of them I got for as long as 2 years hoping that their value would pump. Don't have plans to sell them yet and have been patiently waiting for the time that their price would pump up. I am positive that maybe this year would be the time for it. |
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How do you survive in the current market situation?
If the bounty project is no longer profitable, what do you do now?
I do occasional bounty of projects that I think is legitimate and will eventually distribute rewards. But most of my time is allotted to day trading. Instead of waiting for really profitable bounty campaign, I tried learning how to trade properly and now I got good earnings doing it. |
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My crypto journey has been full of errors and mistakes. But you know what, I learned a lot from it. And I thank that those experiences happened because it made me wise in my crypto activities. I think what is more important is learning from your mistakes and do your best to correct it. So next time you will make the right decision.
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Will you trust a project that the one that announced it in the announcement thread is a legendary member even though the legendary has announced that he is not part of the team and was just part of the service he offered.
Let me know your thoughts here.
I would. I think legendary members will do their best to protect their account from being banned so I think they will not jeopardize it by joining scam project. I am pretty sure they are picky on associating themselves with a project. Especially now that achieving legendary account is very rare. |
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Everybody in our Crypto Community is happy that we are going in right direction with building value of Bitcoin. This is really appreciable how BTC is improving in each single day. No doubt Bitcoin deserve attention of the world due to its features in any means.
But with the bitcoin most of us also trading or Hodling altcoins together in our portfolio which is logical. Most of the time Bitcoin and Altcoin work inversely proportional i mean when bitcoin is moving upward in mean time altcoins start crashing.
But in last bull run jan 2018 we seen every thing was going to the moon. Now i want to know community opinion.
Are we going for a Bull run like 2018, Or this time Bitcoin and altcoins will unleashed separately.
I think we will be experiencing a time again where bitcoin and some altcoins will be bullish together. As always BTC brings with it some top altcoins during its bullish run just like the previous bull run. Im especially bullish on eth these coming days because of its platform upgrade. At the same time if we check history, btc just finish halving and with it always follows a pump. |
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