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Painfully there is nothing that can be done about it. The crypto space is a decentralized one thus no way to locate them, some even go extra miles by using other people's pictures and details so as to present a viable platform. The truth or rather the only way out is by looking behind that whitepaper or website and focus on the team, check them thoroughly to be sure they are who they are. Although it will be hard, but by constant researching we can to an extent curb scam projects.
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The noticeable achievement of crypto since 2018so far are
1. More banks are making use of blockchain tech
2. Binance chain was launched
3. More institutional adoption
4. Hashrate increases
5. Code development
6. More new crypto user
If i could judge this i think crypto is getting more better but with slower pace which is what we need to avoid unnecessary crashes,crypto future looks brighter
You are right mate and it is very much true. Crypto is getting more better with each day it's just that scammers and fraudulent individuals are the one dragging this space back. If only developers can stick to their goals and objectives thus developing what they intially set out to create we would go far. Nevertheless, with blockchain gaining limelight with each passing day, mass adoption will surly come one day. |
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One things I have learnt in this space is not to believe a new coin will kill others when it's not yet developed. There have been many projects out there which once said they will either kill Bitcoin or Ethereum but till date they are yet to achieve their goals. As for Libra I won't say it will kill any altcoin or not until it's developed and we see it in action. Furthermore, with Ethereum being or likened to the king of altcoins I think it will be hard for any altcoin to kill it. |
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There are factors to consider like the required KYC documentation for the chosen bank account and AML stuff. Selfkey would be releasing their bank accounts marketplace though. It seems like it will make the application process more efficient and easy that it can be completed in a matter of minutes. What are your thoughts on this?
There have been many possibilities in the blockchain space already, all that is needed is for the team to have the right knowledge and experience to develop their idea. This is my first time of hearing about Selfkey though and i will take time to study all about them, however am happy a project is taking this step because opening a bank account via blockchain will lead to a more better world one which will remove third-parties, unnecessary charges etc. Although there will be KYC so as to obey regulations but privacy and security of users data will still be assured, all thanks to blockchain. |
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I got this email yesterday from Miracletele admin:
===========================================================================================
CEO has really left the channel because of too much FUD in here, team think he doesn't show a strong behaviour.
Instead of going away he should have continuosly reassured the community about his projects and the future of MT and give clear explainations about slow payouts.
The employees'union decided to go on vacation until 09/15/2019 due to the lack of common sense and logic from Mr Burchik.
========================================================================================
Whats going on with this project? CEO run away and employees going on vacation?
I see this as a flimsy excuse to over their fraudulent activities. To be candid, how can a CEO of a project leave the channel just because of fud? This is unheard of and really shows something is not right. Many projects that grew to be valuable today passed through various fud and came out stronger. Another step that confirmed this looks 99% scam is the other members going on vocation while the investors or community members who are the backbone of every project are grumbling instead of looking for a way to calm and assure them. We should try and look past some of the things these projects throws at us at the beginning and study what lies within. |
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Binance hack happened months ago right and unlike some exchanges that were hacked and closed down, Binance didn't instead it continues growing its platform while bringing more services, therefore I don't see Binance going bankrupt anytime soon.
Also, since you seek more adequate exchanges, you can try the likes of Okex or Gate; I see these exchanges good enough for different crypto activities and with proper upgrades, features etc will surly stand and challenge Binance on the long run.
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A friend of mine who is a holder of ethereum and xrp once told me he has lost confidence in the altcoins because it has nothing to offer and the altcoins always follow the suit of btc. The rate at which it is going down has brought fear to him. And I believe he is not tge only one thinking tge same way. If we are to open a floor for people to share their experiences and thought about altcoins, you will be amazed. But one thing I always tell him and I believe it goes for all those who share the same thought with my friend is that never lose confidence. This is not the first time altcoin market has done this. There is good days ahead and the market shows. I believe this is the time to buy and hodl more of altcoins like eth and xrp. Enjoy it while it last because it may be too late some days ahead.
In a nutshell, never be fooled by the market today. Look at the bigger picture and hodl for the future. Altcoins all tge way. I am for altcoins.
Your friend should understand that he hasn't lost unless he sells lower than he bought. Also, he should understand those two token aren't like others because there is a reason why they have been at that position or rather unbeatable for a long time despite the market conditions. Furthermore, should he try to invest in altcoins again do well to make him understand the volatility of this space as well as making adequate research so as to invest wisely. There are really good altcoins out there if one research cautiously and wisely. |
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Like I anticipated, low volume; this is the primary reason that will cause an exchange to delist any coin. Also, that doesn't mean that with one exchange delisting a coin will lead the downfall of the project, unless that's the only exchange it is listed on.
On the other hand, an exchange delisting a coin or many coins as the case may be will not affect the exchange negatively in anyway as they are trying to maintain their reputation and value which is good for business.
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There are many reason as to why I use different exchanges.
The primary reason for choosing any exchange is either to buy or to sell a particular token either from bounty of which I use most exchange like Kucoin, gate etc. Also another reason for choosing a particular exchange is if the volume is better of than others of which Binance always comes first in most cases.
Then when to comes to trading whereby I have to save my profit on the exchange, I also chose Binance as well because of security and good UI.
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Just like fiat is used in betting in most traditional systems, cryptocurrency is used for same purpose, so does that make fiat a problem? I don't think so, same is with cryptocurrency. If you study the nature of cryptocurrencies now, you will see that in almost all the areas where fiat is used, crypto is used too. Using crypto for betting doesn't endanger or cause problems for the crypto space rather it is being exposing to more users.
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Top 10 or rather just top 20 should be ideal the reason is, most coins in top 100 dropped while others that aren't in top 100 came up. Also, those in top 10 dropped too but didn't dropped from top 20.
Through this it can be seen that coins in top 10 offers a greater chance of profit more than those in the top 100 bracket. Also, another good way is looking at what the coin in question is trying to solve or what it is backed by; this is what adds value to any coin.
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I guess many who started with airdrops have same experience that is, having worthless coins in their wallets. About deleting or hidding coins in MyEtherWallet I don't think I have seen that feature anywhere unless in other wallet applications like the prominent imtoken; maybe one day it will be added to MEW. Let me share with you the direction I took, and that is creating a new wallet.
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The second option of course. If you take a clear look, projects like that do well once they seek for funds because investors already knows what they are getting involved with. I have seen few of them, and they are still developing their products and services.
But the first option, once Public sale ends, comes with series of excuses and before hand they will die off.
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Like you said absence of research, that entirely one of the biggest reasons why they keep making mistakes. From what I have seen, IEOs in major exchanges were successful and those who participated made good returns. Another thing is, these IEOs were good projects or maybe a greater number were good projects. So any investor saying he lost money well, could be he participated in some of IEOs in other exchanges that has no good track record.
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They are newbies or amateurs so what do you expect? I had a friend who sent someone his private keys lucky enough there wasn't any good coin there, so I had to take time to teach him all the things he needs to learn. So instead of seeing them as those who doesn't know anything let's teach them so they can be better.
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Proof of Authentication
Campaigns interested in: Creative, Xwallet and Twitter.
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