Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?
It's difficult to separate bad eggs from good ones, just like how it is hard to distinguish scam ICOs from not. Sometimes it may look too obvious but most of the times, scammers make it appear like it is real. Sadly, we can never control their minds. Maybe this is just how the world works, be it in real or crypto world. There will always be people who want to trick us and our only shield is to scrutinize and review ICOs before we join.
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I agree. But we already knew that the moment we joined the project. Well, that's just how thing works here in crypto world. There is no guarantee that all our investments which include our time and effort will be paid off.
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I think you risked too much. You did not include the pioneer coin in your list. You should have because of all the coins, that will be the last to die. It is the foundation of all coins.
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If possible it will take longer. Cryptocurrency has built a pretty strong foundation through bitcoin and other coins like ethereum. There are some other coins that were created earlier that were doing good. Coins that were created these past years were the ones that made crypto market low. It is possible that it decrease investors' interest but it cannot totally eradicate the whole crypto space.
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Because the market was extremely low in the past years and there were several scam projects in ICO which is why right now investors are becoming hesitant on investing on projects because they try to avoid losses.
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The problem is we cannot control how people think. Also, not all projects that promotes token are fraud. There are still a few legitimate left although yes most of them are fraudulent. Maybe that is just how this crypto market works. We cannot control it. Even if we try to prevent scammers, they keep coming back at us and they keep finding a way to scam people.
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It actually depends on the coin you are holding. Some coins like bitcoin and ethereum are preferred to hold longer because they appreciate over a period of time and despite of fallbacks, it recovers. Unlike short-term coins which are not in line with the two mentioned coins, they are most likely better to be held shorter because they depreciate and when they do, it is less likely to recover.
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The earnings in bounty hunting is no longer as big as it was before and the chance of getting the money you deserve for your work is very small because ICOs nowadays are being dominated by IEOs. Also, investors are now careful due to scams circulating here.
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but the most dangerous one is greed, not knowing when to stop is bad in every aspect of life but at the same time greed has its purpose too
Definitely correct. I think we should all learn contentment. Most of the times, greed makes us lose more than we could earn. I know because I experienced it myself. When I was still new here, I wait too long before exchanging my coins. Turns out those coins are already depreciating and has no more chance to depreciate. My colleagues were able to sell theirs at an amount thrice than what I got because I was not contented before. But I learned from that experience and became contented now of what I have.
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yeah, right now it's so difficult to find a good project with a serious concept and strong vision. not like 2017, you can find so much powerful project and success rate of them are over 80%. this current condition makes a lot of bounty hunter frustrated.
I agree. Most projects have the same concept now. No more innovations and new ideas. The projects are all generic and have nothing new to offer. I hope with the rise of IEO, new and better projects will be introduced.
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We have no control over the market's behaviours, only the huge contributors and investors can make it move. So all we have to do is wait for the market to recover from a downfall. It has happened before countless times already with long durations. Just make sure not to leave your coins in exchanges or better yet monitor its price.
Also patience can be sometimes a good and a bad thing. Before, I was too patient that the coins I had depreciated. If only I grabbed the opportunity just like how my colleagues did, I could have earned more. But I chose to be patient which led me to loss. See, patience can be both bad and good.
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KYC is no no for me in ICO because it compromises my privacy and may lead to data breach. But maybe, I could consider IEO because compared to ICO it is less risky.
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The two are pretty much the same except that IEO is already verified which means the probability that it is legitimate is high and that it is likely to be successful. I think it should have been implemented years ago. Better late than never because fake projects have already compromised so much from investors.
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this is a reason to immediately find another job. The bounty is just an extra job and not the main one.
Agreed. Do not make this your primary financial source. Money hete isn't guaranteed. It depends whether the projects you joined are legitimate and have useful coins or tokens. Better find a stable job and just make this a part time whenever you are not busy.
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Regardless of what coin or token you are holding, you need to consider both options. Long term holding can be the most suitable action for some coins or tokens especially those which took a while to pump. But for coins or tokens that aren't too useful for longterm are good for day trading because it depreciates faster compared to others.
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I agree. The purpose of crypto and it's decentralized nature is to stay away from data breach. Scam projects that required KYC could have an easy access to your accounts and credit cards if they have all your information. That is one thing that I hate about KYC. No privacy and very intrusive.
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Well, that is the sad reality of ICO projects of this era. Only few are worth the time and effort. IEO is the one on trend right now and according to a lot of people, it is less risky. You should try that one.
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I agree. We cannot blame them though, it is difficult to determine whether a project is legitimate or a fraud especially for newbies. Me myself isn't an expert yet on detecting scam projects. It really takes a lot of experience and a strong instinct.
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I was gone for almost a year, wow. I just checked now. Did not notice how time flew that fast.
Try to check the CMC for the listing of other altcoins. I did. Some really went down but fortunately I was able to sell my potential coins before leaving the market entirely. Right now I am beginning to hoard more coins again.
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Back in 2016, I've been hearing this a lot from my friends and I heard that they make money out of this. At first I was a little hesistant but then I was also convinced to join in 2017. At first, everything was confusing because there are so little things that I know but later on I learned a lot and even earned. I did not stoo because I want to earn money while studying.
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