Scams were good for crypto

[nicole7852]

I got scammed by the Chinese on Litecoin last night. Guess what that's crypto. Get over it.

If your gonna get butthurt everytime a coin dumps before you get out, crypto is not for you.

What do you mean got scammed by chinese? Do u mean they pumped?and how do you know

Chinese ppl are deeply involving in the pump and dump of altcoins and get quick profits. You are insane to follow them then blame them for your loss. You should think whose faults cause you lose money! It is yourself.

[hund]

Scams are bad but we are beyond the point that they would hurt the legit coins like they did early on.

But don't say 5000 btc won't be scammed again. They will but just more sophisticated than Ethereum, Blocknet, Paycoin or Neucoin next time around ...

Fools will again spend thousands of BTC on empty hype and vapourware that looks legit on first sight, has a lot of experts and celebrities going for it, nice website and looking super innovative and promising massadoption.
Yes, millions will again be scammed in a professional way by not-so-anon scammers. 

[Nxtblg]

Crime is good for the community too 

I know, the reasoning sounds weird...but it's essentially Darwinian. It's something like, "wolves are good for caribou because they cull the herd."

[Spoetnik]

Scams are bad but we are beyond the point that they would hurt the legit coins like they did early on.

But don't say 5000 btc won't be scammed again. They will but just more sophisticated than Ethereum, Blocknet, Paycoin or Neucoin next time around ...

Fools will again spend thousands of BTC on empty hype and vapourware that looks legit on first sight, has a lot of experts and celebrities going for it, nice website and looking super innovative and promising massadoption.
Yes, millions will again be scammed in a professional way by not-so-anon scammers. 

bs.

The scam coins have turned this entire crypto currency scene including Bitcoin itself into a complete joke.. damaged reputations galore.
I think this has hurt us all at drawing in reputable people to invest or take part in the currency aspect etc.

I think you guys defending the shit coins are idiots and your so full of shit it's not even funny !
You guys try sooooo fucking hard to try and twist shit around to defend the crap coins but you got nothing (no defense)
I seen Coindesk waaay back post a News story titled something like Clone Coins Are Good
And the guy that posted it had no valid argument aside from maybe it attracted people to the scene (AKA: The BitJohn retort)
and that is pure fail.. we can fire holes in that logic all day long !
So what else can you guys say that would convince me ?

I'd like to move forward but this shit coin excuse machine is not going to help things 

[benthach]

Scams are bad but we are beyond the point that they would hurt the legit coins like they did early on.

But don't say 5000 btc won't be scammed again. They will but just more sophisticated than Ethereum, Blocknet, Paycoin or Neucoin next time around ...

Fools will again spend thousands of BTC on empty hype and vapourware that looks legit on first sight, has a lot of experts and celebrities going for it, nice website and looking super innovative and promising massadoption.
Yes, millions will again be scammed in a professional way by not-so-anon scammers. 

bs.

The scam coins have turned this entire crypto currency scene including Bitcoin itself into a complete joke.. damaged reputations galore.
I think this has hurt us all at drawing in reputable people to invest or take part in the currency aspect etc.

I think you guys defending the shit coins are idiots and your so full of shit it's not even funny !
You guys try sooooo fucking hard to try and twist shit around to defend the crap coins but you got nothing (no defense)
I seen Coindesk waaay back post a News story titled something like Clone Coins Are Good
And the guy that posted it had no valid argument aside from maybe it attracted people to the scene (AKA: The BitJohn retort)
and that is pure fail.. we can fire holes in that logic all day long !
So what else can you guys say that would convince me ?

I'd like to move forward but this shit coin excuse machine is not going to help things 

i agree, these rampage scams turning crypto and bitcoin to a joke playground

[monsanto]

Here is why:

I don't see that many scams anymore because investors have learned to stick with good old coins with good community involvement. Yes, people are still creating chit coins but they're merely doing it for little gain (1-10 btc profit at most). You won't see anyone running around to scam 5000 btc out of anyone because it ain't gonna happen and investors are getting smarter....all investors have learned their lesson from past scams and personally I would rather play safe than sorry.

Scams gave more visibility to "good coins" and eventhough people lost money it was very much needed in order for crypto to evolve.

thoughts?

You seem to be referring to the selling of shitcoins, but of course there were/are plenty of other scams directly related to cryptocurrency. In terms of the buying of selling of coins though, I'm not sure there was much of a choice since it is about the purest form of the Greater fool theory that there ever has been. The intrinsic value of 99.9% of these access points to blockchain ledgers is the hope that you will be able to resell them at a higher price to others. The scams are inevitable.

[HCLivess]

The noobs who got scammed left crypto for good. Scams turn away newbies and that's bad.

Agreed.

Several people I introduced to alt cryptos got burned and will likely never be back.

Let natural selection take place

[TibanneCat]

The scam coins have turned this entire crypto currency scene including Bitcoin itself into a complete joke.. damaged reputations galore.
I think this has hurt us all at drawing in reputable people to invest or take part in the currency aspect etc.

I think you guys defending the shit coins are idiots and your so full of shit it's not even funny !
You guys try sooooo fucking hard to try and twist shit around to defend the crap coins but you got nothing (no defense)

A big problem is that people think they'll strike gold, just like some did with btc back in the day, by buying the newest and shiniest shitcoin, which are just full of BS. Later they get burned in the pump and dump then just start telling everyone they know to stay away from crypto because its all a big ponzi scheme. how could that possibly be good for crypto?

But don't say 5000 btc won't be scammed again. They will but just more sophisticated than Ethereum, Blocknet, Paycoin or Neucoin next time around ...

Fools will again spend thousands of BTC on empty hype and vapourware that looks legit on first sight, has a lot of experts and celebrities going for it, nice website and looking super innovative and promising massadoption.

neucoin (aka nokoin) raised 4000 btc with presale and now even many early buyers are getting worried as they realize it is pure vapourware, just read their own forum. It was created by a well known spyware peddler and is another major pump and dump in the making.

as long as shitcoins manage to create hype, people will loose money. wolong laughs as we type.

[tspacepilot]

The noobs who got scammed left crypto for good. Scams turn away newbies and that's bad.

Agreed.

Several people I introduced to alt cryptos got burned and will likely never be back.

Let natural selection take place

Natural selection will take place whether or not you "let it".  That's by definition.

OP has an okay point, it is a good thing to see a community get stronger and wiser, but it's not a good thing to see people get hurt.  Unfortunately, oftentimes people have to learn the hard way.  There's a lot of discussion in meta these days about how the "scambusters" of default trust are actually causing more harm than good not only because of all the stuff they get wrong (false accusations and whatnot) but because the little green trust light offers a false sense of security to people who ought to be making decisions more critically.