Apparently you can get rich even with scam coins.

[r1s2g3]

It is because people are stupid , people are still buying bcc after it has been proved a scam. When someone wants to believe in a project they won't care what people tell them. They will blindly follow.

I do not think people are stupid, They are just greedy.  They know, they will sell the scam coin to some new guy in higher price and get profit. 90 percent coin are just scam coins created by scam developers.
How can people having access to internet can be stupid and blind. They are just blinded by greed and when scam exposes they act like they were blind.

[zoata87]

Since when can not you make money with scams? It's always like that because people are greedy and stupid. You can make a lot of profit but the risk is also very high. The dev always have total control over the coins so they can always cause panic to buy low and then pump the price to sell high. That's why many people want to create their own altcoins so they can profit.

[dead_m92]

PERFECT EXAMPLE:
Sisa.Fund
Bitconnect
Confido (well, the dev's are not managing this one anymore)

But Sisafund was a huge scam in here, and a lot of people lost more than thousands in there, it was like a massacre.

Since when can not you make money with scams? It's always like that because people are greedy and stupid. You can make a lot of profit but the risk is also very high. The dev always have total control over the coins so they can always cause panic to buy low and then pump the price to sell high.

[ImHash]

Did you buy any tokens yourself? The only way for it to be a scam if you bought any tokens, You don't know if people were buying them for a higher price, It could be the same people buying them.

[Silberman]

Apparently you can. Unless I'm mistaken I thought confido (https://coinmarketcap.com/currencies/confido/) was a scam coin. Recently the rest of Confido team was refunding their collected ETH for Confido tokens through KuCoin exchange. However some people started buying confido at a higher price than what the team was buying, eventually from 0.07$ went up to 1$ and still costs 0.34$ right now. A coin that has literally no uses, no devs, nothing and yet if you had or bought coins when it was 1-2 cents, not long ago, you could have made a x30 - 50 almost with a scam coin. Are people really this uninformed when it comes to buying coins? Is there something that I'm missing here?

The market is not rational, it is driven by emotions, this is something you need to understand very well since it is true not only for the big markets but for anything, that is why TV ads try to manipulate your emotions instead of just presenting the facts of why their product is better, so the answer to your question is yes, people can earn money with scam coins as long as there is some hype behind it.

[AidenCasanova]

Apparently you can. Unless I'm mistaken I thought confido (https://coinmarketcap.com/currencies/confido/) was a scam coin. Recently the rest of Confido team was refunding their collected ETH for Confido tokens through KuCoin exchange. However some people started buying confido at a higher price than what the team was buying, eventually from 0.07$ went up to 1$ and still costs 0.34$ right now. A coin that has literally no uses, no devs, nothing and yet if you had or bought coins when it was 1-2 cents, not long ago, you could have made a x30 - 50 almost with a scam coin. Are people really this uninformed when it comes to buying coins? Is there something that I'm missing here?

The market is not rational, it is driven by emotions, this is something you need to understand very well since it is true not only for the big markets but for anything, that is why TV ads try to manipulate your emotions instead of just presenting the facts of why their product is better, so the answer to your question is yes, people can earn money with scam coins as long as there is some hype behind it.

the manipulator or the whales is smart
or maybe the developer and the team is smart to move the price
current rate for the token for now is $0.177134 USD (-6.94%)  0.00001392 BTC (-14.97%) 0.00015519 ETH (-14.28%)
it is about the same price with last year price

[BubblySheep]

It's true that people can still make money from scams but they need to be quick in getting in and out before the door shuts. Those who came in last are the poor victims.

[btc-facebook]

AFAIK, scam coin is the coin that vanish after ICO or pre sale, they took early investor's money away.

Scam coin that you mean is not end with scam but they show many sign of scamming,right ?
The project have their own way to attract new investor as long as they achieve the sales target

[muvie]

Yes, most of the crypto profits are based on greater fool theory investing. As long as there is another dude out there which rolls also the snow balls and motivates other people to buy in we will grow.

[DanWagner]

This is not really apparently , this has been happening for the past few years . That is why people always say to do your research on the project you are investing in . Because a lot of devs have dumped on everyone and disappeared.

[The Young Turk]

Why did you surprise too much? When you see so called investors in this business you can't believe your eyes. People give and take advices in public scam facebook groups, telegrams, slacks, discords etc. There are too many lil fish that have almost no knowledge. They don't know coin's purpose, have never read whitepaper, don't know team members but they hear from somewhere and invest (throw money) in it. You can make very good money with scam ICO's. It's all about packaging and market (manipulation)ing.

[Lastsamuraj]

True.Some of the coins with completely zero potential can get x10+in just few weeks.I think this ia the proof , that people are only after traiding money,not an actual project success profit

[osasshem]

It's true that people can still make money from scams but they need to be quick in getting in and out before the door shuts. Those who came in last are the poor victims.

Getting in as fast as they can is by dumping the coin at the ICO price to make their immediate profit. Note, these large holders does not sell all, and at a very long run, the price starts bouncing back. Those who comes in last, and they are patient with holding, they gain even more than the heavy dumpers.

[rovi84]

Everything requires sacrifice, so we will experience. Anyway we have to keep working hard in order to get maximum profit. I ever get a scam coins, indeed earnings is not as much as if not a scam coins, however it can profit

[WeedGoW]

Nobody was expecting that situation from Confido, in fact, when i saw it getting listed on Kucoin my eyes were like "WHAT THE FUCK?" How was it possible? I am not saying that it was a BAD project, but they were a scam one, and they have stolen everything..

More like they blind by their own greed. They know for sure something off from it but still buy for 'much gain'. Yeah, greedy idiots.

[jack19123]

Yep, happens all the time.. coins with nothing valuable... COUGH MASTERNODES COUGH - Although I've capitalised a lot off these "gems" lol

[itsmeram]

Yep, happens all the time.. coins with nothing valuable... COUGH MASTERNODES COUGH - Although I've capitalised a lot off these "gems" lol

You clearly do not understand a single word of this thread, he is just talking about projects like Confido, and Bitconnect, who are scam, ponzies, or however you want.

But a lot of people is trading with them and making a bunch of money..

[jack19123]

Yep, happens all the time.. coins with nothing valuable... COUGH MASTERNODES COUGH - Although I've capitalised a lot off these "gems" lol

You clearly do not understand a single word of this thread, he is just talking about projects like Confido, and Bitconnect, who are scam, ponzies, or however you want.

But a lot of people is trading with them and making a bunch of money..

I understand the thread fine thankyou.. I added my own perspective.. sounds like you're heavily invested in masternode coins, nice try though

[frmracc]

Apparently you can. Unless I'm mistaken I thought confido (https://coinmarketcap.com/currencies/confido/) was a scam coin. Recently the rest of Confido team was refunding their collected ETH for Confido tokens through KuCoin exchange. However some people started buying confido at a higher price than what the team was buying, eventually from 0.07$ went up to 1$ and still costs 0.34$ right now. A coin that has literally no uses, no devs, nothing and yet if you had or bought coins when it was 1-2 cents, not long ago, you could have made a x30 - 50 almost with a scam coin. Are people really this uninformed when it comes to buying coins? Is there something that I'm missing here?

If that scam coin already placed on exchange people will still buy it even the coin is a scam, especially the whale, always find a way to get profit and they can do big pump on that coin. Actually there are many cases like that, scam/trash coin but one day the price suddenly pumped to x10-20.

[cynical]

THATS what scares me with this market right now. As long as something says crypto currency it will go up a crazy amount. It’s all based off speculation. It doesn’t matter if there is actual technology backing up the product. Get into any ICO and you’ll be  sure to make money. It’s scary

Yes thats what frustrates me at the moment about crypto.
When a new ico comes out people only buy into it with the intentions of dumping when it hits the exchanges.
This helps to provide a market for scam ico's
The markets are controlled and manipulated a lot of the time by whales and pump groups and some people actually think its ok to join in.
Some people dint care about scams as long as they can take part and not get scammed themselves.