Facts about this "industry"

[Vispilio]

sometimes one bad apple casts a dark shadow on the entire industry... As much as there are shameless scam projects,

there are also truly valuable altcoins with unprecedented technology and functionality already in place.

[Wale777]

Crypto industry has been experiencing a lot of duplication which breeds shitcoins and some poorly developed project, bitcoin has always been the king in this space and no any other altcoin have come close to it because of the unprofessional attitude putting up by the devs

[Pamadar]

The selections are mostly being seen inside this industry, we can't deny the facts that most of the time we are taking the risk, we aren't sure how things will proceed we just take the steps and allow destiny to fill the next outcome, we don't see reality unless results already being achieved, we need to have an open minded appreciations to continue surviving.

[uneng]

These are negative facts about this industry, but it doesn't mean this industry is a complete shit. The speculation market is strong and somehow it helps crypto currency to be successful, it's undeniable.
But don't forget this industry also helped people from every corner of the world to connected themselves virtually to make business. It created a lot of jobs, entertainment and investment opportunities. Thanks to this industry very poor areas of the world were irrigated with external money, that is the most helpful money for the development of these areas.

[Pagri]

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

Yes, no doubt that kind of things are what have prevailed in the minds of many people when they hear the word "cryptocurrency", and it is the first thing that comes to mind when we think about the possibility of investing in cryptos. However, all these types of problems are not exclusive to the crypto-universe since those of us who have more than a decade working in different types of online businesses already know that the same seems to prevail in all types of Internet businesses. Nothing new under the sun.

What we should emphasize is the many advantages offered by investing in cryptos at the moment, and that in reality most cryptos users, taking the appropriate security measures, have not suffered significant problems.

[passwordnow]

- exchanges that don't give a fuck and are not even hiding blatant wash trading, tape painting and spoofing.

- pump and dump groups with thousands of members on telegram dedicated to inflate the value of the coins of their choice and then dump their bags on poor bag holders who fund their gains before they run the thing to the ground.

- hackers who hack websites, wallets, exchanges, smart contracts

- scammers of all kind

- exchanges that will randomly confiscate your money and then you wait for months for customer support response, criminals

- 99% of icos are blatant cash grabs with no useful product or working prototype whatsoever and they are going to fail.

- miners that waste incredible amount of energy to mine mostly worthless funbux, ruin gpu market and occasionally enjoy cheap, even subsidized electricity while providing pitiful amount of new jobs.

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

- "captains of the industry" who think they're next Edisons or Nikola Tesla while in fact they're making overpriced pogo sticks at best.

Scammers and hackers are typically everywhere, it's not just found on crypto. They are living in every industry where they can fetch money. As for those miners, I don't think that they really are wasting their energy with those worthless coins that they mine. Some I guess do this and just waiting for that coin to pump because of the market condition. And as for crypto investors, well everyone that's already in here has his/her own choice of what coin to support.

[mrdeposit]

The decentralized system is the best option for everyone to act as they wish. So, we started this trade knowing it. Lately, the lack of good market conditions has triggered this further.  But it will improve over time, just give it some time.

[hummer113]

I was happy with everything except the scammers, you can protect yourself if you use your head, and not wanting to get rich in one day.

[GregH37]

Yes that are all true. But imagine if we only see all the negative thought of something you will never aporeciate the good side on it. And if we only noticed and focus on the bad side of crypto we will never be motivated to work hard in earning crypto so it is not a proper mindset.

That is it, despite all the bad things we have in this new rising market, it has still done good better than bad, aside scam projects, it has made lots of people become rich, so many businesses has successfully being established and has also created job for the jobless ones.

The market of cryptocurrency was just introduced and it is still at its early stage, with time when regulations and all manner of check and balance system comes to play, I’m sure that all these will really become a thing of the past, after all when gold was first introduced, there were so many atrocities that were committed with it too until its regulation became firm.

[prtty2gal2]

In the midst of all these negative things you have taken your time to research on, a lot of people are busy making genuine fund from the market, one of my BOSS once told me that if you focus your time in chasing a problem and condemning things, you may never go far in life, but if you focus on working on solutions to a problem, then you become the most successful.

We are aware of all these challenges that come with the cryptocurrency market, but what we are more concerned about now is how we can still make them work in our favor. So I think we should be more focused on looking for solution rather than just compiling the problem.

[michellee]

I was happy with everything except the scammers, you can protect yourself if you use your head, and not wanting to get rich in one day.

Be careful from scammers, and they will always try to steal your money without you realize. We need to always aware of any suspicious links or information that offering an easy way to make money because that thing will not exist. No instant money will come to us, and we should know that before we got scams. So we need to learn more and never stop to prevent ourselves from the scammers.

[okala]

judging from this post, the conclusion is one - now there is a continuous lawlessness!

Should we say then that anonymous is now a crime because judging from the post what give room to all this bad aspects of the cryptocurrency industry is it privacy and ability to operate unidentified which is what decentralization is all about.

[nikogluttonym]

- Crypto investors (speculators) who heavily shill their coins and fight with each other like a bunch of retarded children over whose funbuck is the god and which is worthless trash.

Your facts are definitely fun to read especially this one. If a novice reads this post, he will rather run away from this market, even without starting to understand crypto. Below it was necessary to list the advantages of this industry.

[bartusv]

These are the facts, but there is another one: crypto and the blockchain technology are awesome and will change our lives and economy from the bottom to the top.

[Pet240]

~

These are some of the reason why some people are being skeptical and afraid of coming into the crypto space to invest, but they forget that; to make it bug in life, you have to fake some risks.
These days, we have the privilege of getting passed some scam projects by participating in IEOs, because they are safer.

[Tipstar]

Crypto is going in bad path.
Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.

[wesk1212]

Crypto is going in bad path.
Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.

I agree.  As if someone specially lured gambling people here.  Who then can not get out of here giving them some handouts.

[SirLancelot]

Lol, this is cryptocurrency and you can't stop all those things you have mentioned here, cause there is just now way to stop them. So the best you can do for yourself, same as others can as well do for themselves is to be aware of all these things that are happening in the crypto community and find ways for them to avoid things like this. They can be avoided. If you don't want to get caught up in a pump and dump, you an stop investing in small coins or try to dump them before you get dumped. As for ICO, how you can avoid them is by doing proper research before you settle for any of them. As for hackers, to avoid them you should stop storing all your coins on an exchange, and stop using desktop wallets (your computer can be hacked) or any wallet that can easily be hacked, you can use offline wallets.

[Leonardo7]

All these are part of a decentralized system, all these are bound to happen until people become wiser and stay in a project they are very sure of. Instead of running after what is not and what could make them burn their bitcoin and be given shitcoins.

[serjent05]

Crypto is going in bad path.
Crypto should have made our life easier but it has turned into a gambling game where one person benefits from others investment.
It's becoming more and more like a slow ponzi or networking game. You bring in new investors and get away with nice profits.

It does made our life easier but crypto is not responsible for our wealth.  Imagine sending remittances in just a click of a mouse even without bank account.  We do not need to go out, fall in line just to pay for our bills since there is already a third party that accepts cryptocurrency and settle our bills for us.  It do made our lives easier setting aside those fact you mention.  Besides it is in our own discretion if we gamble or trade.  Other just buy to use in the future so that they don't have to go out of their office when they wanted to pay or buy something.  The unbanked people got a chance to participate in trades and other investments that was previously only available to those who have bank accounts.  Any bankruptcy or losses is not done by the cryptocurrency but rather to the wrong decision we made.