increasing scam projects.

[Cagan]

Most of these projects are either scam or bounty campaigns. What could be the reason for this?

[HabBear]

Most of these projects are either scam or bounty campaigns. What could be the reason for this?

Which projects are you referring to - new ICOs?

Yes, a lot of them are scams.

Why? People are greedy and don't have a care in the world for hurting strangers.

 Have you have ever heard of a ponzi scheme. Someone pitches a too-good-to-be-true idea that has no plausible way of becoming operationally successful and requires some investment of money with little to know requirement for producing something in return for that money.

Greed isn't always good.

[Jet Cash]

There are so many of them, that I have put all of the alt and bounty boards on ignore. It's a shame that I have had to do this, because I suspect there may be a couple of alts that are worth researching.

[sud]

The latest scam ICO that disappeared after tokensale is Crestonium. I don't know how much they have stolen, but it was annouced they raised around $1.2M. I haven't invested it this project but unfortunately I was wearing their signature, promoting this scam with my own reputation. Gotta say that it feels really bad...

[Jet Cash]

Did they pay you?

[sud]

Yeah, bounty manager got the tokens for rewards before the team vanished, and all was paid according to stakes. So I have a bag of worthless tokens in my eth wallet as a souvenir to remind me of this scam forever

[23xfi]

The latest scam ICO that disappeared after tokensale is Crestonium. I don't know how much they have stolen, but it was annouced they raised around $1.2M. I haven't invested it this project but unfortunately I was waering their signature, promoting this scam with my own repoutation. Gotta say that it feels really bad...

The Crestonium scam is such an unfortunate and unbelievable one to me. It looked like a legit project that kinda promised way too much and I believe many people got excited and ended up getting caught up in the excitement. If only there was a way to verify the legitimacy of these projects before running campaigns here or doing an ICO.

[Potato Chips]

Scams will continue to exist as long as someone is falling for it. Unfortunately, they are getting smarter while the investors are getting dumber-- or should I say lazy??.
If you're a scammer, you will choose a medium where there's a higher success rate. If you're talking about ICO's yes they are without a doubt a good method for a fraud as from what I've observe, people do tend to just ride the hype train rather than to dig and analyze data.

Oh and I forgot cloud minings LOL. Majority of them are scams

[Souri]

Humans will scam humans. This has been true since million of years so sadly yes the unregulated cryptosphere is a playground for them. Also frm some ICOs that I have seen there are some people that just dont know better and really believe to put up a project.

[babyaia]

Recently i participated in a scam bounty campaign,i feel bad because my time and effort are wasted it is almost 2 months of working and it ends up nothing.

[Trollinator]

I would disagree; as well as people being more informed and able to spot a scam.

[markdario112616]

They see money in that line of business. Given the fact that most of the people nowadays can get persuaded easily without doing a background check or researching about the platform itself. They are taking that mistake as there advantage to victimized others.

The interesting part is that the people behind the project are not literally working, they let their victims work for them in a way of persuading their friends, relatives, other people and etc. This is commonly known as the pyramid scheme, in which they will promise that you will have a certain amount of commission once they completed a deal.

I would disagree; as well as people being more informed and able to spot a scam.

Nope, Not all are well-informed. There are still a lot of people who are getting scammed in general.

[salintheonline]

yes its true, but not all of them,in 2018 iCO scams are becoming increasingly common.

[pealr12]

We need a project or  teams that can track fake and scam icos, this will lessen the worry of some investors.  Some icos are scam thats why some investors are afraid to  to put money in a legit project

[theobserverr]

Scam icos are so bad the the crypto world.

They exist and will continue to.

Scam ico are not being punished in any way so my humble opinion is that they will have a tremendous growth.

Soon they will have a significant portion of Ico market and it will be too difficult for people to distinguish legit ico's i am afraid.

[caudalmar]

i think there are a lot of scams in the ICOs because this platform has a great potential.  if there is great potential for growth, then scammers will really take the opportunity to earn from it.  unfortunately, there are just some investors who wouldnt know how to detect if a project is legit or not.  i think we need a solution that would help us determine whether its a hoax or not.  and given all the technological advancements, i think it will be possible.

[sandeep_b84]

I think yes. As the governments and cryptocurrency industry leaders are looking into the issues faced by the investors and speculators, hopefully, there should be certain watchdog organizations that could come up soon to curb the scam projects before they can harm people financially. This will save many people from losing their hard earned money and save lot of people's time and effort for campaigning in scams, without the knowledge of their genuinity.

[mk4]

What could be the reason for this?

Because ignorant people in the cryptocurrency space just invest in something that has hype. That's it, without even looking at the project much. Hence, scammers take advantage of this ignorance. Easy money for them if they generate enough hype and publicity. Take a look at Verge(XVG), it raised a lot of red flags and it's at the top 20 in marketcap for fucks sake.

[baguetter]

I try really hard to make sure that companies I participate in are genuine, I even do extreme amounts of research when I support the bounty campaings. Still there is a risk that I am helping out a scam company.. There should be an ICO that is trying to solve this issue honestly, the reputation I currently have, meager as it is, will definitely suffer otherwise.

[Dacosta Osei-Tutu]

It's as a result of greediness and selfishness. A friend of mine has lost huge sums of money in the crestonium ICO which was a scam.