What if tokens running on erc20 a scam?

[bitcoinsc]

Basically almost all coins are erc20. What if these coins are actually a scam? Probably 60% + are erc20 token coins. They are trying to become the next block chain but what if there just pump n dump scam coins? I mean bitcoin is bitcoin and bitcoin cash is a fork of bitcoin. So not likely scam. U would think to hold for 5 years for mega returns. If they run on there own mainnet would give them more credibility. I hope I'm wrong but these developers would abandon ship sometimes. Probably too hard to solve anything.

[netadacadug]

That is inposible to happen we all know about the erc20 so dont mind it about that only can think of that verry inposible for me, many scam but the original is still original until the end.

[MinerHQ]

Investing in cryptos is a high risk of losing your money so one should invest only their spare money and be ready to lose the money in case the investments go wrong. All these new projects will face a lot of difficulties during the development and they can't predict those issues during the project launch so later stage there are chances that these projects may not a success and if that happens investors will lose their money. So instead of keeping all your investments for a very long time, you should try to book some profits and keep some for long-term growth.

[fransxavariustintin]

I agree with you, investing on altcoin is very vulnerable to scam, you have to prepare mentally when you experience the loss of money and mental stress due to altcoin scam, it is very difficult to detect altcoin that do scam, indeed most altcoin grow with dump and dump system then lost either Where.

[RNGfight]

If you observe carefully, you will find most ERC20 tokens, without any real value, so they just hype, or just for money, this is what the problems faced by the current ERC20 tokens.

[PsylockReborn]

Basically almost all coins are erc20. What if these coins are actually a scam? Probably 60% + are erc20 token coins. They are trying to become the next block chain but what if there just pump n dump scam coins? I mean bitcoin is bitcoin and bitcoin cash is a fork of bitcoin. So not likely scam. U would think to hold for 5 years for mega returns. If they run on there own mainnet would give them more credibility. I hope I'm wrong but these developers would abandon ship sometimes. Probably too hard to solve anything.

If a certain coin is a scam then we can't do anything about it but to stay away from investing on those coins that could potentially lose our investment. You can really tell if the coin or token is just used as a pump and dump for some investors just to get profits. If you can have a good timing during those pump and dump, then you can profit as well but its so risky and needs full attention of the market performance.

[kwarto]

i cant link erc20 to be scam. this is just a platform an storage for any newly created token.. it was just there purely for storage purposes, if you want to send the token to anybexchanges then you can do it with their smart contract aggrement.

[Spaffin]

Well, as you can already say that the tokens released during the ICO on the platform ethereum, this is fraud. So you can all call fraud without any justification. So it can be said that if bread is fraud, that if gasoline is fraud and so on.
Tokens really bring people a long time to use and call them fraud, it's silly.

[tsaroz]

Making an ERC20 token is easier but running own blockchain too does not give any creditability.
Everyone can make a POW, POS, masternode coin just watching some tutorial and forking some projects.
If you have a few miners or a few masternodes, you can keep your coin going.
So, self blockchain has nothing to do with creditability.
It all goes to the intention and devotion of the team and the community.

[Cryptodrees]

Even If at all a certain coin is a scam then we are incapacitated to do  anything about it but to stay away from investing on those coins that could potentially geopardize our investment.You can actually tell if the coin or token is just used as a pump and dump for some investors in the ICO just to get profits. If you can have a good timing during those pump and dump, then you can profit as well but its so risky and needs full monitoring  of the market performance.

[frowsiter]

Most of them are actually going scam now a days and most of them are trying to create their own blockchain. One project that I got to know which was perfect investment last year called as footballcoin had millions of money raised. Now they ended up changing their roadmap and saying that they will have their own blockchain and its been over 6 months now they have no reply over it. It was complete hateful scam!
So its highly likely that its not good thing if projects are promising their own blockchain because they will always fail in it. All the time!

[Howard1102]

I agree with you, investing on altcoin is very vulnerable to scam, you have to prepare mentally when you experience the loss of money and mental stress due to altcoin scam, it is very difficult to detect altcoin that do scam, indeed most altcoin grow with dump and dump system then lost either Where.

I do not agree with your opinion. Most people who are scammed by altcoin are those who have no knowledge. They invest in a penny without a community and they expect the price to rise. That was a huge mistake

[googs84]

Off course it is hard to decide which coins is scam and which coin is not. The worst scenario is that now a days ICO does get listed over the exchanger and we start thinking that it is legit one but in the later time they start changing their plans and thus distrust the main project with which they started. Always fail at the end and when they fail then its our failure too. If they dont rely on the main blockchain then they are making mistake as developing the whole new chain would take lot of funds and they are our funds which we loose if they fail. I think most of them are scamming us with no reasons and some of them are doomsday!