Are the scam projects killing entire crypto space?

[Kambal2000]

From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.

Yes i absolutely agree to you, altcoin is dying right now and i think that's because of scammers, because investors are tired in investing and get scammed, to all scammers out thier please fight fair, i still hoping that investors comeback again, and trust ICO/IEO again.

Just imagine how many altcoins / shitcoins we do have these past few  years, imagine how much fund they got from investors, it's really a million million dollar worth of money, so imagine how many people has lost their fund and trust for crypto, because of this the trust has really been reduced as well as many investors quit and forgets crypto as they thought this was the biggest scam.

[1715403450]

1715403450

[1715403450]

1715403450

[1715403450]

1715403450

[1715403450]

1715403450

[1715403450]

1715403450

[biddicoin]

yes, the scam project makes bad reputation of cryptocurrency, but not kill entire projects. those are different
most people just aware with crypto, they are more carefull to invest on new/entire coins. but they still invest it
as long as not all coins are scam, crypto wont be killed.

[Experia]

As base on the previous market ICO investments deals a great impact on the crypto industry, way back 2017 were ICO's were true and the team behind those projects are serious but now ICO are one of the main factor why crypto is down at this moment because of having a lots of scam project. Even those promising coin cant lift the image of crypto.

[IvugeoEvolutionCoin]

The scam project does not kill the altcoins it just shows that people are still weak to know what the scam is and is not. But this has been done in recent years and so today people (investors) know what to do with the scam icos today that are still taking good luck today. People have learned from their mistakes and now scammers will find it difficult to fool people today,

When you say scam projects just "shows that people are still weak to know what scam is" I don't really concur because some scam projects are highly sophisticated scam. Take for instance, the team showcased an MVP and  attend popular blockchain/crypto events and at the end tend to scam, will you still blame investors who thought the team is real? . Well people are wiser now, that's true, atlesst the rate of scam has reduced significantly compared to 2018.

[Visbay]

From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.

Yes i absolutely agree to you, altcoin is dying right now and i think that's because of scammers, because investors are tired in investing and get scammed, to all scammers out thier please fight fair, i still hoping that investors comeback again, and trust ICO/IEO again.

It will be difficult to return if investors continue to experience losses from what they have done. Everyone starts to dislike it and if next year it will continue, Bad things will come for the crypto world. I am very sure of that.

This all happening because of us, we are responsible for our earning and lose if we want to make money we will have to have good knowledge about the project and make research. Those who invest blindly in New projects suffer lose then they start talking bad about that project or about the entire cryptosystem. We should keep our environment clean by reporting those scaling projects to admin.

[yulionoo]

yes i agree with you op the scam project has killed the entire crypto space. there are many good projects that ultimately cannot reach softcap because they don't get investors. some investors are afraid to invest in new projects because of the fraudsters. fraud makes the crypto market worse. but I also don't know how to reduce this fraud. because cryptocurrrency is decentralized and there is no authority to control it. so I think we can only accept and be patient with this situation.

[pantek talacuik]

From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.

Yes i absolutely agree to you, altcoin is dying right now and i think that's because of scammers, because investors are tired in investing and get scammed, to all scammers out thier please fight fair, i still hoping that investors comeback again, and trust ICO/IEO again.

It will be difficult to return if investors continue to experience losses from what they have done. Everyone starts to dislike it and if next year it will continue, Bad things will come for the crypto world. I am very sure of that.

This all happening because of us, we are responsible for our earning and lose if we want to make money we will have to have good knowledge about the project and make research. Those who invest blindly in New projects suffer lose then they start talking bad about that project or about the entire cryptosystem. We should keep our environment clean by reporting those scaling projects to admin.

Thus it is best to continue learning before taking careless actions right now. You can understand and continue to learn before you invest your money in large amounts and start at a small stage.

[Bim abk]

The scam project does not kill the altcoins it just shows that people are still weak to know what the scam is and is not. But this has been done in recent years and so today people (investors) know what to do with the scam icos today that are still taking good luck today. People have learned from their mistakes and now scammers will find it difficult to fool people today,

When you say scam projects just "shows that people are still weak to know what scam is" I don't really concur because some scam projects are highly sophisticated scam. Take for instance, the team showcased an MVP and  attend popular blockchain/crypto events and at the end tend to scam, will you still blame investors who thought the team is real? . Well people are wiser now, that's true, atlesst the rate of scam has reduced significantly compared to 2018.

but if you expect the rules though it will help a little but so far the movement that addresses the specific rules is not much in my findings. I would rather expect people to be able to find the original project in their way compared to waiting for the rules

[barnes13]

I think maybe it will have an effect on just a few new investors who are lazy to do research. If they have been thoroughly researched, such incidents can be avoided. Indeed, at this time many people are starting to invest in cryptocurrency, but many of them are just joining in with friends without knowledge of the project they chose, right?

[niisarearning]

Crypto supporters should stop investing in new projects . We are already raised fund for creating projects for next 100 years . Also there is almost proposed projects (successful ico’s) having solution for all the things in the world even for the space. Follow the project you Invested in past ,  Question them get the progress let them introduce in new exchange don’t allow scammers simply raise money and run away . We are also responsible for this scam projects.

[Ifezanku]

Yes, scam projects are the shortcoming of this industry but I think investors are getting more smarter now and scam schemes are getting it so must difficult to swindle investors off their money so the impact of scams projects in the industry is reducing

[drachman]

Yes. why because some of coins created just to scam people look at the bitconnect coin we thought that coin is legit but as the investigators found out the coin is ponzi and eventually the site and price bitconnect drop heavily and in the end the team were ran away and never turn back and because of many ICO and ponzi coin scams people are now hesitating to invest on cryptocurrencies so, these are the reasons why i agree these scams are killing cryptcurrencies

Even when a coin is revealed to be a scam and there is definitely proof that is being offered in the forum and in other websites people don't normally take the time to research the project in which they are interested and they never see this information and they get scammed anyway, in the case of bitconnect there were many members of the forum warning from the beginning that it was nothing but a Ponzi scam but those that invested in the project defended that developers until the very end.

[RussiaUkraineTranslation]

This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.

[Faxmate]

This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.

Initial exchange offerings indeed can be trusted when listed on famous exchanges like Binance. At least this shows that the project is not a scam and serious one too. When a contract is made between  involved parties, the exchange thoroughly audits the project. Of course, if they wont, they will end up providing opportunity to scams or failures that will ultimately ruin reputation of exchanges.

[drachman]

This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.

And this is a mistake, now with ieos many are trusting that exchanges are going to do their job and are relying on them to investigate the developers and the project, but exchanges with good reputation like binance are going to only verify if the people behind the project are who they say they are but that doesn't guarantee that the project is going to be a success, for that you need a good roadmap and good developers that know what they are doing and how to accomplish it, and those kind of developers are in very short supply.

[fauzan Ichsan]

This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.

Initial exchange offerings indeed can be trusted when listed on famous exchanges like Binance. At least this shows that the project is not a scam and serious one too. When a contract is made between  involved parties, the exchange thoroughly audits the project. Of course, if they wont, they will end up providing opportunity to scams or failures that will ultimately ruin reputation of exchanges.

right, at least by listing on a large exchanger, it can be used as an indicator that the project will be seriously worked on seriously. we know that by listing in large exchanges, it requires large funds as well, so only good projects join on that exchange. but if the project fails, I think it will reduce the circulation of investors in crypto

[Bossfidelity]

It would be impossible to quantify the extent of damage which scam projects have caused to the cryptocurrency industry. Most people see the industry to be a hub for Scammers and unscrupulous individuals. This has also increased the difficulty of mass adoption of cryptocurrency.

[Pamadar]

This is why I prefer IEO's on platforms like Latoken, Binance and ecxx. This way I know the exchange I use and trust has vetted the project.

And this is a mistake, now with ieos many are trusting that exchanges are going to do their job and are relying on them to investigate the developers and the project, but exchanges with good reputation like binance are going to only verify if the people behind the project are who they say they are but that doesn't guarantee that the project is going to be a success, for that you need a good roadmap and good developers that know what they are doing and how to accomplish it, and those kind of developers are in very short supply.

This much better to believe in. Exchange like binance will require the team to provide detailed information same like with investors who needs to provide KYC in order to participate with IEO's lottery.  But there's no assurance or any control with how the team will perform after the listing reputable exchange will take care of the sale and assured that the coin will be listed but after that there's nothing to expect with them.

[Vishnu.Reang]

It would be impossible to quantify the extent of damage which scam projects have caused to the cryptocurrency industry. Most people see the industry to be a hub for Scammers and unscrupulous individuals. This has also increased the difficulty of mass adoption of cryptocurrency.

You can find scams in every single field. Obviously the prevalence would be higher for relatively new domains such as cryptocurrency. However, I would not be too much bothered about them. These scams can be quite damaging in the short-term, but in the long-term they bring some positive outcomes. They remind the investors to stick to the established cryptocurrencies and to be more careful about their investments.

[Chuky92]

From my point of view, scam projects have taken away the glory of genuine projects.
Due to too many scams around crypto space, investors are not confident on investing in new projects. It's Becoming very difficult day by day to find out the legitimacy of the projects.
This in turn affecting the projects and result of this is not raising the funds as expected and required for further development of projects. This is daviating projects from their roadmap which is resulting in too much delay or even failure.
Missing interest in investors is somehow obstacle to growth and further research of dApps projects.
I think, rugulations will solve the topic to great extent, but is there any other way to stop the scamming and not just going away from it?
Please apply your thoughts.

No they have taken the glory of this space, if they have I don't think anyone will be interested in the affairs of this space again. Rather I will say, scam projects are drawing this space back, because the funds that would have been used to invest in valauble projects are been taken by scammers. Also, another thing holding us from moving forward is all these hacks and bad news from exchanges. But even at all these, the crypto space has come to stay it's only a matter of time.