Are the scam projects killing entire crypto space?

[forexandcryptoauditor]

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.

[1714668495]

1714668495

[danherbias07]

Yes that is true but this kind of news is kind of expired by now.

Those scammers have done it a year ago and they had been successful.
Now, there is not much people who really want to risk a lot to new projects and it is hurting them. But the old ones are still on going. Bitcoin is one example of it.
Not all will be affected by it anymore.

[forexandcryptoauditor]

Yes that is true but this kind of news is kind of expired by now.

Those scammers have done it a year ago and they had been successful.
Now, there is not much people who really want to risk a lot to new projects and it is hurting them. But the old ones are still on going. Bitcoin is one example of it.
Not all will be affected by it anymore.

You are right. Old is still gold.
But I think more research and innovations required for future prospects of blockchchain technology. If this is affected by scam projects, there will not be complete stop but delay to entire cryptocurrencies growth.

[Baby Dragon]

Yes that is true but this kind of news is kind of expired by now.

Those scammers have done it a year ago and they had been successful.
Now, there is not much people who really want to risk a lot to new projects and it is hurting them. But the old ones are still on going. Bitcoin is one example of it.
Not all will be affected by it anymore.

Its indeed has a huge impact on people, it makes them more afraid because of what they had experienced and we can't blame them because it happens on most of us too. Most of them are not willing anymore because they think they are falling again into some sort of scam, you can literally find them everywhere and that is the reason why we need to be very aware and careful.

[Winscosinally]

Scam projects are not killing the entire crypto space but they are only making Altcoins looks very bad and untrusty, most especially new starting up projects, many investors are turning to big exchanges now for half guarantee of a project success, projects listed on binance are still doing fine even after some value loses but investing in such projects still have upper hand than others

[Kvalentine]

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.
Kissing 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.

We all seem to be hoping for regulation to finally be free of scammers and cheaters in crypto space but i do hope the regulation will be that effective atleast to some extent but mind you scammers can't be 100% killed, they will always find a way, its better to learn to avoid them rather than waiting for regulation that might not happen anytime soon

[cytpoway121]

I understand your point of grief; but do you also know that for many projects that exit scams; there are innocent individuals who got in hugely and got huge rewards from investing??

This is why crypto currency investment is not a child’s play, you need to get in when the price and chances of profits are  higher

[Hallmader]

Nope. These scam projects are not enough to kill the ideas of cryptocurrency. The most that they can do is to give crypto a bad name.

Do you think that Bitcoin will die if all altcoins will end up shitcoins? I don't think so. Bitcoin will continue thriving. And before these scam projects will significantly damage the reputation of some great projects such as Bitcoin itself and a handful of altcoins, they are already dead.

[alberdina]

Because crypto conditions 2018 look bad and especially for the ICO project. It looks like this crypto is becoming a field to commit fraud. I prefer when an institution in the form to do a checking of the ICO project, IEO and STO. The Institute will definitely filter and supervise projects. The work of this institution can be informed in this forum.

There may already be a team checking, but I think their work is not maximal. Because there are still many fake projects. Hopefully with an idea like this can provide benefits.

So that investors and bounty hunters can join a project that has good quality.

[JeffBrad12]

The crypto space is going back again from its graveyard caused by so many scam icos. This time with the new mechanism called IEO and more smart investors make crypto becomes great again and the golden year for crypto will come in the future.
The regulation will not solve the problem but if that can fix a problem and there will be another problem will be appearing caused by the full control by the regulators.
It's not the best way.
This time more people learned a lot from their past experience.

[CryptoBry]

We have to remember that scams have been going around in different manifestations and colors for the past decades and its history is immortalized with the term 'ponzi' which can still be applicable up to now. With the coming of cryptocurrency, scammers realized that they also ride the bandwagon and for the first time they are truly rejoicing since the market has become global and not anymore limited to certain locations or even a country. This was the bad and scary situation we witnessed with so many bad ICOs of 20127 and even in 2018.

Now, investors are already wary of similar projects because there is no guarantee that a project can be genuine and that the people behind are true and not fakes and scammers. Coupled with the fact that a start-up can really have a hard time to survive in the marketplace, investors are demanding that things should be transparent and there should be adequate vetting before a project can be allowed to do the crowdfunding. And this is where the current IEOs come. Still, there is no guarantee whatsoever that scams will not happen.

[Alisha FR]

The crypto space is going back again from its graveyard caused by so many scam icos. This time with the new mechanism called IEO and more smart investors make crypto becomes great again and the golden year for crypto will come in the future.
The regulation will not solve the problem but if that can fix a problem and there will be another problem will be appearing caused by the full control by the regulators.
It's not the best way.
This time more people learned a lot from their past experience.

yes, I just want to add, that crypto requires a new innovation for the initialization process in the market, whether it is in the form of IEO or IPO, I think in the future, the crypto market will be more selective, this can be seen in various projects that exist today, the concept what they have created is very innovative and challenging, and I'm sure the project in 2019 will find a strategic market the following year.

[shoreno]

Nope. These scam projects are not enough to kill the ideas of cryptocurrency.

while everyone here on the thread agree that scam projects are really killing cryptos but there are you that disagrees with it.  do you know actually know what your talking about?  can you not see that there are now so many projects up this date than compare to when cryptos are not yet popular.

 this is the reason why coins like btc are now going down not just ico are affected here because the publics confidence are dramatically affected but lets hope newer people will only foccus on the good side or in the positive news because they are our only hope to rebuild the reputation of the legit cryptos .

[Leonardo7]

Before now, I use to be a big fan of ICO and was loss to it, after much-failed project and loss of huge investment, I had to re-think my steps and withdraw from ICO projects by 98%. It's painful to see a promising project even been announced and managed by a Full Member or even a Sr Member go scamming. There are a good project with good intention by bad eggs have created unhealthy atmosphere for them.

[xenomorphe1]

I don't think that scam projects are killing the entire crypto space. Look at what happened in 2017. There were a lot of scams, but prices of cryptos did increase like never seen before.
I don't know if there are more or less scam projects from this year or in 2017. But in 2017, there were plenty of scam projects. And some projects didn't look like scam.
There is surely some scam projects this year too, but they are surely getting less money than in 2017.
There is more scams when the price of cryptos increase as it attracts more scammers.

[Brunus]

Every innovation where you move without rules opens the door to all types of scams and profiteers.
On the other hand, it is precisely the lack of clarity and predictability that allows us to make even very high gains.
When the rules are clear, everything will be safer but also the gains most limited.

[joseyphil82]

The painful truth is we are losing more new investors to new projects that ends up a failure experiment or ends up a scam project, new projects are the biggest threat to crypto space entirely because failure has became their habits, too many scam projects will make crypto lack behind

[Nadziratel]

I see little likelihood that SCAM ICOs can fool conscious investors. However, they can scare the new investor away from the market.
Don't invest in any projects you don't know about anything. Crypto investments always full of risks.

[meanwords]

I slightly agree. We really can't avoid this type of thing because as long as money is involve, people will find a way to take advantage of it without thinking of the consequences. Greed will take over those people and those who got victimized will surely leave a bad opinion about cryptocurrency.

But I don't think the crypto space will be killed just because of this. They are worthless and doesn't mean anything in the entirety of crypto space. Bitcoin alone is enough. Bitcoins movement decides the fate of cryptocurrency in my opinion. If only those investors are smart, they would have invested in Bitcoin instead.

[jrrsparkles]

Scam projects killed the introduction of new tokens and coins but not the entire crypto space,which is actually good thing in my opinion since we already have more than 2000 cryptos available so its overwhelming of tokens and coins if it got more and more cryptos even if its legit.

From now investors need to be very careful while investing on the new projects because chances of getting successful even with the good projects becomes very low in these days.