Are the scam projects killing entire crypto space?

[Bagani]

That is absolutely true, scam projects in 2017-2018 killed the entire market for about 2 years but I'm glad right now that the IEO era has began and it somehow teaches investors to look deeply on the project the want to invest. Scammy/Shady projects don't raise anymore due to the fact that the investors have learned in this past 2 years.

[1714909966]

1714909966

[1714909966]

1714909966

[1714909966]

1714909966

[1714909966]

1714909966

[1714909966]

1714909966

[Iykejunior]

No doubt, I agree with you totally on this, there are so many projects who are actually genuine, but due to the mentality the space has given most investors and enthusiats, people do not have enough faith in good projects and then they may eventually be seen as scam. For a project to suceeed, both parties most be in line.

[De4ted]

I would say that most investors lose huge interest on investing in new projects but we cant say that it kills the entire crypto, only in ICOs thats why right now most projects do IEO  but scammers now also do the same. 

[Shadidalam1111]

 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.

[crazy-pilot]

I agree with you, but I don’t know how to stop them. Scammers are too skilled, they will always find a way to deceive people. I think that there is no way to completely get rid of them. Everyone should be able to identify the scammers himself.

[wedosgibas]

For new investors, they might back off, for those of us who can understand the project and previous experience, must have a strategy to return

[SaidNurs]

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.

Scam projects, and everything that smells of scams is what makes crypto growth slow, even killing crypto. When it comes to ways to eliminate crypto fraud is very difficult, because crypto works in cyberspace. For fraudsters will continue to look for loopholes even with tight security to get the benefits. Back to yourself how to become a good doer in the crypto world.

[magnum cyber]

in fact in the cryptoqurrency industry there is nothing to regulate the market, everything runs on every user. if you want regulation I think it is not a solution to reduce project fraud, because scamers always have a gap in every action. but if you want to involve the government it will only have an impact on crypto adoption and not a solution to reduce fraud.

[Bananington]

Yes there are too many scam projects retarding general acceptance of crypto, but IEO done on reputable exchanges  for example has curbed this at token sale level.  The reason why I wrote "token sale level" is because some team members might even go to the extent of doing IEO on reputable exchanges but after that do away with funds or will not use funds for project development as promised. This issue of scam is raising concerns, putting fear in investors. Regulations like you mentioned will reduce it but regulations has its own downsides. Let's hope a better solution is enacted soon.

[bartolo]

In any case, those scams are harming new projects, but not the well established ones, not to mention top coins. Regarding the crypto world, don't forget that ICOs, STOs and IEOs are just a part of it, there is much more apart from that.

[taufik123]

New projects increasingly do not have reasonable prices and end in not achieving the softcap target. the increasing number of SCAM projects, the more it will have a bad effect on new projects that really have goals and vision and mission for the future. Getting rich and making a fortune from projects now is very difficult and even impossible, it takes a long time. ICO is less attractive to investors.

[Ridwan Fauzi]

That is a fretful thing when being investor on this industry IMHO. Don't you remember when the market ICO crash and there is most investor who give a bad assessment so as they leaved ICO project to store their money for investing just because scam project? I think you should know that.

Even, I believe most countries who still have a bad view against cryptocurrency is they have known that the scammer is something which cannot be released because lack of supporting authority. But it is the time to showing to them that we can change it, we can change everything especially a bad assessment into cryptocurrency. We are the user of cryptocurrency and we have to convince that cryptocurrency is a good place for them but also we have to give a positive thing to prevent the spread of scammers.

[whtchocla7e]

The number of fraudulent projects is many, even up to over 95%. This makes it difficult for good projects to convince investors to participate. Since many scams from ICOs happened, some governments decided to ban the use of this method to raise capital, which adversely affects good projects.

[DarkIT]

The number of fraudulent projects is many, even up to over 95%. This makes it difficult for good projects to convince investors to participate. Since many scams from ICOs happened, some governments decided to ban the use of this method to raise capital, which adversely affects good projects.

for now, avoiding project scams, and not giving them space is possible. find out about it, and give that information to everyone. conversely, when finding an interesting project, and of course the truth is close to 100%, it is also worth informing. the point is, we need to provide information to others about the speculation we get, along with the evidence. that's probably the closest way for now.
regulation is very important for this, it's just that until now there is no regulation that can really make a scammer disappear.

[jagaban]

Of course yes. Scam projects are already killing the markets. If so many projects that did ICO last year are still working today, you can be sure we won't be seeing cryptocurrency prices tumbling as it is today. But too many scam projects will scare investors away. Most people in crypto today are those that have been in it for a long time or those who made money during the last 2017 bull run

[Mike Mayor]

It is people who support scams that are killing crypto space. There many projects that are trying hard and are decent but people will rather flock to just anything they see. I am not even sure what most bounty hunters choose as their criteria as which projects to support. Investors I have seen have some special sites for ICO investing. You even just pass KYC once and can invest as you wish. No one really talks about these things because those making money will not tell you how.

[aemma]

I agree with you to an extent, yes scam projects exists in their numbers but I don't think they are killing the entire crypto space rather they are dragging us behind because most of us lacks idea to point a number of them thus patronising them even the more.
So if we should start giving more attention to those upcoming projects but with clear definition on what they want to offer, experienced team and preferably working MVP as well as those few projects still existing and are really working hard to bring about change in this space as well as the world then we would go far. Nevertheless, I still believe the crypto space will be great, it is just a matter of time.

[retnoanjani]

That is the fact, investor confidence is declining because many projects are fake and lead to scams. Nothing can protect us but ourselves. In-depth analysis is needed before deciding to get involved in a project. But don't worry, strong and truly good projects will always emerge, as blockchain adoption is increasingly being used to increase the effectiveness of various fields. A strong project with a good strategy and product will surely be crowded in the news, don't miss it.

[Teawhalee]

Truly the scam projects have really crypto ! It now low as investors are now wiser than before ! But yet people no longer trust new  project to invest into them ! The crypto first generation are gold !

[Flux0z]

Waaay too many ICO scams. I personally don't invest in ICO projects for this very reason, since they are typically not launched fairly.

Look at ARK for instance. One of the WORST performing coins. Due to their ICO, a lot of early investors bought the majority of the coins, and dumped the price to where it is right now, being able to buy the coin at 1 cent. Not saying it's "unfair" to be an early investor, but if a few people control most of the coins, it's not really that decentralized anymore.

There are a few gems out there, who launched fairly, one of them which I'm eyeing is Stakenet. Very interesting project due to the milestones they already set thus far, considering they launched in the middle of the bear market (March 2018).

First POS coin with Segwit, Masternodes, Atomic Swaps, And Lightning
Inventor of TPOS (Trustless Proof Of Stake)
Helped Litecoin implementing Lightning on mainnet, which was a cool collaboration, besides that they fixed a major flaw in the PIVX seesaw mechanism between masternodes and stakers.
3rd project to implement lightning on mainnet next to BTC and LTC.

Their Lightning DEX is the most exciting part of it all however, but I'll let you guys do your own research on it, only thing I'll say is that it beats most DEX solutions out there

Peace out!