Are the scam projects killing entire crypto space?

[thiscomm]

I think it should be for investors before investing or funding a more upward program to more carefully read and understand the concepts of the program. and sarn I should do the sending of funds or add funds to support a program after the program runs and complete half of their targets. because if the project on the halfway of the completion target hasn't yet gotten word of sales reaching its target, I'm sure it's just a scam project that is only used to get rich by the development team.

[1714891052]

1714891052

[tippytoes]

In my opinion, I don't think they are killing the entire crypto space but rather they are killing their project themselves. Those who are scam ones will easily get ignored by the users. Now that it is easy to spot a potential scam project, most of them will not advance their scamming tactics. Those who are genuine will thrive and find their niche in the crypto market. I have high hopes with legit blockchain projects that will truly revolutionize our digital age.

[tanjiran]

In my opinion, I don't think they are killing the entire crypto space but rather they are killing their project themselves. Those who are scam ones will easily get ignored by the users. Now that it is easy to spot a potential scam project, most of them will not advance their scamming tactics. Those who are genuine will thrive and find their niche in the crypto market. I have high hopes with legit blockchain projects that will truly revolutionize our digital age.

But fake projects make investor confidence decrease, making it more selective in using their funds. Lay people will increasingly assume that cryptocurrency is dangerous and very risky. So I think the project scams are enough to affect the crypto space.
However, strong and truly high-quality projects will shine and will automatically form attractive ecosystem niches. Not affected by other scam projects.

[kawetsriyanto]

The sca projects can really influence the trust and convenience for the investors to try investing in other projects again. But, this is also available to be used as one of the ways to be more careful and as a lesson for future investment. Many investors have experienced being scammed. Therefore, thye will be strict enough to select which project to invest next, based on analysis and other research again.

[#Darren]

Nobody wants to enter the industry where people are getting scammed every day. Imagine a serious investor that wants to enter the stock market and the only thing that he reads about the stock market is that the every second company is a scam.

[wendiar19]

I think so, many of my friends who don't dare to invest or learn cryptocurrency because they hear a lot of fraud here.
I think we should start improving the crypto image by teaching and adopting it slowly.

[safem]

The rate at which scam projects are emerging in recent times in crypto is greatly generating reluctancy in many crypto enthusiasts to continue with crypto business . Many are coming up with the opinion that crypto is about to vanish. There is great fear in the heart of many investors now to proceed with their investments into crypto projects. If we say there will be an end to scam in crypto we may just be deceiving ourselves because the more there are original products of any good, the more the counterfeit ones are  likely going to emerge as well. All we need to be doing is to be very observant and careful. There could be awareness programs been created on various social media platforms for crypto enthusiasts to know how to discover and recognize scam projects.

[michellee]

If there are many scam project still running in out there, that will makes investors leave the projects and don't want to invest in any project. They will prefer to hold their money and use it to buy another thing that will give them profit.

We are difficult to stop the scamming because we don't know who they are, and we only know if they are scammers after they got much money and then run away.

[daniel002]

Yes, it is, scam projects should not exist anymore. If those companies just try or just experiment their projects and not thoroughly planned the steps in their projects should not continue in launching. Because most scammers pollute new investors minds and make a reason to make bitcoin not to be accepted globally.

[shadowdio]

Yes it is really killing the entire crypto space because of scam projects, investors losing interest to invest in crypto that is why we're facing bad condition in the market. There is no way to stop them, but the only way to prevent scamming is to research the project so be wise.

[jazmuzika217]

Scam project has a big effect here in crypto world. Because of those scam project that are together mix at the legit project, investors and participant will hard to detrrmined the legit and scam project so they will be afraid to join even in the legit project. It will set as a limitation to us,as a participant because we afraid to be a victim of scam.

[pundit]

I completely agree to the point "Scam projects are killing glory of genuine projects" and current scenario is same. There are lots of scam projects all around which are eating investor's money making investors to hesitate in investing in crypto projects resulting overall downfall of the cryto market. Scam projects are making money in a short time but they are killing the whole cyrpto market that is why some regulation is really required in crypto space but due to its decentralize nature its a bit difficult to implement any regulations for crypto projects. Cyrpto community just need to act against such scams to save the crypto market.

[darth_cryptorider]

I think scam project work as a filter for people who came to krypto without knowledge, just to make quick money. Its purge all with rouse glasses and make them actually learn something first

[Brunus]

Like all fields where the rules are not clear, scams are easier to implement.
However, I am convinced that most projects have failed mainly due to incompetence, not by ill will. The altcoin crisis was positive because at least it allowed us to do some cleaning.

[aggress0r]

Correct! And to be honest the volatile nature of crypto itself is a red flag for many people who were eager to join cryptoworld they find this suspicious and too risky and to top it off scams are the utmost red flag. A lot of news inform that some project scammed and stole people's funds and many investors were scammed too so they could bring their negative experience and share with their social circle.

[Crypto_lion]

Of course that's a main reason. Many noobs are scared of increasing in crypto because they have heard their friends losing their money in coins which are dead now and in projects in which people have run away with money.

[Darkoth89]

It's not only 'scam projects' (and with scam I mean projects that had no other intentions than stealing money from investors) that hurt the reputation of cryptos.

From all the hyped ICOs, so many were just too naive when spending their funds. Either they wasted them for nothing, missed the right time to convert their cryptos to fiat or had not real preparation for the bear market. That led to abandoned projects with no real progress. And then it's no wonder that people are sceptical when projects receive millions and don't deliver.

[GGmith]

prison may be the right solution to stop the fraud project, but unfortunately there is no firm action in this case. but on the other hand I also realize that this is a risk for prize hunters and also investors who invest in projects. what we can do must be more selective in choosing projects

[Pamadar]

Correct! And to be honest the volatile nature of crypto itself is a red flag for many people who were eager to join cryptoworld they find this suspicious and too risky and to top it off scams are the utmost red flag. A lot of news inform that some project scammed and stole people's funds and many investors were scammed too so they could bring their negative experience and share with their social circle.

This widespread negative impressions are the ones who's killing the industry. Many projects which scamming people are bringing more people to dislike the market. Scammers are everywhere. They can bring negative impacts to those investors who didn't do their homework and just invested blindly.

Crypto space will survive even scammers are all over the place,  as long as there are people who's willing to continue and take the risk waiting for the success of the industry.

[airdropan]

thats why we need like ruler or police or regulation on crypto to control this one. if there is no ruler or laws to make the scammer get their punishment they just gonna do what they do, they will repeat to make another scam project