Are the scam projects killing entire crypto space?

[robelneo]

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.

From my point of view, scam projects have taken away the glory of genuine projects.

That's not true,  a true or legit project will always shine and they always find a way I have seen some good projects that escaped my radar and some projects that were considered and labeled as a scam but they there are making progress in the market.

Scam projects sad to say are here to stay, but it makes investors wiser and demanding, it's for the project now to prove that they are legit and they are very much different from the other projects around them.

[pcfli]

I do want to ask a question, how do you define "scam projects"?
The definitions may differ from a person to another but the only sure thing that there's a lot of newcomers here with no benefit toward the other projects neither the crypto space in general. Some projects don't have a product but you might find their market cap really high, it's unbelievable.
These "scammy" projects are gathering their value from BTC and ETH and the other highly classified tokens and coins and projects, that's why we keep struggling in the lower prices at the moment.

The scam projects are dangerous for the entire crypto space, it kills the efficiency of the crypto markets. The investors will run away from the legit projects if they face with two or three scam projects. The legit projects never get old but the scam projects come back under different brands. More than 50% of the ICOs in 2017 were scam and copy-paste of the other working projects.

[Plecet Bank]

A technology that develops and is capable of generating great profits. I think it is very natural when utilized by the irresponsible party for making money through fraud.

This system should have very strong security to deal with fraud problems. Maybe already there but the scam is still happening and I think it will be hard to quit. Fraud has a negative impact on a crypto-to-date journey. Many investors are quitting crypto because it is experiencing a decline in trust.

Regulations must be made immediately to strengthen security. And we must be more careful in doing things in this industry.

[19Nov16]

For my side yes, scam projects is killing the altcoins price even fresh coin or old coin. People were lost interest in new coin, In 2017 One coin was surged from 0.3 to 4 USD but today volume is zero. I believe in Bittrex and Binance exchange coin.

2017 is the best year for crypto, many ICOs are successful and reach hardcaps even within a month, now many are open ICO for up to 1 year but have not yet reached softcap, for now buying top coins is safer than new coins or ICOs.

[ElmedoRator]

For my side yes, scam projects is killing the altcoins price even fresh coin or old coin. People were lost interest in new coin, In 2017 One coin was surged from 0.3 to 4 USD but today volume is zero. I believe in Bittrex and Binance exchange coin.

2017 is the best year for crypto, many ICOs are successful and reach hardcaps even within a month, now many are open ICO for up to 1 year but have not yet reached softcap, for now buying top coins is safer than new coins or ICOs.

Because so many projects in 2017 became scams and it made investors lose confidence in ICOs. Right now no one is stupid and invest in ICO again

[FaucetKING]

The scam projects are diversified, the art of scam is getting bigger and bigger in the cryptocurrencies world. Companies and angel investors are searching around the clock for young projects with futuristic vision, with a product and with peoples love and support, they just invest and buy some coins/tokens.. they hold them for a moment and then, BANG! the bloody bath gets full, the sells comes from everywhere and everyone gets fooled and rekt. Crypto is getting really dangerous, take a look at all the cryptocurrencies in the last days, such a trouble we're in.

[kodtycoon]

of course with the many scam projects that have sprung up will only make this industry worse, with such incidents it is certainly difficult for investors to trust every existing project. so to anticipate this problem, strict regulations will make scam projects minimized, because to eliminate scam projects is such a difficult thing in this field, but when there are stricter regulations then at least it will make investors think more wisely to support each project who really have clear goals all the time

[Emperor of Man]

Scam projects are a problem, but no, just like scam sites can't kill the whole internet, scam projects can't kill the entire crypto space.

They always existed. During all those good crypto years of 2016 and 2017 we had a lot of them, but they couldn't prevent market from doing its thing.

[JayTrain]

Scam projects are a problem, but no, just like scam sites can't kill the whole internet, scam projects can't kill the entire crypto space.

They always existed. During all those good crypto years of 2016 and 2017 we had a lot of them, but they couldn't prevent market from doing its thing.

yes, it’s well said that the scammers were and will be, but the fact that people have become more careful, I think this is a positive trend, now companies will compete, I hope that all this will refresh the market and give a new impetus to the crypto industry

[Coin-1]

In my opinion, the cryptocurrency community must strongly fight against fraudulent projects. Such crooks and thieves steal money from honest investors and undermine the prestige of crowd-funding campaigns. Of course, these scammers cannot "kill" the entire crypto space, but they can significantly reduce prices when they will cash out stolen coins on cryptocurrency exchanges.

[sniveling]

Fraudulent projects spoil the market, but they will not be able to kill the cryptocurrency, because nobody invests or will invest in these fraudulent projects

[boltz]

Scam projects are not killing the entire crypto space but they are killing some projects for sure and they scare the investors from trying to find those gems who can bring awesome profits to them. Even wales are not trowing money like they did some years ago into new projects and this is another reason why ICO's have not been successful in 2019 and 2020 looks the same from this point of view.
I think after the next bull run , scammers will get caught with more ease than they are currently now so this is a good feature I'm looking into. I still remember bitstake from 2015 ...lost some good money there.

[Cult]

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.

Yes, scam projects scared many, alarmed, many lost a lot of money, someone even took loans, all this was postponed, and also leaves a mark in the minds of investors

[pungopete468]

Scam projects are not killing the entire crypto space but they are killing some projects for sure and they scare the investors from trying to find those gems who can bring awesome profits to them. Even wales are not trowing money like they did some years ago into new projects and this is another reason why ICO's have not been successful in 2019 and 2020 looks the same from this point of view.
I think after the next bull run , scammers will get caught with more ease than they are currently now so this is a good feature I'm looking into. I still remember bitstake from 2015 ...lost some good money there.

The existence of fraud projeck indeed makes the level of trust and also people when seeing cryptocurrency becomes negative because of the majority of projects that aim to deceive. we as people who understand cryptocurrency must be more careful in finding projects and providing education to many people

[Lexurdania]

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.

Yes, scam projects scared many, alarmed, many lost a lot of money, someone even took loans, all this was postponed, and also leaves a mark in the minds of investors

Every scam project damages investor confidence and of course this is bad for the cryptocurrency market in the future. Trust is important in the investment world, many scam projects hinder the entry of new investors and will certainly affect the price and market cap value

[lobo13hf]

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.

Yes, scam projects scared many, alarmed, many lost a lot of money, someone even took loans, all this was postponed, and also leaves a mark in the minds of investors

Every scam project damages investor confidence and of course this is bad for the cryptocurrency market in the future. Trust is important in the investment world, many scam projects hinder the entry of new investors and will certainly affect the price and market cap value

But this time the important thing is how the market can recover the trust that already lost caused by various scam projects. These scam projects are hurting cryptocurrency.
IEO has significantly decreased the total of the scam project.
I hope that more and more good exchange sites will come soon.
Market needs more investors again.

[Fredomago]

Fraudulent projects greatly affect market growth and affect investors because they are afraid of harm.
maybe the movement of Altcoin at this time is very bad because there are many fraudulent projects that make many people no longer believe it and it is very detrimental.

In some point, scam projects really affects the market growth. Since they are afraid of being victimized and losing money, investors tend to invest wisely.  It's no longer the time of hype where ICO's can generate hard cap and can easily pump the price of token after listing to a decent exchange. That period is already been forgotten. Right now, every step and every decision is accompanied by good research to ensure your invested money. Scam projects are there to stay but there's still good developers who deserve to be supported in order to be successful.

[setialovers]

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.

In my opinion, the overall scam project does not disrupt the existence of the cryptocurrency market but the scam affects the confidence of investors who want to enter. The number of scams will make new investors afraid to enter the market unless there are regulations that protect it but I don't think it will disrupt what is already running

[jcarlo]

Fraudulent projects greatly affect market growth and affect investors because they are afraid of losing their capital.
maybe the movement of Altcoin at this time is very bad because there are many fraudulent projects that make many people no longer believe it and it is very detrimental to many parties.

Scam projects will definitely influence investors in making decisions but in my opinion it will not make investors stop investing. Scams will be everywhere, including in the cryptocurrency market and to avoid this, research is an important thing to do before deciding to invest.

[adaseb]

I don't think scam projects can kill coin like Bitcoin or Ethereum but they can result in a long bear market which is exactly what happened in first quarter of 2018. The Bitcoin futures were live and people were expecting to sell their BTC at the very least $25000 a coin and then the Bitconnect ponzi happened and later followed by the SEC investigating many ICOs. And it lead to a huge crash of most alts and especially ETH.

It brought ETH from an ATh of $1400 down to the double digits in less than a year. BTC also lost over 80% of its value due to the crash.