Are the scam projects killing entire crypto space?

[joinfree]

You are  right but the  truth is  people are  changing satoshi vision that  is why there  is so much  scam  around crypto space. Most  people  see it as  get rich  quick  scheme. So when they are  investing into  project  their  focus  is  not on the project  they  only focus  on the  token  but  there  is no way  a token  can get  value  with  solid project. There is  allot  of  shitty  token  without a solid  project  behind  it. Scam  are killing but investor don't do due diligent  when it  come to investing into  crypto.

[1715138633]

1715138633

[1715138633]

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[trauchot]

Scam projects do not kill the cryptocurrency sphere and will never kill, because without scam projects there are honest companies that are created not for the sake of money but in order to improve our lives with the help of cryptocurrency technologies, and scam projects are usually created to simply raise money and of course it is a huge problem for investors, because they lose money by investing in scam companies, but unfortunately it’s still too difficult to find scam projects.

[cudora]

What else are they doing? They are creating negative news around the industry, which makes people fear to enter the industry. A lot of big investors are sceptical towards crypto currencies, because of such a big amount of scam projects.

[pandanaran]

as we know that fraud projects are increasingly rampant and most investors are worried about investing in ICO projects. but because IEO was present, it slightly reduced concerns about money laundering in the project. but the reality is that the fraudulent project has made many investors afraid to put money into it but not kill the entire crypto space.

[DU18]

For past few months the impact of the large number of ico scams held by the developer was really felt, so at that time, the prices of bitcoin and altcoin experienced significant price reductions as well as the loss of investor interest in investing in crypto, but I think that has been passed and now investors are starting to be active again to invest their funds in projects that are indeed implementing ieo as their sales system. ieo is now an alternative developer to sell their tokens in a transparent and honest way.

[Insomnia family]

I think fraud projects will always be around us or in this cryptoqurrency world, they cannot be stopped and they will grow as long as investors invest in the wrong place. at the moment I see investors starting to be smart and will not put their money in junk projects so that the crypto space will not collapse just because of a fraudulent project.

[Aabcde]

Scam projects will not kill the space of crypto. It's like when you try buy something, there are a lot of seller offer you with different price. If you buy the cheap, maybe the quality is not good, and if you buy the expensive one, the quality almost perfect. All of the seller have their own risk.

Scam project always exist, but don't fall in twice. At least you have learned from the past to know more about crypto world. How much scam project comes from the first time till now but BTC still have demands.

[sapnu]

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.

I don't think that is true because there are so many scam projects but still the community is alive maybe the project and the team is banned but there are no big effect on the community maybe the members of the investors are the one who are infected by the scam project and that is the thing that we should consider in investing, we should analyze better and check if the project is legit. You are the one who is responsible for your money so you should study the whitepaper of the project you want to invest in. It is very important because your own money is involved here.

[judeafante]

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.

If there's a company or group that can laid out regulation then I'm on it if we have a consensus and every one voted that we should have one then so be it, we should set up one time and see if it really works, I hope a company is reading all our post and if he has the means then set up a regulatory body here to monitor project if it is legit or not.

[Shallow]

Although I agree with you, but also I won't say they are killing the crypto space because at this level it will be hard for the crypto space to die, rather I would say they are slowing down the growth of the crypto space. We glamour for adoption but with increasing rates of scam projects etc, mass adoption will take a long time; this is what I meant by they are slowing this space down. Furthermore, from the recent upcoming projects, it is becoming clear that most developers are just repeating what is already existing, which also has its negative effect.

[Ailmand]

Scam project taints the whole crypto. Just look how it affected ICO. It made investors lose faith in ICOs which resulted to majority of ICO failing and legitimate and good project not gaining enough budget for project development.

[CHRISBIN702]

I blame the enablers. Scams and scam projects wouldn't exist if we as a community were more vigilant and didn't let our greed get in the way of proper research and due diligence. I for one think scam projects are just part of life. Any industry. If there is liquidity flowing, scammers will be present. It's up to us as a community to make it harder for them to succeed.

[Zeke_23]

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.

I don't think that is true because there are so many scam projects but still the community is alive maybe the project and the team is banned but there are no big effect on the community maybe the members of the investors are the one who are infected by the scam project and that is the thing that we should consider in investing, we should analyze better and check if the project is legit. You are the one who is responsible for your money so you should study the whitepaper of the project you want to invest in. It is very important because your own money is involved here.

Being alive of the community doesnt mean that it does not the whole community at all, it has an effect since every individual in the community was feeling down after they got scammed in a project, not affected financially but being affected emotionally, they are hoping for the seed of their hardwork.
Happily speaking, every individual in the community learned how to moved on quickly, they dont think about what happened in the past, they think of what will gonna in the future.

[rmhuntley]

Being alive of the community doesnt mean that it does not the whole community at all, it has an effect since every individual in the community was feeling down after they got scammed in a project, not affected financially but being affected emotionally, they are hoping for the seed of their hardwork.
Happily speaking, every individual in the community learned how to moved on quickly, they dont think about what happened in the past, they think of what will gonna in the future.

The attitude that must be taken to keep moving forward is to forget the past and become an experience. Some projects that I have participated in previously made me disappointed because they did not produce results. But for what continues to be fixated with disappointment, don't let disappointment stop the steps to be able to see a better future.

[btcmegastar]

Scam project taints the whole crypto. Just look how it affected ICO. It made investors lose faith in ICOs which resulted to majority of ICO failing and legitimate and good project not gaining enough budget for project development.

Exactly, we are experiencing this type of activity with the companies who have the ability to develop the project. They cannot able to raise the funds during the crowdsales but when it comes to the fake project they are successfully raising the fund. That's many don't have a good opinion towards the ICO fundraising.

[hashman]

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.

Yep, I agree with you. Scam projects maybe not killing but damaging the over all crypto world. People lose their hope, their believe and their support to crypto world when they see the crypto market is full of scam projects.
IEOs are a bit good for blocking these scam projects. As IEO project represent the reputation of the exchanges, exchanges are watching their IEO project closely. As the number of IEO projects at TOP10 will increase, new investors will see less scam projects and it will strengthen  the believe to crypto world.

[mrdeposit]

Scam project taints the whole crypto. Just look how it affected ICO. It made investors lose faith in ICOs which resulted to majority of ICO failing and legitimate and good project not gaining enough budget for project development.

Scammers affect the entire crypto area of existence, but we are already used to living with it. In a world created in the internet, it would not be possible without scammers. Such projects increase our job in some issue, or even as a result of research, we may be scammed, but that is not enough reason to give up. Besides, it makes investors more cowardly with the ICOs, but it is irresistible, and we have to accept it.

[Impaler]

Yes, one of the biggest reason why this whole crypto market is facing problems. People and investors ate afraid of scams.For this few scammers the whole community is suffering.

[BRODIN]

in my view it is also like that that fraudulent projects have killed most of the crypto market, one of which includes investors. Investor confidence began to collapse seeing many cases of project fraud, but now I think some investors are starting to be more selective in choosing projects.

[Little_king]

they are not killing it but are spoiling the image of the technology which has brought about many bad names and the improper move of the market and a way to make govt not supporting or believe is one of the easy way to terrorise  the world on money laundering and scamming investors which will bring down the good reputation of the good and hard working scientist who has work to liberalised us all from poverty and centralized world.