Are the scam projects killing entire crypto space?

[conex]

Yes they are definitely casting a shady light on cryptocurrency which in my opinion, isn't the best thing if we want mass adoption. Beside shit projects, there are some which are doing great (real product behind).

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[princecharles]

There is no doubt that the scam projects are bringing bad image to the cryptocurrency industry. This explains why more people and projects are sceptical of joining the space. In fact some persons have misconstrued the cryptocurrency space to be a hub for Scammers and unscrupulous individuals.

[tianglistrik]

There is no doubt that the scam projects are bringing bad image to the cryptocurrency industry. This explains why more people and projects are sceptical of joining the space. In fact some persons have misconstrued the cryptocurrency space to be a hub for Scammers and unscrupulous individuals.

newcomers might think this way, but if they have good experience they will continue to look for projects that deliver good results. fraud projects have more impact on people outside crypto and also newcomers because they certainly assume that crypto is a fraud, it happens because of the lack of knowledge about crypto

[TheClownSong]

There is no doubt that the scam projects are bringing bad image to the cryptocurrency industry. This explains why more people and projects are sceptical of joining the space. In fact some persons have misconstrued the cryptocurrency space to be a hub for Scammers and unscrupulous individuals.

Agree that the scam project gives a bad image to the cryptocurrency market because new investors will be afraid to invest. In addition, good projects that should be able to achieve sales targets and run become hampered because of investors' fear of scam projects.

[tiang_tower]

There is no doubt that the scam projects are bringing bad image to the cryptocurrency industry. This explains why more people and projects are sceptical of joining the space. In fact some persons have misconstrued the cryptocurrency space to be a hub for Scammers and unscrupulous individuals.

People who misinterpret cryptocurrency spaces are those who have just become familiar with cryptocurrency, because those who already have a lot of experience in the cryptocurrency field will certainly be different ways of seeing and understanding it.

[Chainsmokers]

For me, the number of scam projects makes it difficult for new projects to attract investors to invest in their projects to provide funding so that the project can run according to the roadmap. Although there are some projects that really want to develop their projects, but I think for the moment it is difficult and many projects fail because of not achieving softcap and for now I prefer to invest in the top coins.

[Golftech]

There is no doubt that the scam projects are bringing bad image to the cryptocurrency industry. This explains why more people and projects are sceptical of joining the space. In fact some persons have misconstrued the cryptocurrency space to be a hub for Scammers and unscrupulous individuals.

People who misinterpret cryptocurrency spaces are those who have just become familiar with cryptocurrency, because those who already have a lot of experience in the cryptocurrency field will certainly be different ways of seeing and understanding it.

Realities in life, experienced traders have a much better understanding from how things will going to work, those who are new to this market will keep
suffered being victimized because of their carelessness. While in the other hand, those who have good understanding and already been around for quite some time will make decisions according to hope they'll see the potentials and not just because of the hypes.

[Bezobraznike]

For me, the number of scam projects makes it difficult for new projects to attract investors to invest in their projects to provide funding so that the project can run according to the roadmap. Although there are some projects that really want to develop their projects, but I think for the moment it is difficult and many projects fail because of not achieving softcap and for now I prefer to invest in the top coins.

   Scam projects can't kill crypto-industry at this point, but scams are slowing down the progress, and cause of them new
and good projects suffer.
   Like you Chainsmokers I like to invest in top-coins. I give new projects some time for developing and only later I analyze
the project and decide to invest or not. Investing in new project is like gambling, 50/50 that project will succeed or fail,
top-coins have a good reputation, strong development and I like to invest in them more then in new projects.

[SolarWindMiningCompany]

It is clear that scams create a bad reputation for the entire crypto system, on the other hand this happens in all really innovative sectors (which one do you remember that kind of far west was internet twenty years ago?)
So, let's accept the situation and wait for a little cleaning.

Obviously true. The market reputation is at stake and its affecting it deeply. If you observe clearly, crypto don't record new entrants anymore like before that we witnessed an upsurge in 2017. Generally, we all should put in a collective effort to sanitise the cryptocurrency Ecosystem and make it more appealing to potential investors

[zhengqi]

Regulation does not solve this problem fully. Just before almost all projects brought good profits, then they began to abuse it and now investors are very carefully approaching the issue of investment.

[patz22]

Because of these scam projects it is really hard to trust which project will succeed or to invest in. Cause of course, when they present their whitepaper it looks like unicorn but when they launched it, it would be a donkey if you know what I mean so for me better to have a working project which has been tested before conducting any sales.

[swivel1983@gmail.com]

I think that because of fraud projects have lost their former glory. But it taught investors to be smarter. Now there are fewer successful projects, but they still exist.

[sorrros]

They are good for natural development of cryptomarket. Retail investors need to understand that cryptocurrencies doesn´t mean easy money, they have to be very careful with choosing correct coins and after they learn it, the market will be free from scams. 

[Kersh768]

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 do think so. It is because of the traumatic experience from recent scam projects that the investors have been into that drove them away making them avoid investing into projects that involves cryptocurrencies. Even bounty hunters are afraid of engaging into projects because of those scam projects that they have gone through. We are all suffering because of that. Now, the mentality of investors as well as bounty hunters are into the concept of generalizing all bounties or projects are scams that is why we are poorly supported by investors making the market down that leads to the failing of some projects in the market. For me, in order to make the bounty hunters and most specially the potential investors to get back into investing on crypto project, we must establish once again good credibility.

[johnwest]

Obviously its affecting a whole community and newbie investor's first impression will get negative and they will be against entire crypto for this reason. People have become cautious now and most of them wont invest in these new, no plan projects but still we need some kind of system where we can determine whether a project is scam or not.

[nutriagrigia]

Obviously its affecting a whole community and newbie investor's first impression will get negative and they will be against entire crypto for this reason. People have become cautious now and most of them wont invest in these new, no plan projects but still we need some kind of system where we can determine whether a project is scam or not.

the system existing for a long time and on the forum has already written many times about how to properly analyze new projects. Now the problem is that people do not use this system and continue to invest in terrible projects. you say that people have become careful but we see that even obvious scam projects can raise 5-10 thousand dollars. maybe it’s not enough, but you think that such people exist who invest in everything

[letyouearn]

Good strong altcoin season will make the situation better, regulation will change it, but the process is too slow, it will take few years. Now there too many scams just because ICO teams find it to hard to succeed without scamming people.

[BartS]

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.

Most of the money in this market is invested in the top 10 projects and we know that they have a very good reputation and so they are not affected that much by what scammers are doing, the market that is being greatly affected is the ico and the ieo market, it has come to the point in which people do not really even look at the projects anymore because they know they are scams and 9 times out of 10 they will be correct.

And until that changes I do not see how we can ask investors to put their money in those markets again

[meliodas]

Good strong altcoin season will make the situation better, regulation will change it, but the process is too slow, it will take few years. Now there too many scams just because ICO teams find it to hard to succeed without scamming people.

The scam ICO teams don't want their ICO project to succeed, they all just want to scam people. We don't need a strong altcoin season to make the situation of bad cryptocurrency image better, we need a good regulation for the cryptocurrencies in order to create a standard and to make sure that less and less scam projects will penetrate the market.

[Kiefner]

They definitely mislead new investors, but in general I don't think the scammers are killing the glory of the good projects. They just became part of this market, but really promising projects still have a chance.