Are the scam projects killing entire crypto space?

[mdzahed134]

The only way to stop scams is to stop investing in them and warning as many people as you can via the usual methods like the scam section of this forum and through telegram groups etc. and this will help inform those who aren't aware of these illegitimate projects

I think stop SCAMS is totally will never possible but your suggested ways are very effective if we able to warn in everywhere before investment. Another things is actually a lot of brightest projects can be SCAM any time you can't predict before your investment. Many people's trying to warning in the scam accusation thread. Telegram groups cannot reach each and every single people.               

[Delilonia1]

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.

You are very right. With the rate of scam projects around, it's scary at times to invest, notwithstanding, one has to take the risk, just incase the project turns out not to be a scam. The only advice I always encourage people to adapt when it comes to issues like this is for everyone not to be greedy. Dont invest more than you can afford to lose. That way, even if you lose your money, you are still up and running because all tour eggs are not in a  basket

[wxxyrqa]

Fraudsters operate on the cryptocurrency market according to a pre-planned plan, as a result of which all investments that investors transfer to their fraudulent project are withdrawn into fiat funds.  Thus, the cryptocurrency market leaves significant financial volumes, and in fact the absence of fraudsters in the market or at least three tight controls by the developers of new projects from the control structures, all these funds could be beneficial not only for the development of specific promising projects, but also for the benefit  the entire cryptocurrency market.  It’s even hard to imagine how much over the period of 2017 and 2018, scammers stole money and removed it from the cryptocurrency space.

[Linkkoin]

Scam projects have indeed damaged and nearly killed many legitimate cryptocurrencies. The entire crypto space has been affected even though it will never be “killed” by these.

Not only cryptocurrencies themselves, but the whole environment which has significant problems with advertising - even though you are 100% legitimate business. Or alternatively - some companies related to processing payments regard any crypto business in the same category as gambling.

[Rcoinmoon]

Of course you would agree with me that 98% of the projects are scam, I mean most of them kick start a project without inadequate plan on ground so it gets to a point where they run out of ideas and they are left with no option than to exit scam.

[leatutz]

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.

Getting run of top coin like Bitcoin and Ethereum will change mind of investor. New investor can't invest directly in new projects, Bitcoin or top coin help there. After short supply of Bitcoin and Ethereum could change the market situation. After 2018 people don't invest in any scam project that's how market will kill scam project.

[aamirsuh]

This is a very controversial issue. There is fraud in the cryptocurrency markets. But aren't there scams in normal markets? I think this situation should be investigated better. People can be fooled in both markets.

[travwill]

Now everyone is investing in IEO using exchanges as a guarantor on both sides. On the one hand, guarantees for investors; on the other, guarantees for the exchange.
Scammers can only carry out ICO or IEO on little-known exchanges, those who invest in a similar one are the culprit of their problems, but this is not widespread.
So I do not think that scam projects now have a big impact on the market.

[BartS]

from every side, fraudulent projects almost killed the entire cryptoqurrency space including project investor confidence. actually not only now, but fraud projects have existed since then and still continue today. we can't eliminate it completely but we can still avoid it by not participating in suspicious projects.

Scams are not going to kill the market of cryptocurrencies what it is going to happen is that the scams are going to kill the market of icos and any other similar market that emerges in the future.

And while that is a shame since there are talented developers out there that could make use of our support if they are really smart then they will need to find a way to profit from their idea without the need to have to create an ico just like satoshi did when he created bitcoin.

[aryana42]

This is a very controversial issue. There is fraud in the cryptocurrency markets. But aren't there scams in normal markets? I think this situation should be investigated better. People can be fooled in both markets.

Right, but what we have to realize is that fraudsters are everywhere, both in the normal market and in the digital currency market, and that's why we all must always be more careful in dealing with things.

[BintangBuleun]

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.

Yes, many projects currently do not run based on the roadmap they have written. They only write for completeness. In fact, almost one year later missed their roadmap. Actually, the characteristics of fraud projects are easily known. For example, they often change project rules, change the name of the token or coin often.

That's a part of it, if they failed to do what are their plan in the project they will going to change its name or rebrand to have a new fresh look or start as it all depends. While other only rebrands for best outcome or they think itnis mich better to use that name or logo like NEO. Rebranding isn't a problem, the problem is they are not capable of doing the project.

Of course it keeps happening. I see many sites that use other companies' logos that are already successful, even though they don't include links to official sources, only use images. I think this kind of method is part of the scammer.

[Ashong Salonga]

I guess so because with those recent scam cases that involve many projects related to cryptocurrency, it truly affects the industry im a sense that it makes the credibility, reliability as well as the impression bad to the public because many people are being traumatized and now afraid to get engage into cryptocurrency due to those cases. It also made a bad generalization that all projects which promotes new crypto are scam which is not true because there are still lots of projects that are promising, do have the potential as well as reliable and credible. Due to that generalization, the whole industry is being affected because potential investors are being afraid to invest into cryptocurrency which decreases the demand volume making the price to turn down resulting to the declination of prices.

[Ethereums]

i think not entire industries of crypto got killed, in some way it really made people aware of bad things in this scope such as BAD ICO , BAD IEO moreover with such BAD EXCHANGE. The impact surely will be remembered as experienced by many crypto enthusiasts. But the good thing is people learn that scam is everywhere and never let our guard down for it. Since many scam project goes around, even I ever get in touch with it. So let assume this as our journey in crypto space.