Different type of altcoins have their season which attract scammers be watchful

[coinfinger]

This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

We need more factors that will still come in like that of 2017 to elevate some of these coins, and moreover, most of these projects came with different purposes that are not tied to each other so they should naturally be independent of each other's factors and if they have real use case, they should all have their own separate season, which is why I tend to study a project very well before investing in it, look at harmony, despite all the bear market, they still had their own increase, so I agree with you that all altcoins have different season.

[CryptopreneurBrainboss]

This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

Quite sure they're referring to bitcoin in regards to the cycle of market. We tend to generalized most things when it comes to cryptocurrency and that's where the misunderstanding is coming from. The only market that have proven times without doubt that it's current market state isn't a stable state, is bitcoin as we have experience numerous bull and bear market in the past ten years in it has existed.

Altcoins on the other hand if I'm not mistakenly the only bull run it has recorded was the 2016/2017 bull market so until it repeat itself probably 2020/2021 we can't conclude yet although just like others I'm optimistic another altcoin bull run will definitely happen.

[Kvalentine]

This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects

[TheUltraElite]

I would use the phrase failed project because that's what is mostly happening.

How are so sure of what is happening behind the scenes? If there is no proof of the project being developed then its good to assume that the project had failed.

Some of this project aren't scam but they can't compete in this current market condition so they lose interest from Investors which drives the price of tokens down since current Investors are wanting to sell thereby pushing the price down. The bear market isn't a favourable condition for projects to progress although it's the best time to identify worthy projects to invest in.

"Its a bear market" excuse has been used by every other project as a blanket method to evade questions and raised suspicions. Whether the project was aware that bitcoin or altcoins would be a investment subject to immense volatility at unpredictable times of the year, makes me question of their credibility in the first place.

Which is also why they seek out private investors without telling ICO investors about it and use that to pay off their devs. Then the devs are another level of scammers who sell off their share and leave the project. In all, zero development of the project actually takes place.

[dimonstration]

This is why I am quite always surprised when I see people say that the cryptocurrency market follows circle when they all have different factors that has been controlling them and like some of the things we have here, in 2017, we could see that it was the ico that helped the market to boom, but where is the ico again now?

We need more factors that will still come in like that of 2017 to elevate some of these coins, and moreover, most of these projects came with different purposes that are not tied to each other so they should naturally be independent of each other's factors and if they have real use case, they should all have their own separate season, which is why I tend to study a project very well before investing in it, look at harmony, despite all the bear market, they still had their own increase, so I agree with you that all altcoins have different season.

They have different season since they have different timelines that will influence their advantage in the market, the market and the scammers will be based their performance depending on the team plans and strategy to be alive even if the season is in good or bad shape. However some projects tend to sleep and wait since they don't want to risk, but if team trust their product enough to be develop based in their timeline they can definitely survive it they do more than what expected in their product as investors keep chasing now on legit and useful products, just be aware that scammers also active looking for ways to scam someone so better be oriented on the project specific goals even from the start.

[toast]

This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects

today many investors feel frightened by it all and many investors are hoping that people who take advantage by cheating get warnings or sanctions for their actions and all of that happens because there are no legal or regulatory institutions that can make them do not commit fraud by making project that ended in fraud

[xiboothrezi]

I totally agree with OP's thinking. All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season. We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.

[TheUltraElite]

All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season.

Season for scams. IEOs is same as ICO in part of the scamming method but under a different name. They collect money, do nothing leave the projects to die out and essentially scam every investor before selling off their project to another shady group who now forces a KYC on the investors. Your money, their game.

We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.

Altcoins have only brought some people to get rich, those are the developers and advisors of these scam, the so called "serial ICO entrepreneur"  blah blah, which literally means a failed enthusiast, now broke and trying to scam people.

Adoption is another topic and fraudsters is another. But with increased number of projects there will be increases number of frauds. Better to focus your money on older and established projects.

[jessyj48]

The first strategy of a scammers is how to attract investors by any means necessary, this is why i don't put interest in high rated projects from websites like icobench or icodrops, they are paid to get such high ranks on the websites, apart from been a full time bounty hunter if i have any penny to invest in coins i will go for old projects

[Ararbermas]

There are cases where the founding team are also being seen as scammers from bounty hunters since they will stop the campaign when they fail to raise funds, which in result, turn into stopping the bounty itself and make all our hardwork into waste.

We cannot blame the team if they won't be able to distribute rewards since it's on the rules that if they did not reach the softcap there will be no rewards. With  regards with what OP said, I don't really believe on altcoin season because anytime will be good time for any new projects as long as they are unique with a solid plans and have a better marketing strategies to ignore the current bear market.

i agree because there's a lot of reason why they cant distribute the payment easily and the number one reason is it is because of the situation of the market  , and for me in my opinion we should understand it. Wherein should not judge the project easily because of their performance .  What i mean we should look through their efforts first as well before making a complain. It's not easy to be honest especially if the growth rate of the project suddenly change because of the situation of the market. Which it takes time to recover.  But patience is a virtue. Dont be hasty rather than receiving a token that has no value wherein unacceptable.  Lol

[lousie9]

You have good observations, from some of the points you said are exactly the same as my observations so far about the altcoin market and investment projects. I have observed that in many cases new projects always produce junk tokens and many altcoins lose their value. maybe this can be said to be a market cycle, I mean the market situation that is always changing sometimes above and sometimes vice versa. so, as an important wise investor always researches in detail in everything we want to decide and not because I don't believe in new trends (IEO) but stay alert because something good can turn bad at any time.

[NathanJB]

I would use the phrase failed project because that's what is mostly happening.

How are so sure of what is happening behind the scenes? If there is no proof of the project being developed then its good to assume that the project had failed.

That's why i said the appropriate word to use is failed project and not scam projects, I have read stories of projects returning the fund of ICO Investors back to them or buy back the tokens when their plans towards the project couldn't be achieved. The market is a very competitive one and when you don't have the funds or marketing team to compete, hardly before your project will get notice irrespective of how genuine it's which might result to such project failing that doesn't mean it was a scam.

Many of those projects that failed are not returning their investors' funds. Many are in fact not admitting that they failed. Instead of facing their failures and get back to step 1, to the very reason why their project was made in the first place, to the very problem they wish to address, they instead pursue their project even if they lack the funds, the supporters, the bright ideas, just to keep the money with them. They know that they will fail in the coming weeks or months after their launching but they just won't return the money because they want them. It is only a very tiny percentage of all failed projects that returns investors' money.

[Yaunfitda]

I totally agree with OP's thinking. All have their own seasons like ICO used to be very popular, but now it's not, now is IEO's season. We need to realize that cryptocurrency still has great opportunities to develop. The more people adopt it, the more ways there are to get it. Recently, quite popular is getting cryptocurrency just by playing games and watching videos, it's easy, right? Unfortunately, fraudsters also always follow this trend, they use various methods to fool ordinary people.

But just the same, maybe some business model shift, but know it seems that IEO is also a haven for scammers. IEO has no doubt have been exposed specially in this bear market, and we should all be thankful for that.

But IEO, I have my doubts, so I'm sure this is just another 'camouflage' today. And could turn out to be just like it's predecessors, projects are built to just scam anyone, so I guess the OP is right that we really need to be very careful.

[sirminesalot]

This is normal, any good ideas that new projects uses and turn out well will be use by scammers for sure, its left for investors to remain smartass to avoid falling for such scheme, scammers are very good at copying from other good projects

Scamer and investment with crypto currency is already a risk in investing, by benefiting from other people's losses because investing with crypto currency is very vulnerable with such a lack of power or legal institutions that regulate it all so they are free and easy to do everything something that is detrimental to investors

[darewaller]

The first strategy of a scammers is how to attract investors by any means necessary, this is why i don't put interest in high rated projects from websites like icobench or icodrops, they are paid to get such high ranks on the websites, apart from been a full time bounty hunter if i have any penny to invest in coins i will go for old projects

I used to believe in this site until I realized too that they are all bunch of deceivers who are just doing those rating things to deceive people, majority of the projects that I have participated in through them has eventually turned shit projects which I regret ever relying on them. Right now, I am the rated system myself, because before I participate I any project, I make sure that I do every form of verification on them before I even think off getting my penny into their system.

So many fake projects that we have out there now and majority of them do not have any real working product other than being used as speculative coin for profit purpose, it is only bitcoin that I believe to be a real working product and other top 20 coins that is rated in coinmarketcap.

[fumblingperch]

That is why we will not be able to completely get rid of scammers. After all, where there is money, there will always be those who want to steal them from other people.

[TheUltraElite]

That's why i said the appropriate word to use is failed project and not scam projects,

The appropriate term is scam, not failed. They were scam from the beginning and they will be in future.

I have read stories of projects returning the fund of ICO Investors back to them or buy back the tokens when their plans towards the project couldn't be achieved.

Sometimes the project owners might have better goals in mind and/or got into legal trouble from advisors and other team members who start an internal affairs investigation with local authorities in an attempt overthrow the company. Then they try to do this. Its a lot of dirty politics inside.

The market is a very competitive one and when you don't have the funds or marketing team to compete, hardly before your project will get notice irrespective of how genuine it's which might result to such project failing that doesn't mean it was a scam.

Thats just an excuse to say that the project has failed making it easier from their side. Who cares for those who put in their money in the project? But with bitcoin one would not see these problems because it already having its own use cases and acceptance.

[setialovers]

That is why we will not be able to completely get rid of scammers. After all, where there is money, there will always be those who want to steal them from other people.

Agree, scammers will be there where there is a large turnover of money. The cryptocurrency market has become bigger compared to a few years ago and this has invited many scammers both through hacking or ICO. We must be aware of the various modes that they apply because sometimes they are very detailed when going to commit fraud as happened in the ICO market

[stephanirain]

The altcoin market is a very interesting market when it's operating at its best. When it comes to investing in them just to increase your chances of accumulating more bitcoin or short term investment, you have to understand there's a season for every type of coin. During the 2017 altcoins bull market I observe some interesting trends concerning how the market (altcoins) react which might be of use or serve as a guideline for future market and help prevent you from falling victims to fraudsters and scam projects.

We can't denied the fact the market is still been influence by emotions which you could profit from, that's if you understand how it works. Each type of altcoins had it's season, there was a time only lending tokens were mostly benefiting from the market via price appreciation. Sane with staking/masternode projects as they also had their share of the market. If you were paying close attention to the market you would had observe more and more type of projects based on trending Ideas starter popping up during their season meaning, scammers starts disguising themselves as startups to launch new worthless project just to scam innocent Investors of their funds.

Same observation happened when projects paying dividends started trending, same with projects crowdfunding through Selfdrop instead of ICO, privacy coins also had similar fate etc. Although the current situation of the market isn't encouraging, you still have to be very watchful as this trend could repeat itself at any given time. Understand that scammers are always active looking for new way to scam investors of their funds. When there's a new trend, always be watchful as the chances of getting scammed through that method becomes high. Invest wisely.

The market right now is indeed not encouraging for many investors. But with the low prices of cryptocurrencies right now, it might be the best days to buy and start investing. And in the midst of changing trends as the year changes, the one who can adapt the best will surely survive. We cannot always outdown the market but we could reduce the loses by carefully selecting which we should only invest to. I am not fan of multiple investments anymore for I experienced mistakes of my own. Other strategies can also work too as long as you understand and accept the risks it bare.
Furthermore, scammers are smart right now, and will appear to be legit as much as possible. So, never jump again to something you do not fully see or understand. Measure the fall and calculate the risk so you can hope for the best.

[Aabcde]

Yes they always innovate with the latest circumstances at this time.
Personally, I have stopped investing whether it is, ico, ieo, private sale, and so on because I think that for now it does not produce any profit.
For me, projects that do not provide benefits in the short or long term are also scammers. Because I think that the devs don't have a concern for their investors and all they think about is personal gain.