Reality of tokens

[Absolutep]

It is really sad to see things like this going on in the crypto world. Everything is getting worse by the day and no one is able to do anything about it, i am not surprised that scammers are increasing on daily basis.

[1715186599]

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[1715186599]

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[1715186599]

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[InwardContour]

It is really sad to see things like this going on in the crypto world. Everything is getting worse by the day and no one is able to do anything about it, i am not surprised that scammers are increasing on daily basis.

Most projects will never achieve 10% of what's on their roadmap. It's funny that new projects keep sprouting up on daily basis, I think many utilize such cheap services to come up with especially ERC20 tokens and website to scam people. Some will even go as far as designing a fake MVP, thereby making investors hope for main product launch. It's obviously a sad reality my dear.

[ImSuparmin]

not all tokens that we have really exist on the market, a lot of tokens that we have only become invaluable junk and who knows how long the tokens will be on the market, I am very confused by all this, why do some tokens become trash, can anyone explain?

[minairia3]

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

Making ICO very easy for those scammers, but if they want to do it seriously, then they need a lot of capital. For example, make a project about exchanges. I think not enough money with $ 50.
So, if we want to choose ICO investment, then we should be able to see which projects will run their business seriously.

Why not? I think its easy to set up a website or platform that isn't working yet, and just mentioned soon it will be up or downloaded via apps. Scammers would never let you feel they are scamming the community. This is their skill and they know how to handle marketing and peers for gaining trust, even how long they need to do it. Yes, lots of projects are suspicious, so better resort to IEO than ICO to be more safe.

[ajiz138]

This makes it very easy for scammers to develop their scamm projects and deceive everyone. Making ICO tokens and websites requires only $ 50 capital. Anyone can make it. All that's left is to add a support group and post it to the forum. but the most difficult and cannot be duplicated is whitepaper, because all project objectives are in whitepaper.

[TheClownSong]

not all tokens that we have really exist on the market, a lot of tokens that we have only become invaluable junk and who knows how long the tokens will be on the market, I am very confused by all this, why do some tokens become trash, can anyone explain?

Agree that many tokens have become junk and even the project has been abandoned by the developer team. This happened because the developer team failed to deliver the roadmap and also the target in the whitepaper. In addition, there are also many developer teams that have aimed to deceive investors from the beginning and carry off the money from the sale of tokens

[Bitbtc8]

This is the reality and this has really damaged the whole ico market and also has imapcted overall crypto market very negatively, the only way out i see is that there should be some centralized registration and licensing authority that should only allow icos that fullfill minimum quality, kyc and use case parameters.

Its damaging all crypto entirely not just ICO, people are investing in ICO and IEO mostly because they prefer short term profits unlike when investing in old altcoins that mostly requires long term hold, if crypto is going to see better adoption this space have to be scam free

[FanEagle]

This makes it very easy for scammers to develop their scamm projects and deceive everyone. Making ICO tokens and websites requires only $ 50 capital. Anyone can make it. All that's left is to add a support group and post it to the forum. but the most difficult and cannot be duplicated is whitepaper, because all project objectives are in whitepaper.

Lol, I wonder what they are establishing that is making them quote such big amount of money for the project, and even the campaign they claim they pay for, do they even pay for it that much. The only projects that I see should require big amount of money are projects that would want to establish a real life project like plants or farm which requires the use of physical material and labor which we all know is quite expensive.

When you see these project quote millions of dollars, you will think they are going to create a very big massive physical projects, and this is why majority of them end of scamming, and like one of this forum mates once said that, they would rather go with the money, than to do anything or spend anything from the money when they know they cannot even get the profit in 20 years.

[barnes13]

This is pretty scary for those who are beginners and want to invest in crypto. If they are not aware of this and make random investments in new projects, they can become the next victims. Actually this is the importance of learning the utility of a project token, if they cannot explain it in detail and only make tokens without clear benefits to the community, then there is a possibility that they only use services like this. Especially if they also don't provide whitepaper, team background, and other important materials on their announcement threads, this will increase our suspicion of them. It's really ironic, I hope those who intend to commit fraud in this forum can be immediately caught up with reports and speculation conducted by members of the forum.

[Lauren Smith]

Token market has become very similar to HYIP market where you can simply buy a php script and hire a designer make a website for you. It's even simpler for ICO market because you won't need any script, just wordpress hosting will do the trick.

 It's really sad that cheaters are targeting crypto market as well in big numbers. That's the main reason why ICO market has lost its credibility! People need to understand that tokenization of everything will only lead to big disaster!

You can't just blame the scammers. They spend like $100 for an ico package software and host it. If people are too silly to believe such a lot of rot and garbage that is thier business and their own problem. You cannot continue to blame the scammers. People should know by now. Those that do not are just foolish.

[auntyjmary]

People are mostly moved by hype and what they see trending on social media. The same way goes with tokens that created by most projects. By now, it is obvious that most people are into crypto mainly for the money and not the beauty of blockchain technology. This simply explain why people are easily lured or scammed by cheap tokens.

[zhengqi]

The reputation of the ICO is very spoiled. Tokens are really not needed by anyone right now. In addition, scammers come up with new ways to steal money from people.

[dimox]

they can make everything with money. you just need new product/ico and than prepare all the untruth. you can ask someone who scammer too to create what you need. and than it will give you big profit from ico.

People are mostly moved by hype and what they see trending on social media. The same way goes with tokens that created by most projects. By now, it is obvious that most people are into crypto mainly for the money and not the beauty of blockchain technology. This simply explain why people are easily lured or scammed by cheap tokens.

as time goes by, people will realize different between the past time and now. and the most of them firstly, do anything for money, than for the system

[nomenclatur]

make a token very easy for those who want to plan their deception will continue to make a token and making false and program team prize with a grand prize that many projects follow them fool all investors with the promise of a sweet reality are all fake and traps to get money investors. bounty hunters are often used to advertise freely their projects for free.

[Omega Weapon]

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

What an awful thing, it is precisely because of things like this that the interest in icos is never going to be high again, if they can invest only 50 dollars to create their coins this means that in order for this scam to be profitable the scammer only needs to deceive one person and that could be enough to give him profits, and once the scammer gets profits out of this he is incentivized to keep doing it, and this is probably the cheapest service out there, there must be other services that charge a lot more than that to create a fake coin that will pass many of the checks we will make to try to detect scam projects.

[deathcode]

make a token very easy for those who want to plan their deception will continue to make a token and making false and program team prize with a grand prize that many projects follow them fool all investors with the promise of a sweet reality are all fake and traps to get money investors. bounty hunters are often used to advertise freely their projects for free.

it's not that easy, now people are smarter to invest. let alone to buy tokens or coins in the long run. because most tokens don't last very long. after 2 years they lost their moment and no more updates were heard. only for good projects that can compete in the market and maintain their concessions in the market. the project will continue to run and their tokens can survive in the market.

[electronicash]

make a token very easy for those who want to plan their deception will continue to make a token and making false and program team prize with a grand prize that many projects follow them fool all investors with the promise of a sweet reality are all fake and traps to get money investors. bounty hunters are often used to advertise freely their projects for free.

it's not that easy, now people are smarter to invest. let alone to buy tokens or coins in the long run. because most tokens don't last very long. after 2 years they lost their moment and no more updates were heard. only for good projects that can compete in the market and maintain their concessions in the market. the project will continue to run and their tokens can survive in the market.

once there is no development to the project for a month, i think you can already consider  it scam. there are plenty  of them  but are still trying to make it alive by having a volume to the pair they  have  in the exchange. but that's just it. you'll see its dead when the project just have less than $5k volume. people  will gradually exit to  save the  money they have and just say goodbye.

this is why scambuster and the ones who check fake members of the team are  better to stay in the forum to  make it safer for new investors.

[huu78]

Indeed such a scammer work but it's been there for a long time. So it is important that before entering into their project in advance review whether their team and project are real? If yes, just check like a roadmap, whitepaper, etc.
Looks usually which ones just want a scam and actually develop their project. We just need to be careful not to get stuck.

[Convery]

It shows how worthless these tokens are. But still it is very profitable for creators, not for investors. When you pay 50-100$ for creating a new token with a website and then you achieve at least 300k USD market cap, you earn quiet a lot of money.
And about the marketing and community, you don´t have to pay it, you simply manage a bounty campaign and you have everything what you need for achieving the market cap mention above.

[biddicoin]

It shows how worthless these tokens are. But still it is very profitable for creators, not for investors. When you pay 50-100$ for creating a new token with a website and then you achieve at least 300k USD market cap, you earn quiet a lot of money.
And about the marketing and community, you don´t have to pay it, you simply manage a bounty campaign and you have everything what you need for achieving the market cap mention above.

it maybe can fool investors temporary, but not all time. i believe that investors are getting smart and smarter everyday
last year may we see many investors lose in this bad coins, but it isnt continously
you can look that the shit tokens are rapidly reducing. it shows that investors learn from their experience