Reality of tokens

[drumamat]

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.

That's why you should carefully choose an ICO for investment.In addition to checking the team, whitepaper should also pay attention to the domain of the site on which the ICO is held.As for the bounty,imagine that one day everyone who promoted fraudulent ICO will be brought to justice!) Cool huh?).Analyze, analyze and make deliberate steps regardless of whether you are a member of the bounty or invetor!

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[Snowwy]

This is the reality we are currently facing in the industry and this why investors do not trust ICO projects again. Gradually ICO is turning into HYIP which is not good for the industry because it tarnish the image of blockchain technology and cryptocurrency.

[Shasha80]

In the world of cryptocurrency it is very easy to do scams, because the reality is very easy to make ICO projects. So from that
ICO's credibility in the eyes of investors is no longer reliable. Investors prefer IEO to invest their money. No wonder much once
ICO projects have just sprung up now, and sadly most of them are scams. In this case the newbie is very disadvantaged because
do not understand how to distinguish real projects with fake projects. So my advice in choosing projects be careful and always
investigate the projects that will be followed.

[Lauren Smith]

The reality is that none of these tokens are worth anything. They are supposed to be like shares or stocks in a company. But what company? There is nothing. So what are you investing in? Your own greed. I wish idiots would stop promoting these shit projects and realize there is much better out there id you just look. I think people must enjoy wasting their own time.

[ShettyFive]

This is a heartbreaking truth. Fraudsters more and more, it is difficult to distinguish them. Especially newcomers, they don't know anything and are easily lured by scammers. This phenomenon has been happening for a long time, not recently. These scammers damaged the entire ico market and plunged it down.

[TastyChillySauce00]

This is the reality we are currently facing in the industry and this why investors do not trust ICO projects again. Gradually ICO is turning into HYIP which is not good for the industry because it tarnish the image of blockchain technology and cryptocurrency.

Ico is turning as a scam way and it's quite far from being HYIP. Investors have been moving to the IEO project and this is recovering the funding image that has already destroyed by the scammer.

Blockchain should not be mentioned in this case because most of the scam were not even creating blockchain.

This is the reality that is happening in our ecosystem but there should be a way to fix it.

[cahbagus555]

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.

Most of the scams that occur do exist in erc20 due to the easy token creation process. In my opinion, ethereum alliance must be able to prevent this fraud by asking the developer team to provide a guarantee or deposit when they want to sell tokens or at least ask for identity documents so that when fraud occurs can be quickly known.

[Omega Weapon]

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

That is more than enough, as an investor you do not need to be fooled by scammers for a very long time as long as they can deceive you long enough for you to invest your money with them then they have accomplished their mission, scammers are not here in this market to develop anything they are here only to steal money from people and while it will only take an investor one scam to become a lot more careful that scam can be enough to lose all your money.

[zeze18]

This is a heartbreaking truth. Fraudsters more and more, it is difficult to distinguish them. Especially newcomers, they don't know anything and are easily lured by scammers. This phenomenon has been happening for a long time, not recently. These scammers damaged the entire ico market and plunged it down.

This will gonna be always like that if the creation of a token project as easy as right now. People are easily create tokens moreover the erc20 tokens, and the crypto newcomer will be tricked because they know nothing. So i think we can't prevent this phenomenon before crypto is going mainstream , if crypto is going mainstream maybe we can easily spread the information about the scammers so the newcomer won't get scammed anymore

[NathanJB]

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.

Most of the scams that occur do exist in erc20 due to the easy token creation process. In my opinion, ethereum alliance must be able to prevent this fraud by asking the developer team to provide a guarantee or deposit when they want to sell tokens or at least ask for identity documents so that when fraud occurs can be quickly known.

That would have been much better. But the freedom that everyone enjoys within the crypto world is almost absolute that everybody, even a dope addict and a 7-year old kid, is being given the full liberty to create whatever project they wish to, mint coins with supplies and value they alone determine, and offer in the ICO market which is also as open and free.

[adncoin]

This is an example of a skill that could be misused. When we began to embrace decentralization, this is one of the possibilities that have come with it. However, we can teach more members of the crypto industry to be more careful when dealing with these. We shouldn’t put the cart before the horse by prioritizing cryptocurrency as a get-rich-quickly scheme. We should get crypto to become a more viable and available payment method. After that should we worry about getting rich with our crypto investments?

[TanakabZX]

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.

That's the facts about tokens, they are easier as building an HYIP website, this is why we keep seeing many fake projects in crypto space, every single bounty project i see are tokens that is why many of them are failing, i prefer new coin projects over tokens e.g tecra coin or veil project, they are not running on erc20

[Bitbtc8]

The question is, must people invest in new tokens when we have gigantic working products on coinmarketcap? old altcoins with good use case are all over crypto space, investing in old tokens are better

[Nadziratel]

The question is, must people invest in new tokens when we have gigantic working products on coinmarketcap? old altcoins with good use case are all over crypto space, investing in old tokens are better

In fact, you have already stated the best answer to your question. From this point on, the development of working projects that may affect the price is very small. But in new projects, it is possible to see huge price increases, provided you find the right one. That's what attracts people.

[Ajaone]

The money you need to run a scam project in crypto especially at the time when everything is bullish is not that much and it can give you millions if you are skillful in your scammy enterprise. Scammer don't need to even do any marketing as there are readily available bounty hunters who will promote the project to potential investors.

[hahahafr]

That's so true. Most altcoins have turned out worthless as they had no real products in this space. all that they do is just to create hype about their project and lure inexperienced crypto investors into them. Ethereum blockchain network network invented a very good use case of smart contract but this has been abused terribly by greedy project managers

[confreslamp]

It does not cost much to scam people, 1000 USD would be enough to cover the costs for Whitepaper, website, own token and even social media communities with big amount of subscribers, so people are just too lazy to compare new project with solid ones.

[DabsPoorVersion]

That's so true. Most altcoins have turned out worthless as they had no real products in this space. all that they do is just to create hype about their project and lure inexperienced crypto investors into them. Ethereum blockchain network network invented a very good use case of smart contract but this has been abused terribly by greedy project managers

That is because of the freedom they gave to create a coin easily, smart contract has become the root of all scam project. If ever that they can add features on creating a coin with additional security not to the developers but to the possible users, this may be able to increase alertness and to avoid making a new project with an intention to scam the community.

[Fappanu]

For 50 $ invesment of scammers they will earn millions of dollars, And this is sad because people who know how to create websites and erc20 tokens will exchange their dignity just to earn 50 $. it's sad to think about it but hopefully people with skills in this field will have your conscience, because you also have the participation of why investors are also victimized especially bounty hunters who have suffered to promote such shit campaign.

[OasisDre]

This is the reality we are currently facing in the industry and this why investors do not trust ICO projects again. Gradually ICO is turning into HYIP which is not good for the industry because it tarnish the image of blockchain technology and cryptocurrency.

Its not safe to invest in any ICO now that scammers have taken over crypto space, its better to invest in coins that use different blockchain and not smartcontracts like erc20, the easier they are to built the better for scammers