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Author Topic: Too many projects is bad  (Read 421 times)
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December 22, 2019, 05:10:47 PM
Merited by CryptopreneurBrainboss (2)
 #1

The thread is self moderated, though I would not be removing posts except if they are really terrible, it has nothing to do with whether you agree or disagree with me.

The other day, I read a post which the poster said:(i am not explicitly quoting the OP though)that if the altcoin market manages one good project out of the many that it produces daily, then it's a success for the altcoin market(i am not against his opinion, but I disagree)
Searching for good altcoin projects is now similar to looking for a needle in a haystack, you either get tired or exhausted and quit looking, or you find it after a terribly long, long time, this is synonymous to what altcoin investors will have to go through/and are going through, and it can only stop when the good projects are the only ones investors are attracted to.

But since the market is decentralized, and you cannot really prevent anyone from creating shitcoins, what can then be done to promote only the good projects, imo investors should avoid new projects for a while, they either are coming out with the same plan as the previous ones and will only fail just as their "predecessors" did, and focus more on the projects that are already in the market, picking out the few that are good and investing/promoting them. If new scam projects are not getting any substantial investors, I believe the good ones that are in circulation in the market already would improve and more good projects could sprout up from them.

Other valuable suggestions are welcomed, let's have a quality discussion.

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December 22, 2019, 08:16:41 PM
 #2

As far as this forum is concerned, Imo I would have suggested that the admin can also ensure that scam project are not allowed to advertise here but I think I have also seen some bounty threads being tagged as warning for participants (or maybe they should just remove such thread entirely).

On the other hand, is difficult to ascertain scam project at the beginning.
I advise that participants could choose to follow certain legit managers and managers that are producing scam projects will be alone to themselves and pack up with time  Grin

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December 22, 2019, 08:36:53 PM
 #3

But since the market is decentralized, and you cannot really prevent anyone from creating shitcoins, what can then be done to promote only the good projects, imo investors should avoid new projects for a while, they either are coming out with the same plan as the previous ones and will only fail just as their "predecessors" did, and focus more on the projects that are already in the market, picking out the few that are good and investing/promoting them.

You won't really change anything for this one either. Even if we choose not to promote bad projects in the market other people will do it for them in exchange for getting paid or a stake from their ICO that is why promotions for ICO projects are very effective since every member who has a social media account, can wear a signature, or a Youtube and Medium account can participate in their bounty campaigns just to promote their project. Honestly if the project isn't a scam but just a very bad project they can still find success on earning a lot of investors just because of their campaign, talking bad against a project without any solid reason to stay away from it will just make the project more interesting for others so really you can't change the course for this one as well. Maybe the most realistic approach here is for the investors itself to be smart on where they would invest and avoid these types of projects so they know that shitty projects have no place in the market.

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December 22, 2019, 09:44:28 PM
 #4

Unfortunately, this is the reality of the market. Too many scams. But not everything is fraud. Unfortunately, the subcoins that are traded in the Exchange can be out of control. You need to solve it. The solution to this is only when the team supports their projects. They need to keep track of the price.

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December 22, 2019, 09:45:24 PM
 #5

First of all, it is possible to encounter any kind of projects in the decentralized market, but excluding new projects is not the solution, it is just like cutting them off. This year, the market hosted a successful project like ATOM, would it be better if we excluded it? I think no. Actually, I do not know what the solution could be. Also, investing only in Binance IEOs would not be a right idea as some newbies' proposals. Maybe we should find a way to inform the majority and keep them awake.

 
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December 22, 2019, 09:51:33 PM
 #6

Yes indeed, I've been doing some bounties lately & many of them just run away lol.

The ICO business i doomed to failure unfortunately, even the good ones are affected by the sum of the SCAMs made buy the ICO last couple months / years. I know 2 projects were good but failed to even gather the soft Cap.

Sad business for the cryptosphere, now it's time for the IEO that are launched in famous exchanges, flip them o decent RI, rinse & repeat.

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December 22, 2019, 10:28:45 PM
 #7

Unfortunately, this is the reality of the market. Too many scams. But not everything is fraud. Unfortunately, the subcoins that are traded in the Exchange can be out of control. You need to solve it. The solution to this is only when the team supports their projects. They need to keep track of the price.
What do you mean the team must have a Buy Back program? If the team keeps track of prices I think they must have the program, it can make the project stronger in terms of trust in the community

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December 22, 2019, 10:33:11 PM
 #8

I partially agree because it’s hard to find good projects buried in a sea of scams or bad projects, but this is a true free market. It’s actually more of a free market that a government regulated market that is called a free market.  We just have to accept the bad with the good.

 
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December 22, 2019, 10:46:17 PM
 #9

As far as this forum is concerned, Imo I would have suggested that the admin can also ensure that scam project are not allowed to advertise here but I think I have also seen some bounty threads being tagged as warning for participants (or maybe they should just remove such thread entirely).

On the other hand, is difficult to ascertain scam project at the beginning.
I advise that participants could choose to follow certain legit managers and managers that are producing scam projects will be alone to themselves and pack up with time  Grin

It's very difficult mate. Truly the admins can help regulate and sift projects but then in the early stages how can you know if it's real or fake. There should be a mechanism or model developed to mitigate scam projects, I guess we are still looking for the right equation to balance the model. Sooner or later it will happen anyway

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December 22, 2019, 10:47:36 PM
 #10

So many fake projects out there, I totally do agree but despite the fake ones there are still good and amazing projects out there which have good team and good market volume all needed is research.

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December 22, 2019, 10:51:04 PM
 #11

There is a lot of failed projects and the most difficult part is how do you get to know the good ones. Some shit projects tends to start very well , list IEO in a good exchange and end up making investors to loose their funds. The rate of dead and failed products is alarming.

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December 22, 2019, 10:58:18 PM
 #12

Unfortunately, this is the reality of the market. Too many scams. But not everything is fraud. Unfortunately, the subcoins that are traded in the Exchange can be out of control. You need to solve it. The solution to this is only when the team supports their projects. They need to keep track of the price.

It's very bad. They all appear professional, reputable and promising in the beginning but to your biggest surprise, they are just low life thieves packaged in tuxedo to Rob a bank. Some few hours ago, they wear making desperate movies to act a buy back to lure unsuspecting victims back to their project and I hope no one will fall for such gimmick.

Investors need to be careful and very critical of where they invest in this space till there's some sort of control over this crypto market at the very least

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December 22, 2019, 11:02:37 PM
 #13

Crypto is a global, free and decentralized market. There's no tool or authority that could limit the number or nature of crypto based projects.
Crypto too has became a broad subject ranging from mineable coins to non-blockchain tokens. We can't even make people stop using the name.
The only thing we can do is research for ourselves and take a decision based on our intuition.



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December 22, 2019, 11:11:34 PM
 #14

As far as this forum is concerned, Imo I would have suggested that the admin can also ensure that scam project are not allowed to advertise here but I think I have also seen some bounty threads being tagged as warning for participants (or maybe they should just remove such thread entirely).
Admin of course do that, but only limited for forum ads, if you're talking to bounty campaigns or project Ann, the n community volunteers do the right thing and make a scam accusation against those scam projects.
The user/investor/bounty hunter should be responsible for his/her move before joining on any project posted here.

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December 22, 2019, 11:14:29 PM
 #15

-snip- if the altcoin market manages one good project out of the many that it produces daily, then it's a success for the altcoin market
Probably, it is difficult to define "good project" because so far many good projects are offered, but they end as same in the dumped price. I also agree with your interesting quote:
Searching for good altcoin projects is now similar to looking for a needle in a haystack
It means that it is so hard to find whether the team offers promising profits and investment, in fact, so far, many projects are failed or worse to be a scam. That is why I'm personally very careful when going to participate in the new projects. I do not mean to underestimate the new projects, but it is better to be more careful in choosing them in order to avoid the scam, failed projects, or even dump coins.

What do you mean the team must have a Buy Back program? If the team keeps track of prices I think they must have the program, it can make the project stronger in terms of trust in the community
Unfortunately, not all of the team of new projects will do that tracking. Or even they do such tracking of the price on the market, they cannot do many things because the price really depends on the market, token holders, and also the investors.
Actually, I am also interested in the project with the "Buyback program". But unfortunately, there are only a few projects that will do the same.

Last words, I only expect (everybody also) that the crypto market will run better again, offering the product with the real use case and proven enough. Also, there may be some new tighter regulations to avoid scams (even it is very difficult).

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December 22, 2019, 11:18:02 PM
 #16

of course , too many project is bad , since investor just a a few people .
and also , mostly , project come just a few with great idea.

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December 22, 2019, 11:20:03 PM
 #17

Well you said that we're in a decentralised system so it's really hard to control everything that's been going on, specially project sprouting out (whether good or bad) in the market. And the thing is, scam projects has really put a dent and has a domino effect specially to those projects who is good and the team behind has a good intention. So it's a dilemma that is hard to solved, sad to say.

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December 22, 2019, 11:41:04 PM
 #18

In fact, we will only need a few projects that will solve some problems. A large number of projects we do not need, because most of them a priori will be unsuccessful. But we can't do anything about it unfortunately.

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December 22, 2019, 11:43:54 PM
 #19

Not all projects are bad but we gonna say these one of them are not trusted.
Because of this happen right now we always experience and encounter one of them in the bounty altcoins.
And Ill did not expect also this would be happen in the time of bull in a past year ends that would have so many projects are they same platform and in the not totally succeed on the project it have.


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December 23, 2019, 01:33:58 AM
Merited by tk808 (10), CryptopreneurBrainboss (1)
 #20

The growing number of fraudulent projects is also caused by our lack of education as a bounty hunter or investor to find out whether the project is a fraud or a good project that will pay.
Research needs to be done before joining the bounty or when you want to invest. In the beginning, the project will be very promising and look professional. but, behind all that there is a scammer who is eyeing your money and will deceive you.

ICO and IEO both have many professional scammers controlled by 1-2 people and there are even a group of scammers who are already professional. Our job is to report every project that is indicated as a scam.
You can also check the projects that you are taking part in the SCAM ACCUSATIONS Sub Forum section.


The last thing I can say is, not all new projects are con artists, there are some new projects that really need to be supported and get priority, get to know the project and do research. the ICO Review Website will also be available if it has been registered.

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