Enough of repetitive projects and old ideas

[Blue_oxen]

Not much you can do when investors are still gullible enough to invest into those and bounty hunters are greedy enough to work for them.

If I create a new project right now with about 210 million token cap and tell people that I will give 100 million of it away, 80 million to investors and 20 million to bounty hunters and the price of that coin will be 0.1 cents on the market when it first starts, all I have to do to convince people is to pay them and have a great marketing, as long as I have a good team I can convince them.

Even if my whole idea was a scam and I just wanted to steal their money and get paid and just take that money and leave, I could even leave the project behind to someone who wants to rule it and I would be out of all the trouble as well and still live with the millions of dollars I made from it.

Right! That's just so complicated. Even investors and bounty hunters can't clearly distinguish between scam projects and new potential projects. It's hard for all of us. It's even harder for investors if we ask them to invest their money in something totally new (that is likely to be a scam one).

[TanakabZX]

Developers should stop if all they have are old ideas or repetitive projects, we have over 7000 altcoins in crypto space, that's more than enough and even out of those 7000 altcoins 90% are bad projects, enough is enough, if no new ideas just stop.

[irixo10]

Those that copied others before now are already dying while those currently copying others too, will soon join their counterparts and die too, it is not rocket science but just the truth, because the team who copies other projects can't sustain it owing to the reason they don't have the right knowledge and experience. Also, reason why most of these copied project tends to boom in the early stages is that they try as much as possible to build enough hype since most people likes hype, they will be attracted to get their own share of the platform, most times they might succeed and most times they might not, thus showing that this behaviour of copying projects will still continue for while. Am not supporting it but that's the nature of things now, and yes we need new ideas.

[jessyj48]

Crypto space is a free haven where no law can hold anybody for building or creating projects, we the investors are the only thing that can stand against bad projects, when they do show up we have the right to ignore if they aren't good enough, we are the police of ourselves in crypto space, the ball is in our courts, bad projects will keep coming, be ready

[giammangiato]

Many new altcoins will die in the future because there won't be many investors investing money on them and as we know it we have many scammers here who will keep creating useless tokens and coins, if you are a developer and you think you are serious enough then try as hard as possible to come out with something new and different, enough of repetitive projects and same old ideas

Bring in something NEW or don't bother at all

You are right, there are too much projects with the same fundamentals and in a overpopulated market only the coins with good marketing behind can survive.
An idea is create collaborations for have an ecosystem when spend this coin, better if with benefits

[Stanlo]

All we need to do is learn to avoid such projects, leave them be and watch while they bleed out, stop warning developers about creating repetitive projects, they are looking for fast way to make money so all they can do is steal from other projects, it's only a matter of time before the projects end up dead

[rodskee]

All we need to do is learn to avoid such projects, leave them be and watch while they bleed out,

Without any supports the project will just fadeaway, it will die eventually and be forgotten.

stop warning developers about creating repetitive projects, they are looking for fast way to make money so all they can do is steal from other projects, it's only a matter of time before the projects end up dead

Scam developers will keep popping up and keep producing coin that's being copied from other existing
projects, trying to scam newbies and greed investors.


Do your research and stop patronizing projects that only after with quick profits it will only lead you to
lose your money.

[Hellkas]

A lot of people heard about cryptocurrency because of 2017 bitcoin price hype and many developers and companies wanted to have their own cryptocurrency as soon as possible, but there was no time to create something really worthy, so we have a lot of similar projects and only few of them are really innovative and can be used for problems solution

[DDante]

Not all scam projects are full of repetitive ideas, for example in 2019 we hoped for a new fundraising projects to take over IEO because it's not as successful as ICO was in 2017 and scammers sees this as a weak point and scam project like IMO came around, I was so hooked because it's something entirely new but yet I end up getting scammed

[leea-1334]

One truth we seem to neglect when criticizing repetitive project is that the blockchain preaches freedom, which is the all mark of decentralization. We cannot just rebuff of old projects that are repetitive; we also need upgrades. The question should be, are new repetitive projects more remarkable than old existing ones? Is it superior in operation and terms of use ?

You are right in this sense. Blockchain freedom means the ability to do whatever you want to do, even if it is just to copy and clone. BUT the idea of that and open source is that people should adjust and improve, not just make something identical with no added value. And that is the problem of new projects in general. No value, just stressing the blockchain and flooding the market with more crap.

[Vishnu.Reang]

A few months back, I talked to one of my friends on this subject. I asked him why we are getting repetitive projects. His answer was really simple. Although it may not be advisable to copy successful projects, it may be a good idea to study the failed projects and implement them in a better way. We can find a lot of interesting ideas among the failed projects. They failed due to issues in implementation and attracting investors. We can't discourage someone, if he comes up with a similar project with a better plan at implementation.

[Clegive8V]

Many alternative currencies are duplicates of the major currencies, which we can classify as 20 cryptocurrencies and all other altcoins are duplicates of those currencies.
all of them or most of them are open source so no one can prevent them from creating new coins.
we should stop investing in any new unknown coins and start support well known coins.
if all stop random investing in those projects most of devolpers will make more effort.

[bayudndy]

A lot of people heard about cryptocurrency because of 2017 bitcoin price hype and many developers and companies wanted to have their own cryptocurrency as soon as possible, but there was no time to create something really worthy, so we have a lot of similar projects and only few of them are really innovative and can be used for problems solution

I think Binance Coin (BNB) has the potential to defeat ethereum price movements because BNB has a very good platform development and with a good platform will have an impact on price movements at the exchange, supply from BNB is also very limited meaning when the BNB is increasingly difficult to obtain will be expensive, so don't miss a golden opportunity from BNB.

BNB will grow constantly, but I do not believe it can beat ETH in this market. It is too difficult for it to happen and ETH will always grow. In the next 2-3 years I think BNB may be one of the top 3 altcoins in this market

[BAGOBO]

to make an investment, many considerations need to be done. Not just a sweet promise but also see how the team, whether trusted or negative. You can make consideration by checking the account LinkedIn the project team. if all is good I think investing is a good deed and you will avoid scammers.

[milandres0207]

Many new altcoins will die in the future because there won't be many investors investing money on them and as we know it we have many scammers here who will keep creating useless tokens and coins, if you are a developer and you think you are serious enough then try as hard as possible to come out with something new and different, enough of repetitive projects and same old ideas

Bring in something NEW or don't bother at all

Scammers will not be gone actually. It will always be there as long as there is money involved in the projects.
Even how many times we do remind the community here in the forum there are still remained others to risk their capital
in the project for sure because of the greediness they have in their heart and mind.

[gwaposakon]

you are right. The crypto space is very crowded right now with projects that are similar to each other. It means that blockchain technology is getting more mainstream. But it doesn't mean that each project would be just a copy of another. I really admire developer who can still think of unique projects despite the saturated market.

[memed97]

Not all scam projects are full of repetitive ideas, for example in 2019 we hoped for a new fundraising projects to take over IEO because it's not as successful as ICO was in 2017 and scammers sees this as a weak point and scam project like IMO came around, I was so hooked because it's something entirely new but yet I end up getting scammed

Yes, indeed not all projects are scams, including the ICO project in 2017, as well as the IEO project in 2019, not all of them were successful, especially what made them scammers who used the weaknesses of the project to be used as a field of fraud.

[GelsoAM]

It's true. Most projects out there has similar ideas. Which means what? It means that the coin is practically useless or has a chance small as a grain of sand on getting a lot of attention. So, These coins will die basically when it hit the market. So be creative.

[Zackgeno96]

you are right. The crypto space is very crowded right now with projects that are similar to each other. It means that blockchain technology is getting more mainstream. But it doesn't mean that each project would be just a copy of another. I really admire developer who can still think of unique projects despite the saturated market.

There are many similar projects in crypto space what really matters which team is developing those projects, if that team is having a good past with previous projects or are doing good with their current projects then it is good for the project. The team really matters if two projects are having same features as the implementation is gonna be completely different in both the cases and the better team will definitely get better results as compared to the other team which are in it just for making money.

[umbara ardian]

Not all scam projects are full of repetitive ideas, for example in 2019 we hoped for a new fundraising projects to take over IEO because it's not as successful as ICO was in 2017 and scammers sees this as a weak point and scam project like IMO came around, I was so hooked because it's something entirely new but yet I end up getting scammed

From the outset, the IMO project has been heavily warned by experts at this forum. And I'm really surprised if you don't see it. They came up with a new idea but it looked ridiculous. As a result, the project quickly became a scam and disappeared from this market