Dariusburst (OP)
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July 17, 2020, 08:34:18 AM |
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I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects 2. Gold backed tokens 3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
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Tipstar
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July 17, 2020, 08:41:35 AM |
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Scammers uses catchy and popular concepts to get easy money from gullible investors. They don't do much work and just copy pastes others work with some slight change. Other popular scams except the ones mentioned by OP at the moment are 1. Masternode coins - 90% of them are just scams. 2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
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20kevin20
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July 17, 2020, 08:48:29 AM |
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Main problem isn't the use case of a coin. It's the fact that most coins don't even get to fulfill their main purpose and so get dumped and abandoned before they even start being developed properly, if at all.
Scammers won't give a damn about the utility of their coin; the only thing that matters to them is that the price rises enough to be able to sell a large quantity and abandon the project with a big bag of $.
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New_order
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July 17, 2020, 09:24:16 AM |
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1. Masternode coins are scammers favorite too. 2. Real Estate projects are scammers favorite too. 3. New exchanges are also used by scammers too
Anything that's very easy to fool investors will be on scammers list for sure, it's easy to detect fake masternode projects because they promise huge ROI, mostly too good to be true and do not trust new exchanges too unless they are transparency
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DarkDays
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July 17, 2020, 09:31:23 AM |
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Most staking cryptocurrencies are also used by scammers. Anything with more than 90% of its circulating supply staked with no real use case for the token is almost certainly going to fail.
I'd also stay away from anything offering staking rewards of more than 7-8% per annum—even this is quite high. Something like 3-4% is good, but 1-2% is ideal.
Anything yielding more than 8% or so has much too high inflation to survive as a cryptocurrency, given that the most popular cryptocurrencies like Bitcoin, Bitcoin Cash, etc all have gradually reducing inflation (halving events).
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Maxstl007
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July 17, 2020, 09:37:22 AM |
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When something is too good to be true in crypto space or in real world don't just think it twice, it's a scam, scammers are very fond of giving investors attractive offers, if the offers aren't attractive how will people build interest? Greed lives in all
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matchi2011
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July 17, 2020, 09:48:31 AM |
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Scammers are good enticing the investors, creating good and attracted projects that based from whatever is trending from the market, they can easily gained attentions since they really understand the emotions of every target venues that they'll going to offer. The common mistake of the investors is being move without doing proper research especially newbies who thinks that investing is as easy as it is.
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Kupid002
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July 17, 2020, 09:51:26 AM |
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I learnt my own lesson about some useless use cases in crypto Projects through Airdrop hunting. I have something against the following use cases like
1. Artificial Intelligence projects 2. Gold backed tokens 3. Deflation tokens
Why? They hardly survives because they are mostly based on lies, these use cases are scammers favorite tools to deceive
not only that they are always copying the idea of a successful projecy so they can also feel the success when they are the one who launch it. Like exchange or gambling website they also have this idea its depend to them what they think will work so they can easily have money from investors.
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k@suy
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July 17, 2020, 09:58:56 AM |
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Scammers are good enticing the investors, creating good and attracted projects that based from whatever is trending from the market, they can easily gained attentions since they really understand the emotions of every target venues that they'll going to offer. The common mistake of the investors is being move without doing proper research especially newbies who thinks that investing is as easy as it is.
Scammers are indeed smarter than the investors. They have a lot of techniques that they can use on tricking the investors to encourage them to fall on their scamming schemes that's why as an investor or trader we should double check the background of every person we are transacting with to avoid scams and casualties.
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andulolika
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July 17, 2020, 10:01:02 AM |
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You said it well "projects" "tokens"
BTC XMR XLM ETH POWER
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Sourhearrt
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July 17, 2020, 10:06:03 AM |
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What about gambling platforms in crypto space? They are almost complete scam projects and even those that works today have team that are dubious and they can rob you of your jackpot rewards, I've seen such claim where someone earned 1 BTC and the team sent him 0.5btc telling him to manage it. Lol
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andulolika
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July 17, 2020, 10:23:42 AM |
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What about gambling platforms in crypto space? They are almost complete scam projects and even those that works today have team that are dubious and they can rob you of your jackpot rewards, I've seen such claim where someone earned 1 BTC and the team sent him 0.5btc telling him to manage it. Lol
That sounds strange as fuck, there are indeed sketchy casinos out there but most crypto casinos that passed the test of time are legit WAY more legit than any physical one. Even some new ones are cool.
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Greatdev
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July 17, 2020, 10:32:10 AM |
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What about gambling platforms in crypto space? They are almost complete scam projects and even those that works today have team that are dubious and they can rob you of your jackpot rewards, I've seen such claim where someone earned 1 BTC and the team sent him 0.5btc telling him to manage it. Lol
That sounds strange as fuck, there are indeed sketchy casinos out there but most crypto casinos that passed the test of time are legit WAY more legit than any physical one. Even some new ones are cool. Not that strange to me, even few popular online casino projects on this forum turned scam and cheating their users too, some legendary members and hero members once wore the project signature on this forum, new online casino projects can't be 100% trusted
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Tomohisa
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July 17, 2020, 10:36:45 AM |
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Scammers uses catchy and popular concepts to get easy money from gullible investors. They don't do much work and just copy pastes others work with some slight change. Other popular scams except the ones mentioned by OP at the moment are 1. Masternode coins - 90% of them are just scams. 2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
Agree about masternode coins. The majority of them soon become a fail project and their coin price becomes very low to the point your masternode running under a loss because of hosting fee. The team knows quite well about it but they don't care since they already got a lot of money of the pre-sale masternode.
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minairia3
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July 17, 2020, 10:41:15 AM |
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You know what they will try next? Probably decentralized finance concept. Because its the new trend now. What you mentioned are not actually cacthy on some investors and traders eye.
None artificial intelligent project survive in the long run, and can you give example of this? Also gold backed tokens are pure lies at all. None of any of these projects really are backed by gold as it stated that its not inder any provision of approved sector to fully backed tokens by physical gold.
I have no idea on deflation token and nor care. I think its just a waste of money for investment.
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KaratX
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July 17, 2020, 10:41:23 AM |
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Scammers uses catchy and popular concepts to get easy money from gullible investors. They don't do much work and just copy pastes others work with some slight change. Other popular scams except the ones mentioned by OP at the moment are 1. Masternode coins - 90% of them are just scams. 2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
Agree about masternode coins. The majority of them soon become a fail project and their coin price becomes very low to the point your masternode running under a loss because of hosting fee. The team knows quite well about it but they don't care since they already got a lot of money of the pre-sale masternode. True, it's presently happening with IQ Cash project and they introduced bounty campaigns two month ago, the problem now is this masternode coin has less value now, from 0.33$ down to 0.03$ and I heard it was more than 0.33$ before, masternode coins are such a failure
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KaratX
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July 17, 2020, 10:43:06 AM |
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You know what they will try next? Probably decentralized finance concept. Because its the new trend now. What you mentioned are not actually cacthy on some investors and traders eye.
None artificial intelligent project survive in the long run, and can you give example of this? Also gold backed tokens are pure lies at all. None of any of these projects really are backed by gold as it stated that its not inder any provision of approved sector to fully backed tokens by physical gold.
I have no idea on deflation token and nor care. I think its just a waste of money for investment.
The next scammers tool will be DeFi projects, I personally is waiting for that day where we will start seeing new bounty projects showing off only DeFi use cases, I'm currently promoting DIA which is a data based DeFi project simply because it isn't new
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StreakW
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July 17, 2020, 10:57:13 AM |
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I think Masternode and new exchanges are more favorite tools for scammers. If you see this topic https://bitcointalk.org/index.php?topic=5212811.0. many people talk about BCNEX exchanges. This is most hype exchanges project and becomes scam. It was very sad when the project already popular and many people trust it, and team decided to scam people
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amos77978
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July 17, 2020, 11:03:01 AM |
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Scammers uses catchy and popular concepts to get easy money from gullible investors. They don't do much work and just copy pastes others work with some slight change. Other popular scams except the ones mentioned by OP at the moment are 1. Masternode coins - 90% of them are just scams. 2. Exchange coins - Don't believe any exchange coins as good exchange would always bring their exchange first and issue the ICO on their own exchange.
just like what you've just said.. I was opportuned to work as a better tester for a new exchange that list only slp and erc20 tokens.. these guys have already built there exchange from scratch international internally generated funds.. and are currently listing slp tokens.. it made me wonder why so many projects requesting funds in order to build a exchange
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Oasisman
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July 17, 2020, 11:24:45 AM |
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Exchange coins is the most popular IMO. The most common indicator of scammers are the unrealistic ROI's or a bit higher than what's considered as normal/standard rate of returns. Since this will catch the attention of the naive investors. Also, I don't easily believed in cryptocurrency backed by gold.
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