Altcoin very Big problem

[Maestro75]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

I understand your point. Even alot of this projects compare one another, from their whitepapers to the roadmaps. It is copy and paste with no further inputs as to what to pursue in developing the projects. The rate by which this projects come to the markets is alarming for me too. There is no checks on them to see which are fake or not. The absence of that has led a greater number of people falling prey to scammers. I think there ought to be restrictions so as to be able to limit the rate at which new projects are established daily too.

[viananda2525]

The cryptocurrency market is similar to the real one, where you can also see a lot of fakes of famous brands. And if you buy a fake product, its quality will be lower than the original. In cryptocurrency, it is much easier to install the original coin if you check its smart contract before purchasing it.

imitation will always occur in any product , not in real market or in finance market . many people trying to get benefit by imitating original product in market and by doing this they will earn much money . as user or customer we must becarefull with this condition included in crypto market. dont ever trapped in fake project that imitate original projects.

[fileo]

The most interesting part is the uniqueness of the project. Investors will determine where is the unique one and the trusted team with transparency system. Pro investors are not easily to trap in the wall for they know how to look at the new potential altcoins. Also they know the possibility when it will be listed in exchange. If the new project could not meet the standard of being authentic, investors assessment could be negative.

[Paulogo]

To be safe and ease yourself of the uneasiness of fear, you should buy a coin which is named in coinmarketcap, and  confirmed from the source. However, this may happen sometimes if a person's awareness of crytpo is not sufficient enough. Only a few individuals still don't believe cryptocurrency though it's awareness is rapidly gathering momentum by the seconds.  You may choose to invest in top coins such as bitcoin, ethereum etc, which are tested and trusted.

[Lantind]

If that newbie bought Bitcoin 2 months ago and held up to now a huge amount. Big profits they will get. I really like surprises like this/

Everyone likes surprises like this, because basically everyone wants to make profit every day through any way, especially with a way that only holds good coins for a duration of a few months, obviously it is not a difficult thing to do when market conditions are good, but the problem is that not everyone knows when market conditions are improving.

[nrvasquez]

This is a big problem only for newbies or people who are new to crypto, they still don't have much experience and still don't know the contract address, therefore many people advise beginners to only be in the top altcoins (while learning more about crypto)

Distinguishing between legitimate and fake projects is quite difficult for a newbie, I'm sure too complicated. Yes, top coins would probably be a good solution if they really wanted to invest or trade on crytpo

[imstillthebest]

you mistaken crypto from a rule and comunity . that three have thier own different meaning .  cryptocurrency is a currency or cryptographic currency but under crypto you can find different coins and if a coin is good it can gain supporters and these supporters can build a comunity like this forum we have now which is bitcointalk . there is no rule on crypto and anyone can make a coin of thier own . on crypto comunities you can find info which will help you if what coin are scam and not , scams dont also reduced the demand because as you can see crypto market is still growing

[judaspriest]

I don't know how long you have been in this market, this is not a very important issue for altcoins. For any sector in life is competitive, and in this market we see projects competing over products, etc... and only projects that survive. after a time of competition will be more welcomed by many people.

good projects will always be alive, that also means for altcoin projects,
this is not a big problem for altcoins, but a big problem for shit projects or shitcoin,
because reportedly the altcoin season is only followed by good projects or good altcoin with successful roadmap.

[TopT3ns]

This is what makes people afraid to invest in altcoins, many coins are left by devs so that they suffer such huge losses that people lose faith in altcoins. I hope that in the future there will be regulations governing new coins, but maybe this is difficult to realize.

I think altcoins are the best way to get a lot of profit, whereas if you say altcoins are a terrible place to invest then that is wrong because not all altcoins are like that, for example, currently XLM and XRP prices have increased rapidly and can provide a lot profit. so in my opinion don't charge altcoins always have problems that result in losses.

[lousie9]

not only you, all of us who are here also realize that trust in new projects tends to decline because most of them are just bullshit, new projects are created for their personal benefit. although not all of them but most of them are like that. to be honest we already have Bitcoin and don't need many altcoin bullshits in the market.

[speedforce]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

if theres a rule, how can it be decentralized then? and also for me, its investors problem to have a knowledge about what coin/ token/ project that they want to invest in. Just think like real life bussiness, some of them are scam too, right?

[Davian144]

good projects will always be alive, that also means for altcoin projects,
this is not a big problem for altcoins, but a big problem for shit projects or shitcoin,
because reportedly the altcoin season is only followed by good projects or good altcoin with successful roadmap.

Yes, a good project will always live and it will be difficult to die, because a good project always has a large community and enthusiasts to support them, and this is clearly different from the shitcoin project which does not have a large community and a minimum of interest in them. so that the shitcoin project will not be included in the season altcoin group forever.

[Ezravdb]

Some of the factors People judge Altcoin as a problem hole in Cryptocurrency.  Their mistake in analyzing the project becomes a source of problems with one's stance.  We have to rise up against Shitcoin in various ways such as getting someone to look and analyze before investing, if you have a lot of free time you can create a team to research the Altcoin project.  There are several sources from various sites that discuss how to determine an Altcoin project to invest in, I think all beginners can learn automatically how to determine which Altcoin to invest in.  I hope we don't fall into the shadow of the fear of investing in Altcoin.

[warg2017]

I say it is not big deal，this similar name phenomenon already existed a couple of years，but no big problem thing have happened. So that proves that name repetition is not a problem.
One truth is clear, Whatever is, is right.

[ololajulo]

If anyone has problem with new startups DYOR on existing project on Top exchanges with big volume and buy from there. Buy now when most of their new project are low cap with low price(even some under ICO price). The funny thing about scam project in bull market is that they still make huge profit for investors, reminds me of bitconnect, verisatum etc. Am not encouraging scam projects but dont ever be emotionally attached to any altcoins for whatever reason. when you make your profit, leave

[republicrypto]

I say it is not big deal，this similar name phenomenon already existed a couple of years，but no big problem thing have happened. So that proves that name repetition is not a problem.
One truth is clear, Whatever is, is right.

yeah, this is not a big issue
because name is not the most important thing in crypto,
everything is depends on our side, we should know how we can choose the right coins to invest with doing a deep research before drop our money
regards

[qualitywork]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

It's a bit difficult to figure out a scam project unless you do thorough research right from the team member's profile, their whitepaper and verify if the points in the whitepaper are copied from another project's whitepaper because I have seen projects wherein they have picked content of whitepaper from multiple projects (bits and pieces). Unless the community starts doing the research before being a part of these scam projects nothing could stop scam projects since there are no such restrictions in the crypto domain.

There should be a KYC process for Dev team before they can advertise the projects in this forum to keep the forum clean.

[atamism]

Back from 2017 to 2018 when I am just a newbie until I became a full member I’ve been scammed for at least 4 or 5 i guess. After I became a full member there are a lot of scammed campaign and that was the biggest problem back then. It is common today and I think that is not a very big problem anymore. I wish this time our campaign will pay us well until the project is done.

[rendravolt]

I say it is not big deal，this similar name phenomenon already existed a couple of years，but no big problem thing have happened. So that proves that name repetition is not a problem.
One truth is clear, Whatever is, is right.

In fact, it's the best choice altcoin right now. Maybe soon ethereum will go to$ 1000 and Ripple will go to $1. Because they have been proven for several years to be very good for long term investment.

[pedrillo0]

I am often skeptical of the cryptocurrency market because cryptocurrency has neither a worldwide community nor a rule to make coins, so my faith is not more than just 10%. This is because 2 3 Coins of the same name can also be made.  Ho and no one sends you any legal notice or banner and if 10 projects come in 1 month, then 8 of them are fake, if this problem is not solved then trust in this market will not increase...

Keep thinking the same way!

But why not think the same for the first 100 Altacoins?

Scammers are also working to win in this world of cryptocurrencies.

All cryptos that fail or with the same similar name are scammers ...