How long will this scam go on?

[DAVID GRACED20]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

[dansus021]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

Shitcoin/scamcoin from altcoin to token will continue exist because scammer is need the money for living and buy new some car  just hold bitcoin and you will be fine and Do your own research before investing in new coin because i see ton of them pop out everyday 

[mk4]

Knowing the fact that people are totally free to create as much projects(both legitimate and scams) as they want, then no, I don't think it's going to stop anytime soon. Especially knowing that people are still willing to speculate in them regardless how good/bad they are.

Funnily enough, depending on people's opinions, I'm pretty sure a lot of people would think that some of the coins you've mentioned aren't actually "viable".

[Lorence.xD]

Shitcoin/scamcoin from altcoin to token will continue exist because scammer is need the money for living and buy new some car   just hold bitcoin and you will be fine and Do your own research before investing in new coin because i see ton of them pop out everyday  

As the quote above says, this scams of coin will continue to exist. The quote already said to do your research so that can help you in distinguishing bad from good and knowing whether the coin is a passion project or a quick cash grab. The only way I know that this will cease from existing at the very least is by not batting an eye when there is a new project launch, do not buy their coins in hopes that hodling will be profitable, like how you ignor when there is a clout chaser in social media.

[pakhitheboss]

I prefer top 100 coins on the coinmarketcap to avoid shit coins. I would not say that all coins listed above the 100 list fall under the Shitcoin category. Basically a shit coin is something that does not have any practical usage especially those which are known as utility coin/token. Just avoid those and you will be safe.

[Wexnident]

Unplug the internet for a bit in the entire world, it'd probably stop then. Kidding aside, it's close to impossible, trust me. It's like asking companies to stop making money, when in the first place the very reason a company was made is to, in one way or another, make money. Not to mention that some people have that sort of mentality that whatever they would make would probably be "infinitely" better than what is on the market right now.

Hey look on the bright side at least, the very fact that they're trying to create more coins to exceed what is at the top right now just goes to show how good/great the top coins are in the crypto scene.

[death69]

You can't stop the people from creating new shit coin. Just look at the reality: we have tons of useless things in the world and many different materials are created just to scam us. Be a wise investors. We don't need to invest in those shit coin. As long as we stay away from them, we are immune from their diseases.

Stay cool and keep your money safe. Bitcoin is the best asset here and continue to put your money in bitcoin always bring good results.

[sunsilk]

It might somehow stop in the future when most of the investors agree with the same view about crypto investments. From 2018- mid 2019, many have stopped investing to Icos and ieos.

But when the yfi projects have came, then many investors became agressive again and active. Maybe it will be a cycle of being inactive, passive and then active again if there is a new trend.

[Genemind]

As long as creating shitcoins is profitable it will never stop. People have a preference when choosing where to invest their money at. Some people choose a project due to their product or use case, and some are investing just for money. Developers are earning a lot of money by creating different types of projects, this includes scam projects because there are still people who get attracted by too good to be true returns. No matter what form of crowdsourcing it is, there will always be projects out there that will take advantage of it and will scam people.

[Wenbing]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

Well, i feel that there is no two coins that have perfectly similar feature and value propositions. What separates one altcoin or shtcoin from another is the problem they are created to solve, for instance, dodge coin is different from Ethereum due to the problem they solve in crypto space.

well, i think a good project must have a very sold business model, great team and a very detailed whitepaper. These are the areas you must consider in knowing a project that has a future.

As long as creating shitcoins is profitable it will never stop. People have a preference when choosing where to invest their money at. Some people choose a project due to their product or use case, and some are investing just for money. Developers are earning a lot of money by creating different types of projects, this includes scam projects because there are still people who get attracted by too good to be true returns. No matter what form of crowdsourcing it is, there will always be projects out there that will take advantage of it and will scam people.

Yes, do you know there are entrepreneurs that make money just by developing new business idea to make money? these type of entrepreneurs are in every industry, especially in the crypto space. What they do is to develop a project, and probably raise funds from angel investors or an ICO.

I don't see the rationale behind this kind of business, as it is a pure scam.

It might somehow stop in the future when most of the investors agree with the same view about crypto investments. From 2018- mid 2019, many have stopped investing to Icos and ieos.

But when the yfi projects have came, then many investors became agressive again and active. Maybe it will be a cycle of being inactive, passive and then active again if there is a new trend.

Many investors do not have a position and decision about their investment or how they invest. So, these kind of investors are carried away by any trend, they dont care f such trends are noise or real trend that could be profitable to their business.

well, i feel having a position about an investment is a good strategy.

[moderator's note: consecutive posts merged]

[larus]

Shitconis will be here while here is easy to earn money by creating shitcoins, thats simple. While people ready to buy it others will create them more and more

[hv_]

Any copy / fork of original Bitcoin does not help to keep that new sector clean / compliant

There is only one relevant White Paper - stick to that, the rest might go away

[LogitechMouse]

2 ways to stop scams in crypto.

1. Stop the cryptocurrency in general.
2. If all of the investors will be knowledgeable enough to not get scammed.

With these 2, no one will happen so in short scams will not stop. You can't stop crypto in general and in the second one, not all of the investors are knowledgeable enough and there will be newbie investors who will get scammed. Don't expect that crypto scams will stop and also take note that even scammers are scamming thru fiat currency and fiat has been there for a long time already .

[mich]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

For some people they like the idea or project of the alt coin so this is why they choose to invest. And some think they can see big gains if they hodl on to them.
There is going to always be the alt coins/shit coins as you say but it is up to you to decide if you are going to invest your Bitcoin into them. 
Most of these alt coins are not earning the investors as much as if they just kept their money in Bitcoin.   

[Bitbtc8]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

Shitcoins won't seize to exists because creating crypto projects isn't regulated, there is no law that will stop people from creating their tokens and coins, crypto space is decentralized where everyone is free to do what they want and how they like, there are real developers and fake developers, we just have to be more careful and do our own research on new projects

[maxreish]

It's significant to know whether you have invested in coins that are valuable or just bought some useless coins or shitcoins.
There are some ways to know whether they are shitcoins or not;

- The coin doesn't have any progress or any developments
- No viable use in crypto industry
- Teams and devs no recent update
- Left behind and just created for fund raised purpose
- No real governance and quality

If you can see, those potential coins have a good progress with their objectives until now. They are further growing not just with their price but also with their project.

[Claudio99]

I suggest you train yourself to be able to avoid shitcoins once they are in sight, these type of projects will never vanish from crypto space, we keep having different type of smart contract platforms apart from Ethereum, Polkadot is now big because all the projects running on its blockchain are all successful, there are many more out there, there is no way to make this stop

[irixo10]

It is true that in 11 years of cryptocurrencies existence that many shitcoins has been created even those that claimed to be great turned out terrible but it is also good to know that, despite the constant coming up of shitcoins, it didn't stopped Bitcoin from breaking it's ATH and setting a new one, it also didn't stopped Ethereum from growing towards its ATH, however one can say it only delayed it, but yet the good side is, top coins always prove their worth. Also, if you know the type of coin you want, I don't think it will be difficult making a decisions, for some people they have no business with other altcoins apart from Bitcoin and top altcoins, while for some, they only go for altcoins they can sell in order to increase their Bitcoin holding, hence i think you can find it difficult deciding when you go for most of these hyped projects. In the same way, the creation of new altcoins will hardly stop because if you watch closely, many top altcoins started somewhere and as new altcoins, but their use case sets them apart, thus it is good to be on the lookout of coins with great use case as they are the ones that will have a positive effect on the long run. Another point to look out for, in an upcoming project is the dedication of the team, the activeness of the community, how good their partners are and the long term usability/application of their use case.

[Latviand]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

Shitcoin/scamcoin from altcoin to token will continue exist because scammer is need the money for living and buy new some car  just hold bitcoin and you will be fine and Do your own research before investing in new coin because i see ton of them pop out everyday 

It is really hard to eliminate those kind of schemes where that can make money by fooling others.

Scammers will do everything to have an easy money and that's the reality that we should deal with. Shitcoins are very effective for them that's why they settle on that kind of way of earning money, instead of investing their own money. These coins will continuously exist when the governments or the authority doesn't have any concern with that.

You should choose what to invest wisely so that you will not waste your money in these scams in the market.

[pealr12]

In just 11 years of cryptocurrencies existence we've seen a series of shitcoins coming up, making a choice on which coin to hold aside $BTC & $ETH $BET $DOT $ADA & LINK is becoming difficult, how best can I get to know more viable  projects like the ones I already have? When will the proliferation of shitcoins in crypto space stop? Who will check mate the proliferation of shitcoins?

Is it just me or does it look like you are shilling for a particular coin among the aforementioned coins! most of your post revolves around this similar topic and this same coins are suggested by you, well news flash, there is hardly anything you can do about this, blockchain is an open source which means everyone is free to build and develop their project on it .... shitcoin or not, if you already hold ($BTC & $ETH $BET $DOT $ADA & LINK) i don't see why you are even looking for something else, you already hold the best among them all