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Author Topic: How long will this scam go on?  (Read 637 times)
Wulan_maniez
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January 19, 2021, 11:25:16 PM
 #41

There are no penalties in the crypto industry for fraudsters and no institutions that handle fraud cases against cryptocurrencies. Therefore,
fraudsters will perform their actions blindly, either deceiving investors, or bounty participants who are  not paid. It is commonplace in this
industry. Only we can avoid them, but we cannot stop them.
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January 19, 2021, 11:36:19 PM
 #42

Scamcoins, shitcoins and any other forms of fraud won't stop in the cryptocurrency industry.  Even with the regulated industry, this kind of thing never ceases to exist, what more to a non-regulated industry like cryptocurrency.  So it is better to be alert and vigilant at all times.  There is no harm in being skeptical and we should never put our guard down even though a project looks promising.  Remember it only "looks" promising. not the "real" promising.
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January 19, 2021, 11:40:04 PM
 #43

This is a vicious cycle of shitcoin. Create shitcoins >> get a profit >> abandon it then create a new one or sometimes they create until the shitcoin they created to generate some profit to them. Investors need to be smart in investing in the new crypto project since this cycle exists for some years now and the new Defi trend gave another reason for a cycle like this to continue.

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January 19, 2021, 11:52:05 PM
 #44

Shitcoins will never end. Likely scammers in the crypto world, will probably never end. Because there are always good and bad about something And shitcoins and scammers are bad things in crypto.
However, we can just avoid them, avoid having them. We can do our analysis on certain coins that have great increase, projects, technology, and also concept.
ANd please be carful in a new type of scam, project DeFi, and also all-new coming fundraising and system of crypto projects

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January 19, 2021, 11:56:35 PM
 #45

This is a vicious cycle of shitcoin. Create shitcoins >> get a profit >> abandon it then create a new one or sometimes they create until the shitcoin they created to generate some profit to them. Investors need to be smart in investing in the new crypto project since this cycle exists for some years now and the new Defi trend gave another reason for a cycle like this to continue.

the cycle keeps on repeating again and again, as long as there are naive buyers that keep on supporting these projects. so that means, these scammers will always have the chance in this market. because there will always be people that will patronise their platform.
no matter what warning signals you give to them, there will be one naive buyer, thinking that he will get rich soon by buying that coin or token.


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January 20, 2021, 02:01:30 AM
 #46

Scamcoins, shitcoins and any other forms of fraud won't stop in the cryptocurrency industry.  Even with the regulated industry, this kind of thing never ceases to exist, what more to a non-regulated industry like cryptocurrency.  So it is better to be alert and vigilant at all times.  There is no harm in being skeptical and we should never put our guard down even though a project looks promising.  Remember it only "looks" promising. not the "real" promising.

The more cryptocurrency become popular is the more chances for the scammer to plan everything of how their gonna find
a huge victim here in this field of business in crypto space. So, I agreed that being skeptical is one of the best thing We can do
for us to avoid scam project's anyway.

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January 20, 2021, 03:44:45 AM
 #47

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?

It doesn't take much time and effort to create a shitcoin. You can spend $20 or $30 to build a website with fake credentials and for a similar amount you can plagiarize a white paper from one of the better known projects with help from freelancers. And then you can go for the creation of a bounty campaign thread here. In total, it may take less than $100 in funds and a few days of your time to plan and implement everything.



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January 20, 2021, 04:54:20 AM
 #48

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?

I think it is not difficult to invest in crypto. As long as you can search for more information about what coin you should invest, you don't have to worry about how to start buying the coin. We have bitcoin as the leader in the crypto, and if you don't know which is the next coin to invest, you can select bitcoin as your main investment and use bitcoin for a long term investment. The next coin will be ethereum as ethereum is the smart contract leader, which will become popular since a long time ago. So if you have bitcoin and ethereum, you don't have to worry if you can't make a profit because bitcoin and ethereum will give you the profit this year.

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January 20, 2021, 04:59:44 AM
 #49

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?

After they've done with their scam and manage to steal some money from their victims, they will create another scam unlike we have seen before in this industry that will continue until they will get caught by the authorities. If now, they will remain forever and will create another fake giveaway or alike of it to fool people and to steal their money without them knowing it. Thankfully we have some people who know how to counter their scams and those people are the ones who always posted it here to prevent others from getting scams. You can go to the Beginners & Help section to know how these scammers operate.

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January 20, 2021, 05:01:23 AM
 #50

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?
The shitcoin will always come anytime and there's no way to stop it even when there's no smartcontract and the shitcan can come again from modifying the bitcoin source code to be used to build a new coin.
What you need to analyze the fundamental of shitcoin and you can know that easily whether that's a shitcoin or not.

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January 20, 2021, 05:18:54 AM
 #51

for now I think a lot of altcoins have fallen and are hurting investors, of course I'm not talking about people who lose trades. but in this case a lot of new altcoins already have investors and instead leave the project and bring money from investors. Of course this is something we should be aware of in new altcoins. so for actual investments it is better to hold on to altcoins that already have potential for future investment.

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January 20, 2021, 05:31:23 AM
 #52

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?
The crypto space will still grow spontaneously, with no regulatory constraints for that. There are thousands of allcoins that are still gradually developing and competing utility together. That's a good thing, because that collision will cause crypto to grow. Learn not to look at the coin / token value of a project. Because, it can swallow your ambitions. Even, the breakdown with XRP, ... is that surprising?

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January 20, 2021, 07:16:59 AM
 #53

It is never going to stop. Scam exists for centuries. No one can stop scams. If one gets taken down, a new one will pop. And the crypto space is decentralized, so it is almost impossible to stop them. What we can do is avoid them and point them out so that others can stay safe from them. Every time someone invests on those projects, they encourage the scammers to scam more.
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?
Use the forum to know more about the projects. If you see there isn't any discussion or active community for those projects, best to avoid them. No one can "check mate" the proliferation of shitcoins.

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January 20, 2021, 07:24:48 AM
 #54

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 and scam projects are already part of the crypto world and we can't control their existence but we can still do something to get rid of them. As the market grows, we should also grow and learn how to choose good coins. All the coins that you have mentioned have good potential and dividing our assets to invest in those coins would be worth it. If we'll stress ourselves of shitcoins, we'll never foster. Let's just focus on profitable coins and more opportunities being offered here in crypto world.

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January 20, 2021, 07:24:52 AM
 #55

Fraud cases will never end in the cryptocurrency world. Scam projects will become more common because many people have become interested in cryptocurrencies.
A new type of fraud emerges every day. We must take the necessary precautions and protect ourselves and our friends. Always be careful and sane  Smiley

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January 20, 2021, 08:15:40 AM
 #56

It's better to protect yourself instead of worrying about scam projects because they will always be around here as much as crypto remains a big thing in future, there is huge amount of money to be made here either through good source or bad ways, scammers aren't going anywhere
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January 20, 2021, 08:19:45 AM
 #57

The scam will not end, and that is happening in many things, not just in crypto. As long as there are money involve inside the business, the scammer will try to scam the other people and get their money. We can not stop that thing because it is what happens for a long time ago. We can be careful if that is related to money because we do not know what their purpose behind of that. I am sure we can protect ourselves from the scammers, and we can take care of our money from them.

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January 20, 2021, 09:15:00 AM
 #58

Unfortunately, it is very easy for scammers to create fraudulent projects and deceive people, and unfortunately, scammers will always be in the cryptocurrency field, and therefore you should always study every cryptocurrency project fully in which you want to invest and try to invest best in cryptocurrency projects that conduct IEOs on the top exchanges like binance and then you will not notice scam projects.

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January 20, 2021, 09:49:53 AM
 #59

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?

i think this scam in crypto will never stop mate, because shitcoins will always come
so, we need to know how to know if the project good or not, by doing a deep research before we drop our money to any cryptocurrency project
and always believe with yourself

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January 20, 2021, 10:10:13 AM
 #60

Hope we can stop them, but we can't.

There are thousands of new cryptocurrencies being started in a year and with a lot of that, people will continue to invest. As long as investors continue to invest, there will be a continuous making of these scam projects/shitcoins in the market. When will it stop? I don't know, all I know is that if people would stop investing in these projects, for sure these will also stop but that is just so close to impossible.
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