95% of cryptocurrencies are fraudulent

[breathlessz]

Maybe he has a point too. Now that so many coins have sprung up that I might say it's not clear in what direction. That's why investing in popular coins is much better than investing in new coins that we ourselves don't know will be like. I can say that this coin will make you rich overnight but it is very possible that this coin will cost you.

it identifies the problem in a risk. many new coins that only collect investor funds and on the way it is not clear the direction of the coin. but indeed not all new projects are bad. we can analyze it with an approach to find projects that can really be invested. but indeed my advice is not to use most of your capital, because there is a high risk of fraud

[Tomohisa]

Maybe he has a point too. Now that so many coins have sprung up that I might say it's not clear in what direction. That's why investing in popular coins is much better than investing in new coins that we ourselves don't know will be like. I can say that this coin will make you rich overnight but it is very possible that this coin will cost you.

High risk, high reward. Even if we consider the statement 95% of cryptocurrencies are fraudulent is true then that left 5% of cryptocurrencies are legit or will become a big thing. 5% is good enough if you understand how investment work as there is nothing guaranteed to become successful.

[reza7777]

Maybe I will agree with what he said because right now the crypto space is only filled with projects that have bullsh*t/only take personal advantage, only a few projects that think about the future

[blockman]

Maybe I will agree with what he said because right now the crypto space is only filled with projects that have bullsh*t/only take personal advantage,

The fact that many projects are like that, it contains the market with a lot of those types of projects.

only a few projects that think about the future

It is true that very few projects are thinking about the future of what they're building. They may take some profit as they've developed it but they never put at stake the future of the project and they're continuously developing it. Especially, if they've already built a large community and the project seems to take a lot of attention from many investors around the world that sees the future with it.

[geegaw]

Maybe I will agree with what he said because right now the crypto space is only filled with projects that have bullsh*t/only take personal advantage, only a few projects that think about the future

We are also not noble people and think about the benefits of the future, we also only think about personal benefits from projects and when the project exists a similar mindset, it's not something we can criticize, we're not too much better than them, they cheat a lot of people's money, we also make money from such scams. You should agree with me on this point as we many times make money from projects whose future is extremely bad, but more fraud from crypto, we just need to keep a certain boundary with fraud still avoid the fate of a victim and safe

[stadus]

2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.

That will never come back anymore, that time, the market is not yet popular, and there are only few projects you can find, now, it's full of coins and tokens and the number of scams has increased as well, yo know, whenever there's an opportunity, scammers will come to play, so our only weapon to fight is knowledge, without that, we will fail with our journey here.

[kokrokok]

almost average new projects have the same concept so they can't compete in the market and many of them end up being scams, maybe that's what makes some people say if crypto is 95% scam, actually if they want to do more research they will avoid it. scammers

[tees420mar]

Its because in the first place these kind of technology is out of control reason anyone can make projects immediately without any authorization even some of them are not professional and sometimes the intention is to scam other people, that's why as well a lot of people saying investing is very risky aside of being so volatile of it.

[Sithara007]

No wonder investors say 95% of the many projects launched are scams, this is not the case with crypto as a whole. There are so many memes of coins on the market that are no longer actively traded and various parties that come up with the idea of crypto to recruit investors to invest where they end up being scammed, experiences like this make me think crypto should be monitored by the state. However, it is highly unlikely that cryptocurrencies are controlled by the government. 2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.

At least a part of the blame should be on retarded people who pour their money in to such projects. Back in 2016/17, a number of ICO projects returned 100x or even 1000x returns for those who invested in them. And as a result, there was a lot of hype related to the ICOs. A lot of users were rushing to invest in ICOs, despite the shady credentials. They were hoping that at least 2-3 out of 10 projects would return good profits. That didn't happened and most of those who made their investments lost the capital amount.

[stadus]

No wonder investors say 95% of the many projects launched are scams, this is not the case with crypto as a whole. There are so many memes of coins on the market that are no longer actively traded and various parties that come up with the idea of crypto to recruit investors to invest where they end up being scammed, experiences like this make me think crypto should be monitored by the state. However, it is highly unlikely that cryptocurrencies are controlled by the government. 2015 sounds good about crypto, everyone feel comfortable to invest in launched project. Hopefully that happy year can come back for comfort in investing.

At least a part of the blame should be on retarded people who pour their money in to such projects. Back in 2016/17, a number of ICO projects returned 100x or even 1000x returns for those who invested in them. And as a result, there was a lot of hype related to the ICOs. A lot of users were rushing to invest in ICOs, despite the shady credentials. They were hoping that at least 2-3 out of 10 projects would return good profits. That didn't happened and most of those who made their investments lost the capital amount.

That was part of the process, you can't blame them for investing money because they saw the potential and they believe that they could make money. They lose, that's okay because there's a lot of opportunity in crypto, and if they learn from their mistakes, then probably they are already in profit now.

As the market is not yet fully regulated, you can see more scams as it's easy for scammers to play here, but as their style was exposed, I'm sure that will give awareness to investors on what to look for when investing.

[abralzain17]

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

what was discussed in the meeting was very true in my opinion. There are a lot of junk coins on the market today whose purpose is to deceive others. even now there are a lot of trash tokens that go into the bsc wallet.

[SirLancelot]

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

Well, that’s why you have to be really carefully these days, because there’s always going to be lots of fake projects that are owned by scammers. What they mostly do is to copy and paste from the original and that’s it. Once they are caught they will move on to create another one that they are going to use to be scamming people.
That’s how it is everywhere, and since these scammers can easily copy whatever they want and just paste it, They tend to keep creating lots and lots of fake projects on the net.

Now, it is up to us to be able to figure out the fake projects when we are looking for what to invest in. When you are investing your money in a project, if you are not sure of what you’re investing in, then it’s best that you leave it, and look for other projects, because there are many of them.

[Hamphser]

In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."

what was discussed in the meeting was very true in my opinion. There are a lot of junk coins on the market today whose purpose is to deceive others. even now there are a lot of trash tokens that go into the bsc wallet.

Yeah there are lots but not really much an issue if you do make yourself aware and doesnt really care about those coins that do go inside your wallet randomly and as a newbie then you should do make out lots of

research or on at least be aware on what are the things that are happening into this market before you do step your foot in rather than on considering most coins which are relevant.

Its true that 95% of them or more are really just garbage and doesnt really have actual use case but surprisingly there are people who do still engage with these things.

[gabbie2010]

almost average new projects have the same concept so they can't compete in the market and many of them end up being scams, maybe that's what makes some people say if crypto is 95% scam, actually if they want to do more research they will avoid it. scammers

Most of those new projects capitalized on the fact that cryptocurrencies market is not regulated, thus any Tom, Dick and Harry can just create a shit coin and launch it into market, after collecting investors hard earn funds they abandoned the project and disappeared into thin air consequently the project will hence become a scam, I really agreed with OP that 95% are scams, thus any potential investor has to be extra careful to avoid falling onto a wrong hand that is why it is advisable to DYOR,

[Mr.Noda]

Personally, I have chosen 10 cryptocurrencies for long-term investment that fall into the top 50 of the coinmarket. Everything else I consider to be digital junk.

[Dr.Osh]

almost average new projects have the same concept so they can't compete in the market and many of them end up being scams, maybe that's what makes some people say if crypto is 95% scam, actually if they want to do more research they will avoid it. scammers

Most of those new projects capitalized on the fact that cryptocurrencies market is not regulated, thus any Tom, Dick and Harry can just create a shit coin and launch it into market, after collecting investors hard earn funds they abandoned the project and disappeared into thin air consequently the project will hence become a scam, I really agreed with OP that 95% are scams, thus any potential investor has to be extra careful to avoid falling onto a wrong hand that is why it is advisable to DYOR,

in fact, years ago, many team developed projects whose purpose was to raise funds, and looking at the results today, almost all of these coins have disappeared, or become trash coins today. however, only bitcoin really survives, even thrives to this day. I also quite agree with the statement that people need to include bitcoin in their portfolio more than altcoins.

[Al Qiyamah]

Maybe what was meant by fraud and deceptive advertising at that time (above 2015) was that many scam projects and tokens became trash tokens in wallets or in markets that had no price, except Bitcoin. what's even more unlucky is when there are developers who run away from project funds that have held a token sale.

[Masyudhi]

Maybe what was meant by fraud and deceptive advertising at that time (above 2015) was that many scam projects and tokens became trash tokens in wallets or in markets that had no price, except Bitcoin. what's even more unlucky is when there are developers who run away from project funds that have held a token sale.

I'm sure it's not just that. It also relates to a newcomer to the crypto market who feels cheated by the volatile movements of crypto assets and markets.
Most come to buy when the pump goes on the market. and then suffer a deep correction. and finally, they feel cheated by crypto.
or they come for a new project that is ready to be abandoned by the developer. it can all happen because of the lack of us seeking information before investing.

[stadus]

almost average new projects have the same concept so they can't compete in the market and many of them end up being scams, maybe that's what makes some people say if crypto is 95% scam, actually if they want to do more research they will avoid it. scammers

Most of those new projects capitalized on the fact that cryptocurrencies market is not regulated, thus any Tom, Dick and Harry can just create a shit coin and launch it into market, after collecting investors hard earn funds they abandoned the project and disappeared into thin air consequently the project will hence become a scam, I really agreed with OP that 95% are scams, thus any potential investor has to be extra careful to avoid falling onto a wrong hand that is why it is advisable to DYOR,

in fact, years ago, many team developed projects whose purpose was to raise funds, and looking at the results today, almost all of these coins have disappeared, or become trash coins today. however, only bitcoin really survives, even thrives to this day. I also quite agree with the statement that people need to include bitcoin in their portfolio more than altcoins.

I will never forget the coins I bought in the past that are already worthless now, though I lose a lot of money I already accepted my losses and just learn from it. Per my experience and based on what I read, it's really recommended to ensure that bitcoin owns the biggest percentage of your portfolio.

[RokokGudangGaram]

Most of those new projects capitalized on the fact that cryptocurrencies market is not regulated, thus any Tom, Dick and Harry can just create a shit coin and launch it into market, after collecting investors hard earn funds they abandoned the project and disappeared into thin air consequently the project will hence become a scam, I really agreed with OP that 95% are scams, thus any potential investor has to be extra careful to avoid falling onto a wrong hand that is why it is advisable to DYOR,

in fact, years ago, many team developed projects whose purpose was to raise funds, and looking at the results today, almost all of these coins have disappeared, or become trash coins today. however, only bitcoin really survives, even thrives to this day. I also quite agree with the statement that people need to include bitcoin in their portfolio more than altcoins.

I will never forget the coins I bought in the past that are already worthless now, though I lose a lot of money I already accepted my losses and just learn from it. Per my experience and based on what I read, it's really recommended to ensure that bitcoin owns the biggest percentage of your portfolio.

Indeed, many projects have been continuously rising only to disappear after some time. And this really impact what people think of cryptocurrencies and the impression that it leaves on them. I also have my fair share of having coins which are now dead and worthless. It is a hard learned lesson for me because I loss a lot, but at least I gain diligence in choosing what coin to pursue.