The way things are going with new crypto is worrisome

[nurilham]

That's right, I see there are many people who create new tokens and I don't understand the concept where many people are competing to create it. Incidents like that have been happening for a long time but for now I think it's even worse because the crypto world is becoming more and more popular, the more people are taking advantage of it. We know that some people don't even know crypto and they just follow the hype to invest in new tokens with attractive offers. but behind all that, you can get a big loss because you are not careful in investing in new coins.

[METASENS]

A lot of new projects apper everyday, but not all of them will be able to survive. A lot depends how usefull will be a project in future and how many people will use it.
Now appear whole game Metaverses like this https://twitter.com/PokerFacesNft/status/1501518730970513416
They offers their users a lot of new and useful opportunities.

Now casino and poker very popular. A lot of people visit casino and spend money on them.
Blockchain makes casino and poker transparent and clear.
Imagine how many new opportunities will have people in Metaverse casino.
But the most important is to realize all plan ideas.

The ability to earn money always attract many gamers. That is why poker and casino so popular.
The creation of Metaverse will give more opportunity to gambling and will attract more people to casino and poker.

[Silberman]

In reality, Most of the CEO or executives of the project is not well verse on smart contract coding. They are just creating idea that will be implement on smart contract. They are just hiring smart contract developers for the coding and other personnel for the technical side of the project. The owner of the project is not necessary required to know smart contract as long as they have the project idea then they can run properly the project with the right developer.

The problem is if the hired coders have back up plans in case the project succeeded, getting ahead of their boss and hogging all the credits. The CEO should think be making rules if this happens, a contract that if the staffs do something unusual they would be sued. CEO should've been a coder or an engineer, for he will check most of the codes himself, this is the best way to avoid such things.

Exactly, the leader of a project should always be a person that is accomplished on the field in which they are working on, if that is not the case then they will not know at all what is happening with their project, as an example would you allow someone that is not a doctor to perform a surgery on you? Most likely the answer is no, and if that is the case then why people invest in projects that are not under the leadership of an expert on this industry?

[LastKiss]

~snip~

The ability to earn money always attract many gamers. That is why poker and casino so popular.
The creation of Metaverse will give more opportunity to gambling and will attract more people to casino and poker.

Now metaverses are morden trend and many big companies create their own metaverses.
Also metaverses are popular in the gaming industry. Different games unite in one big metaverse to unite their community.

I agree, everyday we see many projects about metaverse coming up but unfortunately, only a few of them really have an intention to develop for a long time and a lot of them just want free money from investors. Not only gaming industry is popular with metaverse but other industries are also trying to implement metaverse in their ecosystem. For now I'm just going to watch this metaverse and see how it is.

[KaliLinux]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

Well nowadays we have places where people can just teach themselves how to build cryptocurrency tokens but if this was for educational purposes only wouldn't have been a problem, but we have seen the surge of these new tokens into the crypto market all for the purpose of ripping people off their hard-earned money and most investors too don't try to do the needful of verifying these new projects. This will continue cos I don't think it can be stopped as the space is decentralized.

[Bertyda]

A lot of new projects apper everyday, but not all of them will be able to survive. A lot depends how usefull will be a project in future and how many people will use it.
Now appear whole game Metaverses like this https://twitter.com/PokerFacesNft/status/1501518730970513416
They offers their users a lot of new and useful opportunities.

Crytpocurrency already used for gambling and casino. Usially Monero is used for private transactions.
Gaming metaverse will attract more attention of gamblers and give them more opportunity to earn money.

Now Metaverse is a morden trend. A lot of metaverses created and there is a demand in them.
Metaverses offer people new opportunities. They allow people to interact and communicate with each other.
Also metaverses allow people to earn money. That is why they are so popular.

[Pamadar]

That's right, I see there are many people who create new tokens and I don't understand the concept where many people are competing to create it. Incidents like that have been happening for a long time but for now I think it's even worse because the crypto world is becoming more and more popular, the more people are taking advantage of it. We know that some people don't even know crypto and they just follow the hype to invest in new tokens with attractive offers. but behind all that, you can get a big loss because you are not careful in investing in new coins.

Without knowledge of anything that concern investment only leads you to lose your money.

Concerning about many newly created projects without any usages, it's already happened before but it's more likely
multiply with many numbers. For scammers, it's an easiest way to collect money from uneducated investors who only
follows hypes and is not really aware of what they are investing.

[BigBos]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

this is the same as what happened in my country. a line of artists vying to create a crypto, NFT, related metaverse. however, what's unique is that they are artists singers, comedians and others who don't have a tech background, even I think that they moved because of the hype. however, many lay people try to invest in the coins they make because they are famous. I just hope that they can actually develop it, and have people who are experts in that field.

personally, i think not to invest in these coins knowing their background. anyway I think that they made it because of the hype. this makes me think that before people should invest in the coin, they should do some research on crypto, not see who made it. this is the same as the meme coin hype that used to be very much on the internet.

[ZaMRoneY]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

Yeah there are so many projects coming left and right it's hard to actually find the legit ones. There are so many projects that just run on hype and unbelievingly so many people buy into them, which is baffling to me, but I was surfing the twitter, reddit and bitcointalk forums and came across these two coins that have solid fundamentals down $LFI aka Lunafi and $ENGN aka ENGNEngine both look to make their footprint in the metaverse, even tho they both represent different sides of the metaverse. As much as i understood $LFI is a gambling protocol that wants to make their own casino in the metaverse, and $ENGN is a gaming studio token that has a new game around the corner that by the looks of the trailer looks like Fortnite on steroids. I'm not so sure about them tho any thoughts on them or any recommendations on what to look out for ?

[daxetoken]

A lot of new projects apper everyday, but not all of them will be able to survive. A lot depends how usefull will be a project in future and how many people will use it.
Now appear whole game Metaverses like this https://twitter.com/PokerFacesNft/status/1501518730970513416
They offers their users a lot of new and useful opportunities.

Crytpocurrency already used for gambling and casino. Usially Monero is used for private transactions.
Gaming metaverse will attract more attention of gamblers and give them more opportunity to earn money.

A lot of money are circulated in gambling and casino.
Metaverses offer much more opportunities, connect people and allow them to communicate.
Imagine how much money will be circulating in gambling, poker and casino.

[Ziskinberg]

That's right, I see there are many people who create new tokens and I don't understand the concept where many people are competing to create it. Incidents like that have been happening for a long time but for now I think it's even worse because the crypto world is becoming more and more popular, the more people are taking advantage of it. We know that some people don't even know crypto and they just follow the hype to invest in new tokens with attractive offers. but behind all that, you can get a big loss because you are not careful in investing in new coins.

Crypto projects are quite growing fast,  many new projects fail but I'm not accusing them that they are all scams (might the majority of them) it is probably because of the lack of support.

Scammers took home a record $14 billion in cryptocurrency in 2021, thanks in large part to the rise of decentralized finance (DeFi) platforms, according to new data from blockchain analytics firm Chainalysis.

source: https://www.cnbc.com/2022/01/06/crypto-scammers-took-a-record-14-billion-in-2021-chainalysis.html

And this mostly happens to newbies investing new hypes, dump, and pump projects.
It is actually not good to look at and this even worries the community this year 2022, it is probably more than that amount a possible scam if we are not careful in choosing a project for investment.

[gabbie2010]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

Crypto market is not regulated thus prompted so many people to create their own tokens to deceive and scam unsuspecting investors after marketing the so-called tokens by paid influencers who makes those tokens look real whereas they are fake, however I wouldn't blame them because there a lot of greedy investors who want to make 100x, 50x etc profits by investing in those shitcoins, some of these newbies are stubborn thus wouldn't listen to any advice that would prevent them from investing in those scam tokens consequently or later regret their actions, personally I have avoided investing in any new token but channelled my efforts toward crypto trading.

[martha1]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

it's not even that bad these days,i guess you must be new to the crypto world you should go and watch back the 2017 era shit was wild back then we would hear about an ICO basically everyday.(90% end up exit scamming)

A bunch of regulations were introduced thats why it has kinda cooled down since.

[Questat]

snip~

it's not even that bad these days,i guess you must be new to the crypto world you should go and watch back the 2017 era shit was wild back then we would hear about an ICO basically everyday.(90% end up exit scamming)

A bunch of regulations were introduced thats why it has kinda cooled down since.

Perhaps many restrictions have been created to minimize the growth of these scam projects but it wasn't enough to fully stop them as these people (scammers) will find a way and really they are? In fact, some of our first impressions got wrong, some it looks promising but in the end, they'll turn scam. We honestly don't rely on these restrictions as somehow there is still a loophole on it, it is really for us to detect scam projects and never invest them especially to pump and dump projects.

[Hamphser]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

Learning doesnt have any boundaries thats why even knowing with the basics on how to make a coin then people would really made out such step because they do know that they could really stole or scam people

on this way specially newbies that do easily believes about those false promises and its inevitable and cant be stopped and as you can see on the market that almost everyday there's a new coin thats launched.

Just get over with it and dont stress out because you couldnt stop those people on making new one.Important here is that you are aware on how many shitty projects we do have currently.

[True_Gift]

I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

Unfortunately we are wayyyy past that point. The rain of scam tokens has already gone through various circles (defi, food defi, doge clones etc) and it's only matter of time until the next big thing kicks off the next flurry of scams.


Increasing listing requirements might help ease the problem, but it'll only buy time. The elaborate scams will make it through them.

[shawon01]

Not only amateur developers from here are a team here but also a field for those who create new tokens or coins here and what not.  I think it would be right in my country to create new ones from here using popular but once again set most of them because I think they read these just for publicity.

[lenovop-70]

I think you are right, more and more incompetent people are joining in to create their own tokens because of the ease of deploying smart contracts as well as the ease of listing on the market so its can be traded immediately. Then, yes, it became stalled project and ended in a project scam. I am afraid that things will undermine the true meaning of the world of digital asset trade, which was originally a legitimate and trusted investment area.

[fvb]

Almost everyone I knew now creates their own tokens   these guys aren't even crypto developers to begin with, they have no coding experience or knowledge now this makes me worry, imagine how many crypto tokens that are created by inexperienced personal, I think we need to buckle up for there will be huge rain of scam tokens upon us than what we've seen before...... Sigh! I wish that only few qualified people knew how to build blockchain projects.

It's definitely just a huge number of them, for example, at BSC. But for this there are tools for verification. And so yes, they are created by all and sundry with one goal to deceive. And you have to be very careful in choosing an investment.

[usekevin]

Most of them are tokens that are launched on centralized or decentralized networks such as BSC or Ethereum, and therefore more losses are in the form of fees, which may lead to an increase in the total fees if the blockchain is decentralized or the developers of those networks are rich.
 
any newbie user will not be able to start a new decentralized Blockchain network that cooperation between people around the Internet to make these things possible and therefore is just more spam of tokens.

Will these people affect crypto as a whole? no

Tokens was created by the developers with making some investments.Newbie was very innocent people in the forum.They have to investigate before the investment,blind investment will not work anymore.Need to investigate about the new project team and verify it manually.The new traders should find the scam coin from the new listing coin.