The way things are going with new crypto is worrisome

[makishart]

No doubt. Im also feeling worry caused by the total tokens in the market increased drastically without any control. This is another problem in the crypto that has no or even will have no solution until the developers willk be realize if restricting the token issuance to be more difficult to be done by entity will be help new people in the crypto avoid the scam token. I personally think that when you are also seeing  so many scammers in the crypto and newbies are always become the victim from these scammers. We have so many people with almost zero knowledge about crypto but they are interested with crypto.
This is also disrupting the image of crypto as one of investment instrument.

[GowithMi_GMAT]

woww who is someone you know, are they familiar with you, are they your co-workers? whoever it is I hope none of them incited you to compromise a fraudulent project and bring it to this forum. I see there are many beginners trapped in investments that offer quick wealth,beginners do not bother to check the projects that matter most to them is profit but with poor observation.

[bounceback]

No doubt. Im also feeling worry caused by the total tokens in the market increased drastically without any control. This is another problem in the crypto that has no or even will have no solution until the developers willk be realize if restricting the token issuance to be more difficult to be done by entity will be help new people in the crypto avoid the scam token. I personally think that when you are also seeing  so many scammers in the crypto and newbies are always become the victim from these scammers. We have so many people with almost zero knowledge about crypto but they are interested with crypto.
This is also disrupting the image of crypto as one of investment instrument.

There is no solution that can stop these scammers because they are in Blockchain technology so it gives them the freedom to create tokens as they like and with the amount they want, usually scammers when they want to launch their tokens will do FOMO with the lure if the tokens they want launches can provide returns of x100 or more, hearing that makes beginners tempted to invest with those junk tokens, right as you said avoiding them is the only way we don't lose everything.

[xSkylarx]

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, this is going to turn into a scam. A lot of developers have already created coins in the hopes that someone will fund them; however, they are all serious developers who understand the importance of creating a coin but have refrained from doing so because they recognize that it would be a huge burden on them and they do not have the funds to do so. Now, those who are inexperienced are almost certainly creating it for the purpose of scamming, as evidenced by the large number of scam coins and the fact that the whitepaper is a sham that they did not prepare.

[Benefactor]

They are simply making thought that will be execute on shrewd agreement. They are simply employing brilliant agreement designers for the coding and o her work force for the specialized side of the task. The issue is such uninformed individuals accept that the idealistic of the symbolic utility will occur while truth be told, most of them are fabricated distinctly to trick.

[Kadal Ijo]

New crypto or new projects nowadays are mostly just speculation, it's too easy to make coins or tokens making anyone with a capital of $ 1 million even less daring to make a project with the hope of 10x or 100x profit, this is clearly seen in the coin memes which are full of speculation and no direction clear.

[Davian144]

New crypto or new projects nowadays are mostly just speculation, it's too easy to make coins or tokens making anyone with a capital of $ 1 million even less daring to make a project with the hope of 10x or 100x profit, this is clearly seen in the coin memes which are full of speculation and no direction clear.

Actually the direction is very clear, namely for personal gain without caring about the crowd or investors so that the memecoin project does not need to be ignored or used as a benchmark, because the concept itself does not lead to things that benefit many people except for only a few people.
Everyone can see an example on memecoin that already exists when there are doubled pumps, the disposal will also be doubled and the project, especially if the project capital is only around $1 million.

[LogitechMouse]

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.

I think you're already late to the party .
There are many projects already that have been emerged where the main reason is to just scam people. There are many tokens that have been created by creators who don't even know how to use any programming language. That is because creating tokens now can be done by everybody. Creating tokens now are easier that what is in the past. Just a few clicks and "voila", you already have a token .

As for me, no need to buckle up as I'm just focusing on buying top tokens rather than risking my money buying those new and low market cap tokens. Maybe its better too if that is what you will be focusing with especially if you only have low budget to use in investing like me.

[Yamifoud]

New crypto or new projects nowadays are mostly just speculation, it's too easy to make coins or tokens making anyone with a capital of $ 1 million even less daring to make a project with the hope of 10x or 100x profit, this is clearly seen in the coin memes which are full of speculation and no direction clear.

Actually the direction is very clear, namely for personal gain without caring about the crowd or investors so that the memecoin project does not need to be ignored or used as a benchmark, because the concept itself does not lead to things that benefit many people except for only a few people.
Everyone can see an example on memecoin that already exists when there are doubled pumps, the disposal will also be doubled and the project, especially if the project capital is only around $1 million.

Meme coins are somewhat different from the other scam projects. Dogecoin and Shiba Inu give some profit to the investors but sadly, they don't have the support that couldn't lift them up and compete with the others which also gives losses to the investors. With these bad experiences that most newbies had encounter, I see this to discourage people not to invest in crypto, especially new products. I'm worried about how this will cause people to ignore crypto instead of showing support for its adoption.

[Raflesia]

New crypto or new projects nowadays are mostly just speculation, it's too easy to make coins or tokens making anyone with a capital of $ 1 million even less daring to make a project with the hope of 10x or 100x profit, this is clearly seen in the coin memes which are full of speculation and no direction clear.

Actually the direction is very clear, namely for personal gain without caring about the crowd or investors so that the memecoin project does not need to be ignored or used as a benchmark, because the concept itself does not lead to things that benefit many people except for only a few people.
Everyone can see an example on memecoin that already exists when there are doubled pumps, the disposal will also be doubled and the project, especially if the project capital is only around $1 million.

Meme coins continue to grow we already know how dump happens when they reach the hype but there are still investors who believe in meme coins about profits that multiply in an instant without thinking about dump later it is clear this will benefit the owner, so anyone who invests in the beginning then it's possible that he will profit but others who just follow the trend will get stuck and this has happened a lot, even I have experienced it before.

[sana54210]

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.

ICO period saw a ton of scam projects, STO period did too, IEO did too, DeFi did too, NFT did too, and Metaverse did too. Most of them are still going on, everyday there are scam projects in all of them even today. So, it is clear to me that whatever we move to, there will be people who will try to scam you the most high tech and recent thing. You just need to get better at detecting bs and learning how to avoid getting scammed.

It is not an easy thing but it could be done if you know what you should be looking at. First of all, never ever put your money into anything that is not audited by a credible source, secondly check the team very carefully, never invest into anything that isn't doxxed. As simple as that, even if an un-audited, non-doxxed project could be legit, I still would avoid it.

[Pamadar]

Meme coins are somewhat different from the other scam projects. Dogecoin and Shiba Inu give some profit to the investors but sadly, they don't have the support that couldn't lift them up and compete with the others which also gives losses to the investors. With these bad experiences that most newbies had encounter, I see this to discourage people not to invest in crypto, especially new products. I'm worried about how this will cause people to ignore crypto instead of showing support for its adoption.

For those who are still willing to go deeper, this kind of experiences will let them be more furious.

I see your point about those who had been moved by hypes, people who think that crypto is a safe heaven to easily earned
decently, those are the people who fail to do their research.

But for people who will continue to chase success, it will serve as a learning experience not to fall for another meme or any scam
projects that will lead them to lose their money.

[FanEagle]

We just need to resume working hard to earn something, do not just hope for the new projects to give you money, work hard to earn from them not profit from them. Like get your CV up and start working with projects and be better and get hired and get paid. That is a way out of poverty in crypto, there are so many people who are willing to work, there are so many people who message me about "I can be telegram admin for cheap!" every single day, but when you are looking for a smart contract developer for cheap, there are none, all of them are expensive.

So, maybe those people who are willing to work for $10 a day could instead spend their days to learn smart contract development and could make a lot of money from all these new projects. Do not just invest few dollars into every new thing and hope for the best, do it properly and get money that you deserve.

[TheUltraElite]

No doubt. Im also feeling worry caused by the total tokens in the market increased drastically without any control. This is another problem in the crypto that has no or even will have no solution until the developers willk be realize if restricting the token issuance to be more difficult to be done by entity will be help new people in the crypto avoid the scam token.

New tokens are increasing, but they end up making a short splash on social media and then get abandoned in the long run or sold off to some other shady company. Either of which is bad for the investors. But the only way out of this is not to invest in anything new being launced in this unregulated sector and focus on already developed projects.

I personally think that when you are also seeing  so many scammers in the crypto and newbies are always become the victim from these scammers.

If the newbies keep in mind that every problem cannot be solved with a new token, they will realize the truth, like I did a long time back. But then you can expect everyone to be that well-trained, otherwise big whales would never be able to profit.

We have so many people with almost zero knowledge about crypto but they are interested with crypto.

Completely agree, this lack of knowledge and awareness only brings in losses to the new investors. With the aggressive marketing of shitcoins, we older members of this forum should try to guide newbies.

This is also disrupting the image of crypto as one of investment instrument.

I think bitcoin and the top 5 are still holding their ground. Crypto should be narrowed down to them only.

[kojektea]

I wish that only few qualified people knew how to build blockchain projects.

Get rich soon. I'm sure that's what's in the brains of those who create tokens without knowledge.
When they create tokens without knowing it will actually attract people who really don't understand cryptocurrencies, come in here, buy them and lose.
Even some of my friends who understand the program to create tokens, have extensive knowledge about cryptocurrencies and some of them still don't dare to stand as CEO.
I believe that being a token CEO is a huge responsibility, because it involves a lot of people's investment that is worth a lot.
And what is surprising is that those new to cryptocurrencies boldly announce the release of their tokens without having sufficient knowledge.
I hope people like this repent soon, or they will be branded as criminals.

[FrozenBit]

Personally, I find it very normal that the field is popular and many people can create their own things, let alone its purpose, but the problem is specific. However, the things that we learn from the market also rely on these amateur developers a lot. Since no one is professional in the beginning, we will see product chaos in the early stages, but later on, as more knowledge is consolidated, the more people will know the right things for themselves.

[adiebitsler]

Personally, I find it very normal that the field is popular and many people can create their own things, let alone its purpose, but the problem is specific. However, the things that we learn from the market also rely on these amateur developers a lot. Since no one is professional in the beginning, we will see product chaos in the early stages, but later on, as more knowledge is consolidated, the more people will know the right things for themselves.

All products at first don't look good because the developer still needs time to prove their product to the public and as long as they focus on good development, I think the product will also get better over time although it still depends a lot on what they care about which they have started at this time

[Cling18]

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 a few qualified people knew how to build blockchain projects.

It has been happening for years and scammers have been using this strategy to fool people, especially new investors. It's a good thing that most investors have learned from their past experiences where in they have lost their funds in fake projects and worthless tokens. We're always advised to be skeptical and observant especially when investing in new projects because this thing is uncontrollable and scam tokens will always exist.

[Pasa32]

Yeah, There are a lot of scammers now, scan any wallet on bscscan you will surely find a fake token in the wallet. Actually now many websites are launched which launches tokens by just getting a little fee. We have to be careful from these fake tokens.

[bitkanu]

its kinda normal you see it in startups field, they are quite literally creating startups by hundreds each day and majority of them just vanish because its natural selection
it also happened with cryptocurrency that allows quite literally anyone create their own altcoins from their own idea, and just let the natural selection get rid of the majority useless altcoins that
have vision of just money grabbing, and after that the only thing thats left is some good quality projects that could be revolutionary like NFT and Defi, then the cycle will just repeat. Crypto is about how strong you are to compete with another platforms to keep survive. That's why demand is very important for any developers