Scams in a row ...

[roslinpl]

I had pretty hard month with altcoins....

After I joined Banksy Coin community which was a good decision...
After that I joined:

Payzor Coin
Cluster Coin
Use Coin

3 scams in a row.
Now I feel terrible and I will perhaps never again join into any altcoin community.

Too many scammers around..


I suggest that we should stop those scams.

The only way is to never join any new altcoin's community.

With our money scammers are getting more wealthy.
We must stop this.

[beaknuke]

I lost faith in a lot of things, crypto::stocks and its securities, BTCJam and even known reliable investments... the list goes on

[roslinpl]

Don't invest in 1 month old coins please

I know few coins older than a month that became a scam Or wwithout a scam investors are losing 80% of their investment value.
It is really hard to say which coin will became a scam.

One thing is sure : bitcoin will stay with us.

But bitcoin related scams are all around also ..


We need to do something about it. .

As a community - we should fight with those mfckrs!

[Viper1]

Don't invest in 1 month old coins please

There's no reason not to "invest" in new coins as you can get screwed at any point.  But you really have to pay attention.  If everyone is calling for exchanges right away, you need to stay glued to your seat, pissing in your pants so you can sell as soon as they hit the exchange.  You also need to follow all the pump/dumpers and, if you own what they're pumping, get out at a reasonable profit.  The problem is that the vast majority are greedy, dreaming of 10x+ returns instead of just getting out at 50%-100% profit.  It's really their own fault.  One guy sold out all his cloak and was crying cause he could have sold out with something like 230BTC and instead ended up with 22BTC.  Who's fault is that?  He was greedy and only has himself to blame.

[Viper1]

Don't invest in 1 month old coins please

There's no reason not to "invest" in new coins as you can get screwed at any point.  But you really have to pay attention.  If everyone is calling for exchanges right away, you need to stay glued to your seat, pissing in your pants so you can sell as soon as they hit the exchange.  You also need to follow all the pump/dumpers and, if you own what they're pumping, get out at a reasonable profit.  The problem is that the vast majority are greedy, dreaming of 10x+ returns instead of just getting out at 50%-100% profit.  It's really their own fault.  One guy sold out all his cloak and was crying cause he could have sold out with something like 230BTC and instead ended up with 22BTC.  Who's fault is that?  He was greedy and only has himself to blame.

There was a time where you wouldn't need to do all these things.. this place got so corrupted its almost worse then Goldman sachs scams

No shit.  Been here a month and a half and I can already see crypto is all about money now.  Might as well be bankers and wallstreet.

[yeasee]

That's your problem,some people have warned that those three coins maybe scames but no one listen.Sometimes people should learn to listen others' voice.

[GangkisKhan]

Even litecoin, darkcoin, Nxt and Ethereum coin should be considered scam coin unless there is a market usage for them.

So far, only bitcoin proven itself not to be scam if you are not using it for speculative purpose.

[Viper1]

That's your problem,some people have warned that those three coins maybe scames but no one listen.Sometimes people should learn to listen others' voice.

Every coin that comes out these days is called a scam.  So you have to just ignore all the crap and figure it out for yourself.

[DarkhorseofNxt]

Even litecoin, darkcoin, Nxt and Ethereum coin should be considered scam coin unless there is a market usage for them.

So far, only bitcoin proven itself not to be scam if you are not using it for speculative purpose.

The world is calling you (bitcoin) scam, so ...

[Lauda]

Even litecoin, darkcoin, Nxt and Ethereum coin should be considered scam coin unless there is a market usage for them.

So far, only bitcoin proven itself not to be scam if you are not using it for speculative purpose.

Your knowledge seems very low or limited.
Scam - a fraudulent or deceptive act or operation. Now explain how any of those coins are just that. Okay for Ethereum I could agree, since their paper is confusing nonsense.
OP I'm sorry that this has happened to you, but seriously stop investing in new coins. Just stop, look at what's already there and somewhat established.
This should get you less burned, if burned at all.

[NapoleonBonaparte]

Should expect all the IPO coin/security and new coins are scam unless proven otherwise.

Prudent action is not to get involved in any of them.

[Nullu]

Most of these scam coins are the same f'ing devs creating new accounts. It's a joke.

[kerimk2]

Lol most of us just set the whole altcoin section to ignore. Altcoins are useless, will never become as large as bitcoin therefore there is no point in holding them except for gambling with the prices to see if you can make some money. Stay away

[darkota]

I don't understand. Why do users like Roslin always go for the scam coins? It's like a magnet, they're only attracted to new coins with newbie devs/no dev team

Seriously, I don't feel sorry for the OP. It's his fault for being a dumbass and ONLY going after coins that look suspicious with newbie devs or no dev team, etc. These newbie, new coin devs are coming back and back, because of idiots who keep buying their coins.

[iawgoM]

Joining a new coin isn't always a bad decision...but lately, in 95% cases - it is :/

[Leina]

How much btc did each IPO raised approximately?

Why people fallen to such scam knowing full well most altcoins investors ended in red?

[C64_4EVA]

I had pretty hard month with altcoins....

After I joined Banksy Coin community which was a good decision...
After that I joined:

Payzor Coin
Cluster Coin
Use Coin

3 scams in a row.
Now I feel terrible and I will perhaps never again join into any altcoin community.

Too many scammers around..


I suggest that we should stop those scams.

The only way is to never join any new altcoin's community.

With our money scammers are getting more wealthy.
We must stop this.

I'm curious as to what made you choose those 3? I find that if you look around the forum you can get a sense of which coins are more likely than others to succeed. Just looking at the names of those 3 would make me question them right off the bat.

[smoothie]

One way to avoid scams is to do your research into what you are looking at before you jump in. Good communities stand the text of time. Had you taken your time you would have not gotten scammed.

[dreamhouse]

scams by same dev groups? typical

[roslinpl]

I'm curious as to what made you choose those 3? I find that if you look around the forum you can get a sense of which coins are more likely than others to succeed. Just looking at the names of those 3 would make me question them right off the bat.

Well... about Payzor Coin - devs wanted a game which I developed for them, so automatically I joined PayzorCoin community as my reward for a game was some amount of PayzorCoins.

About ClusterCoin & UseCoin - Bittrex's volume magnetized me to buy some. I am very lucky cause I am not rich and my lost was not big. Just 0.xxBTC...

I didn't invested during IPO sell I just bought few coins after trading was launched.


You know ... For me alt-coin's market is just like - buy some, wait some, sell some etc. Instead of only few interesting altcoins when I approach to any other I think only about making fast profit = high risk.

I threat only 1 coin as a real currency and it is BTC.

So always when I am trading some altcoins for some little profit I know that it might go down.

But ... thing is if coin value is waving during pump'n'dumps or whatever external forces ... it is acceptable and there is always a risk about will you gain % or no.

Thing is that 90% of altcoins are perhaps scam. And when coin developers are killing their own coin ... trader can do nothing. Just sell sell and run run with -90% profit

I know that altcoin market is crazy but those scammers are making me sick.

Pump'n'dumps are not fun also. But it is how those market works and what can we do about it ... learn to trade while pump'n'dumps.

But when devs are scammers ... then well ...

I was thinking about this all day today.
And I have no idea is it possible to be stopped - I mean, scammy devs...

Crypto currencies are mostly about being anonymous/fast transactions/low fees

Someone can say "CryptoAsian's PoD is great idea!"

Proof of Developer?? Yes well.. this is maybe some security but we cannot force coin devs to show themselves.

So well ... if Proofs of ID aren't very good idea and wont work for all of the new coins what else?

Checking source code, blablabla... yes yes. But many scam coins are "OK"... just well ... devs are dumping millions for xxxBTC and running away.


A "SCAM HUNTER" is needed. Someone/a group of people who will track all of those scammers

One way to avoid scams is to do your research into what you are looking at before you jump in. Good communities stand the text of time. Had you taken your time you would have not gotten scammed.

I was reading a forum about those coins... I haven't found any good proofs about that those coins were a scam at the moment when I was buying (ClusterCoin/UseCoin).
This is perhaps true but it wont work with "new coins".

Reasonable is to never join any new altcoin community. Never buy new coins.
But this is not an answer to all of the coins.
Some of them became a scam after a longer while ...