Read this several minutes ago. We must be vigilant on what we are investing and must do some research or study first if the project that we wanted to join is legit or not. So sad that there are some ICOs who are just making money for their own sake. Because of this issues,
people becomes scared of cryptocurrencies and thinks that other cryptos that are legit are scams too.
http://www.livebitcoinnews.com/denaro-ico-raises-8-7m-and-goes-up-in-smoke/People should be scared of shitcoins. That's the painful truth! There's so many crypto scams out there that it can be compared to walking on a minefield. To put your money in, profit and get out requires you to take a number of steps on the minefield and chances that you'll blow yourself up are high. People are lying to themselves thinking they can outsmart the scammers and that's how it ends: in tears.
Actually, people should be cautious of anything that looks too good to be true. Take a look at almost every crypto/blockchain project that's launched seeking venture capital since 2017 at least: looking past their initial pricing, and taking into account the sheer percentage that they've shed since their ATHs in December or January, I'm guessing that a lot of people are sweating out huge losses... if they haven't already cut losses earlier (unfortunately adding on the selling pressure to fellow holders).
I'm not saying it's a good thing for investors, I feel sorry for those who genuinely thought they were about to "enter the new era" and only hope people invested with money they could afford to lose. But some words of comfort to those who bought the real McCoys - Bitcoin chief among them - is that this will result in a much-needed pruning of the cryptomarket. Kill the shitcoins so the remaining good ones can grow properly.