Quote from: ardentvolcanoes on August 22, 2021, 09:37:07 PM

Quote from: brooksby on August 22, 2021, 09:19:20 PM

Quote from: firmino10 on August 22, 2021, 08:37:37 PM

This is actually true, 95% of crypto coins are fraudulent. And the main reason for this is the lack of regulations in the crypto market. That is, anybody with good knowldege of blockchain and smart contract development could just code or develop any crypto coin with the aim of scamming people. Regulation is really needed in the crypto market.

Maybe there is a bit of confusion between fraudulence and just bad quality. I guess that there are many people who start a coin or small teams but the coins are just shitty. In total though I agree with you guys that certainly 95% are bad or fraudulent. It is very rare and very seldom that you find a raw diamond which is worth investing but still doesn't look like it. That is when there is the biggest opportunities these days. That doesn't however mean that I recommend focusing on these unknown coins. I recommend to focus on the strong coins where we already know what they have to offer.

If you value your time and your money, focusing with strong projects will allow you to lessen the chance

of wasting both your money and time, not as quick profits as many always dream to achieve but more safer

for your investment, small but continuously working in progress, it's good for long term investment and

it can generate decent passive income.

How could I say you are wrong? You are of course right, but the problem is that you just don't always know for sure whether it is a good one or a bad one. Let's be honest though, that is the same in the stock market. Only a few got rich with Amazon, most of us didn't because we simply couldn't believe the book seller Bezos had in mind. So you either have some trouble with the team sometimes, or with the concept. If it's both I would skip immediately, if it is only one there is doubt coming up inside me but I still tend to give a project a chance from time to time.