Quote from: TheUltraElite on March 24, 2022, 06:11:32 PM

Quote from: Scripture on March 20, 2022, 09:39:59 PM

I don’t think just because of Bitcoin, most probably new tokens are here to replicate other project and either to scam people here or to really compete with those altcoins, that’s the only purpose they came here in cryptomarket. We should be able to see their difference and invest only with the good projects.

Hah, correctly said, the main purpose behind them is the rugpulling of money from newbies who are enthusiastic about new projects and therefore they can be labelled as scams. There are those who are not educated enough to be able to detect scams from legit projects in this sector and they fall prey of such scams.

Although not every project is made to be a scam, but strictly speaking, legit projects are like a needle in a haystack. Today some project might seem legit, tomorrow it might go bankrupt and run away or the humongous amount of fake projects will overshadow the legit project.

Use an altcoin, only if you feel it is solving a real life problem, not some made-up thing that is not even a problem at all.

That rugpulling is mainly done in hidden ways for all those who say they didn't even rugpull. I mean if they did an open and obvious rugpull then you are done with it and you should be fine. But there are some places that act as if the project just failed, when in fact they just rugpulled in a sense that they took the money and did absolutely nothing to better the project.

I have to say it is a bit our fault as well, where did this "pay some guys to build a good coin" idea started from? Back in the day you would have to work really hard, and build something new, and you released it, nobody paid you, maybe you held some coins of your own, but that was about it.