Quote from: Silberman on March 27, 2023, 06:56:33 PM

Quote from: Pterosaur on March 24, 2023, 07:46:06 PM

Why do every projects that have their stable coins always end up a scam? This question is enough for anyone to think twice before investing in any project g that has their stable coin that is not backed by anything, especially if they are defi projects, they can easily lie about what is backing their stablecoin, the risk here is freakily high, most of them are scam projects.

Even if the project does not begin as a scam it can easily turn into one, because even if they were to back their stable coin with fiat the ratio they promised their investors which will be maintained can always be altered over the life of the project, this means that people are taking a huge risk by investing in those projects, and what is worse is that those coins offer a sense of security to investors and they may not realize that instead they are taking the biggest risk on their short careers.

Even if a project is not a scam, it could also fail very very easily which must be the saddest thing. I mean let's be honest here, there are too many people trying to make their own projects happen and because of that most of them fail. Not everyone has the talent or skills to build their own project. First of all, if you are not a developer yourself, you shouldn't try it.

I cannot explain this better, if you didn't write the code, you are responsible for it, and that means you are going to fail. And there are thousands who did that unfortunately. Took money from people and got someone else coded, someone else designed and someone else marketed it, and they just took the profits.