Any new frontier( like crypto) will bring scam and con artists. The crypto world is chalk full of them.
Look at the top 10 crypto-currencies.
- Bitcoin - not a scam. You have people on the fringes but the protocol itself is not a scam.
- XRP - might be a scam; unlimited supply, supported by big banks, minimal holding levels, etc.
- Ethereum - not a scam, but a failing crypto. Most of the ICO's it has allowed to be created are HUGE scams.
- Stellar (I don't know enough about this to comment) I believe it has unlimited supply, so that is a terrible feature
- Tether (this is very controversial and might be a scam), they havent proven that they actually hold the USD they purport too.
- BCH - Fake bitcoin is possibly a scam. If not a scam, a weak coin.
- EOS - people love EOS, but c'mon its really shady, its a scam.
- BSV - Satoshi Vision is fake, fake, bitcion. 2 wrongs don't make a right, total scam
- Litecoin (a copycat, but not a scam)
- Tron - Don't know enough.
11-100,000 - absolutely full of scams, some aren't but simply won't make it out alive.
As you can see,and I know its mostly opinion, but there are a lot of scams in the crypto world. Especially since it is new and unregulated. I think non-regulation is a positive aspect in general, but it creates potential for people to be conned into massive scams. This is why I'm becoming a Bitcoin/Litecoin maximalist. I just don't see the scams in them. All the other top 10 currencies I simply do not trust. This is supposed to be a trust-less system. This space is going to be brutal for people who don't choose the right coin. Maybe its 1. maybe its 10. But I see more scams than honest companies. Be careful out there. Hell even the steemit coin (not the platform) is somewhat a scam. No one makes money on this platform except for the founding fathers.
Have a good day, rant over!!!
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