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/biz/ - Business & Finance

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22317905 No.22317905 [Reply] [Original]

How do i differentiate legitimate coins/tokens from something like bitconnect?
t. Newfag

>> No.22317925

>>22317905
>insert money [HERE] to get a huuuge return. Just send it to us.

>> No.22317940

>>22317905
Read the white paper. Read the team members and what they've actually done. If it's a ponzi then don't buy into it. Make sure the project doesn't have a way to "mint" instantly so to speak.

You should actively avoid highly shilled things on /biz/.

For example Ducato. Ducato is an obvious scam just from the threads alone. However PNK for example isn't because they talk about use cases, the tech, etc.

PNK might fail, but at least it isn't a complete scam.

>> No.22317996

a ponzi scheme is something that people buy just to sell at a higher price.
others are the ones that are getting bought/transacted as part of a service, where the change in price doesn't matter to the user

>> No.22318113

>>22317905
all crypto is a scam.

>> No.22318182

If it’s like startera where it’s automatically trading crypto for you or arbitrage trading it’s a scam. If they had a bot that made profitable trades they would just use it themselves. Anything like sushi yfi type shit is straight up BITCONNNNNEECT

>> No.22318212

>>22317940
Are you saying PNK isn’t a scam? I assume everything other than LINK is a scam it’s the only one to stay sane on this board.

>> No.22318334

>>22317905
Learn what the project does. Is it necessary? Do you have a vision for where crypto even is taking the world?
Also never trust projects with black people leading, chinks are also risky

>> No.22318349

>>22318212
PNK is not a scam. However it is not link, or the next link, and the memes are borderline milhouse. Still a decent long term hold.

>> No.22318366
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22318366

>>22317905
Simply purchase digital oil and wait.

>> No.22318470

>>22318182
t. brainlet
yfi pays 10% of profits that a strategy generates to its maker. the chances that you have 10x all the money in a vault to profit off is tiny and it will only get smaller

>> No.22318516

>>22318212
Projects can fail, it doesn't mean they are scam. Even Sushi isn't a scam. Product is still there and generating tokens.

>> No.22318705

>>22317940
i bought yfi at $40 without reading anything
sold half stack at 10k and another 25% at 38k

>> No.22318710

there are no more than 10 legit public blockchain projects. Rule number 1, is that everything is a scam until further investigation. If it´s centralized, it is 100% completely useless, as cencorship resistance is the only underlying usecase of a public blockchain.

>> No.22318735

>>22318349
pnk is centralized piece of shit. You cant have decentrlized courts when the project itself is centralaized. It´s uselss until it becomes decentralized enough