The cryptocurrency space is still extremely immature. That’s why there is room for so many scams. A time will come where more will be regulated, hopefully not by government but by a crypto friendly organization run by crypto minded people.
It does make everything really interesting though because there is so much happening right now.
Yeah but we went through this same situation in 2013/2014. There were scam coins being created all the time. Total pump and dump scams, ponzi schemes, MLM Crypto Mining Scams....etc. This is the second coming of the scams.
I do like your idea of having a crypto friendly organization that would put their stamp of approval on different projects. Just to give people a better idea of what seems legit and what isn't.
A lot of people don't like to talk out about stuff like Bitconnect. They just feel it is better to just stay positive and ignore stuff like that but it is getting way too big to ignore and some of the main recruiters are making so much money off of it as of now that it is creating a huge gravity well and people are looking to them for advice which honestly is sad.