Why do some people still think all cryptocurrency projects are scams?
| Image by Jae Rue from Pixabay |
Since the introduction of bitcoin more than ten years ago, we have seen numerous cryptocurrencies introduced into the market. Currently there are more than 5000 currencies, not taking into account those that have already disappeared.
Among the existing cryptocurrencies there are many genuine projects with good business models that are likely to last unless there is a concerted global banning of cryptocurrencies by most, if not all, the countries. And it is extremely unlikely that such an event would ever occur.
Yet there are people who think all cryptocurrencies are scams, ponzi schemes and what not.
Why do they think so?
I would say lack of confidence because of all the other scams out there. Also, common people are typically not risk takers and would rather see other people take the risk, but whether they see it go bad or good, they still will not be motivated to try it.