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Those glory days have not reappeared yet and there are still many projects that are only looking for short-term profits and not for the long term, so it is not surprising that many projects are short-lived and cannot survive because they are not worth maintaining. Right. I think that being able to get a good project at a time like this is something of invaluable luck. There are many scams, and you can't avoid things like that because it's the current trend. It's sad that every time a new project appears its certain it won't last long, and not a few actually disappear and leave their investors, running away with the results they've collected.
This is the reason why I always say that we must focus on investing on those established coins already or those who've been in the market for a long time. Most of these new projects are either scam or can't sustain or survive like you said for many reasons (ex. lack of community, developers being incompetent, etc.). There are many scams indeed, and you don't know which are which so in order to lessen the chances of getting scammed, why not just invest into old coins. For me, that would be better. Lesser profit though, but the risk is lower as well and at the same time, lesser stress for you as an investor.
Gone are the days where bounty hunting can give you 4-5-digit free money. It happened at around 2017-2018 I think when I'm starting, and I've gained some free money, but not the same as those who've been into it for a longer period of time.