Topic: Algorithm to find out altcoin scam (Read 277 times)
Crypto currencies are decentralized currencies, these currencies are not centralized to anyone so there are no algorithms that can detect fraudsters but you can use an ancient algorithm that is by using an escrow system that has been automatically programmed by the system, I think this is quite effective
There's many ways to look for the scam project, eg whitepaper, website, reviews etc. However, it is very difficult to find the scan coin/project by only looking at the algorithm, as you will need to be experienced in because you might need to look through the program coding.There isn't any algorithm that are related to scam directly as far as I know, most of the scam project are giving some fake ideas or website to swindle money.
Scams have become the part of crypto and it is very sad event. This discussion is very useful for all of us because I think that we have problems with identification of scam.
At present, there is no way to clearly distinguish who is the scamer. It depends more on your experience. Before you plan to invest, you need to know the project you are investing in, and analyze in detail whether they are scamers.
I'm not sure creating an algorithm to fight something like this is possible. The schemes are pretty simplistic and can be adjusted millions of ways to stop the algorithm from working.
There are quiet a few geniuses here but has anyone come up with a method or an algorithm to find out when someone's scamming people?
well there are some simple things like making a research and reading whitepaper, yet it still can be faked as well. basicly, there's just one major rule - trust your guts
How the algorithm will read people mind to be scam or not ? Algorithm just analized the system and not people mind and scam coin or not cannot be detected using algorithm because the scammers already create the altcoin as well and they distribute on many investors and after that they run away and not developed and support that coin again.
You will not understand what a SCAM is until you first encounter this.
I met some SCAM projects. Usually in the middle of the Bounty they just slow down their work, then completely stop it to the end.
I met some SCAM projects. Usually in the middle of the Bounty they just slow down their work, then completely stop it to the end.
This kind of thing is full of trickery, now by using common sense and a little bit of logic, how can an algorithm distinguish between scam project or not if human who creates algorithm that have feeling, common sense, brain and strong logic can't?
even if there's this kind of things then Im pretty sure that it will be useless, pretty much a gimmick I'd say. It's always better to learn by yourself and then you can automatically distinguish the suspicious ones.
even if there's this kind of things then Im pretty sure that it will be useless, pretty much a gimmick I'd say. It's always better to learn by yourself and then you can automatically distinguish the suspicious ones.
Do your due diligent on researching their whitepaper. You will be able to find out all the information before making any investment.
There are quiet a few geniuses here but has anyone come up with a method or an algorithm to find out when someone's scamming people?
There are too many different parameters that nobody can detect by an algorithm. So, I think it's not possible.
I have a similar list of doing like the majority of other members have I think. And it is really useful thing that helps to minimize losses and be confident.
There are quiet a few geniuses here but has anyone come up with a method or an algorithm to find out when someone's scamming people?
basically find out what country they are from LOL
Why do you say so? How will a country decide how legit they are?
You should go to the social networking sites or communities of that ICO project and consult with each other and you will discover the misleading of the campaign. I usually do it this way
There are quiet a few geniuses here but has anyone come up with a method or an algorithm to find out when someone's scamming people?
How can they see that? I hope it can but I think there are no possibilities that they could see those scammer by algorithm.
There are quiet a few geniuses here but has anyone come up with a method or an algorithm to find out when someone's scamming people?
basically find out what country they are from LOL
Last few months scam ICO s get more professional. They prepare good white paper, make a lot of advertisement, they work hard to get your hard earned money from you. As they are getting more professional we must have more knowledge about scammers profile. My general rule are;
*If they are offering a really high ROI you must be more careful because mostly they are trying to attract more people to scam.
*Check teams linkedn profile, check comments, check their profile creating date. If they do not offer a trusted LinkedIn profile run away from the project.
* If they are always insisting on by mails or by private massage to buy tokens with high profitability run away from project.
*They can never grantee you more amount of money then you intended to invest, if everybody can double their investment in a short quantity of time, then world must have been rich.
*Check if the white paper offers really usable things for our life.
Professional friends can add more rules for that
*If they are offering a really high ROI you must be more careful because mostly they are trying to attract more people to scam.
*Check teams linkedn profile, check comments, check their profile creating date. If they do not offer a trusted LinkedIn profile run away from the project.
* If they are always insisting on by mails or by private massage to buy tokens with high profitability run away from project.
*They can never grantee you more amount of money then you intended to invest, if everybody can double their investment in a short quantity of time, then world must have been rich.
*Check if the white paper offers really usable things for our life.
Professional friends can add more rules for that
This makes sense. I have to make sure i follow these steps from now on!
There are quiet a few geniuses here but has anyone come up with a method or an algorithm to find out when someone's scamming people?
I carefully study the team of each project that interested me. I see whether there are famous people there, whether they hold meetings and whether they participate in various exhibitions.
Professional scammers will find a way around algorithms, we all need to be more vigilant and careful about where to invest our coins. Just check that there is active development and a professional team, this means there is a better chance of success, or at least it's unlikely to be a scam
Last few months scam ICO s get more professional. They prepare good white paper, make a lot of advertisement, they work hard to get your hard earned money from you. As they are getting more professional we must have more knowledge about scammers profile. My general rule are;
*If they are offering a really high ROI you must be more careful because mostly they are trying to attract more people to scam.
*Check teams linkedn profile, check comments, check their profile creating date. If they do not offer a trusted LinkedIn profile run away from the project.
* If they are always insisting on by mails or by private massage to buy tokens with high profitability run away from project.
*They can never grantee you more amount of money then you intended to invest, if everybody can double their investment in a short quantity of time, then world must have been rich.
*Check if the white paper offers really usable things for our life.
Professional friends can add more rules for that
*If they are offering a really high ROI you must be more careful because mostly they are trying to attract more people to scam.
*Check teams linkedn profile, check comments, check their profile creating date. If they do not offer a trusted LinkedIn profile run away from the project.
* If they are always insisting on by mails or by private massage to buy tokens with high profitability run away from project.
*They can never grantee you more amount of money then you intended to invest, if everybody can double their investment in a short quantity of time, then world must have been rich.
*Check if the white paper offers really usable things for our life.
Professional friends can add more rules for that
Jump to: