Topic: Altcoin season, scam altcoin projects will appear. Check their Githubs first - page 4. (Read 1598 times)

Forget about Github, most projects these days either turn to scam or the coin become shit. Even those with working products are not left out. They will be around for a while and probably get delisted and turn out to be a scam. For the past two years, I have not seen any project that is doing wonderfully well in the market. Many of them are dead or still struggling. I currently join GYMREWARD project and I have been seen a message about how many of the team members are compelling people to buy their token and they were given them an assurance that  they will profit

I have seen a lot of updated projects working on Githubs but until finally they became shitcoin and died in this market. Even many projects have finished MVP products and test net but they suddenly disappeared. Obviously, we cannot avoid scam projects. There are too many scam cases in this market

Looking at a projects github doesn't always tell the truth behind a project. Stakenet is building stuff that has never been seen before, and to protect it from thiefs they develop parts of their project in private until release day.

They've been working on a Lightning supported DEX, and a multi currency wallet with Lightning Swaps. It's one big application, has taken more than a year to code, so it's no wonder if they want to protect themselves from projects who could potentially just steal their code, release first, and get all the attention.

bump

I doubt that most of altcoin investors care about technical things behind projects they intend or already invested in. Maybe they don't know about our forum but my topic was created to help people who at least spend their time to search and by any means they find our forum and they deserve to know how to do their own investigations on projects and make their own quality assessments on them.

I hope those investors will see my topic, which will help them.
Rely on works of the others (scam accusations on our forum) or any websites (reviews) is bad way. Because crypto is the one in which everything changes very fast. Altcoin projects appear everyday and you should never wait and depend on works of others to decide invest or not invest in altcoin projects. Their works can be right or wrong.

Great thread. The chances are someone has studied the project before you find it, so I'm usually also giving the projects a Google search like this: " scam".

Most of the time BitcoinTalk threads and other review websites pop up if there are any accusations against it and, if the proof I find on the websites is enough, I don't need to check anything else. Might save some precious research time

luckily this is not a thing yet. and i suspect it is mainly because 90% of those who invest in altcoins either have no idea what github is and even if they did they wouldn't understand a thing of it, or they don't care at all about how active (or not) the github repository of that shitcoin is, instead all they care about is the pump and dumps and the profit they can make and an active github repository or a dead one is not going to change that.

Github is only one of the thing investors have to look at and consider before they make their decisions to invest or not invest in one project.

If investors see bad things on Github, stop at it. If they don't find bad things on Github, let's move to the other things. ANN threads, coin specifications, number of premined coins, ie.

Even having rich Github profile with lots of activity doesn't guarantee that a coin isn't shitcoin - things like that can be faked by making useless commits, and you probably can buy github stars in the same way people buy like on instagram. Altcoin becoming more and more similar to hyips - everyone knows they are scams, but still keep investing in them, because they hope to "win".

yeah that's a feature or a problem with GitHub, it counts everything in forked projects too.
for example here is a bcash repository: https://github.com/Bitcoin-ABC/bitcoin-abc/graphs/contributors it doesn't even show that it is a fork of bitcoin core under its name (probably because they didn't click the fork button, instead downloaded and uploaded the whole thing) but the contributions are still there because they copied the git folder.

Details in the guide of Github:
I did not see any project like that (maybe just because I did not see them). Nowadays, if one project is born without Github, it is very hard to scam investors. I know there are always stupid guys will be scammed with whatsoever scam method but for average-knowledgeable investors, if they don't see Github, they won't invest. As being said in OP, Github does not a guarentee at all.

Not only funds but also personal information. Many new exchanges where new coins are listed also require KYC now.

Some of them don't even github. Even if they, some are closed for review.

For newbies, github is usually the last place they would check and most of them probably don't understand what is it for.

---

You know it's that time again when you see a lot of these new projects come out of nowhere. They will just mint their tokens on ethereum blockchain, create a new website, whitepaper that's most likely plagiarized and they're all set

Many of those users who invest in this archetypal pump and dump coins have so much more of them in their wallet, the ones that have reached rock bottom and they are waiting for a miraculous rise for them to sell them off, and also many that aren't even trading at all on any exchange, no one is buying, just sell orders. But they are still more than ready to jump into either investing in the latest ICO or carrying out tasks for them.
This projects aren't "traping" investors, imo, it's their greed and nonchalant attitude to follow the right process that ends up with them being trapped with zero value altcoins.

the problem with "copy coins" is that they are copying the "git" too which is basically a list of all the commits that the original developers made. for example in case of Dash you can see a lot of commits and contributors but majority of them are "bitcoin core" developers that developed "bitcoin core" not Dash. but since Dash is a fork (aka copy) of bitcoin core it also has all the historic commits (sometimes they also pull the commits from the original project).

More also, ensure to check the team behind the project before proceeds to invest with them. We have seen lately how the whole scam scene have been change by these crooks to get newborn investors trap into their project. Soon scam projects will pump up and these newborn will get their ass into their net, for those who will obey and read round the forum will be SAVE.

Nice instructions. I would just like to extend that people should look at other social media sites as well.
Check the Twitter page, take a quick look at the Telegram channel the project has. What kind of discussions are conducted there. Is it mostly spam, dreams of the project mooning and stuff like that. You can get a good feeling of the project based on the community that talks about it. What kind of information are the admins giving out?

Check out the website on http://whois.domaintools.com/
If it is brand new website, it's a read alarm.

Don't risk and download a brand new wallet on your computer. In 9/10 cases these brand new projects will rely on the Etherum blockchain so you don't need separate software wallets. 

Altcoins are mostly shit in crypto. They are copycat, zero-value, were born and die shortly after that.

There are some sort of risks when you decide to invest in newborn altcoins:

• They are pump/ dump coins. You will mostly buy at peaks and sell at bottoms or at worst, can not sell them when price falls to zero.
• You have to take risks by downloading and installing their wallets that potentially contain malwares, and other threats.
• Buying and trading them on newborn exchanges potentially put your fund at risks (when exchanges made scam exits).

Above are some vital risks of newborn altcoins. It is especially true if those projects are born in altcoin seasons, like what we have seen now.

Their wallets are mainly zipped/ compressed to force you downloading and beat AV softwares.
Their account ages (on Github) are young (newborn).
Their ANN threads are written like trash (if you spend time to copy and paste their ANN threads' contents, then search by Google or plagiarism detecting tools, you mostly find plagiarism proof.

It is so easy to make your coin, by cloning source code of the others. It is not too hard as you imagine.


Contributions
Zenon project: https://masternodes.online/currencies/ZNN/
Github: https://github.com/zenonnetwork

See contribution calendar at the overview tab:

Sometimes, you will have links that lead you to page like this one: https://github.com/zenonnetwork/ZNN-Node-deployer
So, you have to click on the link to zenonnetwork overview page, like the image shows.
IMAGE


Repositories page
https://github.com/zenonnetwork?tab=repositories
Insights
https://github.com/zenonnetwork/zenon

Then, you can check some tabs: contributors, code frequency, etc.
The data for Zenon is very little, so I will use the one for DASH to give you an example
https://github.com/dashpay/dash/graphs/contributors
To check more, you should visit their core developers' contributions:
https://github.com/codablock

Join date
Github changed so now you can only see join date at overview page of each account.
Before that change, the join date is display right under username.
Don't invest in coins that have Github accounts were very lately created. I don't judge all of them are scammers or bad developers but if you don't afford to lose your capital, don't invest in such newborn projects with newly-created Github accounts.





https://help.github.com/en/github/visualizing-repository-data-with-graphs/viewing-a-projects-contributors
https://help.github.com/en/github/setting-up-and-managing-your-github-profile/viewing-contributions-on-your-profile#contributions-calendar
https://help.github.com/en/enterprise/2.13/user/articles/viewing-contribution-activity-in-a-repository
https://www.vice.com/en_us/article/vb9v33/github-bitbucket-repositories-ransomware
https://guides.github.com/activities/forking/#making-a-pull-request