I'm doing a research on a new project right now and I see that the team decide to go anonymous, is staying anonymous a red flag for newbies?
If you asked this a few years back i would also support anyone who wants to be anonymous but we have seen a fair share of scams in the past and now a days if a project is planning to raise money then they need to be transparent but if they are coming up with an open project and there is no plans in raising money then they can be anonymous. 
Topic: Anonymous a red flag? - page 3. (Read 569 times)
I do not entertain project asking for financial support but are anonymous. Bitcoin is anonymous but it gain support because people already tested it and the fundamentals is incredible. Some developers idolised Bitcoin and also scammers trying to copy its standards to gain advantage to their potential victims.
The problem is bitcoin didn't even need the fund to create the best crypto in the world and satoshi nakamoto was the best guy in the world. This makes people will be careful with any anonymous project that was asking to get the fund for development purpose. So many parties were always marking the anon dev who wanna get the fund instantly as a big red flag.
Satoshi got a big success even without the fund.
I think that mostly of unskillful developers will always hide their identity
I'm doing a research on a new project right now and I see that the team decide to go anonymous, is staying anonymous a red flag for newbies?
I don't think that all of the anonymous project should be red flag we still need to do some research if they are worth it,Remember that Bitcoin has anonymous creator all we know is the pseudonym Satoshi Nakamoto which is the King of crypto.
Truth remains that even with team members who are supposedly known, projects can scam too with the excuse that they couldn't continue. They soft exit and that's the end with investors' funds not returned. There's a project I did a bounty for in 2019 or so. The project did an ICO and raised a hell of cash, got the project listed on two average exchanges and then abandoned the project. Team members were known because during the ICO stage there were series of AMA and several seminars held too. But till date no legal action has been instituted against anyone. My attitude towards crypto investment is to invest cash I won't miss if I lose it. I have bought into many projects without knowing their team members and the tokens are doing well, at least. To me, anonymous team members isn't a red flag.
The team goes anonymous but still ask for fundraising? Every other projects I knew that have anonymous teams have no ICO or any fundraising strategy in work, for example monero, bitcoin and others, I'm not sure such project will end well, they can rugpull easily if they want since their identity remains hidden
I do not entertain project asking for financial support but are anonymous. Bitcoin is anonymous but it gain support because people already tested it and the fundamentals is incredible. Some developers idolised Bitcoin and also scammers trying to copy its standards to gain advantage to their potential victims.
I'm doing a research on a new project right now and I see that the team decide to go anonymous, is staying anonymous a red flag for newbies?
This image looks like the one on mocktail swap bounty project? Well team staying anonymous doesn't mean they are scam, I have interest in the project too but I ignored it because I wasn't so sure until the team decide to use Certik foundation which means a real prove of serious auditing, I hope this change your mindset about the project 
But airdrop etc. If there is a distribution with things and the project in hand will distribute the crypto money for free, it may remain. But others will be dangerous.
airdrop from the anonymous developers are not worth to be tried consider it has a very big chance to be another garbage coin and we should only stick into the legit airdrop. I will never try to trust the anonymous developer except satoshi nakamoto as the most trusted person in crypto.
We should not waste our time to promote the high possibility of scam project. this will make others got trapped by the scam project.
Aside from being anonymous, there are other things that comes through my mind about coin or token creation. And that is coming from the concept similar to DOGE which is a meme coin. I mean DOGE has no purpose, no real world use, and is shunned by many. But many made some big money when Elon Musk talked about it a few months ago. Is there a possibility one can make a meme coin and be able to stay anonymous?
In fact, not all anonymous is scam project. Sometimes developer or team just dont want to reveal their name. Let say bitcoin, bitcoin its self created and founded by anonymous " satoshi nakamoto ". But its better to invest to the project which you know the information as much as u can. If you wanna do big investment maybe you can do meet up first.
Really depends but in my opinion if they are asking for money like creating ICO or any other crowdfunding method and decides to stay anonymous then that's a huge red flag for me, doesn't matter how good a project I won't invest to some projects that decide to hide their identity, it's like giving away money to stranger and hoping to get your money back with profits but that's just my preference to choose a project that has clear identity of who behind the project.
It is even probably worse than that, if you were to give money to a stranger at least you have decent chances of getting all your money back as they will either not accept it or not understand what it is happening and give you your money back, but in this case there is a very high chance that those that hide their identity are scammers and are not interested in developing any kind of project and it is all a front to steal your coins thinking people are going to ignore the fact they have decided to not reveal their identity. 
It shouldn't be. Bitcoin was an anon project too. On the other hand, if you have to invest money of your own, I'd never trust an anonymous team.
I support anonymous projects but these never needed my money. If you want my money, you better tell me who you are and where you come from;) Not that this stops them from scamming!
I support anonymous projects but these never needed my money. If you want my money, you better tell me who you are and where you come from;) Not that this stops them from scamming!
btc was the first and was the only coin during it's time, even btc face some opposition while evolving, many people tag it as a scam and warned people to stay away, btc did not develop into a world class asset without any oppositions, and that was then, this is now where scam is the order of the day, i myself will not trust a project without a team, anything can happen and your funds will go into thing air.
That's very true, and until today people still tag it as a scam but as I said the most important difference here is Bitcoin never actually asked anyone to invest anything. You could buy it or sell it or even use it without funds (like to verify hashes and make random drawings or even sign authenticated messages).
Imagine you didn't need to BUY anything to use Bitcoin in the beginning.
As for me, it is not bad to make their identity publicly. If they arent go against any kind of bad intentions, revealing themselves and showing off to gain trust from investors will be good if ever.
There is nothing wrong being anonymous, its just that if they reveal themselves sincerely and making sure they are doing the project seriously, then much better for the devs, participants and investors.
There is nothing wrong being anonymous, its just that if they reveal themselves sincerely and making sure they are doing the project seriously, then much better for the devs, participants and investors.
btc was the first and was the only coin during it's time, even btc face some opposition while evolving, many people tag it as a scam and warned people to stay away, btc did not develop into a world class asset without any oppositions, and that was then, this is now where scam is the order of the day, i myself will not trust a project without a team, anything can happen and your funds will go into thing air
Bitcoin could be on a different level compared with the new coins created by anonymous developers. I should remind you that dude so many altcoins were created by the anonymous developers are only forking the existing code and no more. Did you remember about BTG, BTCD and so many bitcoin fork coins that created by anon dev? these coins become scam coins right now.
The climate in crypto already changed and the anonymous team is a big red flag to call that a scam coin.
There are so many project as well who reveal their identity but eventually scamming their investor. Actually it depends on your trust or your persistence when you analyzed the project. I have a few times to invest in new project that they decided to hide their identity and greatfully the project is good and given me some profit.
Indeed, I agree with user who say that bitcoin creator is anynomous as well and until now he stay anynomous although its price is getting high time by time. So, this is pointed out that anynomous team is not guarantee the project will deceive a lot of people.
Indeed, I agree with user who say that bitcoin creator is anynomous as well and until now he stay anynomous although its price is getting high time by time. So, this is pointed out that anynomous team is not guarantee the project will deceive a lot of people.
I'm doing a research on a new project right now and I see that the team decide to go anonymous, is staying anonymous a red flag for newbies?
Not always the case but most likely with having anonymous developers do turn out to be a scam in the end of the line which i wont really be suggesting on touchingoff these kind of projects or do tend to make out some investment on them.Always go into those developers who do shows off their faces or does have crdibility
when it comes to their capacity and positions on a certain project.At least when they do turn out to be a scam then you can still have the able to trace them on
and possibly do really make some legal actions towards them on that case.
How is it possible for us to place complete confidence in a project that is being managed by anonymous developers, about whom we know nothing. For me personally, I can only trust them after two years or more, because with the passage of time I will know if the project is worthy of trust or not!!!
You must be wise before making any decision, try to move away, do not invest in projects like this, wait for the right time.
You must be wise before making any decision, try to move away, do not invest in projects like this, wait for the right time.
For sure.
For most altcoins, even though they are nominally decentralised, a part of the value that they pose comes from the development team that's backing the project.
By going anonymous the project is essentially forgoing that part of their value, and any investors who decide to take part would also be worse off as a result. This is not to mention the hundreds (if not thousands) of ICO scams in 2017-18 that involved fake/anonymous teams. Do not invest.
For most altcoins, even though they are nominally decentralised, a part of the value that they pose comes from the development team that's backing the project.
By going anonymous the project is essentially forgoing that part of their value, and any investors who decide to take part would also be worse off as a result. This is not to mention the hundreds (if not thousands) of ICO scams in 2017-18 that involved fake/anonymous teams. Do not invest.
I'm doing a research on a new project right now and I see that the team decide to go anonymous, is staying anonymous a red flag for newbies?
I mean for me yes for a newbie you could totally disregard projects that have an anonymous team because there was no actual reason to do think in a project. If they were really a legit project I can't see any reason why they need to do this aside from most of the top projects these days that don't really have anonymous developers or something or a CEO. For a newbie, there was no reason for you to take the risk especially if your planning to invest in that project or an ICO or something. There are tons of project that is way less risky that going for something like anonymous developers that could potentially or easily be a scam.
Taking the sentence from the image shown..
Well, this sentence alone is a very huge red flag especially if they are asking for investment such as getting funds from crowdfunding. It is not wise to deal with a project that would have a legal issue prior to the previous company of the said developer.
Quote
Two of the main devs are ex-developers from high tech companies working in the same industry and revealing our identity is currently risk, legally speaking
Well, this sentence alone is a very huge red flag especially if they are asking for investment such as getting funds from crowdfunding. It is not wise to deal with a project that would have a legal issue prior to the previous company of the said developer.
Jump to: