Topic: Anonymous a red flag? - page 4. (Read 569 times)
Anonymous team is definitely red flag for me, how can I entrust my money into the hands of some unknown people who might be scammers or not, but the chances of losing that money is very high compared to the chances of getting it back, I can't afford to take such risk to trust a stranger, what if they run away with the money? how I'm I going to be able to trace them and get back my money? In order to avoid such drama its better to stay away from projects with Anon team.
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.
Of course there are anonymous developers who may have legit intentions and good ideas that will result in success products, but it's still too risky for investors. Especially because we have many other options to invest with relatively less risk in this crypto universe.
In these times I think they should just show their selves to the public. It will increase the credibility of the project, that way also they trying to say that' hey we've shown our faces and we won't run away". That type of feeling the investors will feel they won't be left out. Many people are just afraid to invest in people they barely knew. Well it's still for those who manage to do it anonymously, I can't even think of one right now aside from bitcoin.
They already explain the reason why some of the team members decided to stay anonymous, if there will be a legal implication when their identity is revealed, it will of best interest they stay unknown, however, staying anonymous will not give the project the level of trust the project would have, many investors are not very comfortable investing on project without knowing anything about the team, i know i would be skeptical too, Project with team profile information still manage to rug pull and exit scam much less of those who are anonymous. It is up to investors to decide to take the risk or not.
Of course it is going to take a while before people realize that, and of course some people will keep scamming others hiding behind being anon, but that doesn't change the fact that you should not share who you are.
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?
As others in this thread already mentioned here it depends on the type of project in my opinion. If they are doing a new privacy coin or a project that protects your identity on the internet than it just makes sense that the team wants to stay anonymous.
Privacy coins are not allowed in certain countries as far as i know so it makes sense that the devs don't want to be known there. If they ask for a lot of money though and still don't want to reveal their identity than it's very questionable in my opinion and i personally would not invest in a project like that, because it just seems to unsafe and a rug pull is more likely this way.
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?
IMHO, I believe that if you are doing any fundraising campaign like ICO, IEO, IDO, etc. and you are hiding your identity for me that was a huge red flag because you are not sincere in what you are doing by not showing transparency to your possible investors. And a modus like this is very common during the 2017-2018 ICO crazed, resulting in massive losses of investors money due to exit scam projects. But if you are not doing any fundraising campaign by selling any coin/token to the investors maybe that was a slight consideration to stay anonymous.
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.
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?
It depend of the project.
If a project like Bitcoin or Monero have totally anonymous people crating them like Satoshi or thankful_for_today, it is totally fine. They did not sold anything to anyone. They just had chance to mine coins and pay electricity just like anyone else.
If a project like Etehreum or other ICOs have anonymous people creating them and selling tokens to others, that is a scam and you should stay away.
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!
In these times I think they should just show their selves to the public. It will increase the credibility of the project, that way also they trying to say that' hey we've shown our faces and we won't run away". That type of feeling the investors will feel they won't be left out. Many people are just afraid to invest in people they barely knew. Well it's still for those who manage to do it anonymously, I can't even think of one right now aside from bitcoin.
They already explain the reason why some of the team members decided to stay anonymous, if there will be a legal implication when their identity is revealed, it will of best interest they stay unknown, however, staying anonymous will not give the project the level of trust the project would have, many investors are not very comfortable investing on project without knowing anything about the team, i know i would be skeptical too,
Project with team profile information still manage to rug pull and exit scam much less of those who are anonymous. It is up to investors to decide to take the risk or not.
As an investor we are looking for a project that is being managed by the professionals, and if those guys are not that proud with the project they are doing, then I guess its not worth it to buy and that's a big red flag to me.
Maybe some are afraid to show their true identity because of being afraid to be blame if the project fails, but seriously knowing the team behind every project can actually boost our confidence as an investors. No matter what the result of the project is, as long as you didn't scam people, you are still good.
Maybe some are afraid to show their true identity because of being afraid to be blame if the project fails, but seriously knowing the team behind every project can actually boost our confidence as an investors. No matter what the result of the project is, as long as you didn't scam people, you are still good.
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?
In these times I think they should just show their selves to the public. It will increase the credibility of the project, that way also they trying to say that' hey we've shown our faces and we won't run away". That type of feeling the investors will feel they won't be left out. Many people are just afraid to invest in people they barely knew. Well it's still for those who manage to do it anonymously, I can't even think of one right now aside from bitcoin.
legendary
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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?
Yes, for me it's a major red flag if the project is not already listed and they are running an ICO or IEO, any form of funding raising campaign, I wouldn't advice to invest in such a project as the risk of it being a scam is too high, but if the project is already listed, and some how, they didnt run an ICO or IEO, then the risk is lower but you still have to invest with caution, personally, I hardly invest in ICO or IEOs with anonymous team, infact, I never cus the couple of times I've tried, I ended up loosing my money, so I stopped totally, but assuming the project is already listed and the team is anonymous, I will check how the project have been running, if the project have been running consistently for like 2 years, and they been able to accomplish significant parts of their road map in those years, I will look at what they plan to do in the future, if it catches my interest, then am likely going to buy but if not, it's still a no no for me. 
I would not dare try to buy anything from them if I am in your position.
That is, if they are selling anything. Being an investor you will try to avoid high risk project and this is one example.
If it's just an airdrop then nothing is to be worried about.
If the coins has no ownership/control then it would also be okay. But, you will need to prove that first.
Since you are in doubt, isn't that already a red flag? Maybe orange?
That is, if they are selling anything. Being an investor you will try to avoid high risk project and this is one example.
If it's just an airdrop then nothing is to be worried about.
If the coins has no ownership/control then it would also be okay. But, you will need to prove that first.
Since you are in doubt, isn't that already a red flag? Maybe orange?
Premined coins with anonymous project is quite suspicious because we cant compare these projects with bitcoin so just consider avoiding them unless the project idea is really good and having potential in the future crypto space.
Developers actually have the right to work anonymously if they don't feel safe/ok revealing their information
I think Anonymity would be problem if you don't have effective and morally/legally allowed means to easily trace the persons behind anonymous account if they go rogue(commit serious crime) or try to go rogue. Same as people using pseudonym, and even people using real names but can't be persecuted if they go rogue
I think Anonymity would be problem if you don't have effective and morally/legally allowed means to easily trace the persons behind anonymous account if they go rogue(commit serious crime) or try to go rogue. Same as people using pseudonym, and even people using real names but can't be persecuted if they go rogue
Anonymous is not red flag, also Satoshi was anonymous but you need to do DIOR. Many Defi projects were anonymous devs and it was a success.
More important factor is trust build by an anonymous dev.
More important factor is trust build by an anonymous dev.
They reason out that satoshi have done that but satoshi don't have the intention to scam people. Unlike them, look at the difference, they're putting it out on a crowd sale and they're wanting to remain anonymous. It's a red flag if ever you get into a project that's taking your attention, please don't do it or make your own research and be responsible about it because you're aware that projects and developers that have chosen to kept their identities off the public while making a huge project is suspicious.
Be careful with any project that developed by the anonymous developers. There are lots of cases the anonymous developers were running away with the money or rugpul its platform and take all of the money.
Anonymous developer = scam
There must be exception for some trusted project that already developed by the anon team but mostly scam projects were coming from the anon team. it's a red flag
Anonymous developer = scam
There must be exception for some trusted project that already developed by the anon team but mostly scam projects were coming from the anon team. it's a red flag
legendary
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A recent trend among DeFi projects was that they would remain anonymous and launch a project using anon social media handles to keep in contact, telegram, twitter and so on.
I have encountered such projects and had openly asked the admins why they are remaining anonymous - their reply was that since the owner of bitcoin is anonymous they also wish to be anonymous. This is a serious red flag since like what @mu_enrico said, Satoshi never sold anyone a project's tokens. People bought bitcoin with their money which Satoshi did not have control over. The case is very different here.
Such projects have a very very small chance of being legit. Invest at your own risk. IMO, staying away from them is the best way to go.
I have encountered such projects and had openly asked the admins why they are remaining anonymous - their reply was that since the owner of bitcoin is anonymous they also wish to be anonymous. This is a serious red flag since like what @mu_enrico said, Satoshi never sold anyone a project's tokens. People bought bitcoin with their money which Satoshi did not have control over. The case is very different here.
Such projects have a very very small chance of being legit. Invest at your own risk. IMO, staying away from them is the best way to go.
Nowadays, anything new with anonymous team is always a red flag, especially when they are conducting ICO/IEO. The only think that makes anonymous team as a pass for me is when the project is self-funded and of course no huge premines. Anyway, even self-funded projects isn't 100% safe.
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