Cheaters . who caused the cryptocurrency to go down - page 3.

ene1980

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Quote from: ohyeahhaha122 on September 06, 2019, 11:01:20 AM

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die.

I would like to have some clarity regarding what you are trying to explain here, who created lot of accounts to cheat what and what does a good project has to suffer when some random people create a lot of accounts Roll Eyes

. The success of a project depends upon the quality of innovation they are coming up with with and if they are of no good it will die off and no third person can scam any project.

Dungmmo

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whtchocla7e

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Your post reminds me of bounty hunters who cheat using more than one account, even those who use dozens of accounts with bonus programs. The money they receive when they sell will affect the value of the project.

suhadi88

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Fraudsters become the biggest problem in crypto. It decreased the quality of the ICO project because many fraudsters utilize the project. It is natural that many projects have failures and investors lose money.

Fraudsters make ICO and IEO's reputation a negative. So, I personally strongly agree when there is a team that checks to combat the scammers. And to improve the quality of the ICO project.

Finestream

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I think you are referring to bounty cheaters here.

Well, we cannot avoid those cheaters as they are everywhere, and it should not be blame to them, instead, blame it to the project operator as they are the ones who are in control, and they should be aware that cheaters do exist, if they are aware, they can always make some good measures.

Anyway, I think this is still not the main reason why the project fail, the main reason is the lack of quality of the project which boils down on how the team handles the project because bounty allocations are limited but the money they can attract could be unlimited if the project has a great potential as investors will surely see that.

shark1006

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Quote from: ohyeahhaha122 on September 06, 2019, 11:01:20 AM

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

If we are talking about ICOs, then there is an SEC that separates scam projects from the true. If you want to have a profit, take part in IPOs on large exchanges or just trade, it will be with the maximum trust

slaman29

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Quote from: Coyster on September 08, 2019, 05:55:45 AM

Quote from: LogitechMouse on September 07, 2019, 07:54:40 AM

Cheaters are like viruses to the IEO's and ICO's already and they are growing in a rapid rate. What I mean is in every ICO or IEO that is launched, there will still be cheaters on it. It is either the bounty hunters, the investors or the team itself.

I would not blame the bounty hunters that cheat on the campaign or the investors, they actually have little evil effect on the project.

Are you sure?

I've seen projects giving out 5% of their bounties and raise a moderate amount of money, and then come listing day 5% of tokens are dumped, mainly by cheaters who send all their tokens to a main account to dump on exchanges on listing.

OF course, what do you think happened to the price now?

And when you spend all your allocation to promote but it actually went to cheaters who promoted to bots. You have nothing left and your project gets a bad reputation for being shilled and spammed.

That's a terrible effect!

yazher

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Quote from: ?? on ??

I don't think cheater will cause the project to go down. If you are referring to hunters with multiple accounts then it was not a problem as every project has bounty fixed allocation in which the more the hunters that they are is the more the fixed allocation will become small when divided.

I believe that he was saying about those hunters that have some multiple accounts, that's why when I see a legit project they often use the method of KYC to be able to participate in their campaign because this is the only way to prevent those cheaters for joining with their multiple accounts but the consequences is a little bit risky though.

meanwords

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It's not like cheaters are able to destroy a legit project though, it was the project that has destroyed itself. Bounty hunting is but a small portion of the whole portion of the project. No matter how many bounty hunter dump, they are still insignificant if the project is legit and has a proper innovation. Cheating is always wrong but I doubt they are able to destroy a project.

jostorres

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Quote from: ohyeahhaha122 on September 06, 2019, 11:01:20 AM

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

Bounty cheater are not the main reason why projects do fail because that can easily be controlled by the developer and even if bounty cheaters are cheating, the company still meet up with the target of the fund they are raising over time, we might have bounty cheaters, but that is not to say that all the people that participated in the campaign are cheaters.

These projects usually fail after the project fund has been raised, and that is the responsibility of the developer to protect the fund by utilizing it which they don’t, so these developers themselves are the cheater because they are only for the money and not the projects, while I agree that we have some fraudsters that do allow projects to die after they have been launched by Hacking them, but that can easily be controlled through a simple regulation.

Coyster

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Quote from: ?? on ??

This is a fact, after MB8 coin ICO some hunters that cheated the bounty earned more than usual and after the said token got listed, few weeks later the market crashed because of the dump of the coin which is 99% from the hunters that cheated the system...

So because a few hunters actually got more coins than they ought to, the project crashed and you believe the project would have survived had it not happened that way, I do not quite agree with this.

It's in the nature of bounty hunters to dump coins on listing, forget about if a few got a little more than they actually were supposed to, and it's normal that after such dump the project would experience a nosedive for a particular period of time, but a good project would always recover from such slump and still survive on the market, for the fact that a project crashed that way and never recovered is a sign of a bad project(fault of the team)that probably had nothing to offer in the first place.

Oyarebu

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Quote from: Upgate on September 06, 2019, 03:21:02 PM

You must mean bounty hunters cheaters those joining a particular bounty with multiple account. They are more in altcoin bounties they are so greedy that not only do they have multiple account the still lay their hands on articles with different account also

Absolutely correct mate, the problem is with the breeding investors and the breeding bounty hunters. Many projects have prospect and with good team but, the big problem come in through these greeding micrants in the name of invest or promote the project. Until we have shun ourselves of greediness, we will be seeing projects going down on daily basis as we have seen in the past. Regulations should be the only remedy to this market, and we need it at this time.

sehoon

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IEOs are just well-disquised scams, that's all.
So they pay a fee, you buy their tokens and....what guarantee do you have those tokens will be worth something? None!
But you fall for it because the useless token is already on an exchange and you feel like this gives them some kind of legitimacy. It doesn't.

Just because you know the team, you know where their office is, they are listed on an exchange, they are paying articles to promote themselves is not a guarantee it will not turn into a scam. Remember bitconnect?Centratech? How would have an IEO saved you from it?

[/quote]

Does this go without saying that all IEOs are scams? From my experience, I really don't have any good experience with IEOs though. But I do join bounties that have something to do with it. This is a thought provoking statement and I never thought of this before and just joined the hype.

Coyster

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Quote from: LogitechMouse on September 07, 2019, 07:54:40 AM

Cheaters are like viruses to the IEO's and ICO's already and they are growing in a rapid rate. What I mean is in every ICO or IEO that is launched, there will still be cheaters on it. It is either the bounty hunters, the investors or the team itself.

The success rate of the ICO right now decreased drastically within the past 3 years including this year because of different cheaters. This is one of the reason too why most investors doesn't want to invest in ICO already or IEO unless a popular exchange launched it.

Isn't that enough reason for one not to invest in ICO or IEO bounties, the chances of success are near zero and I consider it foolishness to keep taking that same risk all the time.

I would not blame the bounty hunters that cheat on the campaign or the investors, they actually have little evil effect on the project. The team is the one to blame for the incessant failures of such projects, until they decide to work on what actually their project can offer to the cryptocurrency network, they'll continue to fail, not to talk of the fact that most of them are scammers waiting to run away with investors money, leaving them with worthless coins.

finaleshot2016

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Quote from: LogitechMouse on September 07, 2019, 07:54:40 AM

Cheaters are like viruses to the IEO's and ICO's already and they are growing in a rapid rate. What I mean is in every ICO or IEO that is launched, there will still be cheaters on it. It is either the bounty hunters, the investors or the team itself.

The success rate of the ICO right now decreased drastically within the past 3 years including this year because of different cheaters. This is one of the reason too why most investors doesn't want to invest in ICO already or IEO unless a popular exchange launched it.

That's the reason why there's a lot of ICO and IEO that's failing due to improper way of promotion because of cheaters. It's also the reason why some devs of the platform are escaping after the ICO because of bankruptcy and no one didn't invest. So there's a lot of scam projects that are existing until now.

--
Regarding about cheaters on bounties, I know someone in our local that have a lot of accounts and they're all in BTC paying signature campaigns. They're just filling the threads with fake conversation and that will lead to the destruction of our own community. The merits are just circulating on them and has a lot of advantages when it comes to debate.

I hope they get banned. Cheesy

migws

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In my opinion it should create a special register based on the Blockchain in which there will be all information about the crypto projects its workers and creators. If the project turns out to be fraudulent, then all participants automatically fall into the block list and everyone will know that these people are scammers and their project is a scam. This information will be recorded on the Blockchain and this will help to protect people from scam projects as much as possible. To get into this registry, each project owner must register it on a valid official site. So how do you like such an idea?

TIDOVEE

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I have always believed the ICO & IEO are setup to help reduce scam and fraudsters especially to favour crypto users.
Even KYC is supposed to reduce fraudulent acts. Now, irrespective of whoever is securing our account. We are also responsible for the safety of our account.scammers are everywhere now voraciously looking for who to victimize. Beware!

maydna

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I guess that will be a mistake because that project cannot control who the cheater is. At least they can minimize the joining of a cheater in their project. They can use many ways to prevent a cheater from taking a lot of profits from the other members. If that happens, then I guess the project needs something else to make sure their project will be safe from the cheaters, although that will be difficult to do.

I think you can see that some project already hire a company to prevent cheaters, and some of them are using KYC to avoid that thing. But if using that way cannot stop a cheater, then there is something wrong with both the project team and the company.

TalkStar

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Scammers always try to commit their fraudulent activities on popular areas. Nowadays crypto is the most popular thing because of its large community. Its the main reason why scammers are targeting crypto related projects for committing their scam game. As like as in every second we are getting new users on crypto world on the other hand bunch of scammers are recruiting too.

I will be happy to get the complete description what actually you are trying to say through this post. Its kinda tough to understand the exact meaning of your thread.

Gahs

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Quote from: coin-investor on September 06, 2019, 12:39:30 PM

Quote from: ohyeahhaha122 on September 06, 2019, 11:01:20 AM

What do you think about the project that spent a lot of money to advertise but was taken advantage of by cheater, I saw a person who created a lot of accounts to cheat and eat over 5000 $, there are really a lot of very good projects. but it is these fraudsters that cause those projects to die. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow

It's actually long overdue, the industry needs transparency and regulation, but the big question is the structure and who will run the regulation, and how transparent they are going to be, remember we all thought rating sites are going to help us scrutinize every project, but they end up conniving wit these dubious projects.

IEO is a lifesaver for investors if not for this, investors will turn their back to crowdfunding and they will just buy coins in the market.

The last IEO I partook in wiped off 85% of my investment.
IEOs are not that better than ICOs...
Lesson learned.

Topic: Cheaters . who caused the cryptocurrency to go down - page 3. (Read 703 times)