I very much doubt that "cheaters" are the downfall of crypto projects. That is just silly. A real project won't fail no matter what.
Why are you worried about cheaters? You worrying about the wrong thing. Worry about the projects cheating us no the other way around. Why do you want to protect them?
Topic: Cheaters . who caused the cryptocurrency to go down - page 4. (Read 703 times)
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 you had learn about cheaters the you must create a reputation thread about this person or report to those thread created for something bad doing here in crypto because if you just let them continue their bad habits here then surely this community will die in futureWe need to do necessary actions if we found things that is not fair for everyone
lots of cheating, from scams, multiple spam and dump accounts. related to project safety, it seems that the team itself must have the initiative, for example there are two new channels, dubbed security token offerings (STO) and initial exchange offerings (IEO) worth testing, to understand what is really needed by each opportunity.
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
I guess that's one drawback of being (psuedo) anonymous in this market. One can hide and used a lot of accounts to cheat one or multiple projects at the same time. But I don't think that this could be the biggest problem why projects die. They die simply because their project doesn't add something to the crypto verse. If your project is something unique then it could still flourish and survived whether we are in the bearish or bullish trend. The problem is that most is not unique per se, and when taken advantages of fraudsters and pump-and-dump groups, it can't recover, specially when the hype die down.
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
There are cheaters in every business, its not something you can prevent. From Fifa officials rigging big matches to retail employees stealing from their place of work. Its just human nature for a lot of people to want more and it will never be completely prevented.
. I think there needs to be a company specializing in combating fraudsters. Cryptocurrency can grow
that is why kyc is being put in place, projects that requires kyc from participants will suffer less dump, because only few participants will enroll If you take a good look at project that requires kyc, the number of participants is far more lesser than those project which does not conduct kyc. So In my opinion kyc is the solution for now
Cheaters != Viruses.
There are lots of cheaters with Bitcoin and Bitcoin faucets in the past, but they did not force Bitcoin down. It is same for ICO, IEO, or altcoin projects. Only weak teams force their projects down because of incapable to develop their projects technically, and are unable to build up big communities.
There are lots of cheaters with Bitcoin and Bitcoin faucets in the past, but they did not force Bitcoin down. It is same for ICO, IEO, or altcoin projects. Only weak teams force their projects down because of incapable to develop their projects technically, and are unable to build up big communities.
Your opinion still vague.
But one things for sure that someone called cheater can't be alone to affect bitcoin value globally.
They must be in group because crypto getting complex from time to time !
But one things for sure that someone called cheater can't be alone to affect bitcoin value globally.
They must be in group because crypto getting complex from time to time !
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.
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.
The problem lies partly on the bounty managers. We have many dishonest hunters which are causing harm to the project. The BM, should always employ Proof-Of-Authentication "POA" post which they have always have done, and participants should always sign up with google form and IP should be tracked, and proxy IP tracked too, and the part of authentication using telegram can be incorporated too, and a project can partner with a third party to detect multiple accounts. all these are just few steps to getting rid of cheaters.
I think there needs to be a company specializing in combating fraudsters.
There is one already and you have access to it, it's called common sense, just use it
IEO is a lifesaver for investors if not for this,
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?
This is absolutely right, I've been wondering also what because I'm always like does IEO guarantee that a project is good? . Although I've been into cryptocurrency since 2016 but I fell into several traps.
I see a right answer here because I wanted to participate in an IEO which took place in Bitforex month ago but I was late.
Now, when I check the token, I see it far less than the IEO price and many investors are not happy in their Telegram group.
Definitely, IEO doesn't mean a project won't turn out to be scam and No IEO or ICO doesn't mean its not scam also as I can think. We just need to use our Brian not heart.
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
Let's changed the story, let's say if ever an investor dumps a $5,000 worth of tokens that bought during ICO, you will assume that the project will surely fail?
Don't blame those cheaters. If you will look at the bounty allocation, only few go to the bounty program and that $5,000 worth of token is just a small portion of that bounty allocation. Just do the math from there.
If you are talking about bounty cheating inside the forum's premises then report that user to the mods with complete details and proofs.
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.
It isn't really clear what OP is talking about, but the industry just needs people with common sense. People who think it is reasonable to "earn" 5% per day with no risk don't have that. Likewise these projects if they are awarding coins without doing some due diligence have no reason not to expect to get taken advantage of. It is the projects that need to reform their practices.
The ICO scene actually introduced the Bitcoin scene to a lot of new scammers and cheaters, because it was a easy way for people to present a "fake" project under the cover of a anonymous persona and also using a pseudo anonymous payment method.
To make things worst was the this was being done during a time where legitimate ICO's were making millions and these scammers preyed on people's greed. Advertising was also very easy, because they used large social media platforms to advertise these "Get Rich, quick schemes" ...but things have changed now that large social media has banned Crypto currency based ICO's.
To make things worst was the this was being done during a time where legitimate ICO's were making millions and these scammers preyed on people's greed. Advertising was also very easy, because they used large social media platforms to advertise these "Get Rich, quick schemes" ...but things have changed now that large social media has banned Crypto currency based ICO's.
OP,
It is so easy to blame on cheaters for failures of crypto projects, but the fact is cheaters don't have kind of huge negative effects like that.
They usually dump their coins/ tokens that they received by cheating, but what do they have after dumping all those cheated coins / tokens? Nothing.
Additionally, cheaters obviously cheat Facebook, Twitter, Instagram, Steemit, but please tell me: "Have all those platforms gone down due to cheaters?"
It is so easy to blame on cheaters for failures of crypto projects, but the fact is cheaters don't have kind of huge negative effects like that.
They usually dump their coins/ tokens that they received by cheating, but what do they have after dumping all those cheated coins / tokens? Nothing.
Additionally, cheaters obviously cheat Facebook, Twitter, Instagram, Steemit, but please tell me: "Have all those platforms gone down due to cheaters?"
I don't think cheaters can make a project lose their money because if that happens, then there is something wrong inside their project. They should know that the cheaters can participate in their projects, and they need to prevent that thing. If they cannot handle that thing, then yes the project will fail.
If we say about the rewards for the bounty hunters, the rewards are not too big depends on the total amount of the tokens so the team can cover their losses by using another strategy. It is their job to prevent the bad thing that will come to their project, and they need to know how to solve the problem.
There are a lot of projects but only some of the project which can get success and if the project success then maybe we can call that the project was good enough to compete in the market.
If we say about the rewards for the bounty hunters, the rewards are not too big depends on the total amount of the tokens so the team can cover their losses by using another strategy. It is their job to prevent the bad thing that will come to their project, and they need to know how to solve the problem.
There are a lot of projects but only some of the project which can get success and if the project success then maybe we can call that the project was good enough to compete in the market.
I am more curious how did you saw that person creating a lot of accounts, I mean, did he call you and show that he's doing those accounts and scamming people?
By the way, this is a decentralized community, it is hard to track people and that is why they can create multiple accounts and scam people. That is the reason we need to be more knowledgeable since if we investors can identify a legitimate project from illegitimate project, scammers will stop doing what they are doing. Another thing is that not all of these projects are planned well that is why despite garnering a lot of investors, their project still failed.
By the way, this is a decentralized community, it is hard to track people and that is why they can create multiple accounts and scam people. That is the reason we need to be more knowledgeable since if we investors can identify a legitimate project from illegitimate project, scammers will stop doing what they are doing. Another thing is that not all of these projects are planned well that is why despite garnering a lot of investors, their project still failed.
I think there needs to be a company specializing in combating fraudsters.
There is one already and you have access to it, it's called common sense, just use it
IEO is a lifesaver for investors if not for this,
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?
I think your idea is right in some sense that they have hid themselves in exchanges so that investors would believe they are real but I think is still better than not being listed at all.
Now, with the coin in exchange, you can also sell if you are lucky before a shit project gets dumped finally.
Its the whales who wants to accumulate more btc who controls the market, its them that causes the price down. Of course those who sell in low price but that's just it. If you panic, they win. Bounty cheaters just earning pennies but those early investors will dump before bounty cheaters collect some usds.
I saw a person who created a lot of accounts to cheat and eat over 5000 $.
Where did you saw this person? Give us some more info so that guy can get what he deserves. You guys have to understand that if you see something wrong you have to act not sit aside and complain.
If we don't take actions to stop those scammers how can the common people accept the crypto currency as a secure solution. They just gonna ignore everything crypto related and never come back.
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