Topic: Evidences of bad ICO (Read 227 times)

I think that in a good ICO there should have workable product and ICO plan should be very clear about how they will implement their project. All reasoning in the WhitePaper it is just words and often have nothing to do with reality.

Here are tips and tricks to differentiate projects that have good potential and fraud / scam projects to avoid.


1. Read reviews / reviews / news and whitepapers.
Many parties provide good reviews / reviews in text and video form on youtube and display news about a recent ICO project, look for reviews that do not include referral links and sponsored news of the project (advertorial), reviews that do not have a financially profitable motive of course more trustworthy than the words of the parties who promote and seek personal gain. Info obtained from outsiders who do not take personal advantage of this we can compare with the information written in the white paper of a project. Inconsistent and obscure info, technical specifications covered up, unprofessional whitepaper writing with so many write errors, etc., are the hallmark of a project created by inexperienced teams and at great risk for scams or failures.



2. Team developer / project.
The creator of Bitcoin certainly has the right to remain anonymous because basically it does not collect public funds by selling unreleased coins, while the start up project is naturally displaying the info of all the developer teams involved in the development. Re-check the background of the leadership and team members, their previous projects, medsos accounts of long-established team members and have positive social interactions related to the relevant fields. The scam project will not display any photo and information, even if it is usually a team member photo and fake information that will look different from the original medsos account. In accordance with the experience that has happened so far, without any information about the team of developers, it is certain that this project just aimed at a scam.



3. Github,
Many cryptocurrency projects include their technological development info through the github site, from this site potential investors can see the portion of work they have done, the contributions of the members of their developer team can also be checked through this site. Investors who have a technical background / programming can even re-check the quality of the programming code they have created. From this we can also see the technical specifications of the offered coin / token, whether it is just a copy / fork of an existing coin without any advanced development or constituting the creation of a new platform developed purely from scratch.



4. Profit Bid,
The obvious feature of fraudulent projects is the bravery of offering a certain percentage of profit for example 5 or 10% per month on the platform they offer, it is also not accompanied by details of how the target profit can be achieved, it could be enough to say they have bots trading that works automatically gives profit or lending / lending but investors will never be able to check their portfolio and trading history or will never know what business receives the loan from the project to be able to give profit. No business in the world is able to offer certain profit guarantees especially when the product has not been released and tested on the open market.



5. Hype marketing,
Wary of all kinds of marketing hype, promotional types that use fantastic words and phrases and also try to exaggerate the potential of a project without clear evidence, this type of marketing proves to be effective to attract attention for trying to encourage human nature to greedily for profit using techniques similar to ATM fraud or lucky draws by making the victims do not use common sense in making transactions.

Actually, you are right, checking everyting first  may be a better beginning than checking the comments. You gave me an another perspective, thanks for that.

But also a large number of positive comments may alert. They can be bought. Therefore, it's best to check everything first and then read the comments

The bad ico we can compose from its team members, its project prospects, and the technical considerations it uses.

Nice post! I never thought about such deep team investigation, like finding developer phones or message to them in the facebook. That can be really helpful.

Excellent post. There should be a register of good advice like this made as a sticky post somewhere in a "valuable advice forum". Thank you!

In my opinion lackness of the communication and support is the biggest evidence of a bad or scam ICO. Also, If there are so much bad comments about the project, I think not investing in is the best choice.

We can find the evidences of bad ico. first of all collect the information of developers team .then collect all analysis about the project and do all research . so these are some tips by which we can save our investment from bad ico !

I agree this is very important, we know who is on the team and are they legit people and had the capability to make the platform a realization, some scam Ico are using fake accounts to deceive people check the history of every member of the team and you will not get lost.

In simple terms if you want to make sure the ico is legit
1. Check who the people running the ico. Linkedin can help
2 Check the project by going through their whitepaper and website
3. Read feedbacks or what experts has to say. There will always be something someone could say about it.

If its too good to be true then maybe it isnt afterall. So make sure you study the ico before you invest.

It depends on the technological innovation, feasibility, whether it can be landed, whether there are defects, whether the defects can be made up for, the differences between the industry and the industry, and the future development space of technologies and application scenarios.

Community also plays an important part, noob community who keep asking when MOON when LAMBO is just killing the projects

So first thing before buying the coins, join the telegram group and see if the community are helpful. if its full of people who only cares about pricing instead of the tech maybe its not healthy

Also I would add such parameter as a hard car, because some time there is a great ICO, with great perspectives in which there is a little doubt, but it can have a big hard cap, or there can be no hard cap at all, I try to stay away from such ICO, because there is high possibility that after the ICO price of the token will be less then at the token sell.

Your posts is indeed helpful to those who are in doubt choosing the best ico. Team are always one to be considered. I will save this thread for my future use. Sharing such post like this is very helpful. Two tumbs up for this information. Sometimes, I am also not that smart to choose the best and quality ICOs.

I also agree that the team has a big role in terms of implementing projects in any aspects because they were the one initiating the possible outcome of the project. Where in they will be the one processing all the rules and regulations of the organization. How will the payment going and the condition of it.

Yeah, it is important that you have enough enough knowledge before eve thinking of investing into a certain project. It is not an easy task to spot ICO scams, it take experience to do that. This post, may well save hundreds of newbies out there.

Great post regarding detecting fake icos. Adding onto this it will be helpful if u link some data of actual fake icos that have scammed people so people can detect trends and patterns of fake icos and steer clear of them.

This post is great guide for people to judge whether ico they are interested in is genuine or fake. I will referencing this in many threads and discussions.

Most of the time, the success of the ICO project depends on the team.
An excellent team is the key to ICO's success.

Thank you too for a good tip