Topic: Fishing out scam projects PART 2 (Read 158 times)

I am thinking that many in the forum already knows about what are they gonna do when choosing their bounty projects whenever may it be ICO, IEO or STO I guess that you can sure determine what is legit and what is not, But I think that there are some site that are looking very suspicious but ending up great, in the end, well I am talking about the ICO back when it is not congested enough,

But I gotta admit that I agree with you here a stolen copy paste project can be truly suspicious especially when even the management team is almost identical and you can almost laugh when you have encountered one, But overall I guess this is still pretty obvious indeed.

These recommendations are as old as the world. Especially since the ICO is almost dead, and the exchanges organizing the IEO carefully check the projects before raising funds.

Last time my post was about how you can track ICO websites and know when they've been developing their project to safe you
from scammers that opens website in a week and start asking for funds

Today I'm going to talk about how to detect good projects that have higher chances of success either ICO and IEO projects or even STO .

1) Most of ICO ,IEO and STO projects or should I say almost all new projects entirely don't have existing businesses so they have no way to back up their projects in price value. Projects that have real life business or offices ,companies have higher chances to success e g clear foundation project

2)Those new projects that have no real life businesses depends entirely on the funds they raised from ICO or IEO and if their is value problem to their coin or token they tend to use money from the fund.
Mind you,not all of these projects will use funds they make from ICO or IEO to raise token value, they might not even care which means their top objective is THE FUND. You want to take my advice? Here it is ,projects with no real life businesses are dangerous and we have too many of them in crypto space. Don't forget A.I technology projects,none of them have a real working A.I tech has they claimed ,if they do we would have full life vids, which means its all just a backed up story.

3) The third one on my list is a very popular one ,shitty looking website designs,I don't think its hard to detect a work of professional designed websites, if the project is a well organized one they should be able to make a difference in website appearance. Fake projects at times always use cheap templates or they hire mediocre developer to build for them.

4)Some fake projects have popular appearance of some old scam projects ,their websites always look alike too with almost same contents because they are stolen and even some copy contents from successful projects ,if you are very familiar with ICO projects this shouldn't be a problem once you come across any project that uses copy content it will triggers your thoughts saying to yourself' oh I've seen something like this before' 

5) How do you check whitepapers to find clues if the project have something unique to offer? Whitepapers should consist of all Info's about the token or coin and what the project is all about but what many takes their eye off is future plans ,whitepapers have roadmaps but many whitepapers doesnt state good fact about future plans ,for example they only add
i) mobile wallet development
ii) mobile wallet released date
iii) iOS too or plan to list on exchanges
All this are petty petty no big deal upgrades for any projects but this isn't what a good project should have in whitepapers

Whitepapers should have future plans in roadmaps like
Future partnerships
Steps for making token have more value in future
Implementation of better technologies
Solution for higher adoption rate  etc

And moreover good project with good teams always go for block chain seminars ,events and launches to get expanded and create awareness .

Note: All this doesn't mean that good projects don't fail,they do fail but this have help me a lot from losing money and  headaches when promoting bounty projects too.


Thanks