How do I know if an altcoin is a scam? - page 8.

tabas

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Quote from: irsykes on June 15, 2021, 01:20:20 PM

Quote from: tabas on June 14, 2021, 06:23:32 PM

Quote from: irsykes on June 14, 2021, 02:59:10 PM

If me, in early investment of my life i will took a coin that already in big market.

This should be the idea and strategy of most newbies must do. From what I see, they're putting their hopes with the newest coins and think that they're going to grow big someday.
But most of them got it wrong and the newest projects are likely to bound from being dumped and that's really the mistake that they should learn. Investing to a coin that has already a huge market.

In other side, they see from other people who really "specialized" into new coins especially when BSC tokens in pancakeswap really in a trend. From what i see in facebook group that i joined, there are some people who bought first and then they act like "sales" so other people buy tokens that they bought and then they take profit from it.

Well, that's a strategy for them to bring liquidity to the coin that they're voicing out. It's either they're volunteering just to help out the market of that coin to improve or they're paid to do that.
They know that they can get more people involve to their token sales in different platforms and mostly to the common social media websites where most of the people who wants to earn don't ask too much.

irsykes

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Quote from: tabas on June 14, 2021, 06:23:32 PM

Quote from: irsykes on June 14, 2021, 02:59:10 PM

If me, in early investment of my life i will took a coin that already in big market.

This should be the idea and strategy of most newbies must do. From what I see, they're putting their hopes with the newest coins and think that they're going to grow big someday.
But most of them got it wrong and the newest projects are likely to bound from being dumped and that's really the mistake that they should learn. Investing to a coin that has already a huge market.

In other side, they see from other people who really "specialized" into new coins especially when BSC tokens in pancakeswap really in a trend. From what i see in facebook group that i joined, there are some people who bought first and then they act like "sales" so other people buy tokens that they bought and then they take profit from it.

jaberwock

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

You're still a newbie, so why not invest in old projects? I will even prefer to invest in Bitcoin than any of these new projects that I am not sure about their future. You run more risk of being scammed when you're investing in a project that has anonymous team. And there are so many of them these days, so it's best to avoid them, because you can wake up any day and they are gone, and there will be nothing that you can do about it. So, it's better to stay clear from them.

Best to go for projects that you the team that are behind it and you're able to verify their social media pages and that they are truly who they claim to be.

laohe628

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It is hard to tell, some of the scam altcoin you just need one look then you will know, like those meme coin. Some are hard, i think it's a good idea not to invest in currencies you don't understand.
If you have a lot of faith in a coin and are convinced that it's a x100 coin, then hold it.

justdimin

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The vulnerability of this very scam project is still too high because of the hype of the new project from the bsc network, you must be wise in maintaining assets so that you are careful to invest in new projects or old projects, there are many indications of scam projects that you need to know before investing or even to invest. short term trading.

That's the thing about this topic, what are some of those things? I mean how will we know if it is a scam or not?

I personally look at who is the project founders, because if they are doxxed and they are known that means one step is down, founder being there and showing their face and talking about it on youtube videos etc etc is basically dropping the chance of a scam by half, still not impossible of course, there has been people who scammed even with a professional company information registered in big countries and went to jail for it, but that is a lesser chance then some unknown staff staying anonymous.

Secondly I look at their code, if they stole and copied it from someone else, then why would I trust them to do something that is wonderful? I mean it is obvious that we are not going to see them provide anything new so there is a chance they might be scammers. There are other ways as well that I probably do not know.

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look at the type of project and usually the team has a clear explanation if the project is good, whereas scam projects can use the same team over and over again, the case is like they create a new project and use the same team name in the project.

the best way is still to do in-depth research on the team, and the concepts they work on. sometimes, some scam projects create fake teams, or copy concepts from other projects. Besides, if you don't find any flaws, then it's likely that the project is actually pretty good at executing it. however, there are some projects that are sometimes irresponsible, which become scams after everything has been released.

yazher

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

You can only spot one when you are a veteran on joining bounties where when you look at how they managed their group and Ann thread, you will have an idea of what kind of project they are. However, we have lots of ideas to know them today because some people have already listed what are the possible strategies of those scammers so the only thing you need to look at are those lists and the rest is up to you because there are some scammers who are hidden, you only know that they are scammers when their project is finished, they won't gonna distribute the rewards.

nomenclatur

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

it's clearly a scam most devs offering 100x profit are just bullshit because at this moment the market has not really recovered a new project that offers 100x profits in the near future it's a 100% scam impossible new project can make investors take that much profit impossible You have to be careful investing in new projects because most scam projects are not worth it, after listing, they will usually experience a decline, most of which are only detrimental.

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Quote from: capcaypro on June 14, 2021, 12:41:48 PM

who determines whether a scam or not is up to you because no one knows about it. especially when the project is new, the risk is certainly very high.
and this is where we have to be really observant in choosing a project, of course there is a risk but it's not wrong when we try but with a note the project must be clear

By simply slipping on their reviews, you can find if that project is a scam or legit. Some scammers are very smart and that is why we can hard to know if their project is fake or not until such a time that we lose our money after investing. This thing can't be stopped but as an investor, we also need to be smart and must spend time digging and searching if that project is worthy of an investment or not.

tabas

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Quote from: irsykes on June 14, 2021, 02:59:10 PM

If me, in early investment of my life i will took a coin that already in big market.

This should be the idea and strategy of most newbies must do. From what I see, they're putting their hopes with the newest coins and think that they're going to grow big someday.
But most of them got it wrong and the newest projects are likely to bound from being dumped and that's really the mistake that they should learn. Investing to a coin that has already a huge market.

Meta anggraini

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if its a real 100x token? Any advice?

The projects look solid and have a registered company in Singapore, but i dont think the potential could be 100x.
Its hard to predict a potential of the token, but if you believe on the value of the project just hold it.

irsykes

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If me, in early investment of my life i will took a coin that already in big market. Maybe there are a lot of coins that maybe promise us good things. But better to be safer than high profit. But that is my personal opinion. Because although a coins really hyped, sometimes their dev can leave us at any moment.

isaac_clarke22

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Quote from: Anonylz on June 10, 2021, 09:31:00 PM

~

Indeed he seems to be. I wouldn't be surprised if he gets banned from spamming too much of those.

Rug pull, eh? Surprised that many bounty hunters complain a lot when the project didn't give their tokens while not having to get a research at first.

capcaypro

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who determines whether a scam or not is up to you because no one knows about it. especially when the project is new, the risk is certainly very high.
and this is where we have to be really observant in choosing a project, of course there is a risk but it's not wrong when we try but with a note the project must be clear

barabarian1

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no evidence to proof that coin is real, no scam.
people start invest by selecting from who manager bring it, because, good manager cant accept every ico they have. manager will look, research about that project to proof what they being is real, most importantly is paying participant

CaptainCrapper

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Quote from: LemonMaker on June 09, 2021, 02:04:35 AM

Hello, I'm new here and I wanted to ask something I've been confused about for a few days.

I recently got into an altcoin (called startup boost token) and the devs are doxxed and presale LP locked, they claim to have live use case and all.

I want to know how I can determine / what kind of questions I should be asking to know if it's a real 100x token? Any advice?

If you Reed wheat papers and if you see the team are genuine or active on various media platforms then you can expect the project is good.

FairUser

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Quote from: Sendi blackspade team on June 10, 2021, 09:46:23 PM

Quote from: FairUser on June 10, 2021, 09:23:48 PM

Does the OP want to hear from the depths of our thoughts,
Those who have been in this field before are always trying to share all the knowledge they know.
I don't have a lot of advice, but listen and respect the experience of those who have gone before, so it can be applied to your best friend, and depending on your ability it will bring you the following results exactly what your ability to reach.

I myself am still having a hard time being able to distinguish with certainty a project that looks good from a good campaign manager but apparently, the team does not make payments or development.
I used to always follow some good managers for the projects I was following. but I have proven it, not all projects held by the manager that I hope are good will be successful. sometimes someone pays but tokens can't be traded because the team runs away.

I don't know what problem you are having, but I think don't get too greedy with different projects. After many years in this field, I now realize that the market has a lot of tools to test and evaluate a project. And I also don't have too much problem in assessing whether a project is good or not, of course it is a personal assessment.

deathcode

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Join some communities that you trust, such as in telegram groups or other social media. You can discuss the project you want and discuss it with them. The main thing you have to pay attention to is the team, roadmap, whitepaper and others.

Yes, everything you said is a very good solution, but right now these things can still be manipulated so that everyone can trust them, this is why everyone should always check first so that the project they trust can be really safe to follow.

but everyone also has a different ability to analyze each project. that's the problem. but fortunately, in this forum, we can see that many people care about the development of the forum and the crypto market. some publish projects that are indicated as scams and provide tips for analyzing projects with indications of a scam. it is up to us to develop our abilities.

Vaculin

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Winding down.

Some of them are pretty obvious but some also are not, we can just know that they are scams when someone does the reports.
I do believe that we've done our thorough research but we can't just deny that some legit projects turn into scams especially those who don't have a working product.

Investing in crypto is not totally safe and too risky especially when investing in new projects. That is why do suggest for the investors just invest more in old coins rather than thinking x100, x1000 returns for new and unreliable projects.

Cling18

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Check the legitimacy and the reputation of the team behind the project. If you're having a second thought then you can look for other great projects with a reputable and trusted team. As for me, it would be better to invest in a well-established coin with a strong foundation. It's hard to trust most of the new projects these days.

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