How do we prevent or remove scams and frauds in ICO once and for all

lifesgood10

member

Activity: 378

Merit: 13

Quote from: fivefingers on August 05, 2018, 06:50:54 PM

My question is exactly as the title of this thread is. What do you think is the best way for the whole crypto market to completely remove fraud ICOs and ensure safety in the market?

This is quite impossible because we can never stop people from been stupidly or foolish
There are several people in this crypto space and even though they are equipped and educated
They end up gambling

Maybe we should focus on stoping gambling in the crypto space

Nalbo

full member

Activity: 874

Merit: 125

The world is full of frauds even in the real world. When it comes about your hard earned money, you should be really aware of it's safety.
You should personally research about any investment option and be sure you are not risking more than you afford to lose.

reactorjuno

member

Activity: 322

Merit: 43

Quote from: fivefingers on August 05, 2018, 06:50:54 PM

My question is exactly as the title of this thread is. What do you think is the best way for the whole crypto market to completely remove fraud ICOs and ensure safety in the market?

Don't take my reply personally but the issue with many here is that they got into crypto-currencies hoping to get free money out of air. Laziness does not deserve rewards

All that time spent reading about airdrops, instead you could have been learning how to better understand cryptos and how they work: why some have a real potential, why some have 99% chances to fail, why some have 99% chances to be a scam, to boost your chances of finding the good one!

Altcoins are going through difficult times but there are still coins with a real potential to become big. But some of you (and more and more on Twitter) are listening to some scammers on how to get free tokens that will be worth nothing. Hopefully you will learn your lessons, the earlier the better! Tongue

Tipstar

sr. member

Activity: 1932

Merit: 300

Vave.com - Crypto Casino

I see regulations from local authority to be the only way to prevent it. Every ICO need to be registered according to the local law and complete prerequisite works before issuing an ICO and should have an independent audit of work and investment. This way investors would feel more secure and the team would be more dedicated towards the success of the project.

jhache

full member

Activity: 518

Merit: 100

There is no way to remove all of the scams, the more we remove scams then the more they come up with even more ways to scam people. What we can do though is to educate people to the best of our ability about how they can avoid being scammed. Knowledge is power and if people are armed with it then the scammers will have much less victims.

truemmu

newbie

Activity: 44

Merit: 0

Every industry has scams, and ICO has scams without exception. We can't completely stop these scams and frauds, but we can seriously study the white paper/road map of the ICO project before investing to understand his team, products, etc. Improve your ability to recognize, government agencies can make rules, regulate ICO, and minimize investment risks

xcbjsuw

member

Activity: 420

Merit: 11

Maybe there must be regulation for the ICO, so not just anyone can make a fake ICO that ends scam.

universal3ee

jr. member

Activity: 406

Merit: 2

Quote from: fivefingers on August 05, 2018, 06:50:54 PM

My question is exactly as the title of this thread is. What do you think is the best way for the whole crypto market to completely remove fraud ICOs and ensure safety in the market?

I does not think there is anything we are able to do to stop all these scams and fraud. Government bodies can set rules and regulations or even go to the extreme of banning it in the country but when there is a making money market scammers will always try means and ways to make some profit out of it.

o_e_l_e_o

legendary

Activity: 2268

Merit: 18711

Stop being stupid.

The reason that almost every ICO is a scam is because there is no shortage of idiots who are willing to throw their money at them. Despite the fact they are obviously trash, they have crap whitepapers/roadmaps, inexperienced teams, no product, etc. newbies continue to give them millions of dollars worth of money. Until the idiots stop, the scam ICOs will continue.

fivefingers

newbie

Activity: 84

Merit: 0

My question is exactly as the title of this thread is. What do you think is the best way for the whole crypto market to completely remove fraud ICOs and ensure safety in the market?

Topic: How do we prevent or remove scams and frauds in ICO once and for all (Read 130 times)