Topic: How to avoid your altcoin being called a scam? (Read 914 times)
This issue is getting way out of hand with people accusing proper ICOs to be scams without any evidence. It's been trending for the past few weeks here on bitcointalk. They were just making us panic and when we ask them for proof they remain quite. We invest a lot in this ICOs, they shouldn't make us panic like that.
Be honest and work your best to deliver what you promised.
All ICO coin is been called scam and its up to the people who if they will believe in this word spreaded since some of them are lies and want to ruin the project. And their are some ICO coins right now whose been succesfully competing with the great trades and became one of the top coins on marketcap.
Well, I think the foundation should keep its transparency for the top priorities. Because this is the most powerful way to increase your altcoin's trust.
Also, you should keep in mind that you should always watch on any faults on the system.
To avoid your altcoin called being a scam always remember that being honest and giving well trusted answers to commonly asked questions. Most importantly to have a high security to your altcoin.
As an investor, what do you think legit altcoins should do to make sure to avoid being called a scam?
Here are a few of our ideas. You can read them all in the full article here: https://www.sparkchain.com/blog/how-to-avoid-being-called-a-scam/.
It can't be avoided, you can see iconomi at the team has changed the decision about the dividend into the buyback method and what happened? A lot of people were blaming the team and called the iconomi token just a shit and scam token. but a lot of the iconomi holders already rich from there. because that doesn't have high accuracy. Too many people just want to make a troll. Here are a few of our ideas. You can read them all in the full article here: https://www.sparkchain.com/blog/how-to-avoid-being-called-a-scam/.
- Develop written guides and video content to answer commonly asked questions.
- Be transparent about what you will do with the money you raise from your ICO.
- Find your biggest fans and encourage them to help other customers.
- Make security a top priority! Even if your ICO is not a scam, there are scammers out there who will try to take advantage of your ICO.
Premines are a sure-fire way to be called "scam" (even though that is not necessarily the case). So in order to avoid to be called scam for that, I would do no premine.
On the long run, you just keep not being a scam. Do not dump coins, do share some to people worth it and interested, solve user problems (no connections, transactions not working, etc.) and support the coin. That will make many think that, after all, your coin is not a scam.
On the long run, you just keep not being a scam. Do not dump coins, do share some to people worth it and interested, solve user problems (no connections, transactions not working, etc.) and support the coin. That will make many think that, after all, your coin is not a scam.
fud is part of any project that will be develop its just an indication that some interested parties are trying to shake the coin or they are
just wanted to bumped the thread and allow more members around here to read it and became curios in regards to that we really cant
say that a project is scam unless he did it.
just wanted to bumped the thread and allow more members around here to read it and became curios in regards to that we really cant
say that a project is scam unless he did it.
Any token that is not confirmed by a working product, I view as an attempt at fraud. Any!
Better I once make a mistake and call an honest man a fraudster than give my money to the bandits 99 times.
Better I once make a mistake and call an honest man a fraudster than give my money to the bandits 99 times.
The community will always have people that will say any project is a scam.
Don't try to fight it.
Do your best.
Be transparent (with the product, with the funds you raised/raising, with the roadmap), be available 24/7, let your future investors know that you are always there for them no matter how stupid their questions might be.
Don't try to fight it.
Do your best.
Be transparent (with the product, with the funds you raised/raising, with the roadmap), be available 24/7, let your future investors know that you are always there for them no matter how stupid their questions might be.
nothing will prevent people from calling an altcoin as scam!
you can see many are still calling bitcoin scam. of course that in case of many altcoins is true but in case of many it is not.
in my opinion the only way to prevent it (reduce it at least) is to be as transparent as possible.
i see many coins with pre mines or with ICOs and a lot of weird things, and when these things happen, it is obvious that people are going to call your coin as "scam" because you have been acting shady.
remove the premine, remove the ICO and release a clean code with clean roadmap and fair distribution and nobody dares call your coin scam.
you can see many are still calling bitcoin scam. of course that in case of many altcoins is true but in case of many it is not.
in my opinion the only way to prevent it (reduce it at least) is to be as transparent as possible.
i see many coins with pre mines or with ICOs and a lot of weird things, and when these things happen, it is obvious that people are going to call your coin as "scam" because you have been acting shady.
remove the premine, remove the ICO and release a clean code with clean roadmap and fair distribution and nobody dares call your coin scam.
Have active development, road map that you actually stick to, have active slack/telegram channels in which you give updates to your investors and a good marketing team
if you dont want to call your coin a scamcoin, you should have good foundation in the business, know the how the business will go, direct investor to your path, be transparent to your investor and participant, be active always, should have well trained dev and team, concrete project and knowledge about marketing and tech. dont run an ICO is you dont have one of that traits for sure your coin will be one of the others..... good luck mate.
If you make an alt coin, people are going to call it a scam for sure. Be active and engage 24/7 and MAYBE you can hold the fudders off a little.
If you even need a guide on how to make your product not be called a scam, you shouldn't even have an altcoin anyway.
Study, go to school, and learn how businesses and tech work. You have no business making a coin/business if you don't know the basics.
Study, go to school, and learn how businesses and tech work. You have no business making a coin/business if you don't know the basics.
I think as a community we can't do something much because there will be always a lot of people making fud but the teams of projects can do something to avoid their projects being called scam.
basically they shouldnt be fooling people, they should do what they really promised to investors during their crowdfunding, many ico's after the end of their crowdfund had been gone and quite, if you want people to continue trust you weekly updates about the project's development is a must.
Be always open to a discussion. Have a Nice team, have a product. Solid roadmap, good Bounty campaign, experienced ceo. Thats the basics of an ico.
Don't forget about code quality. I've seen some nice projects being ruined because of security flaws on their code.
There is no coin that was not called as a scam yet and if the claims have no proof, they are not important. Can you predict how many people called ethereum as a scam?
Be always open to a discussion. Have a Nice team, have a product. Solid roadmap, good Bounty campaign, experienced ceo. Thats the basics of an ico.
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