How to detect Scam ICO/ potential fail projects - page 2.

Phil419She

full member

Activity: 346

Merit: 100

BitSong is a dcentralized music streaming platform

Quote from: 89shaky on September 19, 2018, 02:00:50 AM

Quote from: escalante28 on September 18, 2018, 05:22:06 PM

It's easy to detect scam ICO. The most important is to background check the ICO team members. Research about them if they really exist. There so many way to verified them. They should also doing live streaming for Q&A not just posting about their project. Also check their advisor, you can contact those ico advisor easily and you can ask them for confirmation.

Nevertheless, experienced fraudsters can forge everything very qualitatively, and it will be difficult for us to find a mistake Sad

Definitely true. Even top bounty managers in this forum can fall victim to theses frauds and I have experienced this firsthand. I have always followed top bounty managers to avoid landing on scam ICO but still there is no escape.

Phil419She

full member

Activity: 346

Merit: 100

BitSong is a dcentralized music streaming platform

Quote from: gbale on July 02, 2018, 01:16:54 PM

my joint advice is to see their team whether professional or not.
then read their whitepapper. website brand. roadmap and their target.
then assessing what their products deserve in the market or not.
then look at the minimum amount of investment.
and who their bounty manager if you bounty hunter.

Actually you can do all these steps, and still fall victim to scam ICO. Very good whitepaper, brand roadmaps and even the best bounty manager and still no chance of verifying if that ICO will be successful of not in the end. But if you do your research, theres at lest some chances you'll land into some profitable projects.

iconoclast

full member

Activity: 770

Merit: 102

Matrix Built On An Ethereum Smart Contract

Quote from: celestinamoore on July 02, 2018, 12:58:18 PM

It is becoming more worrisome in the cryptosystem, so many scam ICO and also failed projects. We do so many bounties and end up with useless tokens of failed project.

I am quite an amateur in the system but I know research has to be done before embarking on investing time or money in an ICO by reading about them in different platforms or even checking out their community, team and investors but sometimes I still guess wrong.

I would like to ask the experienced in crypto how to be sure a project isn't a scam and how to determine their success.
I've been following the forum quite a bit and I hope I get response to help me and others enlightened.

Thanks for your time. Much appreciated

By far the biggest factor affecting if the project will turn out to be a scam is the people behind the project. As a general rule I will not work on any project where I am not able to confirm the identity of the people behind the project. Even then you need to accept the fact that you are investing in startups and even with honest and well intentioned people behind them the majority of them will fail. You just have to make sure you manage to invest in the ones that become huge successes to offset the losses on the failures.

killat

member

Activity: 742

Merit: 21

Be the reason someone smiles today

To detect the high potential of an ICO to become a scam you need to do a lot of research. Through the key points to look for:
- website (design + protocol - https to be always used instead of http)
- Whitepaper
- social media activity
- team experience in other projects
- milestones achievement if you're in after ICO
- references on other websites.

I would highly recommend you to have a look to non-ICO projects. (have a look to Staker project in my signature if you're interested)

89shaky

member

Activity: 266

Merit: 10

Quote from: escalante28 on September 18, 2018, 05:22:06 PM

It's easy to detect scam ICO. The most important is to background check the ICO team members. Research about them if they really exist. There so many way to verified them. They should also doing live streaming for Q&A not just posting about their project. Also check their advisor, you can contact those ico advisor easily and you can ask them for confirmation.

Nevertheless, experienced fraudsters can forge everything very qualitatively, and it will be difficult for us to find a mistake Sad

89shaky

member

Activity: 266

Merit: 10

Quote from: celestinamoore on July 02, 2018, 12:58:18 PM

It is becoming more worrisome in the cryptosystem, so many scam ICO and also failed projects. We do so many bounties and end up with useless tokens of failed project.

I am quite an amateur in the system but I know research has to be done before embarking on investing time or money in an ICO by reading about them in different platforms or even checking out their community, team and investors but sometimes I still guess wrong.

I would like to ask the experienced in crypto how to be sure a project isn't a scam and how to determine their success.
I've been following the forum quite a bit and I hope I get response to help me and others enlightened.

Thanks for your time. Much appreciated

I have been involved in the crypto currency market for almost a year, but I still do not understand how to accurately identify fraudsters. Any information will be useful to me

escalante28

member

Activity: 742

Merit: 42

It's easy to detect scam ICO. The most important is to background check the ICO team members. Research about them if they really exist. There so many way to verified them. They should also doing live streaming for Q&A not just posting about their project. Also check their advisor, you can contact those ico advisor easily and you can ask them for confirmation.

PancherBitCoin

sr. member

Activity: 812

Merit: 317

Quote from: Nicolapetro on September 15, 2018, 03:34:38 PM

One of the most important criteria, as I believe, is the investment not with the help of Bitcoin, and the ability to invest in rubles or dollars in a real account.

then what relation do such investments have to the crypto currency, if it is a question of dollars and rubles? This fraud is aimed at making real money, not crypto currency.

Nicolapetro

newbie

Activity: 17

Merit: 0

One of the most important criteria, as I believe, is the investment not with the help of Bitcoin, and the ability to invest in rubles or dollars in a real account.

ProstoCrypta

newbie

Activity: 55

Merit: 0

I think that we cannot be 100 percent sure of that. However, you can study the history of the company, read reviews, study the biography of its owners. In General, to dig as deep as possible.

joshsmith15

newbie

Activity: 65

Merit: 0

No way of knowing for sure. A lot of them are struggling to reach their softcap lately just as the market is so low in general. Some are easy to spot as complete trash though.

Grim149x

full member

Activity: 854

Merit: 100

I believe it's hard to detect potential fail projects but easier to detect scam ICO's. I usually check on the team of the project's qualifications and see if they are ambitious enough with a realistic goal. Also read the one page whitepaper.

Gunslinger-SA

newbie

Activity: 7

Merit: 0

I agree with most of the posts above, but also, you need to look at whether the company can actually make money however good the project is. How far away is the company from actually being able to generate real-world revenue in $ or crypto? This is the sign that the token value will increase after ICO.

korg1960

newbie

Activity: 24

Merit: 0

First of all, you need to check the reliability of the ICO project. The project should be realistic and have a clear budget plan; check whether the project has circumstances under which the obligations to the holders may not be fulfilled and whether the actions with risks are considered; tax obligations should be clearly defined; the availability of a license to carry out financial activities. If these points are met, then, in my opinion, the project can be considered reliable.

_cryptoniya_

jr. member

Activity: 65

Merit: 1

W12 – Blockchain protocol

There are a number to recognize the "reality"of the project. One of the most understandable are:
- inexperienced or anonymous developers
- not enough information on the project website
For more information, it is necessary to study the Internet.

Dblue

newbie

Activity: 130

Merit: 0

I like to think that before anyone invests in a project, they read the whitepaper, check out the team members behind the project and also look out for reviews of the project on the different social media platforms. By doing this, you should be able to determine to an extent, whether the project is a scam or a good one.

freshbcash

jr. member

Activity: 68

Merit: 1

100% guarantee no one will give you. But, look who is launching the project, what projects they had before, how profitable they are, what team is working in what country.

SooEz4Me

member

Activity: 476

Merit: 19

Professional Designer & Manager | PM ME

Its not easy detect scam or not scam ico, but I can help with this criteria, just analyze project:
-Team
Experience and Trusted: visit their linkedins and search their names in internet. Also analyze Advisors
-Whitepaper
Read whitepaper, research it, you can see in whitepaper a lot of to say invest or no
-Media
Look at social networks, follow the project, good team will be update your social networks
-Check GitHub
Just check code of the project, maybe there are a lot of errors
-Read other info:
Roadmap (good roadmap - 5 year)
Token Distribution
Use of Proceeds
Website
Video
Privacy Policy
And other, of course its not full list, good luck!

leoni_lach

newbie

Activity: 44

Merit: 0

Nohow. You just have to trust the professionals. If this project is trusted by the big players of this market, then why not just trust us.

b_economic_d

copper member

Activity: 103

Merit: 1

You need to watch out z team,to study the white papers to monitor the amount of sold tokens, transparently vzaimodeystvovat with investors.

Topic: How to detect Scam ICO/ potential fail projects - page 2. (Read 480 times)