How to find scam coins - page 5. | Bitcointalksearch.org

AliMan

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Quote from: Vitamin_52 on September 30, 2019, 03:17:59 AM

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

This has been taking badly from previous years, and now it's hindering lot of investors who avoided themselves in getting into crypto. Scammers will only be detected once the project was launced, sadly the ICO token listed has no definite trading value.

DonInvestor

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Quote from: masulum on September 30, 2019, 03:43:25 AM

I want to add more and took points from your article

1. Know the team behind the coin
How to find team behind ICO? there is lot of tools we can se for image reserve. I mostly using few tools like google images and yandex images.

2. Read the whitepaper
Sometimes project has good white paper, but behind of good whitepaper they have, it from plagiarized WP. so, kindly check using plagiarism tools when you reading WP.

3. Look for unrealistic crypto claims
Correct, if someone saying if they can give 200% - 300% within a day or months of profits, it will 99.9999% ponzi or potentially scam, please wake up, no one can be rich overnight. Please, don't be fooled because you want higher profits. Even IEO will become a scam, so be careful.

4. Not being open-sourced
I don't know open source if really matter or not, because many projects open their codes for public, but sometimes I still find a project hiding their malicious program. Maybe for open source we need to check how many people join to audit. If there is any project with github account, but no one join, be careful, please scan file after download before you are installing it.

Btw, you are making good articles. keep it up

I definitely agree with above points and i would add some annotations from my point of view:

5. Look on the website project
It could seem pointless, but many of scam coins had or have impressive homepage of websites with many animation, beautiful color etc. Human mind associates beauty with some reliable stuffs, so beautiful website = reliable project. Keep in mind that it is psychological effect.

6. Have a look how much money organizers want to collect
If you spot that goal of funding is extremely huge so do you think that developers will working hard? Why they should do that? Them bank accounts are fully from bucks ICO or IEO and implementation of roadmap is so hard.

7. Campaign marketing
This point is partially compatible with point 5. During ICO many scam projects have perfect marketing. I mean twitters per hour, post on facebook fanpage 20 per day, professional session and presentation video on the youtube. Be aware that projects during ICO are totally unrealistic. It are only ideas not real products.

By the way article is good and i have to commend of the author for hard working. Keep going!

atjiat

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I see that this task is very difficult and it is very difficult to determine the fraud or futility of the project. For all the time I participated in the Bounty companies in past years, my coins did not show a good result. Of course there are such coins that I sold, but most of all I left for long-term storage, in the hope of making a good profit. To date, these coins have no price at all. Based on this, I believe that I will do it right if I get rid of all the coins, and I will buy the highest-rated cryptocurrencies, especially Bitcoin and Ethereum, whose prospects are known not only to me, but to all cryptocurrency users.

terencio

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Many unscrupulous individuals try to take advantage the popularity of crypto, and created a coins that is very attractive to gullible or naive investors. If you are an investors avoid a coins that makes a high promises and too good to be true.

Denlon

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Hello! Thanks for information! Its good help me to search no scam coins. Really on world >80% its scam coins, tokens and projects.

altscaner

member

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the simplest way is to check directly with their team because project scams usually always fake it and in my opinion because of this they do a lot of senior members who can track the awkwardness about their profile and usually senior members will make a report on the scam accusations in this forum and I'm usually a little rely on information from them, and if they don't do it I do my own research even though I'm not sure what I'm doing.

enhu

legendary

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They forgot to mention plagiarize contents of the webpage and whitepaper can be one reason for it being a scam. The scam accusation threads in the forum is a very rich section where to find scam projects. You don't even have to investigate yourself though its recommended. The end of ICO did make the screening for investors to see which is which.

nomenclatur

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Quote from: ppblockchain on September 30, 2019, 02:19:09 AM

There are many many dozens of cryptos launching each and every month, and side by side that there are many new tokens come out of a series of Initial Coin Offering or ICOs. The desire among a wide pool of people who invest for these kinds of opportunities has grown so much, even despite the fact that cryptos have been shabby in 2018.

All of these elements unite to attract scammers. In the end, if investors have shown that they have the will to throw dollars toward a highly hypothetical crypto, they seem to invest in a crypto that might be fraudulent ICOs or tokens.

Read more : https://paperblockchain.com/how-to-find-scam-coins/

2018 is very bleak for ico. scammer ico of everywhere even ico from 2018 until now is still running ico they are expecting a lot of money for projects ico them while they only deceive investors to earn a lot of money in 2018 hundred ico has committed fraud, took the money of investors I joined the lines of the telegram they now do not have the information and ignored.

Ailmand

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Quote from: ppblockchain on September 30, 2019, 02:19:09 AM

There are many many dozens of cryptos launching each and every month, and side by side that there are many new tokens come out of a series of Initial Coin Offering or ICOs. The desire among a wide pool of people who invest for these kinds of opportunities has grown so much, even despite the fact that cryptos have been shabby in 2018.

All of these elements unite to attract scammers. In the end, if investors have shown that they have the will to throw dollars toward a highly hypothetical crypto, they seem to invest in a crypto that might be fraudulent ICOs or tokens.

Read more : https://paperblockchain.com/how-to-find-scam-coins/

Developers are good at conceiling their real intent when conducting ICO that is why investors nowadays are skeptical in joining ICOs. Most people are waiting for coins to be listed due to this. A lot of legit ICOs are being affected to it, that is why a lot failed and IEO is born.

confreslamp

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There are plenty of helpful articles on the web, but what should an investor do if projects seems legit and even has an illusion of working product (everybody can use photoshop or write a script)? I would take part in IEOs on big exchanges to avoid scams.

Dread Pirate Roberts

sr. member

Activity: 1484

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Many identification and characteristics of scam coin. what concerns me when I see a new coin is. the purpose of the project. the developer team. and the progress that has been made is appropriate and real with what is happening. but it all returned to the vision and mission of the coin itself. if it is not clear and managed not seriously it will definitely end up being a garbage coin. and make investors think they are victims of failed projects and get feels like get scammed or think maybe it's really a scam coin.
.

bgaf

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It's not actually difficult if they have time to do the necessary diligence to search some projects. But since IEO have been launching since then, there we less the procedure to do some processing. More people are tend to it than the usual ICO now. With regards, to campaign, many hunters are blindly promoting many scam projects and this is inevitable since they are just keep on joining without any due diligence.

pundit

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Unfortunately there is not any way to recognize scam ICOs. Every investor joins ICO after research with the hope of appreciation of his/her investment but not every ICO succeeds. As stated by one Sr member in his post, he invested money with a renowned project which could not launch their product and refunded investor's money whereas other new project in which he invested money is surviving. We can only do our best research to find a good ICO but it is difficult to analyze its future in any way.

Alluro

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The scammers are updating day by day. Because they are finding new ways to scam users. Then we have the knowledge to understand them. The researches are important thing to understand about scams.

ned.ryerson

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Quote from: HatakeKakashi on September 30, 2019, 06:19:36 AM

Quote from: Vitamin_52 on September 30, 2019, 03:17:59 AM

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

Scammer are really smart to hide their real puporse. Good to see that you transfer now to IEO now because big chance for your money will grow than the ICO who among of them are failed or it is scam or the hardest part you will wait for nothinf because they did not list the coin and the investors given the hope . IEO now is the alternative way and ICO is not good anymore it can cause only your money to gone.

I see that now even those projects that conduct IEO are becoming unprofitable and it seems to me that this format simply stop to be relevant

NathanJB

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Quote from: DaMut on September 30, 2019, 05:34:06 AM

Quote from: NathanJB on September 30, 2019, 03:45:05 AM

Crush out luck. This is not some kind of lottery or gambling. Cryptocurrency is full of scams but that does not mean that there are no good ones. However, it will not be coming for you. You will search for them. It is hard but there is no other way. It takes a lot of hard work to find the gem among a mountain of stones. You will need to carefully read the whitepaper, study them even. Aside from that, you will need to do a little investigation of the persons that make up the development team. Do not just take their website profiles as truth. Many of them are using fake pictures, bogus names, made-up experiences, etc. You need to search for them one by one. You also need to contact them with your questions and doubts about their project. These are just some of the necessary steps to do before safely investing in an ICO.

Indeed this is not kind of gamble, but that was the truth. I have been doing research about some ICOs before, all of them were real. With real people, real company.
I have invested in some kind of trading bot based company, they have their experts and license. 3 months after the ICO concluded, they closed their company and refund the money because they were not able to develop it because of lack of demand and problem with their partnership. On the other hand, I invested in an unknown project and survived until now.
The first one is a quite reputable company while the other one is just so-so but survive. If it is not luck then what?

In the first case, you are not lucky. You made your research and ended up with a legit project. It so happened that you failed to gauge its potential to succeed or not. But since you invested in a legit project, instead of becoming a victim and bitterly complain of an exit scam or developers suddenly vanishing into thin air without warning, you ended up receiving a refund.

In the second case, it does not mean that since it is unknown to you, it will not succeed. Or perhaps it is only your own research that tells you it is unknown. To their partners, other investors, supporters, and start up scouts, the project might be showing a lot of potential.

In both cases, luck was never the key.

MariLYK

newbie

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good article! Thanks! IEO - not scam 90%

HatakeKakashi

hero member

Activity: 1274

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Quote from: Vitamin_52 on September 30, 2019, 03:17:59 AM

it is difficult to recognize scammers, in 2019 I came across 3 such projects in which I invested. completely disappointed in the ICO. now I take part only in the IEO they have more confidence as the participation is on the stock exchange.

Scammer are really smart to hide their real puporse. Good to see that you transfer now to IEO now because big chance for your money will grow than the ICO who among of them are failed or it is scam or the hardest part you will wait for nothinf because they did not list the coin and the investors given the hope . IEO now is the alternative way and ICO is not good anymore it can cause only your money to gone.

brightemo

jr. member

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Good variant to avoid scam - use trustworthy IEO

DaMut

sr. member

Activity: 1246

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Quote from: NathanJB on September 30, 2019, 03:45:05 AM

Crush out luck. This is not some kind of lottery or gambling. Cryptocurrency is full of scams but that does not mean that there are no good ones. However, it will not be coming for you. You will search for them. It is hard but there is no other way. It takes a lot of hard work to find the gem among a mountain of stones. You will need to carefully read the whitepaper, study them even. Aside from that, you will need to do a little investigation of the persons that make up the development team. Do not just take their website profiles as truth. Many of them are using fake pictures, bogus names, made-up experiences, etc. You need to search for them one by one. You also need to contact them with your questions and doubts about their project. These are just some of the necessary steps to do before safely investing in an ICO.

Indeed this is not kind of gamble, but that was the truth. I have been doing research about some ICOs before, all of them were real. With real people, real company.
I have invested in some kind of trading bot based company, they have their experts and license. 3 months after the ICO concluded, they closed their company and refund the money because they were not able to develop it because of lack of demand and problem with their partnership. On the other hand, I invested in an unknown project and survived until now.
The first one is a quite reputable company while the other one is just so-so but survive. If it is not luck then what?

Topic: How to find scam coins - page 5. (Read 902 times)