How to judge this is not a trustworthy team?

Darker45

legendary

Activity: 2576

Merit: 1860

Quote from: kqyyzmlc on January 15, 2018, 10:27:37 PM

There are so many coins now that there are always teams that are not serious about technology. They just want to collect a sum of money, how to judge this is not a trustworthy team?

First and foremost, check their whitepaper. Read about it and then assess whether what they are proposing is a great idea or not, and whether such a proposal could be translated into reality or not. If everything's pretty great, it does not mean that it is worth trusting already. Try to look at the team and their background. Read about their experiences and their previous accomplishments and whether they are in line with the project they are promoting. And then see to it that you reach out to them.

ongels

full member

Activity: 196

Merit: 100

In my practical point of view, usually when i apply signature ad, I always read the platform, the team and the most important the project coordinator,

boakyei

member

Activity: 358

Merit: 11

The first red flag I check is if all the team members are on linkedin with their profiles and connections visible. Second, try contact all the team members and questions them on the project ,if any fumble a bit to answer you correctly, then I begin to suspect is not a trustworthy team.

Sniar

sr. member

Activity: 560

Merit: 250

Quote from: CodyAlfaridzi on January 16, 2018, 03:25:52 AM

Well if all you got is a LinkedIn profile, that's bad. I mean, a real person with some background should have other notable hits on Google like a social media profile, GitHub, personal blog, a press hits etc. You need to know what were they doing with their life before these ICO things. I know that most people in an ICO team don't have that so pretty safe to assume the majority of that are fake.

Well your words make a sense. But it's extremely hard to find a skillful person which been mentioned in mass media etc. And yes, most of projects are fake and made for collecting money only. But sometimes an unknown specialists may create a brilliant ICO that might blow your ming and fly to the moon.

CodyAlfaridzi

hero member

Activity: 1708

Merit: 541

Quote from: D-Fault on January 16, 2018, 03:19:59 AM

Quote from: kqyyzmlc on January 15, 2018, 10:27:37 PM

There are so many coins now that there are always teams that are not serious about technology. They just want to collect a sum of money, how to judge this is not a trustworthy team?

Also some people tells me "check a team" but really how does it going, that "checking a team" process? I've tried a couple of times but the most I've got is LinkedIn profiles of the team members or their Facebook accounts. That is not reliable souces of information, I can write at my LinkedIn that I'm top professional who worked to Satoshi and who created Dogecoin, Waves and IOTA and start crafting scamcoins. What is the right way to check the team? Maybe some sort of a site?

Well if all you got is a LinkedIn profile, that's bad. I mean, a real person with some background should have other notable hits on Google like a social media profile, GitHub, personal blog, a press hits etc. You need to know what were they doing with their life before these ICO things. I know that most people in an ICO team don't have that so pretty safe to assume the majority of that are fake.

blockclick

newbie

Activity: 39

Merit: 0

Check team page on website and look at their attitude towards participants of their Telegram or Slack or Discord - good team will always find time to answer your questions and will monitor chats

D-Fault

member

Activity: 154

Merit: 10

Quote from: kqyyzmlc on January 15, 2018, 10:27:37 PM

There are so many coins now that there are always teams that are not serious about technology. They just want to collect a sum of money, how to judge this is not a trustworthy team?

Also some people tells me "check a team" but really how does it going, that "checking a team" process? I've tried a couple of times but the most I've got is LinkedIn profiles of the team members or their Facebook accounts. That is not reliable souces of information, I can write at my LinkedIn that I'm top professional who worked to Satoshi and who created Dogecoin, Waves and IOTA and start crafting scamcoins. What is the right way to check the team? Maybe some sort of a site?

KevenDabid

member

Activity: 196

Merit: 10

Most of the time, it's hard to tell if the project is worth investing, but we can judge from the level of open source code and the pace of code updates.

Alydora

newbie

Activity: 28

Merit: 0

On most ICO's/Alt coins they have a team page to all their LD information. Usually if there is a ICO and they don't even have that or if they don't even look professional, then I will just ignore it and move on to the next one. Hasn't done me harm yet.

Ayamj

full member

Activity: 350

Merit: 100

to me most of them are always very arrogant and doesnt answer messages even when people are asking questions and the also comes in once in a blue mon answer one question and disappear again

semobo

full member

Activity: 1498

Merit: 146

Quote from: kqyyzmlc on January 15, 2018, 10:27:37 PM

There are so many coins now that there are always teams that are not serious about technology. They just want to collect a sum of money, how to judge this is not a trustworthy team?

You can know about it by doing research about the project team if they don't have enough history then they maybe the scammers.But there are lots of new guys also creating good projects so we can't completely make a decision when some team don't have the history.So it is a little bit hard to know it is scam or legit that's why the ICO investment is called as risky.

johnyespapa

member

Activity: 257

Merit: 11

You have a lot to consider,the developer team must have good feedbacks,has successful projects previously if theres none i will think twice if i were you,
another thing the investors or partners,does the coin has existing product that can support the project?short to long term plans?roadmap must be clear and the supply should be distributed decently,whitepaper shouldnt be business-minded,founders also you need to consider their backgrounds.These are just the basic things you need to check before you get involve in an ICO.

prince05

member

Activity: 126

Merit: 21

Well we can't really tell if a team is a bunch of scumbags or a trustworthy team, that is why buying coins is always a high risk gamble. You may earn as much or loose as much. For me I just do some research on the team, their whitepaper, roadmaps, plans for the future. You should have a red flag checklist handy while doing the search. Ask as many people as you want before considering investing into new coins. If you can't get much info but still want to invest you can do so, if the coin is performing for the first few weeks which should always be the case since this people will really show you how good their coin is, do not be greedy just double your money, withdraw your capital plus a little profit and leave others behind to make some money in case it still performs, the key is you have taken back your capital and a little profit, which is a win-win situation for you, what ever happens to that coin in the future you are safe.

kqyyzmlc

member

Activity: 80

Merit: 10

There are so many coins now that there are always teams that are not serious about technology. They just want to collect a sum of money, how to judge this is not a trustworthy team?

Topic: How to judge this is not a trustworthy team? (Read 151 times)