Topic: How to recognize scam - page 16. (Read 3159 times)
We can without much of a stretch check whether the task is a trick if its pipe dream, read deliberately every little thing about it before you contribute. This is the hazard we are discussing on this sort of market uniquely whenever you trying to connecting with any ICO's. Be that as it may, on the off chance that you truly accept on the particular task go contribute on it. Continuously feel that if its high hazard it can gives higher benefit obviously contribute just what you can stand to free.
it is quite difficult to guess an ICO about its authenticity as they usually tend to be very promising in offering a project to be developed so of course we have to be very careful in making an investment on a project being developed by ICO. my advice is before you make an investment that you will do on a project you should first do a detailed study of the project being developed. suppose you have to find out about the team developing the project. also many other research studies that you should do.
You are given all details of being scam, i strongly agreed with you statement of being scammed.
All signs you have given are all informative to people here in forum and now we must aware of being scam.
Yes, investing in ICO's project now is very risky first we need to check first everything as what they have the roa-map and whitepaper these are the primary to check and determined which project are good to invest. To avoid scam it is your responsibility to spend time in researching the project.
Thanks mate for your wonderful statement i have learned a lot this.
All signs you have given are all informative to people here in forum and now we must aware of being scam.
Yes, investing in ICO's project now is very risky first we need to check first everything as what they have the roa-map and whitepaper these are the primary to check and determined which project are good to invest. To avoid scam it is your responsibility to spend time in researching the project.
Thanks mate for your wonderful statement i have learned a lot this.
Spotting a scam project is an impossible thing right now, 90% projects don't show up their real team development and the owner behind . All projects are similar like the others and their solution don't help much for real-life problems.
A project scam often has individuals who have scammed and if learn carefully can you realising it. These projects often do not have clear roadmap roadmap and they often copy from other projects. The technical platform of the project scam often wrong and if you have the knowledge about the technology that projects often fails. There is a number of ways that I use to learn about the project scam in this time.And they will tell you everything that is really good and seems impossible but possible for them. They will give you freebies and a lot of coins. And likewise promises you to have a very high interest when you invested on them. Also as you said there is no clear roadmap of their project.
Very large for the size number of tokens- why have 100's or 1000's of millions of tokens?
I think the number of released tokens plays a far from significant role in deciding whether to skam it or not. so I think we should look at the team in the first ochedyed. Then is there a product and social profiles of the founders. there are so many such scammy project in bitcointalk. some just disappear from the radar after a while. maybe there should be some sort of warning about such projects in bitcointalk.
yes, I agree with you, in this forum many scam projects that can harm all parties. I think one way to reduce or eliminate a scam project is to filter for each project to be promoted in the forum. anda i think its a good solution.
This is a very good list. For new investments And this information can be found easily on the web. You can only create a structure for it. I can add something about marketing. Avoid the process, which makes pre-ico. How to buy pre-ico for 2 reasons: sell LOTS of tokens to invest or raise funds for a massive marketing campaign. Both options are not very good for private investors, especially the main ones. Because of these findings I will take the token price within minutes after going to the stock exchange.
Spotting a scam project is an impossible thing right now, 90% projects don't show up their real team development and the owner behind . All projects are similar like the others and their solution don't help much for real-life problems.
A project scam often has individuals who have scammed and if learn carefully can you realising it. These projects often do not have clear roadmap roadmap and they often copy from other projects. The technical platform of the project scam often wrong and if you have the knowledge about the technology that projects often fails. There is a number of ways that I use to learn about the project scam in this time.
There is always a a doubtful provided by a scam ico like inactive telegram, lack of person involvement which is designated in a task needed and also unverifiable given information, and a project which is like hitting the air I mean a project which is far from reality.
Hello everyone!
Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.
So I decided to make a list of scam signs: (and this is just my own opinion)
- A founder and a team are not open.
Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.
In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.
- Spending a lot of money on marketing isn't always show professionalism.
Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too
- You know nothing about a founder. And you cant find any information about him/her.
Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.
- They don't have a readymade product.
Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.
And what do you think about it? What are your signs of a scam?
Thank you, this is a great list for our lessons, too many scams in this Bitcointalk forum, they appear and then disappear from the radar in a few moments, we need to be more careful and survey the project or ICO we will follow. But it must be remembered that not all projects or ICOs are frauds. Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.
So I decided to make a list of scam signs: (and this is just my own opinion)
- A founder and a team are not open.
Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.
In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.
- Spending a lot of money on marketing isn't always show professionalism.
Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too
- You know nothing about a founder. And you cant find any information about him/her.
Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.
- They don't have a readymade product.
Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.
And what do you think about it? What are your signs of a scam?
In first place its hard to recognize the scammers here in bitcoin community which you need enough information or evidence in order to distinguished. Well, on my part as being a newbie I will ask to those experts here and gather some tips and informations to avoid being scammed. Hoping also I'm may not be scammed since I'm just new here in cryroto world. 
Add this one too if you are an avid fan of joining signature campaigns:
"When the reward for each participant of the campaign is too good to be true."
Pretty self-explanatory. If the campaign manager is offering an unreasonable high amount of btc or even alt coins for participating the signature campaign, it's probably fishy. The campaign manager must have at least explained in their bounty how the reward system works.
"When the reward for each participant of the campaign is too good to be true."
Pretty self-explanatory. If the campaign manager is offering an unreasonable high amount of btc or even alt coins for participating the signature campaign, it's probably fishy. The campaign manager must have at least explained in their bounty how the reward system works.
I think this one is one of a good reason to be suspicious in that campaigns. As I witnessed, several campaigns already with very big promises vanishes with the money being invested. Also, if the person behind the project is controversial and anonymous. Also, if they cant come out with a good website design LOL
My red flags are as follows:
Site is very glossy and slick but has numerous spelling and grammar errors, now I know that English is not everyone's first language but it shows a lack off attention to detail (I had a company website in English and Chinese it was checked by a native chinese speaker for accuracy before we published it).
No photo's and checkable details on the founders and senior team.
Very large for the size number of tokens- why have 100's or 1000's of millions of tokens if you only need to raise a finite amount of cash? Will the rest be burnt? It is like a new start company having an authorised share capital of tens of millions of £/$ etc and only issuing a few hundred.
Site is very glossy and slick but has numerous spelling and grammar errors, now I know that English is not everyone's first language but it shows a lack off attention to detail (I had a company website in English and Chinese it was checked by a native chinese speaker for accuracy before we published it).
No photo's and checkable details on the founders and senior team.
Very large for the size number of tokens- why have 100's or 1000's of millions of tokens if you only need to raise a finite amount of cash? Will the rest be burnt? It is like a new start company having an authorised share capital of tens of millions of £/$ etc and only issuing a few hundred.
Spotting a scam project is an impossible thing right now, 90% projects don't show up their real team development and the owner behind . All projects are similar like the others and their solution don't help much for real-life problems.
Add this one too if you are an avid fan of joining signature campaigns:
"When the reward for each participant of the campaign is too good to be true."
Pretty self-explanatory. If the campaign manager is offering an unreasonable high amount of btc or even alt coins for participating the signature campaign, it's probably fishy. The campaign manager must have at least explained in their bounty how the reward system works.
"When the reward for each participant of the campaign is too good to be true."
Pretty self-explanatory. If the campaign manager is offering an unreasonable high amount of btc or even alt coins for participating the signature campaign, it's probably fishy. The campaign manager must have at least explained in their bounty how the reward system works.
A lot of porjects have no team members photo's. It is fishy right? No whitepaper, but already in the ICO token sale. Red flag. Are there more issues I have to really look out for when I look into an ICO?? 
Absolutely true
Also you should find advisors, contact the team and ask a lot of questions
What is more you could try to find some information about a team in google
Yeah, it is alway an issue when choosing the right company to invest in. Even though there are many companies with good team but it is kinda hard to find smth with good advisors who are engaged in the process. Do somebody know any ones ?
KickCity
Do u have any links? Where may get more info about it? Any other examples?
yeah, sure
please visit website https://ico.kickcity.io
and telegram chat https://t.me/kickcity_chat
A lot of porjects have no team members photo's. It is fishy right? No whitepaper, but already in the ICO token sale. Red flag. Are there more issues I have to really look out for when I look into an ICO??
Absolutely true
Also you should find advisors, contact the team and ask a lot of questions
What is more you could try to find some information about a team in google
Yeah, it is alway an issue when choosing the right company to invest in. Even though there are many companies with good team but it is kinda hard to find smth with good advisors who are engaged in the process. Do somebody know any ones ?
KickCity
Do u have any links? Where may get more info about it? Any other examples?
Thats good opinion, i still learning how to figured out th project scam or not
Im afraid that the project that i do was scam its been a long time i do that
If that was scam that should be dissapointed to me but i take it as a lesson so i dont get into the same hole
Im afraid that the project that i do was scam its been a long time i do that
If that was scam that should be dissapointed to me but i take it as a lesson so i dont get into the same hole
A lot of porjects have no team members photo's. It is fishy right? No whitepaper, but already in the ICO token sale. Red flag. Are there more issues I have to really look out for when I look into an ICO??
Absolutely true
Also you should find advisors, contact the team and ask a lot of questions
What is more you could try to find some information about a team in google
Yeah, it is alway an issue when choosing the right company to invest in. Even though there are many companies with good team but it is kinda hard to find smth with good advisors who are engaged in the process. Do somebody know any ones ?
KickCity
A lot of porjects have no team members photo's. It is fishy right? No whitepaper, but already in the ICO token sale. Red flag. Are there more issues I have to really look out for when I look into an ICO??
Absolutely true
Also you should find advisors, contact the team and ask a lot of questions
What is more you could try to find some information about a team in google
Yeah, it is alway an issue when choosing the right company to invest in. Even though there are many companies with good team but it is kinda hard to find smth with good advisors who are engaged in the process. Do somebody know any ones ?
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