I have not connect personally scam sice now but i hear ICO scam so many time. If we study or research, whitepaper and roadmap about the ICO or company as well as the team work, we can recognize the scam.
Topic: How to recognize scam - page 3. (Read 3159 times)
Yeahh , you are right i think.. Plus, they will set unlogical hardcap or total supply of coin compares to their ICO price. And the roadmap just unclear to be understood, the teams are anonymous and can't be track down. Dev and admin usually not open to public, and finally maybe we can find out about their projects rating on some ICO reviewing site
ridiculous hard cap doesn't necessarily mean the project is scam, they might just be hungry. That is very normal even with genuine projects. Anonymous teams for ICO projects are a huge red flag though
You are absolutely right. Most times, if i do not have any first hand information about the team of an ICO, i always research on the product to ensure that it is genuine. The product must be readymade and marketable. That it, it must be a product that can earn money for the continuity of the project. Adoption of product is very important.
The whole point of a ico is to make money if the project has alot of promise it could all well be a good idea. If the founders won't talk answer questions then that has to raise doubts.
No matter how much you look, it's hard to understand if you're not experienced. Web site and white paper will give you a hint
A founder or team member can know the products in and out but if their intention is to scam nothing can be done to prevent that. I only give my support to an ICO that has a product or service in the market for at least the last two years, with an established office and good team management.
Interesting idea but I think CEO or founder doesnt have too much time for everyone who wants to get some information. There is support but most of them dont know everything about the project. So everything should be in Whitepaper.
Well it is better to invest in a company/project that already has a function or working product. Most of the ICO got only a nice whitepaper and idea. Search also about the persons in the team and discuss it in the Bitcointalk forum.
well , it is not easy to manage the scam because most of all scammers are professional in doing salestalk. they do all the good words just to scam people. and one of the way to avoid the scam is to not trust at all about your buyer/seller. do some research because not small amount are in . but big amount of money are involved in this. so make survey and research. this is the best way to do.
Well it is better to invest in a company/project that already has a function or working product. Most of the ICO got only a nice whitepaper and idea. Search also about the persons in the team and discuss it in the Bitcointalk forum.
Pay more attention to the conditions. As a beginner, it was difficult for me to recognize what was not yet what the results were. Closed projects often that were chosen at random
My system to know whether a specific thing is a trick is I generally request a testament , an authorized or a proof of authenticity since they will misdirect you to draw in and loan a cash with the most pleasant words and bother you for their organization. However, the best thing to know whether a thing is a trick is you comprehend what to have when they are putting forth, the most grounded weapon for trick is a profound learning.
It's hard to tell whether it's a scam. If it wants to lie to you, can it make you see it? Can that be a scam? I have done a lot of tasks, some have not yet finished the title, and some did not offer rewards, these are generally short-term projects, so I usually do not choose this kind of.
When I see an ico that is interesting, regarding on its good website details, their big bonuses, still it didn't convince me to do an investment if I didn't see their working product. It is very important that you can see their working product in order for your investment to be secured and has a good future. Do your deepest research before making big investments.
Sometimes everything works well according to the procedures we have done, but the way they do the information is sometimes well done and it seems that everything is very convincing, but at the end of the ICO it is all changed, because of many causes, but the best to know if a thing is a trick is depends on us understanding what to do when they filed, the most basic weapon for the trick is deep learning.
Yeahh , you are right i think.. Plus, they will set unlogical hardcap or total supply of coin compares to their ICO price. And the roadmap just unclear to be understood, the teams are anonymous and can't be track down. Dev and admin usually not open to public, and finally maybe we can find out about their projects rating on some ICO reviewing site
The scam project is not always detectable in the first place. The team will close tightly and move very beautiful like a real project. However, their encounter in covering up his scam project will surely come to light as well. It can be seen from his team whose performance is slow in providing the latest information, does not provide responses and updates on spreadsheets and threads. Once the product has been successfully sold by its buyers, gradually, one by one they will leave the project and disappear from search.
usually a project that threatened the scam dev or moderator in the project can not be asked for more details and this I think often happens,
so beware of choosing a project!
so beware of choosing a project!
The scam is a program that is designed very neatly and made very similar to the original ICO. It is done so that fraudsters are easier in attracting the interest of the contributors to allocate his money into his. So it will be very difficult for investors and participants to avoid it. Perhaps the focus in ICO elections today, not just a scam or not. But also the performance of his team. The team that has brought ICO to its target achievement will be a fugitive for participants and investors.
Here are some common features to look out for:
Guarantees of high profit/interest rates
Referral/affiliate schemes
Ambiguous details on how it actually works
Minimal to no information on founding team or company
Difficulty in withdrawal of funds
Guarantees of high profit/interest rates
Referral/affiliate schemes
Ambiguous details on how it actually works
Minimal to no information on founding team or company
Difficulty in withdrawal of funds
Normally, experiences will teach people how to recognize scam quickly. I remember when I warned someone about the scam that he joined, he mocked me and insult and did not care about what I said and I also remember that I was like him when I was still new and joining scam investments. I'm defending the scam company because I don't know if the accusation is really true and that experience taught me to recognize scams easily.
but still, it's too difficult to recognize a scam projects because they are really clever to give some good rewards for the bounty and for the investor. but I agree with you that with the experiences that we have, we have a guide or information about how to recognize a scam projects especially if the team is not a solid team. there are too many projects in out there and one or more can be a scam project so we need to know which the projects that potential to scam people.
Jump to: