Topic: How to stay away from scam coins (?) - page 2. (Read 1657 times)
You could use an old computer exclusively to install wallets onto, and never let a wallet near your newest computer that you use for everything else.
This is a question to all of you. Please share your suggestions, feeling, thoughts, etc.
I must say that there is many alt coins around
as you can see ...
Some say it is very bad, some say it is good, some say it is good and bad (like me).
Thing is - at the moment new coins will be created and no one can stop this as this is impossible to stop.
It might stop by it's own. When all of the altcoins will lose the value then perhaps not many new coins will be created as people will be aware of investing their money and time and fail but at the moment we have many new and old altcoins and people have to deal with it.
Some of us will never buy/get any altcoins as they want Bitcoin only - I respect that thinking.
But I think some of the altcoins are interesting and they gain great community and also great devs have a chance to became more famous and skilled.
Thing is many altcoins are scam coins.
How to be aware of not investing your founds into some scam coin or how to make sure that "wallet" is not a keylogger and other shi* in a same time when it pretend to be a wallet.
Also problem of devs dumping millions of premined coins ...
And also perhaps some other problems like bugs in the code...
Some altcoins are made from a "Create an altcoin for 1$!" and people get a code and after the bug is spotted they don't know how to fix and coin is dying.
There are few other issues perhaps which I didn't mentioned - because I forgot perhaps
So what is your way of checking the coin?
I am thinking about my methods and I am using different methods for different coins...
But you never know for 100% what will happen and this is a big problem :]
Let spot some methods:
1. Never install a wallet without an open source code - wait for the source and check it on your own or let others check it
Yes this is very very important! But this isn't a security for your founds yet at all ...
so what other points?
2. Stay away from premined coins.
Well ... maybe but we might be able say Bitcoin was ~premined too
hehe... oh so many people will kill me now for saying that. But Satoshi own many wallets with 50BTC in and that's great! He should get x10000 more in my opinion! I hope he will be the reachest man in the world!
Some altcoin makers are not wealthy - they have an idea for their coin, they need some premine to share with community, advertise the coin etc.
Is it good, is it bad ... It is good IF premined coins will be not dumped and will be shared with community and spent on development and others important for the coin things... but you never know what devs will do so how to check them? You can talk with them ... I am trying to do that always before I get in.
3. Wait a month or so ... and if no problems will be spotted by the community - then join!
Well ... but other members might get scammed ... and you will be happy, because you were waiting to see that? We need to think about the way to stop this before it happens
4. Never install any wallet, just buy coins @ exchange and keep it there ...
Very bad idea. a)online exchange is a bad wallet b)some coins are PoS ... it would be nice to stake some coins, this is all about PoS ...
5. Stay away from all of the altcoins and only in Bitcoin we trust!
Well ... why to not give a chance ... perhaps one day there will be an altcoin which will be better than Bitcoin! And Bitcoin will learn from this altcoin how to became better and stronger
6.
Very good ideas - it will secure our personal important data.
But we still need to figure out how to find a coin - which is a good coin
7. Any ideas ?
I must say that there is many alt coins around
as you can see ...Some say it is very bad, some say it is good, some say it is good and bad (like me).
Thing is - at the moment new coins will be created and no one can stop this as this is impossible to stop.
It might stop by it's own. When all of the altcoins will lose the value then perhaps not many new coins will be created as people will be aware of investing their money and time and fail
but at the moment we have many new and old altcoins and people have to deal with it.Some of us will never buy/get any altcoins as they want Bitcoin only - I respect that thinking.
But I think some of the altcoins are interesting and they gain great community and also great devs have a chance to became more famous and skilled.
Thing is many altcoins are scam coins.
How to be aware of not investing your founds into some scam coin or how to make sure that "wallet" is not a keylogger and other shi* in a same time when it pretend to be a wallet.
Also problem of devs dumping millions of premined coins ...
And also perhaps some other problems like bugs in the code...
Some altcoins are made from a "Create an altcoin for 1$!" and people get a code and after the bug is spotted they don't know how to fix and coin is dying.
There are few other issues perhaps which I didn't mentioned - because I forgot perhaps
So what is your way of checking the coin?
I am thinking about my methods and I am using different methods for different coins...
But you never know for 100% what will happen and this is a big problem :]
Let spot some methods:
1. Never install a wallet without an open source code - wait for the source and check it on your own or let others check it
Yes this is very very important! But this isn't a security for your founds yet at all ...
so what other points?
2. Stay away from premined coins.
Well ... maybe but we might be able say Bitcoin was ~premined too
hehe... oh so many people will kill me now for saying that. But Satoshi own many wallets with 50BTC in and that's great! He should get x10000 more in my opinion! I hope he will be the reachest man in the world! Some altcoin makers are not wealthy - they have an idea for their coin, they need some premine to share with community, advertise the coin etc.
Is it good, is it bad ... It is good IF premined coins will be not dumped and will be shared with community and spent on development and others important for the coin things... but you never know what devs will do
so how to check them? You can talk with them ... I am trying to do that always before I get in. 3. Wait a month or so ... and if no problems will be spotted by the community - then join!
Well ... but other members might get scammed ... and you will be happy, because you were waiting to see that?
We need to think about the way to stop this before it happens 4. Never install any wallet, just buy coins @ exchange and keep it there ...
Very bad idea. a)online exchange is a bad wallet b)some coins are PoS ... it would be nice to stake some coins, this is all about PoS ...
5. Stay away from all of the altcoins and only in Bitcoin we trust!
Well ... why to not give a chance ... perhaps one day there will be an altcoin which will be better than Bitcoin! And Bitcoin will learn from this altcoin how to became better and stronger
6.
http://www.sandboxie.com/
I believe that's what I used around December when we had a lot of dodgy new coins popping up.
I believe that's what I used around December when we had a lot of dodgy new coins popping up.
You could use an old computer exclusively to install wallets onto, and never let a wallet near your newest computer that you use for everything else.
Very good ideas - it will secure our personal important data.
But we still need to figure out how to find a coin - which is a good coin
7. Any ideas ?
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