Topic: I still can't believe these scams are supported (Read 223 times)
Most of the investors we have in the crypto world are just for the profit. The majority of the investors invest in only projects that looks to provide quick and huge profit. Many don't care about the product. That's why they're so many projects that playvto the tone of those investors. And this isn't healthy for this upcoming market. Investors have to care, at least, about what a project seek to solve. And its viability.
The reputable exchanges won't just list a project without further analysis and study. This is the reason why some projects can't really make it on better exchanges to list their token because of its lack of authenticity.
Well maybe, but not so, as far as I know exchanges has a certain requirements of coin to be listed on their platform, and then if it is then they will start talking about the price, if the team has it then there will a scheduled listing. It is not really on the team behind the project, this isn't a thing when it comes to a business like this that talks about million dollars for a transaction. Besides, there are still fee for maintaining the coin inside their exchange, so if they can't stand paying those then exchanges will have to delist them. My point is that, they care less for the team or project itself, it's all about the money. While the other exchanges, you are right. They will not care about its authenticity and also chase for the listing fee whether there is a volume or none after it's listed.
I think reputable or not they all go the same direction, coz they got nothing to lose coz it's not their fault for losing in the market. 
Looks like as soon as market has changed trend and bulls seem to be here and here for long, the same scammers from last bull cycle are yet again coming up with copy projects or totally fake projects just to raise funds in form of eth and btc because they know that even if they are able to raise small still it will become huge in few months when bull run will change to parabolic run. I do not know how these scammers do this again and again unless they are punished this thing cannot be stopped i guess.
The ICO pump and dump from 2017 showed that many people made huge amounts of money in exchange of worthless tokens that
..snip..
We can really count the ICOs that are successful and also survive until now. It is only few of them. Whereas, the project that could hit hardcap in their ICO and now it is dead. You are right about these three things and they always happen:..snip..
1. never hit an exchange
2. if they did they only lost value to never recover again.
3. never had any real value or usage.
1. They only promised about listing on exchanges (on the website, they will always target the big exchanges), but they will list noting, likely disappeared after successfully gaining funds during ICO (like scams but very smooth ways).2. if they did they only lost value to never recover again.
3. never had any real value or usage.
2. Most of them are like this. They have listed on certain exchanges, no control and also development from the team and developer, there is no trading volume again, the price goes down to earth, very dump, and then dead coin and the team has gone before it becomes dead coin.
3. Most of them really have very good ideas but they do not offer the real one. Many of them also have rather similar concepts of the projects, sometimes they are nonsense.
Are they really the real scammers with very soft techniques?
Well crypto attracts a lot of people, therefore everyday a bunch of newcomers join the scene who have 0 experience and knowledge.
Those people can easily tricked by a template website with shiny pictures and made up numbers.
Also: if you follow a few OTC channes in telegram you will notice how easy and relatively cheap it is to buy 1000 (fake) followers for your telegram channel.
Those people can easily tricked by a template website with shiny pictures and made up numbers.
Also: if you follow a few OTC channes in telegram you will notice how easy and relatively cheap it is to buy 1000 (fake) followers for your telegram channel.
Let it not surprise you but there are many of them around. I have not come across this one before though but from the post so far that's how worthless projects like it operates, that is, finding a good and attractive write-ups which of course will attract uninformed people into investing. Most projects have been around for years yet none has been able to reach top 10 then a project yet to know how the market works is claiming to reach top 5 within 2 years, to me that's a big proof that they are worthless. Nevertheless, people will still invest with the mindset of making quick gains, well in most cases it works for them and in most cases too, it doesn't. Lastly, projects like this are those that lists on bad exchanges as a start hence the team using it as a cover to dump the project.
So investing in ICO again, it's better to choose IEO, this is more promising will bring profits to investors
https://bitnovosti.com/2019/05/16/ieo-vs-ico/
"The main difference between ICO and IEO is the intermediary between the issuer and investors in the form of a cryptocurrency exchange."
Exchanges don't care about the authenticity and integrity of a project as long as the project pays for the listing fee. Being listed on an exchange, and also listed on Coinmarketcap gives the false sense of authenticity.
So what's the difference?
If you consider that the Originate Coin project is a scam, then collect all the necessary evidence and place it in Scam Accusations.
https://bitcointalk.org/index.php?board=83.0
P.S.
I didn't find any plagiarism in their white paper.
There's really nothing to plagiarize as nothing is related to a coin, project or even the idea of what is Originate. All it is is like an educational white paper of what blockchain and cryptocurrencies are.
Most people that invest in the crypto project want quick money and in the past when the hype was growing, it was very easy to make 5x of your capital when the token hit the market. I still remember about AION and other projects I participated in. Some of them even pump 10x of the ICO project. This is part of the reason why a lot of teams come up with substandard projects in order to make cool money from investors. If you gather 10 new projects that are being announced on ANN, hardly will you see anyone that is novel. Every project keeps exploring the already exploited areas all in the name of decentralization.
For some of the people that must have spent a lot of years taking part in a High yield investment program (HYIP), you would have known that a well-designed website, clearly written project plan, and highly active social media community members do not guarantee a safe project. The era of ICO is gone and IEO is fading away little by little, it is time for the project dev to shift also to Defi
For some of the people that must have spent a lot of years taking part in a High yield investment program (HYIP), you would have known that a well-designed website, clearly written project plan, and highly active social media community members do not guarantee a safe project. The era of ICO is gone and IEO is fading away little by little, it is time for the project dev to shift also to Defi
Alot of things have been wrong and its kind of correcting itself now about investment. nowadays people are wiser and do much research before investing into any project. i know how much research i need to do before i will be convinced to invest into any project. the sad thing is for people who still get scammed by following fake calls and fake project promotion. everyone needs to stand and take responsiblity.
So investing in ICO again, it's better to choose IEO, this is more promising will bring profits to investors
https://bitnovosti.com/2019/05/16/ieo-vs-ico/
"The main difference between ICO and IEO is the intermediary between the issuer and investors in the form of a cryptocurrency exchange."
I just don't know what people thinking, why they keep choosing ICO than IEO
So investing in ICO again, it's better to choose IEO, this is more promising will bring profits to investors
https://bitnovosti.com/2019/05/16/ieo-vs-ico/
"The main difference between ICO and IEO is the intermediary between the issuer and investors in the form of a cryptocurrency exchange."
Exchanges don't care about the authenticity and integrity of a project as long as the project pays for the listing fee. Being listed on an exchange, and also listed on Coinmarketcap gives the false sense of authenticity.
So what's the difference?
If you consider that the Originate Coin project is a scam, then collect all the necessary evidence and place it in Scam Accusations.
https://bitcointalk.org/index.php?board=83.0
This should be the right to do, if you find that they are faking their whitepaper or their theme papers or they run deceiving promotion then it can be posted in the scam section and let them address the issue there, this coin is bound to fail because it looks like just an average ICO that is useless on all it's features, I will be surprised if they attract investors we are over on this kind of projects.
So investing in ICO again, it's better to choose IEO, this is more promising will bring profits to investors
https://bitnovosti.com/2019/05/16/ieo-vs-ico/
"The main difference between ICO and IEO is the intermediary between the issuer and investors in the form of a cryptocurrency exchange."
Exchanges don't care about the authenticity and integrity of a project as long as the project pays for the listing fee. Being listed on an exchange, and also listed on Coinmarketcap gives the false sense of authenticity.
So what's the difference?
If you consider that the Originate Coin project is a scam, then collect all the necessary evidence and place it in Scam Accusations.
https://bitcointalk.org/index.php?board=83.0
P.S.
I didn't find any plagiarism in their white paper.
I had been screwed in an ICO as well before. They have their team published, good whitepaper but in the end, I didn't get my money back. They were listed in an exchange but the price was too low as to how much I bought it so I waited and waited until it becomes Untracked Listing in CMC. 
. I thought there's hope for me on that project, but nope. Their website is already down. So I guess, just accept the fact that there are really projects that are good at the surface but their real intentions are not sincere.
I think ICO has been dead for so long, but why you still choose to invest in ICO?? If you say "the fact that there are good project" i think that's wrong, they only give promises, but their desire to make it happen is nothing. So investing in ICO again, it's better to choose IEO, this is more promising will bring profits to investors . I thought there's hope for me on that project, but nope. Their website is already down. So I guess, just accept the fact that there are really projects that are good at the surface but their real intentions are not sincere.Most people would always fall for the hype, not the project itself. I've seen project backed by large and big personalities ended up 99% loss, cause most people care less about whats the project all about. I bought in last 2018 from an ICO ready the whole whitepaper they were seem legit and hardworking people, their idea was great, it took them 2 years to launch in an exchange worst part is, they change the tokenomics of their said utility token, ive been holding a bag of a reward token which I cant use.
Exactly as you said, some projects just have the mindset to move away with investors money. So many had shown a good sign of quality and promising, even listed in great exchange but dumped their ideas chasing after the money, could remember when some of the projects ideas were mining, but failed, the newest hype now are AI, DeFi, but in future all will eventually die off. 
You should, there are still people who are gullible and still support scam projects when obviously it is ICO is the best tool for these scammers and creating fake teams and copying whitepaper, they will eventually get caught many members are hunting these scam projects.
So I've seen many projects come and go and it's always incredible to see the amount of people that are fooled (including me in the past) by projects that are nothing more than a website template and a generic white paper.
The ICO pump and dump from 2017 showed that many people made huge amounts of money in exchange of worthless tokens that
1. never hit an exchange
2. if they did they only lost value to never recover again.
3. never had any real value or usage.
It also showed that people don't really care about the technology but rather, the profit potential, hype and speculation around a project.
You can still find many worthless projects like these, despite the bitter past investors had in the ICO bubble and some IEOs. DeFi is a recent hype that has so much potential and risks at the same time. Most likely a lot of new projects will promise around this concept without being able to deliver or build anything significantly.
However, those that do survive and remain competitive after the first year will be good candidates to keep an eye on. You are free to participate in DeFi ICOs or invest in current ones at your own risk, there's been recent volatility around some of these projects so is always good to be careful when to invest or open a trading position as volatility is a hot potato game and is never good to hold the potato when the music ends.
We always have to do our own extensive research and figure where value is and detect scams. Sometimes is difficult because the project might seem valid, genuine and worthy. But as time passes, some seem to stagnant, underperform and eventually end. Soon their tokens become souvenirs in our wallets and we are only left with the painful regret of investing in them.
There's multiple reasons why a crypto project/startup dies. Most of the time, the lack of adoption is what really kills a project. Even if you have a working product and a great tokenized economic model (monetary policy, deflation mechanism, interest rates, utility, etc.), supply and demand rules at the end and if there isn't enough demand for a product or service or token, the startup is doomed.
The reason I made this post though is because I recently stumbled upon a project that shocked me because of how worthless it is, yet people seem to support it and I really don't understand why.
The project is called Originate Coin maybe you guys have come across it on the bounty or announcement threads.
"A decentralized database network" is what they propose.
Their site is a classical ICO template anyone can setup relatively cheap and when you read the white paper there's absolutely NOTHING that describes the project value proposition in depth or heck even a tiny bit. It only talks about blockchain technology, Ethereum, cryptocurrencies and the ICO structure. Very general subjects, it almost feel like it could be useful educational content for cryptocurrency and blockchain beginners, but nothing really special about Originate. It doesn't describe the token's utility, the economic model, the actual purpose of creating the project. Nothing.
In spite of this, they are cynical enough to write this:
"...Originate Coin cryptocurrency intends to reach the fifth place in market capitalization over the next two years..."
There's even a fake Linkedin button for the team members that doesn't redirect you anywhere and there's no description about who these people are. There's only pictures, possibly not even of the people behind this scam.
The Twitter feed is full of hype around the price and trading activity that supposed to be real.
This is the perfect example of a worthless project but what surprised me is the amount of "support" they seem to have on social media. There's over 20k members on their Telegram, and over 13k Followers on Facebook and Twitter and also a plenty amount of participants in the bounty campaign. The token is also already listed on two exchanges and on Coinmarketcap!
This might seem like not a big deal is just another project that needs to be avoided. There's been far worse scams like BitConnect and OneCoin so Originate might not seem really relevant but it only shows how risky the space still is, specially for the newcomer naive investor.
Exchanges don't care about the authenticity and integrity of a project as long as the project pays for the listing fee. Being listed on an exchange, and also listed on Coinmarketcap gives the false sense of authenticity. Obviously it's fake considering there's barely any buy support on these exchanges and plenty of sell orders. But I'm disappointed that up to this day, cryptocurrency price trackers and ranking sites such a Coinmarketcap with a respected reputation that claim to strive for transparent metrics and provide better tools for the average investor, allow these type of projects to be listed on their site.
Scams will always be around as long as there are opportunities to exploit and take advantage of. It's always up to us to avoid these scams so is always better to play safe and only consider reputable projects to invest and deposit both your money and trust.
Feel free to comment what other ridiculous scams you have come across recently or in the past.
The ICO pump and dump from 2017 showed that many people made huge amounts of money in exchange of worthless tokens that
1. never hit an exchange
2. if they did they only lost value to never recover again.
3. never had any real value or usage.
It also showed that people don't really care about the technology but rather, the profit potential, hype and speculation around a project.
You can still find many worthless projects like these, despite the bitter past investors had in the ICO bubble and some IEOs. DeFi is a recent hype that has so much potential and risks at the same time. Most likely a lot of new projects will promise around this concept without being able to deliver or build anything significantly.
However, those that do survive and remain competitive after the first year will be good candidates to keep an eye on. You are free to participate in DeFi ICOs or invest in current ones at your own risk, there's been recent volatility around some of these projects so is always good to be careful when to invest or open a trading position as volatility is a hot potato game and is never good to hold the potato when the music ends.
We always have to do our own extensive research and figure where value is and detect scams. Sometimes is difficult because the project might seem valid, genuine and worthy. But as time passes, some seem to stagnant, underperform and eventually end. Soon their tokens become souvenirs in our wallets and we are only left with the painful regret of investing in them.
There's multiple reasons why a crypto project/startup dies. Most of the time, the lack of adoption is what really kills a project. Even if you have a working product and a great tokenized economic model (monetary policy, deflation mechanism, interest rates, utility, etc.), supply and demand rules at the end and if there isn't enough demand for a product or service or token, the startup is doomed.
The reason I made this post though is because I recently stumbled upon a project that shocked me because of how worthless it is, yet people seem to support it and I really don't understand why.
The project is called Originate Coin maybe you guys have come across it on the bounty or announcement threads.
"A decentralized database network" is what they propose.
Their site is a classical ICO template anyone can setup relatively cheap and when you read the white paper there's absolutely NOTHING that describes the project value proposition in depth or heck even a tiny bit. It only talks about blockchain technology, Ethereum, cryptocurrencies and the ICO structure. Very general subjects, it almost feel like it could be useful educational content for cryptocurrency and blockchain beginners, but nothing really special about Originate. It doesn't describe the token's utility, the economic model, the actual purpose of creating the project. Nothing.
In spite of this, they are cynical enough to write this:
"...Originate Coin cryptocurrency intends to reach the fifth place in market capitalization over the next two years..."
There's even a fake Linkedin button for the team members that doesn't redirect you anywhere and there's no description about who these people are. There's only pictures, possibly not even of the people behind this scam.
The Twitter feed is full of hype around the price and trading activity that supposed to be real.
This is the perfect example of a worthless project but what surprised me is the amount of "support" they seem to have on social media. There's over 20k members on their Telegram, and over 13k Followers on Facebook and Twitter and also a plenty amount of participants in the bounty campaign. The token is also already listed on two exchanges and on Coinmarketcap!
This might seem like not a big deal is just another project that needs to be avoided. There's been far worse scams like BitConnect and OneCoin so Originate might not seem really relevant but it only shows how risky the space still is, specially for the newcomer naive investor.
Exchanges don't care about the authenticity and integrity of a project as long as the project pays for the listing fee. Being listed on an exchange, and also listed on Coinmarketcap gives the false sense of authenticity. Obviously it's fake considering there's barely any buy support on these exchanges and plenty of sell orders. But I'm disappointed that up to this day, cryptocurrency price trackers and ranking sites such a Coinmarketcap with a respected reputation that claim to strive for transparent metrics and provide better tools for the average investor, allow these type of projects to be listed on their site.
Scams will always be around as long as there are opportunities to exploit and take advantage of. It's always up to us to avoid these scams so is always better to play safe and only consider reputable projects to invest and deposit both your money and trust.
Feel free to comment what other ridiculous scams you have come across recently or in the past.
80% of ICO & Airdrop website are now closed, that is a big clear clue proves how scammy was most of these ICOs ofc some were legit, had a real project, but back in 2017 the experience was limited, resources was limited, it was new fresh technology having a big jump in use led to huge number of investors and normal people to jump right away getting scammed easily with cheap attractive slogans
but tbh this is the same happens all the time, it was just a big number due to the crypto was the trend back then.
The website design is almost common and actually Ive seen the design somewhere else before. The details are only focus on the sales and the softcap and hardcap counter looks fake and not actually rated based on actual sales. Thats the problem with ICOs before the token sale page was never real and only a bluff to those investors and the one will fall will be rekt. The fund sale are not true and created only to boost the project hype. I will prefer an IEO over some untrusted newly created project.
Yeah, that's right. This type of projects are running by those scammers who already scammed previously with other projects. Just look into that project which is already listed in shit exchanges to just make users feel like the project is safe. Basically they use their previous scammed funds to list this new projects and again start to sell their tokens to collect funds. When they collect some funds, again they vanish without any notice. After some months, they again start new project and this cycle is going on and on.
Most people would always fall for the hype, not the project itself. I've seen project backed by large and big personalities ended up 99% loss, cause most people care less about whats the project all about. I bought in last 2018 from an ICO ready the whole whitepaper they were seem legit and hardworking people, their idea was great, it took them 2 years to launch in an exchange worst part is, they change the tokenomics of their said utility token, ive been holding a bag of a reward token which I cant use.
The website design is almost common and actually Ive seen the design somewhere else before. The details are only focus on the sales and the softcap and hardcap counter looks fake and not actually rated based on actual sales. Thats the problem with ICOs before the token sale page was never real and only a bluff to those investors and the one will fall will be rekt. The fund sale are not true and created only to boost the project hype. I will prefer an IEO over some untrusted newly created project.
that is one thing to look at. the stats shown on their website. in my experience, a lot of of them are manipulating the numbers, like the tokens sold or how much they raised. but if they want to be transparent, they will post the btc or eth address that is collecting the funds and you can see how much they really got..
but guess what? very rare you can find a project that will disclose their actual funds. people have been warned time and time again, so if they got rekt, thats their fault.
The website design is almost common and actually Ive seen the design somewhere else before. The details are only focus on the sales and the softcap and hardcap counter looks fake and not actually rated based on actual sales. Thats the problem with ICOs before the token sale page was never real and only a bluff to those investors and the one will fall will be rekt. The fund sale are not true and created only to boost the project hype. I will prefer an IEO over some untrusted newly created project.
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