Topic: ICO Red Flags - page 3. (Read 774 times)

New red flag:

TilxCoin (TILX)  Huge bonuses

Bonuses for early contributors start from 60% that can lead to flipping after joining any exchange.

Good idea and very useful. Thank you for this! 

www.tilxcoin.com
[email protected]

New red flag:

Havven (HAVVEN)  Stablecoins concept

Stablecoins is a doubtful concept. Look at what is happening to projects like Tether. Where is MakerDAO?

New red flag:

TomoCoin (TMC)  Website issues

ICO fever is not leaving us a chance to avoid mistakes. I hope the dev team will fix the issue in navigation of their website.
When you are on sales info page and click RoadMap you are getting a Javascript error.

Thank you for the website! Very good work.

I would add 1 thing - "Do Team members have recommendations on Linkedin account?"
For some scam projects - scammers can make fake Linkedin accounts, but it is hard to fake account to look legit. Recommendations from legit sources are pretty hard to fake.

Wow, this is a good website, I have added it to my bookmarks.
Because too many ICO projects are now a fraud project, I think this website is very valuable for beginners.

It gives me more idea which bounty campaigns should i join,most of the ICOs there are being reviewed fairly i think,i hope the people behind this review website are honest,because most of the ICOreview sites are getting paid for the good reviews.

Do not think that the red flag list is to avoid the ICO mentioned there. The only purpose is to show weak parts of the project and not to demolish the project itself. Almost every ICO has red flags. You still gotta do your own due dilligence before investing and understanding what might affect event legit ICO as you say still should public. Of course those ICO that have low severity red flags could still be joined and invested in.

In order to identify real problems we have two mechanisms that allow to grade each red flag:
1. Severity (low, medium, high, very high).
2. Community rating.

Any team after identifying the problem can explain the reasons for that to take place or fix the issue. Then the red flag will be marked as solved and will have a green checkbox in the top left corner of its box.

I like your idea OP because is part of something that will make crypto currency grow and the scam thing in the crypto world was the thing that attract the government regulation issues. However, it will be good if you do your research so well not to include legit ICO into your reg flag list.

Excellent idea!  Bookmarked and I will be submitting any issues I find in ICOs going forward.  I really hope this takes off!

Thank you for the fast response! I will integrate your feedback now and link to this topic.

 

Crypto-Kristen

Fantastic job.  This could be really huge and could help people same their money.  These are the kind of solutions we should be asking for... not government regulations.  Our community will pull together and help weed out the scams.

You got an exhaustive list of questions to be asked before investing into an ICO. That is a great job done!

We believe in the technology and think that any team should have a chance if it is openminded and full of enthusiasm. Nobody knows the future and a small team can make a big difference. However we need to take into consideration risks connected to project.


Things that could be added here:
- Is the technology proposed by the team making any difference and helps blockchains to evolve? (Close to this question: Are they developing their own infrastructure instead? If so, why?)
- What problem does this technology solve that is not solved before?
- Does the technology depend on other projects?


Things to add:
- Were there any public tests of the product performance? Number of transactions per second, potential vulnerabilities, etc.
- Do they have a wallet to store coins/tokens saved offline or is it supported by any working wallets that can be used offline?

Another section that is almost every project is weak at is Business Model.

This is a much needed tool indeed. There is probably no ICO without a red flag out there, even some of the very best, but I would be interested in grouping for this task.

Only bet on an ICO if you can see they have REAL presence elsewhere; i.e. are the team attending crypto conferences, and are there any real collaborations with other companies, and etc. and also very importantly, does the team have a trust-able profile? -- i.e. providing links to their LinkedIn accounts would be a plus.

Bottom line, do not just rely on articles/youtube. Do your own research too!

What does everyone think of the gibraltar blockchain exchange ico? Token sales platform and crypto exchange. https://gbx.gi
Telegram group - https://t.me/GBXCommunity

Great topic!

I've been working with some BitcoinTalk folks on a master list of ICO evaluation questions and would appreciate your input. We've played with the idea of creating a "Deal-Breakers" list like your Red Flags, but haven't formalized anything. The big question with red flags or deal-breakers is how the individual investor views the information. A red flag in some cases may not be a deal-breaker. And a red flag for one person may not be for another, based on opinion and or access to information.

How do you plan to address the issue of gray areas with respect to red flags?

Best,

Crypto-Kristen 

Thanks for your feedback.

First of all we want to keep this section of the website not offending the ICOs. There are problems every ICO has. We never saw an ICO without Red Flags and still they raised their hard cap. Look at the ICO in January.

The second important thing is that investors will still identify problems connected to project. Having it posted among Red Flags just helps the team understand what they have to work on or at least take in to consideration.

The last but not the least thing we would like to keep it fair and support our work and work of the community with some evidence that will allow to distinguish real and fake. If a team understands the problems and solves it we will be marking red flag as a solved. But still there is discussion that can take place in regards of this or another red flag to provide more opinions on that subject.

We plan to keep it as fair and transparent as possible and ready to work with the community and projects to figure out the best way for this section to exists.

In terms of ICOs that are afraid of red flags being publicly discuss we believe that is not the right way to work in this industry. We hope that crypto investment community will provide enough support for truth to be revealed.

This is a tool that we are ready to improve.

Let us know if you got your questions answered.

P.S. The most important idea is that it is not bad to have Red Flags. The right way is to work on improving your project.

I've just checked it out and I suppose it's a really promising and useful idea. I will definitely use your site in my researches. Thank you and good luck!

Wow op, I must say, this really is such a good idea and will really help a lot of newbie investors that are still starting out on investing into ICOs and are looking for great ones in the sea of shit ICOs or simply people that want's to join these ICO's bounties. Not only that, this can also be a great help for those who already are veterans that are too lazy to do thorough research themselves and are looking for easy ways to find out whether the ICOs that they have their eyes on are great to invest in or not.

I really think that this is a great idea. I really do. But the thing that worries me about this is that what if when this source is already big and has become more credible that a lot of people now believes on almost everything that this source spits out then a huge ICO that will pay people to abuse this source to gain more supporters comes? What will happen then? Are there any plans when this type of thing happens?