Topic: If an ICO team is anonymous, is it a scam? - page 15. (Read 4401 times)
If the team is anonymous and they do not have a working version of the product, then most likely it is a scam project. Not one investor will not invest in such a project.
Most likely..... If anything surrounding an ICO team seems hidden and concealed then most definitely such a team has something to hide or better put, have ulterior motives. I see no reason why any team will want to remain anonymous and then expect anyone to trust them with their investments. Personally, I stay off any project that has no trace or has no public face. Statistics shows that such projects are bound to abscond with investors monies for the reason that, they can never be traced whatsoever. If a project does not have any verifiable physical presence then it is better you don't trust them with your funds. They have been too many fraudulent activities on this atmosphere for anyone to keep repeating the same mistakes over and over.
It depends on how this anonymity is managed, if they are trying to remain anonymous by stealing the identity of other people online and they are pretending to be them and they do not reveal this to their investors then you can be sure that the project in which you want to invest is a scam and you should never believe anything those persons say about their project.
If in the other hand the developers say from the beginning they are not going to reveal their identities and the project in which they are working requires that kind of privacy out of them and they also do not steal the identity of others then the chances such a project is a scam are way lower.
If in the other hand the developers say from the beginning they are not going to reveal their identities and the project in which they are working requires that kind of privacy out of them and they also do not steal the identity of others then the chances such a project is a scam are way lower.
Yes, definitely scam!
Satoshi didn't ask anyone for money when he set up this system. He didn't say anything to "send me money." On the contrary, he gave himself a great gift to the world.
Now icos are completely based on collecting money from people. And if you want money from me, I need to know who you are!
I agree with you, although basically Cryptocurrency is anonymous but considering ICO is a project that requires funding from early investors like projects in general so information about the company and the team behind it must be validated so that when bad things happen to the project investors can ask for accountability Satoshi didn't ask anyone for money when he set up this system. He didn't say anything to "send me money." On the contrary, he gave himself a great gift to the world.
Now icos are completely based on collecting money from people. And if you want money from me, I need to know who you are!
The main purpose of decentralization is to have anonymity. But it's really hard right now to join in a project when the team is anonymous because most of them turn into scam.
Not all but most of them.
Not all but most of them.
Yes, definitely scam!
Satoshi didn't ask anyone for money when he set up this system. He didn't say anything to "send me money." On the contrary, he gave himself a great gift to the world.
Now icos are completely based on collecting money from people. And if you want money from me, I need to know who you are!
Satoshi didn't ask anyone for money when he set up this system. He didn't say anything to "send me money." On the contrary, he gave himself a great gift to the world.
Now icos are completely based on collecting money from people. And if you want money from me, I need to know who you are!
What obligation someone who is anonymous and can't be found anywhere has to investors? Non. Someone collects cryptocurrency worth millions dollars and they don't need to continue with project because they already have funds collected, and why would they continue? It is easier to move to new ICO and collect funds again.
Now few people invest in projects that do not see the team members. How can you invest in such a project? The first thing you need to look at the team, their past work and projects.
For the most part, Yes , you do not need to invest in anonymous creators , now it's mostly just a Scam and you will be divorced, invest where the team is open !
Of course, until now, an ICO that wants to succeed requires a really strong team. Because they are the majority decision of the investor when researching a project. If anonymous team is better then you should ignore them.
When deciphering between legit and scam ICO's, one of the main things everyone says is "you have a look at the team and see if they're transparent."
The thing is, the whole ideology behind decentralization is that it gives the public control over the economy's trajectory, rather than centralized and specific entities.
I see the Virternity Project, for example (https://virternity.com/), which prefers anonymity, but I'm not sure it means it's a scam ICO.
from their FAQ:
"Why aren't you revealing who is in your team?"
"The members of our team are enthusiastic about the idea of creating the Virternity space for the whole world. We want to avoid “buy-outs” of our specialists and co-workers, and also avoid pressure on them.
Also, given the limited financing at the initial stage, we are using anonymity as a shield for our technological secrets—the specifics of our current and future developments.
Many members of our team have serious jobs in major firms and do not want to advertise their participation in a non-commercial project, in order to avoid conflicts of interest.
In the future, once these factors are less of an issue, we plan to publicly name the founders and key personnel."
Satoshi remains anonymous..
Thoughts?
I believe there to compare Satoshi uncalled for! As far as we all know more than half of the projects and so are fraud, and if we still invest in anonymous projects that we do not even show their identity, for me it's too much, so I'm such a dubious projects bypassed. The thing is, the whole ideology behind decentralization is that it gives the public control over the economy's trajectory, rather than centralized and specific entities.
I see the Virternity Project, for example (https://virternity.com/), which prefers anonymity, but I'm not sure it means it's a scam ICO.
from their FAQ:
"Why aren't you revealing who is in your team?"
"The members of our team are enthusiastic about the idea of creating the Virternity space for the whole world. We want to avoid “buy-outs” of our specialists and co-workers, and also avoid pressure on them.
Also, given the limited financing at the initial stage, we are using anonymity as a shield for our technological secrets—the specifics of our current and future developments.
Many members of our team have serious jobs in major firms and do not want to advertise their participation in a non-commercial project, in order to avoid conflicts of interest.
In the future, once these factors are less of an issue, we plan to publicly name the founders and key personnel."
Satoshi remains anonymous..
Thoughts?
I would not put money in an ico where the team does not show itself in public.
Something like that just does not give me any confidence.
But everyone has to decide for themselves what he does with his money.
Yes I agree with you. ICO hidden their profile simply means it is 92% Scam which might turned out to be 💯 Scam. But even those that display their profile out there are capable of doing such to investors. So one have to be careful and carry out more research before investing in any project. Something like that just does not give me any confidence.
But everyone has to decide for themselves what he does with his money.
I also have to admit that today projects with an anonymous team are almost always fraudsters. For me personally, they absolutely do not deserve any confidence. Before investing my money, I always carefully study the features and perspectives of each ICO. And it is the information about the team that becomes for me the most important criterion of a suitable choice.
Nope, that's not what we bases for but through there platform that they promoted .We are all anonymous here so don't just believe for that. Just be focused with yourself how it can choose a legit one because that's the importance.
I also have to admit that today projects with an anonymous team are almost always fraudsters. For me personally, they absolutely do not deserve any confidence. Before investing my money, I always carefully study the features and perspectives of each ICO. And it is the information about the team that becomes for me the most important criterion of a suitable choice.
In my opinion, the project team is his face, and his face should always be open, but, of course, there are projects that hide their team, but I think that this is unfair for platform investors, because it turns out that they donate their money to someone then, and based on that there is a lot of distrust towards such projects.
The Virternity mentioned in the original post is not the only project with anonymous team. Even the Ethereum Limited which appears to be having a successful ICO has an anonymous team. I am waiting to see how the project concludes. I can't tag it a scam yet.
If the ICO team is anonymous, it is likely that Ico is a scam, there has been a lot of ICO that scam is unknown to the team. it's better to avoid ICO like that.
I don’t understand how to invest without knowing where? Personally, I would not have made such an investment. Should there be guarantees, who should make claims if problems arise? Also anonymous?
Why would someone invest in some projects knowing the team is anonymous. More like you are giving your hard earned money for free and it's easy for the developers to run away with investors money. You should not be investing in some anonymous devs and stay away with this kind of projects unless you are so dumb.
I believe that the team should show its faces, if it does not show them, then the project can be considered general, then you need to show all the code and declare the project open source, so you don’t need to collect money for it.
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