Many ICO / altcoin scams? - page 12.

jrrsparkles

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Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

When we want the total freedom then we also need to responsible for our spending,if there is no chance for the scammers to make money then they will not survive longer so all now needed from the investors is to stop throwing their cash into all the new crypto projects,only invest if you founds its completely legit.

Kang TB

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Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

risk will always come together with reward,
thats why everyone should think about the risk on crypto investment, not only reward
and ready for the worst conditions, such as losing money, and many more
remember : always DYOR before buying

[email protected]

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Quote from: Kvalentine on September 22, 2019, 12:10:44 PM

Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

Crypto must have favour you alot to think like you do, how much have you lost? you think its that easy to lose money to scam projects? are you in support of scam projects? you should be telling people how they can protect themselves not saying they don't understand crypto, there is big difference between a failed project and a scam project

yes we do have to limit the failure of the project and the project scam. sometimes projects that have made a well-planned plan but do not get development funds and finally the team decided to stop the project we cannot categorize the project scam. because they are real and most projects like that return the money of investors who have entered and apologized.

Mighty_crypt

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Precaution is better than cure, yet you can still make mistakes but will be different from how newbies choose projects
1. Make sure the project have real working product or asset
2. Promote projects from well known CEO,the hardly turn scam because they aim to keep their reputation alive
3. Don't bother much with whitepaper, instead its better to spend time on the teams, try to understand what they are capable of, i mean professionalism

Kvalentine

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Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

Crypto must have favour you alot to think like you do, how much have you lost? you think its that easy to lose money to scam projects? are you in support of scam projects? you should be telling people how they can protect themselves not saying they don't understand crypto, there is big difference between a failed project and a scam project

chaoscoinz

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Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

I agree with you 100% brother, with the rise of innovation (especially within the blockchain community) there is sure to be just as many scams, if not more than legitimate campaigns. The best thing one can do is practice their Due Diligence in order to prevent themselves from being scammed. There were always scams here on the forum, but since crypto is a lot more mainstream than it has ever been, there are a lot of newbies coming to the forums in order to join in the crypto revolution, which makes them targets for seasoned vet scammers.
I shameful have been scammed by a bounty before and even an airdrop. It happens to many of us, novices and veterans.

airdropan

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scam project is not something new and it happend long times ago, but the number of scam this day just getting bigger and bigger. Scammer is someone that knowing crypto quite well, they tricked new investor that don't really understand about cryptocurrency. we need to be carefull before joining and invest on any ICO

acepro

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Quote from: sangjoewara on September 22, 2019, 10:43:10 AM

Protecting yourself from ICO fraud is indeed very necessary, but complaining that having been fooled by ICO is very ridiculous, because there is still a good ICO to this day and now there is also a more appropriate choice, namely IEO, so there is no harm either if someone tries to invest in IEO and leave ICO.

indeed there are only a few currently which have very little clarity even some ICOs I feel are not feasible, and yes for people who complain they are a little strange and if they already know the results are not good they should try IEO or something but remember IEO is almost similar with ICO because he might get an unclear IEO.

Undevd

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Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

About 90% ICO,IEO and etc. is scam including projects which collected enough funds for development. It was like - After token sale token has been listed on some small or medium exchanges. Volume on these exchanges is very low, gradually price of token downs, also no news from the team for a long time. In the end price reach bottom, no news/updates from the team, no volume on exchanges and only spam in telegram chat. I think it can be called scam as well.

sangjoewara

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Protecting yourself from ICO fraud is indeed very necessary, but complaining that having been fooled by ICO is very ridiculous, because there is still a good ICO to this day and now there is also a more appropriate choice, namely IEO, so there is no harm either if someone tries to invest in IEO and leave ICO.

crazy-pilot

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I partially agree with you, but there are too many scammers and we need to look for a solution to this problem. IEOs partially solves this problem, but does not provide a complete solution. Now people are forced to take risks investing in ICOs, this should not be so.

baigreen

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This is a big problem for our community. Unfortunately, most startups are created by newcomers. They are not always scammers but they cannot give a quality product to our community.

If you listen to the news, today statistics are 90-99% fraud in the field of investment in ICO. Not only on the radio but also on television today they openly talk about it. Therefore, investments in IEO on large exchanges are still of interest.

dataispower

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No matter what we do, there will still be scam projects in crypto space. We can only do our part by carrying out proper research / due diligence before investing in any coin. Many think regulations will wipe out scam entirely, that's not even true. Regulations will only reduce the level of scam. Some projects will look very genuine when launched but the team members might conceive scam thoughts in the long run, thereby not channeling appropriate funds to project development, but for personal enrichment for selfish reasons.

jazmuzika217

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Honestly, I think this is the biggest challenge here in crypto, recognizing and analizing if the project or a coin is already scam or legit. From the start you already know the fact and very big possibilties that you will encountered and experience to deal with scam. The challenge is, how you will stay away from scam and if you can't stay away, how will rise again after loss because of scam?

Lance203sin

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A lof of ICO is becoming dead projects. its not a scam but you will loose money

taufik123

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ICO is no longer trusted because it is now a place for fraudsters to raise funds. Do not waste your money for free just to join the ICO, need research for the project you want to follow. Currently IEO is better and more simple and reliable, it's just that if IEO is done in a large market, then the project has a chance of success.

nutriagrigia

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they complain and I understand them. I myself lost a lot of money in scam projects, although at the initial stages they even showed that they were doing some kind of work. but now I’ve stopped thinking about that and stopped complaining and I just move on.

Samboo

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In everything, there exists bad thing. So think scam projects are such bad aspect of the good and revolutionary cryptocurrency. It is obviously true that scam projects have affected crypto world. But eventually bad things will disappear. So to be saved from scam projects, we must be aware.

traderethereum

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Quote from: ATSgrowth on September 22, 2019, 04:54:08 AM

Hi, many people are still complaining how many ICOs ended up as a scam.
The cryptocurrency idea is to create a free worldwide decentralized ecosystem. Free for all, for honest but also for dishonest people. It is free market and you should protect yourself before losing your money. You don´t like it? Then you do not understand crypto.

What you are saying is right, and we need to understand how cryptocurrency works.
Maybe we cannot accept the scam in the cryptocurrency, but that is what happens for a long time ago, and I think that happened in the other business type too.
We need to protect our money, including the assets we have, and if we take involved in the cryptocurrency, we need to search the good project.
But if you think that it is enough to join in the project because the project will get down, then you can move to the other project.
We need to search for the other project and don't just to invest in one project only.
In the cryptocurrency, we have so many options to invest, so that will be our chance to find a good project.
But be careful to select the project after you find the right one.
Make sure you don't invest too big because it is too risky for you.

Ss4sukE

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yes, the crypto market is wide open for anyone who wants to take part in it and in the crypto industry various attitudes of human behavior. if someone complains about a gift they followed ended with fraud, don't blame them. but self-introspection due to lack of self-research that causes a person to be trapped in a sewage pit project.

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