Reality of tokens - page 5. | Bitcointalksearch.org

Omega Weapon

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Quote from: HammadAli on October 14, 2019, 02:01:57 PM

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

What an awful thing, it is precisely because of things like this that the interest in icos is never going to be high again, if they can invest only 50 dollars to create their coins this means that in order for this scam to be profitable the scammer only needs to deceive one person and that could be enough to give him profits, and once the scammer gets profits out of this he is incentivized to keep doing it, and this is probably the cheapest service out there, there must be other services that charge a lot more than that to create a fake coin that will pass many of the checks we will make to try to detect scam projects.

nomenclatur

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make a token very easy for those who want to plan their deception will continue to make a token and making false and program team prize with a grand prize that many projects follow them fool all investors with the promise of a sweet reality are all fake and traps to get money investors. bounty hunters are often used to advertise freely their projects for free.

dimox

legendary

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they can make everything with money. you just need new product/ico and than prepare all the untruth. you can ask someone who scammer too to create what you need. and than it will give you big profit from ico.

Quote from: auntyjmary on November 07, 2019, 06:46:07 PM

People are mostly moved by hype and what they see trending on social media. The same way goes with tokens that created by most projects. By now, it is obvious that most people are into crypto mainly for the money and not the beauty of blockchain technology. This simply explain why people are easily lured or scammed by cheap tokens.

as time goes by, people will realize different between the past time and now. and the most of them firstly, do anything for money, than for the system

zhengqi

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The reputation of the ICO is very spoiled. Tokens are really not needed by anyone right now. In addition, scammers come up with new ways to steal money from people.

auntyjmary

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People are mostly moved by hype and what they see trending on social media. The same way goes with tokens that created by most projects. By now, it is obvious that most people are into crypto mainly for the money and not the beauty of blockchain technology. This simply explain why people are easily lured or scammed by cheap tokens.

Lauren Smith

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Quote from: avikz on October 14, 2019, 02:26:41 PM

Token market has become very similar to HYIP market where you can simply buy a php script and hire a designer make a website for you. It's even simpler for ICO market because you won't need any script, just wordpress hosting will do the trick.

It's really sad that cheaters are targeting crypto market as well in big numbers. That's the main reason why ICO market has lost its credibility! People need to understand that tokenization of everything will only lead to big disaster!

You can't just blame the scammers. They spend like $100 for an ico package software and host it. If people are too silly to believe such a lot of rot and garbage that is thier business and their own problem. You cannot continue to blame the scammers. People should know by now. Those that do not are just foolish.

barnes13

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This is pretty scary for those who are beginners and want to invest in crypto. If they are not aware of this and make random investments in new projects, they can become the next victims. Actually this is the importance of learning the utility of a project token, if they cannot explain it in detail and only make tokens without clear benefits to the community, then there is a possibility that they only use services like this. Especially if they also don't provide whitepaper, team background, and other important materials on their announcement threads, this will increase our suspicion of them. It's really ironic, I hope those who intend to commit fraud in this forum can be immediately caught up with reports and speculation conducted by members of the forum.

FanEagle

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Quote from: ajiz138 on November 04, 2019, 03:32:42 AM

This makes it very easy for scammers to develop their scamm projects and deceive everyone. Making ICO tokens and websites requires only $ 50 capital. Anyone can make it. All that's left is to add a support group and post it to the forum. but the most difficult and cannot be duplicated is whitepaper, because all project objectives are in whitepaper.

Lol, I wonder what they are establishing that is making them quote such big amount of money for the project, and even the campaign they claim they pay for, do they even pay for it that much. The only projects that I see should require big amount of money are projects that would want to establish a real life project like plants or farm which requires the use of physical material and labor which we all know is quite expensive.

When you see these project quote millions of dollars, you will think they are going to create a very big massive physical projects, and this is why majority of them end of scamming, and like one of this forum mates once said that, they would rather go with the money, than to do anything or spend anything from the money when they know they cannot even get the profit in 20 years.

Bitbtc8

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Quote from: bigcash2011 on October 14, 2019, 03:26:59 PM

This is the reality and this has really damaged the whole ico market and also has imapcted overall crypto market very negatively, the only way out i see is that there should be some centralized registration and licensing authority that should only allow icos that fullfill minimum quality, kyc and use case parameters.

Its damaging all crypto entirely not just ICO, people are investing in ICO and IEO mostly because they prefer short term profits unlike when investing in old altcoins that mostly requires long term hold, if crypto is going to see better adoption this space have to be scam free

TheClownSong

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Quote from: ImSuparmin on November 03, 2019, 07:20:16 PM

not all tokens that we have really exist on the market, a lot of tokens that we have only become invaluable junk and who knows how long the tokens will be on the market, I am very confused by all this, why do some tokens become trash, can anyone explain?

Agree that many tokens have become junk and even the project has been abandoned by the developer team. This happened because the developer team failed to deliver the roadmap and also the target in the whitepaper. In addition, there are also many developer teams that have aimed to deceive investors from the beginning and carry off the money from the sale of tokens

ajiz138

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This makes it very easy for scammers to develop their scamm projects and deceive everyone. Making ICO tokens and websites requires only $ 50 capital. Anyone can make it. All that's left is to add a support group and post it to the forum. but the most difficult and cannot be duplicated is whitepaper, because all project objectives are in whitepaper.

minairia3

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Quote from: BintangBuleun on November 03, 2019, 06:38:24 PM

Quote from: HammadAli on October 14, 2019, 02:01:57 PM

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

Making ICO very easy for those scammers, but if they want to do it seriously, then they need a lot of capital. For example, make a project about exchanges. I think not enough money with $ 50.
So, if we want to choose ICO investment, then we should be able to see which projects will run their business seriously.

Why not? I think its easy to set up a website or platform that isn't working yet, and just mentioned soon it will be up or downloaded via apps. Scammers would never let you feel they are scamming the community. This is their skill and they know how to handle marketing and peers for gaining trust, even how long they need to do it. Yes, lots of projects are suspicious, so better resort to IEO than ICO to be more safe.

ImSuparmin

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not all tokens that we have really exist on the market, a lot of tokens that we have only become invaluable junk and who knows how long the tokens will be on the market, I am very confused by all this, why do some tokens become trash, can anyone explain?

InwardContour

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Quote from: Absolutep on November 03, 2019, 06:44:23 PM

It is really sad to see things like this going on in the crypto world. Everything is getting worse by the day and no one is able to do anything about it, i am not surprised that scammers are increasing on daily basis.

Most projects will never achieve 10% of what's on their roadmap. It's funny that new projects keep sprouting up on daily basis, I think many utilize such cheap services to come up with especially ERC20 tokens and website to scam people. Some will even go as far as designing a fake MVP, thereby making investors hope for main product launch. It's obviously a sad reality my dear.

Absolutep

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It is really sad to see things like this going on in the crypto world. Everything is getting worse by the day and no one is able to do anything about it, i am not surprised that scammers are increasing on daily basis.

BintangBuleun

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Activity: 517

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Quote from: HammadAli on October 14, 2019, 02:01:57 PM

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

Making ICO very easy for those scammers, but if they want to do it seriously, then they need a lot of capital. For example, make a project about exchanges. I think not enough money with $ 50.
So, if we want to choose ICO investment, then we should be able to see which projects will run their business seriously.

Sithara007

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Quote from: Stanlo on October 18, 2019, 03:20:20 AM

Its one of the reasons why i like investing in standalone coins that are not running on erc20 blockchain, its because tokens are easy to build thats why it has become scammers favourite tool, this is tarnishing the image of Ethereum itself

I agree that the abundance of the ERC-20 tokens have tarnished the reputation of Ethereum. But we should not forget the fact that initially, ETH benefited from these tokens as well. In 2017, when the ICO boom was at its peak, the exchange rates of ETH (vs USD) went up by more than 100 times. This was even more than the rise that BTC had.

And regarding the ICO scams, some of the blame must be put on the investors. A lot many people tend to invest in the projects without studying about them in detail. And when these project turn out to be scams, the investors start blaming Bitcoin and the cryptocurrencies in general. I am tired of listening to the whining that comes from such people. They should have been more careful... and perhaps less greedy.

henmark

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Quote from: lobat999 on October 14, 2019, 10:50:39 PM

Most of these types of frauds had been going on for quite some time even before the advent of ICO's that is why we need to raise more awareness on this things to prevent people from getting victimized over and over again!

Fortunately, I think the cryptosphere is now getting more matured and most of its members are now well aware of this kinds of scam and should be equipped with necessary knowledge to detect it and avoid it accordingly not like before when mostly were victimized due to their naivety!

I believe so too, and it is because investors are being very careful now that even the good projects are still not getting to meet up with their hardcap again, many investors are always very skeptical now in putting their money into a project that they are not very sure of.

I thought that it would be difficult for people to really make research, but people are making research very well now before they commit their money now into the ICO market. I know that the time will come that all these scam project will be very discouraged about releasing any project too because they will not see anyone to buy into their idea, while hunters too are being picky about project before they project it to the entire world.

So, I think that we are getting there in this aspect of selecting a project very well before investing in them.

Bitartistt

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there is new project called hawk network and this project has more potential than we think, i suggest all you guy please take look on that here is a twitter link of them
https://twitter.com/Hawk_HKC/status/1184768244802052096

Stanlo

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Its one of the reasons why i like investing in standalone coins that are not running on erc20 blockchain, its because tokens are easy to build thats why it has become scammers favourite tool, this is tarnishing the image of Ethereum itself

Topic: Reality of tokens - page 5. (Read 1158 times)