Reality of tokens - page 8. | Bitcointalksearch.org

Erdogan

legendary

Activity: 1512

Merit: 1005

Quote from: #Darren on October 15, 2019, 08:38:24 AM

It is not difficult to write a simple smart contract, create a website and write a whitepaper, costs you in total less than 500 bucks. But the problem is that back in 2017 that could work, but now people want working products and real use case.

It's not always like that. The cryptocurrency community is still very young and is growing all the time. New people do not know how to verify the credibility of the project. I think scammers are looking for such people. And I think many is scammed by them. Let's hope that this will change and new users will learn first and then invest.

#Darren

sr. member

Activity: 784

Merit: 250

DIA | Data infrastructure for DeFi

It is not difficult to write a simple smart contract, create a website and write a whitepaper, costs you in total less than 500 bucks. But the problem is that back in 2017 that could work, but now people want working products and real use case.

strunberg

sr. member

Activity: 1344

Merit: 335

#SWGT PRE-SALE IS LIVE

Quote from: ajaymukund on October 15, 2019, 07:12:45 AM

That's why there are so many scam projects here. when many projects always hide the team's information and come up with ideas that can't be worse to cheat.
Therefore, investing in ICO projects is really very difficult. We must be very careful in our analysis before making any investment decisions.

that's why we must deeply analize the projects quality.if we don't do this by ourself we will face bad reality in market,such as trapped in fake projects or even we loss all our money.we will easily find fake projects that based on token,caused it easy to create and many people provide their services about smartcontract creating.unresponsible person will copy other whitepaper with this token.

ajaymukund

member

Activity: 784

Merit: 10

https://streamies.io/

That's why there are so many scam projects here. when many projects always hide the team's information and come up with ideas that can't be worse to cheat.
Therefore, investing in ICO projects is really very difficult. We must be very careful in our analysis before making any investment decisions.

dimonstration

hero member

Activity: 2758

Merit: 705

Dimon69

Quote from: Aabcde on October 15, 2019, 05:16:12 AM

I think ICO is less attractive now. Even though there are some projects that run ICO but eventually it will fail and bring novice investors money.
With this service, it can finally be seen that deceiving people is easy and inexpensive, not comparable to what they get from investors. It's better to learn more from experienced ones to invest in the right and profitable way.

It's less attractive yet some were still able to scam many especially newbies,I hope time will come that ICO will be eliminated and only existing projects will do their fund sourcing or if there are new projects they should be partnered in existing companies that somehow same in their ideas since almost ICO released this year is somehow a coy of old ICO's yet prople still invest in it.

tenakha

hero member

Activity: 1470

Merit: 509

Quote from: HammadAli on October 14, 2019, 01:01:57 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.

Fake team, a copied whitepaper and you are ready. If you write $1 million worthy of token in bounty title, you will find thousands of hunter to promote your scam project. Afterwards all you need to wait for hunt until you will be realized that you are scam.

Everything is easy now and we are the ones who can protect ourselves. Taking these into consideration will be your best profit from crypto.

EdvinZ

sr. member

Activity: 994

Merit: 260

Quote from: avikz on October 14, 2019, 01:26:41 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!

Very good point. In fact, participation in any ICO, unless it is conducted by any large authoritative organization, has lost all meaning. IEO is the only way out of this situation, but there may be fraud too. However, if you want to be sure for the safety of your invested money, you first need to be sure that the development of the project are real persons who already have experience of successful development of cryptocurrencies.

Aabcde

sr. member

Activity: 1050

Merit: 256

I think ICO is less attractive now. Even though there are some projects that run ICO but eventually it will fail and bring novice investors money.
With this service, it can finally be seen that deceiving people is easy and inexpensive, not comparable to what they get from investors. It's better to learn more from experienced ones to invest in the right and profitable way.

OasisDre

member

Activity: 532

Merit: 41

Tokens are worthless and this is why i think ETH can still lose its second position on cmc if this is not fixed , ETH blockchain has become most use by scammers in crypto world and it keeps growing yearly, 90 percents of useless projects are running on erc20

o48o

legendary

Activity: 3080

Merit: 1178

Leading Crypto Sports Betting & Casino Platform

Quote from: TanakabZX on October 15, 2019, 03:17:43 AM

What can we do about it? whatever happens to tokens will have impact on ethereum future,

These thousands of different made up tokens don't impact on ethereum future what so ever. Anyone can make them. That's the whole point.

Quote from: TanakabZX on October 15, 2019, 03:17:43 AM

i hope vitalik can do something about it on the long run before more damage is done to eth glory, eth teams need to start removing bad projects

The whole point of ICOs is that they are unregulated smart contracts that can transfer tokens without involvement of any third party authority. There's nothing that Vitalik should do about it.
Only thing we can do is not give money away for obvious scams with fake or anonymous teams. More research you do on where you are putting your money in, more safe you are.
If you want to own your own coins, it's really your responsibility on where you spend them.
If you don't want to be responsible of your own coins, you can try some custodial wallet services, but that takes away the whole essence of cryptocurrency and those can be scams as well.
If you want safety but and you can't provide it for yourself and still want to invest to sales, you can always try highly vetted and regulated IEOs by trusted exchanges that have some safeguards to protect their customers in case of the fraud.

But even if the project is not a scam, it doesn't guarantee that you wouldn't lose ton of your invested money when the price drops.

Hippocrypto

sr. member

Activity: 1484

Merit: 277

Quote from: Yaunfitda on October 15, 2019, 03:21:50 AM

Quote from: HammadAli on October 14, 2019, 01:01:57 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.

That is really the sad state of alt market right now, anyone can hire someone to create a supposedly token for them for a mere $50 just like you find and then BOOM, start of scamming crypto investors in the community.

And this is the main reason why projects last year and up to this year are not moving forward, gone are the days (2017), wherein there's a ICO craze. People not as getting smarter as well because ICO projects are exposed as 99% scammed.

They've learned more diversions instead of quitting in crypto, people were now clever enough in taking advantage with the current market. That's why our trend is very unpredictable, and I am not convinced on those latest ICO projects this year to attain a good results. We're now nearly to end 2019, holiday season is only two months to go and yet it's still a mistery on what will happen with crypto market this December.

Yaunfitda

hero member

Activity: 2870

Merit: 594

Quote from: HammadAli on October 14, 2019, 01:01:57 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.

That is really the sad state of alt market right now, anyone can hire someone to create a supposedly token for them for a mere $50 just like you find and then BOOM, start of scamming crypto investors in the community.

And this is the main reason why projects last year and up to this year are not moving forward, gone are the days (2017), wherein there's a ICO craze. People not as getting smarter as well because ICO projects are exposed as 99% scammed.

TanakabZX

member

Activity: 504

Merit: 16

Quote from: Rampagoe004 on October 15, 2019, 02:01:19 AM

It turns out that it is very easy to make tokens on an ICO and there is not much capital spent so it is very easy for fraud projects to occur like they are now without work but can produce so much, this is the problem we have to solve so that the ICO scamer project does not grow and become more rampant.

What can we do about it? whatever happens to tokens will have impact on ethereum future, i hope vitalik can do something about it on the long run before more damage is done to eth glory, eth teams need to start removing bad projects

Onuohakk

member

Activity: 672

Merit: 29

We should all be careful when trying to invest in any project. If someone can create token with just $50, that means we ain't safe anymore in crypto. Crypto regulation is all we need now to stop this fraud before it eats so deep into the system and becomes a norm

HammadAli

member

Activity: 136

Merit: 12

Quote from: Periodik on October 14, 2019, 09:36:44 PM

Quote from: HammadAli on October 14, 2019, 01:01:57 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.

Token creation nowadays is very handy even a little child could create his own token. And if you want to appear more professional and legit, there are hundreds of whitepapers out there in the internet and copy-paste some portions of those and you will have now a professional-looking scam. And if you have more than 50$ to start with, you could join crypto or blockchain conferences even as an audience only and you have already earned additional merit to blind investors.

In addition to it, go to conferences and make selfies with people who have reputable names in Crypto. I saw samething in a scam token Roobee where the creator has clicked selfies with Binance CEO etc..... And people get fooled with it.

Rampagoe004

sr. member

Activity: 1624

Merit: 339

https://duelbits.com/

It turns out that it is very easy to make tokens on an ICO and there is not much capital spent so it is very easy for fraud projects to occur like they are now without work but can produce so much, this is the problem we have to solve so that the ICO scamer project does not grow and become more rampant.

o48o

legendary

Activity: 3080

Merit: 1178

Leading Crypto Sports Betting & Casino Platform

Quote from: HammadAli on October 14, 2019, 01:01:57 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.

These kind of services have roots way before when eth icos were a thing. Back then people had services that they will make/fork a simple coin for you (i think that they still offer those). And because lack of ico funding models there were lot's of pump & dump schemes to make money instead. Interesting to see what they will come up next as they always find a new way.

Mike Mayor

hero member

Activity: 966

Merit: 535

THat's nothing. You can basically buy a "scam in the box" ready to scam away. You get ICO creation software. All you do is like you say to make the social networks and copy and paste the bounty just like every other bounty does.

Have a look https://codecanyon.net/item/icowallet-ico-script-complete-ico-software-and-token-launching-solution/23203151

Basically write fluff change the theme make some social media and fake bounty. Everything is copy-paste so it can be put up within an hour. It is disgusting. They do nothing and earn so much. There are actually projects out there trying their hardest and these guys come and do this.

MCDev

sr. member

Activity: 680

Merit: 255

Thanks for your link.
It's easy to create a coin or token, so scam projects are everywhere. Up to now, people no longer believe in ICO projects.

jessyj48

member

Activity: 756

Merit: 14

Quote from: HammadAli on October 14, 2019, 01:01:57 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.

So it only takes 50$ to create an ICO website? no wonder scammers are growing big in crypto space, no wonder Erc20 tokens ars mostly useless and garbage projects, this is why i warned people about tokens, all the listed coins on cmc 80 percent are tokens and almost all of them are scam projects, thanks for sharing the link i will spread this out as possible

Topic: Reality of tokens - page 8. (Read 1196 times)