Topic: Reducing scam - page 19. (Read 17881 times)
Though I never favor regulations in general, I believe there need to be some regulations for ICO frauds. The market is expanding exponentially and so are the chances of losing your investments to frauds and scams. I hope we can will be able to figure out something that explicitly affects only frauds and doesn't regulate the market in general.
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
No matter how paradoxical it may be, but in this case only the introduction of strict regulatory measures in relation to the cryptocurrency turnover will help. And this is contrary to the spirit of freedom and anonymity of crypto. So, either regulation or rejection of ICO.
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
I think the solution for this is depending on government regulation or our own research. Regulation from many country will prevent scam developer running their operation and they can be ensnared by the law
We need state regulation of all ICO projects. Each ICO will be an officially registered company with officially registered individuals who will be responsible for their company. I think that only such measures on the part of the state can somehow reduce the number of scams. Only this will help us. Only this will save us.
Advisors aren't the only people that are responsible for those ICO's but the devs itself.
Do your initiative that only support those ICOs that has a legit project and is being backed by a real company. This is just my standard although I'm not really into ICOs but if someone out there and is a fan of ICOs, change your standard and don't support those ICO scams.
Do your initiative that only support those ICOs that has a legit project and is being backed by a real company. This is just my standard although I'm not really into ICOs but if someone out there and is a fan of ICOs, change your standard and don't support those ICO scams.
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
we agree, and there must be a role in each country to be a regulation that prevents the coming of ico scams, especially those that do not have concepts and products as their mainstay. of course, when this has a big impact, the market situation tends to be red.
we have discussed a lot about this but there is no meeting point that can be the best option.
Just strong regulations could help to prevent so many scams in ICO.
Before ICO, company must provide all documents. Most helpful solution will be deposit (For example 20% from ICO hardCap, like HardCap 20M - deposit 4M).
I understand it will be really hard, and many won´t be able to collect such an amount. But, it will protect investors somehow..
Before ICO, company must provide all documents. Most helpful solution will be deposit (For example 20% from ICO hardCap, like HardCap 20M - deposit 4M).
I understand it will be really hard, and many won´t be able to collect such an amount. But, it will protect investors somehow..
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
Actually this problem can be solved by only investing through the legit ICO listing platform. There are some exchanges listing ICO of other companies.
They already verified the company who want to holding ICO through their exchange. And investors won't do their research for long because the ICO being held there is already verified.
I agree with you.
this way the scams will decrease by themselves, which is my question, is this already there?
Stop supporting ICOs and that will solve the problems for the increase of scams in the market. ~snip~
I think it doesn't fix the problem and it is not the best way in solving a problem. Let's think another way that may break the problem but allows the system to run normally. I see no strict regulation on the process of a project registration on this forum. I mean every project that wants to make its ANN or Bounty must go through several identification stages, like KYC process. I think it can be a good way to minimize scam projects.
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
Regulating or introducing rules for different projects is a real step towards reducing fraud. But then the income tax will be introduced, which in principle will balance the losses. 
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
Actually this problem can be solved by only investing through the legit ICO listing platform. There are some exchanges listing ICO of other companies.
They already verified the company who want to holding ICO through their exchange. And investors won't do their research for long because the ICO being held there is already verified.
By creating a regulation for any project that opening an ICO to gain some funding can be a good way to prevent any scam project. It could be able to protect anyone from being scammed, and the potential of scam project will be minimum.
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
If i'm not mistaken, there is news that in some country, they are implementing the regulation on the ICO (*i'm forget where do i got that news), that way will be able to reduce or even remove any possible ICO cause that would be able to be tracked and easier to be proceed for judgement.
Not only do ICO investors lose faith in projects that include airdrop members or bounty holders too. Downtrend market has not seen signs of recovery. Projects continue to delay ICO sales or extend sales. Seriously, investors do not want to invest in new projects with their reasons. For me, I prefer trade or hold coin rather than investing in new ICOs because it implies a lot of risk behind.
Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.
its because crypto is anonymous so about this problem, we (investors) are truly prone on such scam project. although ICO didnt force us to invest, because we are just wants to earn from their project but they abuse their own project to scam others. so to reduce of being scam, let us other investors review it before we go thru when you dont have any idea about the project, or make your own research about them, because without this you can be get scam again.
Stop supporting ICOs and that will solve the problems for the increase of scams in the market. There will be no more ICO if there's no market for them and we are their market so if we are no longer investing to such ICOs, they will notice the dramatic fall for this market and they might shift to another way of crowdfunding.
If no one will support the ICOs it will die, and as a result, no more ANNs and Bounties can be found here in the forum, is it what you want? The reason why so many people come here is to find ICO projects or bounties to join to make money. Now, when no one will support these ICOs they will fail, and therefore, participants like you and me since we're supporting them as it's clear in our signature will never receive rewards in terms of token because they don't have funds to pay us.
ICO's, ITO's and any projects that requires an investment should be regulated. Some sector in the government should regulate these new crypto projects. They should be required to submit some proof of legitimacy with valid ID's and a valid address to their office.
on this topic it's important to remember that a legitimate project would comply with these KYC-enforcements and such, which means if you're only in it for the money,
one could count it as a "bonus point", while those projects who doesn't comply are far riskier.
even if it's, as you said, against the "crypto idea" in a sense.
one could count it as a "bonus point", while those projects who doesn't comply are far riskier.
even if it's, as you said, against the "crypto idea" in a sense.
I have read that regulations and laws are being worked out for icos and crypto in most of the countries especially Australia and Europe is actively working on the regulatory framework, after they implement their regulatory framework for crypto i think many more countries will follow.
Can you give me a reference link for that?Because if that happens then it's great for the future of cryptocurrency that is full of SCAM, this semog is the best solution for the future of cryptocurency.
I think there's nothing we can do about it since ICOs are decentralized, the government cant really do something to stop this. I think proper knowledge is what a person just need to have and a keen mind for him not to be scammed in this crypto currency jungle.
A solution will still be found sometime. You just think, more and more people will learn about the cryptocurrency, more and more people and companies want to run ico (a real project or a scam). This is an endless cycle. I understand now such a time that people are afraid to invest, and what will happen when people start to be afraid to invest in a bull market? Jump to: