Topic: Reducing scam - page 20. (Read 17916 times)
I believe that it is possible to reduce fraud by introducing harsh rules and conditions for all new projects. Accordingly, if you tighten all the rules, the percentage of fraud is reduced.
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.
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.
There's an opinion that the community will naturally solve this problem sooner or later - investors and traders will be smarter and more experienced, and regulation will be strengthened. Earlier people invested in projects which teams had no links on Linedin, and today most people don't trust projects which have no photos and video.
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.
Base on what I think it is the participants/investors why? 1. As for the Investors they try to work and see how it works and try there best not to get scam.
1. We all know that scammers scam? Right they do there best to make everything reall and good as much as posible.
2. Scammer scam some people to work to be part of the fake team. So in short it is the scammers fault, but wait...
3. Also participants and investors are the one who gamble to wor, post, endorse and invest to see a win and fail scenario and to if it is not a scam.
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.
As far as I know there's no regulatory body to look at this ICO. But I prefer that country where the project resides should be the one to regulate it not a global body. Individually though, what we can do is try to research more on the projects that we wanted to invest. Might take more time from us, but it will really bring some peace of mind specially if you are willing shell out huge money for a certain projects.
Advisors for me is not a indication that the project might not scam. Those scammers are also money at their disposal. They can pay anyone up-front in the beginning like reviews or even advisors. They are willing to take the risk because they know they can get huge money in return for deceiving people.
You can follow the guidelines mentioned in below guide
https://bitcointalksearch.org/topic/guidelines-how-to-spot-a-scam-ico-report-effectively-5004397
You can use guideline of below thread to check the images of team member
https://bitcointalksearch.org/topic/guide-prevent-scam-some-useful-tools-for-find-scam-fake-ico-team-4586576
Invest wisely and keep your investment safe.
https://bitcointalksearch.org/topic/guidelines-how-to-spot-a-scam-ico-report-effectively-5004397
You can use guideline of below thread to check the images of team member
https://bitcointalksearch.org/topic/guide-prevent-scam-some-useful-tools-for-find-scam-fake-ico-team-4586576
Invest wisely and keep your investment safe.
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.
Forcing investment does not really happens it is up to us on how are we going to handle it though their are fraud. ICO's are really helpful in everyday life because we can gain knowledge at the same time profit in investing on it. The cryptocurrencies is not a problem rather a solution maker.
I think it would be better to research the team behind an ICO thoroughly before investing. Look out for their back records, success made in their line of business. Their profiles and all. But I do believe a regulatory body is being set up for this purpose of reducing scam ICOs
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.
There is a new system I read about Daico The idea was suggested by Vitalik Buterin in January 2018 and is aimed at making ICO’s more secure by involving investors in the initial project development process I think if this concept is fully developed we will have less fraud ICO and ICO will be lively and profitable again.
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 we could not do anything about reducing scam ICOs. But if you are an investor actively participating in an ICO you like. Then better research about the team and advisors.
Scammers going to jail are the only way to fix fraud or scam. If you really think about it, no one is getting caught that is why scammers are abusing it. They will think that what they were doing is right and will keep on doing it. There should be a process where people who started an ICO will be verified first. Fraud will keep on happening if they don't do something about it.
This is a good planning reducing scam implemented it can be for the good of the programs and the assets of members will grown back into higher because of scam is not really too many.Hoping this is corrected as soon as possible in the organizations of the team bitcoin.
The ico scam project was the main cause for Ethereum's downfall, which showed weaknesses and vulnerabilities in Ethereum's technology. Only if the change can make the ico more attractive
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.
You can have this one of 2 ways.
#1 You take personal responsibility for yourself and make decisions as best as you can. You learn form these experiences and tighten up your game. You recognize people are shitty sometimes and you need to take precautions
#2 You can cry out for the government to protect you. The government will then regulate things and set up all profits to go to the bankers and government officials (who are former bankers).
Most will choose #2 because they have been breed to choose safety.
I believe that the new laws in each country can protect us from fraud. many countries have banned ICo but this is not a way out
There are times that scam projevts does decide to use fake identities. They would tell you the names of their advisors, but in the real sense of it, those ones are not aware of the existence of the project. So we really need to look intensively into projects and research on them. We might not be able to totally evade scam projects in the space.
i know scammers are exist in every business but as a Investor we also have to follow some rules before any Investment in any kind of ICO's firstly we have to completely review the ICO and all its services and talk to its advisor's and all its social activities and follow some platforms like icobench etc.
History has shown us people will choose security over freedom. They will sit back and allow the government to regulate this thing to death and that will be that. Not even a whimper from the world population. So eventually we will need full biometric scans to use crypto (which will be the only allowable currency). We need to make sure we keep crying about scams and pray the government saves us.
Concerning recent situation about crypto currency
The best way to reducing scam is by educating people and urging hen to always take precautionary measures
Then we hope they yield to advice because even when there are regulations and laws
People still fall victims
The best way to reducing scam is by educating people and urging hen to always take precautionary measures
Then we hope they yield to advice because even when there are regulations and laws
People still fall victims
The only solution to the incessant scams in the crypto atmosphere is to introduce regulations and adopt stringent rules regarding emerging project by ensuring they have some serious financial outlay on ground before embarking on any project. This will curb unserious and cunning developers looking to scam people.
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