The fact that it is very difficult to delete some scammers they always find an improvise way and they always try different method or things and find out how to scam again a new people in the crypto world. It is better way to prevent a scam if we are going to be picky of the actions that we are performing.
Topic: Reducing scam - page 6. (Read 17832 times)
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.
It will be very interesting if a certain legal basis is created in the crypto market to protect investors. But this is unlikely to happen in the near future. Therefore, investors themselves need to be more attentive and smarter, because they risk their money. You must be especially careful about the choice of projects for investment.
In addition to the vigilance of each cryptoinvestor, it would be nice if the organizers, owners, guarantors provided their comprehensive data for the community. Something like KYC for developers. In this case, no one would support scammers.
Scams will always be there if people keep falling into their traps. With the increase in EIOs the number of scams will fall as investors switch to ones that are verified by exchanges and will actually list their coins. This is better than ICOs which may of may not get listed
I think its time that ico needs to be regulated. The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam
I agree. One thing that could surely reduce or discourage scam activities is to apply the full force of the law whether internationally or locally. In this way, it will make the perpetrators think twice because such activities are tantamount to fraud involving millions and millions of dollars and its high time that Governments should take necessary actions to protect the welfare of all investors.
I guess, since a lot of investor have an account here in bitcointalkforum why we should do regulation and standard before getting to advertise here. The team here shouldnt give freedom here to post about their project, they must do kyc or anything that secure that they will no run away from the bounty and investor. Have enough legal papers, something like that
I think its time that ico needs to be regulated. The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam
Maybe we shall wait the board to finally decide and approved the propose SEC regulations, and this will be the time that we can stop scam project into at ZERO level. For this time, as a member of the crypto community, only we could help is to give awareness about scam project and hold investors to not get involve with.
Indeed, we are not forced to invest in ICO projects. This also makes many people look angry or disappointed because there are many fraudulent projects. Regulations that may already exist so far are not enough to make fraud disappear. But all decisions also depend on us to be more careful.
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 that IEO solves the problem of ICO .The idea of IEO makes investing great again in cryptocurrency.Last year, investing in crypto was shit. Bearish market, ICO scams are everywhere. But, with IEO you can invest your money in a legitimate project. But of course be sure to know the project as well.
I think its time that ico needs to be regulated. The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam
Maybe we shall wait the board to finally decide and approved the propose SEC regulations, and this will be the time that we can stop scam project into at ZERO level. For this time, as a member of the crypto community, only we could help is to give awareness about scam project and hold investors to not get involve with. 
I think its time that ico needs to be regulated. The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam
Reducing scam is very hard to achieve but if everyone of reports all suspicious or fraudulent activities related to this we can lessen the numbers of scam. It is great since we can assure ourselves that our money are free from this type of threat in cryptocurrency.
I think that ingda is very difficult to determine whether the project is fraud or not. Without the help of regulators, I think it will be very difficult to defeat fraud in the world of cryptocurrency.
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.
Several months down the line and IEOs have solved the fraud issues, however investors still loose money at the exchange after buying from the IEO successful participants and I wonder how we can curtail this very problem to barest minimum
Reducing scam is a daunting task but not impossible and it should be ideally spearheaded by the cryptocommunity. Yes, we as crypto enthusiasts should do our best in weeding out scam projects by doing research on that particular project, ask relevant questions to team members including the technical aspects and every details of it as possible, observe team's responses and judge whether they are competent enough or just mere cons. Ultimately, red flags and other negative signs will come out if it turned out to be a scam project and we should act accordingly based on our perception of that project.
Yes it is high time to discourage and eliminate scammers from the market. They are scammers who are damaging the glory of cryptocurrency, thus distracting investors or even institutional investors. We all should unite against this frauds. Crypto experts and rating agencies should also stop giving good rate to fake projects. Likewise, regulations should also take in place.
Unfortunately there are way to many scammers and we surely cannot eliminate all of them from the market. But what we should try is at least reduce the number of them so that the others will get discouraged and disappear. Scammers are everywhere and they will always exist, you eliminate one and then another one appears. if this is allowed then this will be detrimental to investors, regulation seems to be needed to reduce the project scam
Agreed, a regulatory framework is necessary to bring sanity to ICO and blockchain. The issues will be does the regulatory body have jurisdiction over all crypto projects or those domiciled in some particular countries. This for me is the major issue. Some projects claim UAE and on telegram, claim Estonia. So which is which . How do we make them stick to their words not just some rehearsed project without product
Regulation could be that big help but it is not enough to stop them. It is our participation and awareness who could finally bash them out and not letting them spread. They have that very attractive rewards for promoters which could catch attention for investors and for bounty hunters. They'll have that strategies to catch their victims, that is why we should spend to research and find out what is behind this project before investing.
You are right that more and more ICOs everyday are becoming fraud and scam. We cannot eliminate those kind of ICOs in crypto but there ways to minimize them. First is we have to regulate it. There should be a governing body that will check all the information submitted by the developer regarding their ICO. It should be clear and transparent. Also, as an investor, try to invest in an ICO with already existing working product because it has more potential to succeed.
The solution is self-regulation by the community, no state regulation, this goes against the purpose of this technology.
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.
KYC verification reduces scams risk a little bit. Advisors responsibility? How do you imagine this?
Advisors are just those guys that help the project with... their advice, lol
They don't care much about the results Jump to: