SCAM ICOs, what we can do? - page 12.

biddicoin

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Quote from: jhontwis on December 16, 2019, 01:06:37 PM

ICO or IEOs unfortunately cause huge scams. Even if there is no fraud, they can still suffer great damage. Because a person who invests in IEO can lose 90% of his money. Okay, a project is working. However lost Huh

!! The team cannot manage the project. Or he doesn't.

ICO and IEO are very different
IEO is more reliable to invest bcz just small of them is a scam, although ICO is most of them scam

investors already know about this scam incident, that's why proportion to investing in ICO drastically decrease
I think it would make ICO going to end. just matter of time

Ezravdb

hero member

Activity: 1680

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Trphy.io

Some ways to punish scam project. do not support their Bounty program the reason is that currently all Bounty projects always have participants who support promoting, I think we all need awareness in supporting a project and don't trust quickly in an ICO project. browse and analysis on each project of course it will punish the scam project because no one supports doing promotion.

Jocuserious

sr. member

Activity: 1936

Merit: 290

Basically more smart investors already forget ICOs so why you not yet? If you take some bad effect a project then you need to leave and try other one even you need follow their web, developing, roadmap, partnership then simply you can understand. Remember it, a good project community very strong and fast with their developing is very promising improve.

DimitrisLodirogas

jr. member

Activity: 147

Merit: 1

There are still too many scammy ico's out there. I wouldn't even trust ico project too much/or instead investigate them to their roots as far as possible. Not trying to tell there aren't legit project out there...

BuNga_cute

full member

Activity: 1736

Merit: 116

If we find an ICO scam or even fall victim to an ICO scam, it really can't do much. Just be patient and make it as lessons to be more careful
in choosing ICO projects to be followed. For ICO projects, thats true we must be careful in choosing projects to be followed, by carrying out
investigations in a manner overall projects that will be followed. And follow all ICO social media projects that are really active and crowded with
the media social is usually likely to be a real project. Do not be lazy to follow the development of ICO projects that we are following, more and
more The active developer is a good sign, that the project might not be a scam.

ven7net

full member

Activity: 1946

Merit: 112

Quote from: Prolifik on August 28, 2019, 04:48:36 AM

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

To answer your question, I suggest paying attention to other industries and you will see that they all went through this path. Yes, of course it is very bad when there is a lot of deception and this is what causes a lot of mistrust. However, on the other hand, crypto projects must go this way, and the community should become smarter and better at choosing projects to participate. All we can do is simply inform the community about the fraud and point out the fraud, so we can limit the work of scammers.

confreslamp

copper member

Activity: 280

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CINEMADROM ⥋ BLOCKCHAIN FILM PLATFORM

Crypto currencies are mostly decentralised and one of the biggest disadvantages is the fact, that nothing is trackable. People are getting scammed every single day and the majority of our community still prefers no regulations.

jhontwis

full member

Activity: 756

Merit: 104

ICO or IEOs unfortunately cause huge scams. Even if there is no fraud, they can still suffer great damage. Because a person who invests in IEO can lose 90% of his money. Okay, a project is working. However lost Huh

!! The team cannot manage the project. Or he doesn't.

makolz26

sr. member

Activity: 714

Merit: 254

Quote from: Vishnu.Reang on December 16, 2019, 11:06:24 AM

Quote from: dubovts on December 16, 2019, 10:47:55 AM

All we can do, really, about scam ico is spreading the word about them as wide as possible and can make an official complain if we have same jurisdiction with them.

Not practical at all. First of all, in most of the cases we will find out that a particular ICO is a scam only when the funding phase is over. And by the time we start taking actions, the promoters might have vanished with whatever money they could accumulate. And once they commit the crime, these people usually move to third world nations, where the law enforcement and judiciary can be bribed. This makes it very difficult for the victims to bring these people to face justice.

Yes, it's not applicable to do, as people can easily say you are scam although you are a legit one, so other people will just think you are creating any 'Fud'. Anyway, maybe we can just a file to the police for them, as spreading to the social media that they were scam will not really work, people tried their many times, but still the founders manages to run and continue the platform.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

Quote from: dubovts on December 16, 2019, 10:47:55 AM

All we can do, really, about scam ico is spreading the word about them as wide as possible and can make an official complain if we have same jurisdiction with them.

Not practical at all. First of all, in most of the cases we will find out that a particular ICO is a scam only when the funding phase is over. And by the time we start taking actions, the promoters might have vanished with whatever money they could accumulate. And once they commit the crime, these people usually move to third world nations, where the law enforcement and judiciary can be bribed. This makes it very difficult for the victims to bring these people to face justice.

dubovts

newbie

Activity: 6

Merit: 0

All we can do, really, about scam ico is spreading the word about them as wide as possible and can make an official complain if we have same jurisdiction with them.

Kersh768

sr. member

Activity: 658

Merit: 256

Freshdice.com

Quote from: Prolifik on August 28, 2019, 04:48:36 AM

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

We cannot totally punish them directly because first of all, scam projects are hard to determine at first because like successful project, they also look pleasing and promising to the eyes to be able to attract potential investors to get into their project. But if we can be able to notice this at first base, of course with tough proof, the best thing we can do is to inform the public so that everyone will be able to be informed about such project so that they can avoid to be victimized by such. Informing others to avoid engaging into such project will be our greatest revenge or punishment that we can do for them not to acquire what they really want from us bounty hunters as well as investors so that at first base, scam projects won't be able to launch their project successfully just for their own sake.

judaspriest

full member

Activity: 1330

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C O M B O

Quote from: Coroline on December 15, 2019, 06:44:18 AM

It depends on the choice so you have to know what projects the CEO is running, is it experienced so if you already know it all is not possible to fall into ico scam so be careful in choosing a project

ICO regulations are very important to keep investor funds safe, only in the United States that regulates them, therefore ICO from America if they don't pass the SEC you have to be careful 80% of the project will end up dead

SummerBliss

sr. member

Activity: 910

Merit: 254

Quote from: Prolifik on August 28, 2019, 04:48:36 AM

Hi, recently so many past-ICOs turned into a scam or a deadcoin.
Is there anything what we can do to punish them? More than 2 years ICOs are scamming us and still people are investing, is this really a world what we want to create?

I think there is an option of making a central authority which can regulate such ICOs and create some reporting as well as some working standards for them but the problem is that such a thing would not be appreciated by people in crypto community as they will feel that this is violating the idea of centralization and this will actually make us much more dependent on that central authority and would make their leaders over powered. I still however feel that such an authority would check abuse of ICOs as they are literally playing and mocking with people's money and nothing else.

Coroline

sr. member

Activity: 1092

Merit: 256

It depends on the choice so you have to know what projects the CEO is running, is it experienced so if you already know it all is not possible to fall into ico scam so be careful in choosing a project

Webetcoins

hero member

Activity: 2100

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Leading Crypto Sports Betting & Casino Platform

Quote from: Mumbeeptind1963 on December 14, 2019, 11:14:38 AM

Quote from: Vishnu.Reang on December 14, 2019, 11:08:37 AM

The most logical thing to do under such circumstances is to stay away from the ICOs. As per the latest analysis, more than 95% of the ICOs which are getting listed nowadays either turn out to be scams, or fail to achieve the soft-cap. So why take your chances when the probability of getting a positive ROI is so low? I would just stay out of all ICOs until the situation gets better.

We need to take a deep research in everything, from the team to the advisors as well. Sometimes it is not enough if they have a famous advisor , we need to be sure, ICO/IEO must do an AMA so that people wi see their faces so that we have a proof once they did something wrong.

Or else we can simply choose more working and beneficial things. This is the fact of present market that almost 80 percent of new projects are scams and the remaining percentages are merely copies of existing blockchain. It is good to explore and test new stuff but only when an investor holds potential coins that will actually secure his future financially. Like the saying goes, old is gold so the best are bitcoin and few altcoins.

Mumbeeptind1963

hero member

Activity: 1190

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Sovryn - Brings DeFi to Bitcoin

Quote from: Vishnu.Reang on December 14, 2019, 11:08:37 AM

The most logical thing to do under such circumstances is to stay away from the ICOs. As per the latest analysis, more than 95% of the ICOs which are getting listed nowadays either turn out to be scams, or fail to achieve the soft-cap. So why take your chances when the probability of getting a positive ROI is so low? I would just stay out of all ICOs until the situation gets better.

We need to take a deep research in everything, from the team to the advisors as well. Sometimes it is not enough if they have a famous advisor , we need to be sure, ICO/IEO must do an AMA so that people wi see their faces so that we have a proof once they did something wrong.

Durdenkingtyler

member

Activity: 96

Merit: 10

The only thing to to is to learn from history.

We have now seen hundreds of promising ICO's, with many of them having established partnerships, backed by reputable people, team members with Ph.D's and so on.

What does it really mean? Jack shit. Many ICO's have good intentions, but when times get tough they fall through. The problem here is that the company does not really have any incentive to push for success.

Why?

Because the company has already collected years of salary and bonuses through the ICO. They are doing well no matter what happends, the only damage is done to you, the investor.

There still are a few high quality ICO project, but good research is crucial.

Vishnu.Reang

sr. member

Activity: 1988

Merit: 453

The most logical thing to do under such circumstances is to stay away from the ICOs. As per the latest analysis, more than 95% of the ICOs which are getting listed nowadays either turn out to be scams, or fail to achieve the soft-cap. So why take your chances when the probability of getting a positive ROI is so low? I would just stay out of all ICOs until the situation gets better.

Tomcolor

member

Activity: 665

Merit: 10

SOL.BIOKRIPT.COM

This is sad moment for everyone investors because in year 2018 and 2019 many scam ico and death coins we doing face. Infact i can say my two friends history their get many loss for fake ico and death coins.

Topic: SCAM ICOs, what we can do? - page 12. (Read 7295 times)