Topic: Scam Projects and Bounty . Way forward?? - page 19. (Read 4489 times)
The Cryptocurrency space isn't yet as regulated as it should be and as long as it keeps being the wild west, there is absolutely nothing anybody can do about it, ofcourse bounty hunters could protest against any campaign that doesn't pay them but some project owners just don't care once the fundraising stage has been completed.
The activities of ICOs are not yet practically regulated by states. Considering that everyone is allowed to raise funds and create their own tokens, in fact there is no proper control over the identity of the ICO team members, and the amount of fundraising is large and sometimes reaches millions of dollars, this attracts a lot of scammers from around the world. We ourselves can do very little to hinder the activities of such scammers. Only state regulation of this type of activity can solve this problem. If the authorized state bodies will check the members of the ICO team, register them and exercise at least general control over their financial activities, then fraud in ICO projects can practically disappear.
So far this year , a lot of scams have occurred in the crypto sphere ranging from projects scamming investors and as well as projects not paying hunters for their works.
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
i think the only counter is knowledge
as once you become knowledgeable about cryptocurrencies and the current technologies and what can and can't be currently done
you never fall for scams, they all become super ovbious.
People just need to gain more knowledge in crypto, and NEVER invest in something you dont fully understand
The effective way of avoiding scam projects is getting smart, be strict with every projects that claim they have something to offer investors, do thorough research before making decisions and do not invest more than you can afford to lose
no one is ready to lose money. I have not met people who can easily say that they are ready to lose some amount of money. they simply evaluate the risks of loss and each of us must also make a risk assessment
can't fight scams it's just that we have to avoid scam projects. so far many scams through ICO there have been many people fooled by ICO. I think we should leave ICO. Then don't invest with low-volume coins that are very dangerous there are lots of low volume coins left by the developer
You made a very relevant point here, most scam come from ICO which disappear after token sale. But also, there are some listed coins forgotten by the team members usually with very low volume (I'm not saying all coins trading at low volumes are scam either). We just have to be wise, do not invest in any coin because others are investing or because you think it will give you huge profit. Invest in a project because you've done proper research and believe in their vision and also because you've made up your mind to take the risk without blaming anyone if it turns out scam. 
The effective way of avoiding scam projects is getting smart, be strict with every projects that claim they have something to offer investors, do thorough research before making decisions and do not invest more than you can afford to lose
no one is ready to lose money. I have not met people who can easily say that they are ready to lose some amount of money. they simply evaluate the risks of loss and each of us must also make a risk assessment
The effective way of avoiding scam projects is getting smart, be strict with every projects that claim they have something to offer investors, do thorough research before making decisions and do not invest more than you can afford to lose
Nothing can't be done to counter scam projects. The best solution is never to invest huge amount of money in any project, no matter how promising the project seems to be. So as when the project didn't meet up with her expectation or end up been a scam project, you won't feel so much hurting about it. It's a terrible feeling to be scammed at the end
A lot of fraud on behalf of the ICO. Their project is made as real as possible until it seems that the project is tangible and ends up blurry and the project is dead.
Many investors are now afraid of buying new coins out and prefer to follow the safer IEO or buy bitcoins for long-term.
Usually projects that do not pay the job of hunters because from the beginning already no intention to create a project and end up dying.
Many investors are now afraid of buying new coins out and prefer to follow the safer IEO or buy bitcoins for long-term.
Usually projects that do not pay the job of hunters because from the beginning already no intention to create a project and end up dying.
They continue to fight in the crypto space and work according to the rules, it is difficult for us to distinguish between fraudulent and scammers, we as bounty members can judge for themselves and know which managers or teams are already involved in fraudulent projects, don't follow them again, follow dev experienced and have positive beliefs clear and transparent in all information
Agree, now there are some managers who are promoting the scam bounties, even sometimes it is impossible for them to find the company activities. Every manager is already faced with this type of situation in the market and it is impossible for us to neglect them because maybe in future they may find a good company with the experience he has now.
It is very difficult to differentiate scam projects after they have many members and post them on social media, so at this time I still choose bounties managed by experienced managers, because now many new projects have deceived many managers and developers usually delay distribution of tokens for many years for many reasons, I don't think they distributed tokens because they were afraid of dumps in the market.
Both scam projects and scam hunters are to blame for this... bounty hunters should demand more assurances like for example escrow budget, or KYC from the team when they require ours, etc...
and projects should have good bounty managers that take care of all those people playing bounty that do a very bad job
Both need to evolve in order for things to get better
Nowadays, I am checking the projects so much that I end up not participating in lmost anything... but it is better than be scammed in a lot of projects
and projects should have good bounty managers that take care of all those people playing bounty that do a very bad job
Both need to evolve in order for things to get better
Nowadays, I am checking the projects so much that I end up not participating in lmost anything... but it is better than be scammed in a lot of projects
So far this year , a lot of scams have occurred in the crypto sphere ranging from projects scamming investors and as well as projects not paying hunters for their works.
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
It is almost impossible to regulate the projects that pops out because of course crypto is mostly decentralized. The only thing we can do to determine whether the project is a scam or not, is by researching about it, the developers team, the owner and other vital background. Knowing this wouldn't be enough to absolutely ensure your investment will succeed tho. It's always a risk that you have to take because in this industry even "guarantees" are not free.
The way forward to these scam projects and their bounty programs is to perform a personal research on them in order to identify the right projects from the fake ones. Since there is no regulations or set bodies responsible for running checks on projects to eliminate the fake ones, investors and bounty hunters must do their own researches.
So far this year , a lot of scams have occurred in the crypto sphere ranging from projects scamming investors and as well as projects not paying hunters for their works.
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
It would have really been awesome if there is a perfect way to identify scam projects. But for now, there is no way possible to know which project will pay or not or which investment will really worth it. But this should not be a reason for investors to be discouraged. Even in life, we are faced with several challenges, yet we move on. Cryptocurrency shouldnt be an exception. So, I will advice investors to invest wisely and not be discouraged by a past challenge of falling into the hands of scammers. Regardless of how many scam projects out there, there are still very good projects that worth the time, resource and energy anyone can put into it.
It is not just a question of which project will pay, it is more about which project is honest and genuine, if a project is honest and genuine even if it takes time to achieve a result is more better than having a dishonest project that will give false hope to investors just to take advantage of them.
Probably majority are viewing success from a short term perspective hence the reason why the zeal to invest is low, this is no longer 2017 where the market was very bullish, this time, real hardwork and dedication on the part of the team is required to keep project alive, also a use case that will give value to the token, otherwise the price will not increase, and to achieve these goals will take time which many people are not willing to give,
If you are looking for a get rich quick kind of project, you may likely fall into the wrong hands.
Don't invest. That will be the best counter because if there will be no investor and all will rely on the established market, I don't think that these scammers will keep on making new projects to scam.
And this isn't just for this year, last year was also a bad year for most because many scams have been made.
The crypto market already has fewer investors nowadays. Most of the projects are not gaining the softcap, even good projects are suffering to make it up! At least we should support good IEO projects. Otherwise, the crypto market potential won't be increased anymore! We should do counter to the scam ICO, not every startup project!And this isn't just for this year, last year was also a bad year for most because many scams have been made.
They don't want to fall into another scam project that's why they assure to not invest with them anymore.
But I do agree that investors should not stop their investment in the startup project because if this will happen, we won't be having a potential coin to be released in the future. It means that we are trying to stop the development of the market and the cryptocurrency.
Don't invest. That will be the best counter because if there will be no investor and all will rely on the established market, I don't think that these scammers will keep on making new projects to scam.
And this isn't just for this year, last year was also a bad year for most because many scams have been made.
The crypto market already has fewer investors nowadays. Most of the projects are not gaining the softcap, even good projects are suffering to make it up! At least we should support good IEO projects. Otherwise, the crypto market potential won't be increased anymore! We should do counter to the scam ICO, not every startup project!And this isn't just for this year, last year was also a bad year for most because many scams have been made.
They don't want to fall into another scam project that's why they assure to not invest with them anymore.
So far this year , a lot of scams have occurred in the crypto sphere ranging from projects scamming investors and as well as projects not paying hunters for their works.
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
It would have really been awesome if there is a perfect way to identify scam projects. But for now, there is no way possible to know which project will pay or not or which investment will really worth it. But this should not be a reason for investors to be discouraged. Even in life, we are faced with several challenges, yet we move on. Cryptocurrency shouldnt be an exception. So, I will advice investors to invest wisely and not be discouraged by a past challenge of falling into the hands of scammers. Regardless of how many scam projects out there, there are still very good projects that worth the time, resource and energy anyone can put into it.
So far this year , a lot of scams have occurred in the crypto sphere ranging from projects scamming investors and as well as projects not paying hunters for their works.
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
What do you think can be done to counter this ill manner behaviors that has been painting cryptocurency bad?
With all things been said here , I think it all comes down to gaining proper knowledge about this sphere in order to deduce which project is legit and which is not. Also individuals must not be too greedy about sweet but scam project , learn to back out once to learn or find out that the project is spooky.
Furthermore, learning how to dissect and thoroughly analyse whitepapers of project will go a long way in not falling for trap as this will give for site of what the team envisioned about their project.
Then we must learn how to not give attention to projects that are not actively promoting their own projects as well as don't give answer to questions whenever they are asked.
Before you jump on a project, ensure they have a good roadmap and the team is a credible one. Going through the thread , I think this will be a sweetener as witcher_sense compiled some list of scam projects with the link to accusation and reason for accusation.
Link
https://bitcointalksearch.org/topic/90-witchersense-5153235
Updated Link
https://bitcointalksearch.org/topic/100-scammers-exposed-scam-list-by-witchersense-5143166
This happens will depends on our mind which project we will choice for invest, this right point lot of scam project still running everytime and we can't stop yet. But if we have good skills for searching a trust project then this is possible for avoid scam project.
when choosing an investment is difficult because doing research not everyone will be able to do it. so I think it's better to learn when you become a bounty campaign participant to choose a project and that experience can be used for you when you have funds for investment. therefore use the opportunity to look for experiences when you are still a bounty campaign participant, because the one who can determine your investment is yourself
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