Topic: Scams in a row ... (Read 2849 times)

Indeed, and there's also the mega-whales (Satoshi-dumps) risks and the 51%-attack risk. Even without any of that bitcoin has been behaving like just another pump-and-dump altcoin in the markets this year. The adoption curve looks pathetic if you compare it to the early adoption curves/trends of Facebook, Apple and other new tech launches. Mainstream folks aren't really using bitcoin.

Remember that talk of ETF/Winklevoss $10K per BTC - seems quite far fetched now. All the scams, thefts and now regulation risks have taken a big toll.

If people put a value on something then you just have to roll with the punches because it could make you some dough. Just because the devs make a whole basket of coin from IPOS doesn't mean that it's a scam

I would steer clear of any cut and paste shit coin with an IPO. If it's basically bitcoin with nothing much different besides the logo and name then it has nothing going for it.

There's only one way, only one, in which an ICO, IPO, whatever is NOT a scam: When all the coins are sold to investors OTHER than the developers or their "private investors". Or the ones not sold, destroyed. Demonstrably. As in who owns each and everyone of the twenty (or more) richest list wallets. Otherwise, it is ALWAYS, no exceptions, a scam. By definition and by design.

And even in that scenario, there's still margin to scam: Through mining. Unless it is guaranteed that only a maximum of coins can be mined per day, and that guaranty is kept, you can still be the victim of scam for it is quite possible to mine huge amounts in the first days of a coin if you are adequately informed and prepared for it. The case of SEED is blatant. The case of BYC is just another evidence... peculiarly, in both cases, accepted by at least a small part of the investors, as "normal". Which goes to tell you how twisted the crypto community itself, as a whole, has become.

OP, it has been an expensive and utterly unnecessary lesson. Just stay away from any ICO, IPO, etc. Follow the one's you are interested in closely. Learn to see the reality behind the sock puppet induced kool-aid. Be patient and I guarantee you that you will be able to buy ANY AND ALL coins way below their launching price, I don't care how promising or not the projects are. Jump in only when you feel there's going to be a potential rebound -it's never a sure thing, mind you-, or, for better security, just stay in BTC. You will do MUCH BETTER, short and long term, than investing in any altcoin in which the only absolutely sure thing is that they will be priced in the future much lower than they are in the present. ALL of them.

For, until any of them is actually USED for anything in the real world, all of them are basically speculative scams.

Well, if you really believe dumping 900BTC gonna lower the price.... then I praise you, my lord

Define scam?

Ive seen the word used a number of times inappropriately. Now I really dont know anything about those coin OP, but Ive seen "scam" applied to a number of coins that are certainly not scams. One thing that everyone should consider, what is really a scam and what is really just a bad investment.

As smoothie said, its best to do your own research. Alt coins (and even BTC) are much like the stock markets in a sense. The older the coin the more trust is should have. Newer coins are more risky, and should be planned appropriately. Just like a newer company in the market should be viewed with scepticism.

At least you got a refund on Cluster. Now take what you learned and make a better choice next time. Buy something that has a proven track record while it is cheap. Sell when it goes up. Rinse and repeat. Or cut your losses and realize crypto world might not be for you. Good luck

Remember to only invest what you can afford to lose.

That sucks, we need to stop people from investing new altcoin and stick with the major one..

Pray and spray and overwhelm with force.. they flood this place with so much fighting it wears us down

i counted 9 topics with scam in the title yesterday in the first page or two here LOL
I almost never even look in the ANN section anymore.. why bother ?

Careful, I suspect some of these scams may be "honey pots".

ive posted some time ago about avoiding scams: http://fuk.io/elite-usb-and-other-scam-coins-whos-responsible-how-to-avoid-other-dumps-and-hidden-premines/

PM'd you...

Erhm... about PayzorGame, he spent more than that but whatever

At the end he became a scam cause he run away. .  And he dumped his coins.

I don't know anything about the other coins, but I can't feel bad for you about this one. Payzor was making ludicrous claims for hype/marketing effect (first crypto-ATM, partnering with Lamassu...). It cost him how much for the game to add more hype? 500PZR? 1000? Since he premined 45,000 (3%!!), that was nothing for him. And it kept the hype going while he slowly dumped his coins on the market.



It is a scam. Check the explorer. Dev finished dumping his 45,000PZR the same day he said he won't do the ATM and disappeared.

and there are still people investing in that crap? are they retarded? just suck poppets i guess

There were more than 3 consecutive scam coin IPO just not too long ago. Each IPO raised around 300 btc, so a total of around 900 btc went in to the hand of scammers.

This could also explain the price dropped on btc, since the scammers need to sell to cash it out.

Exchanges like bittrex should be more careful now. They need to verify all claims by dev before any ICO or take some security money a guarantee.

Sorry to break the news, but there is absolutely nothing guaranteed about bitcoin. It could drop back down easily, all it would take would be for the huge ASIC miners to sell the BTC they've mined (and stashed) in their efforts to manage the markets and pump the price. Apologies if this is a shock to you.