Topic: Solution to avoid SCAM ICO!! (Read 249 times)

Indeed! What is NeuronChain up to?

agreed 120%, research is the key, if you want to make money, only investing some money wont help, you have to invest your time for dd

most of the times, scam ICO's have plenty of $ to trow away for marketing, this is bad point tbh

I agree with that. That would make a great foundation. A working product would mean they can carry the project to success.

Good solutions you got there! Aside from a credible and highly-experienced team, an ICO with an already working product is a great sign also. What do you think?

I literally just tried to follow these 3 steps and they were absolutely not helpful at all.

1. Some project use agencies to get their websites built and therefore the name of an agency or company is listed instead of a person's name. Also, some domains allow for private registry so you can avoid having your personal info our there for every weirdo to just look you up.
2. I had better luck just googling the person's name and country that I took from their website or white paper than using either one of the tools you listed. The pipl.com returned with no matches and the photo one was very inaccurate.
3. I have no idea what I'm looking for that will help me identify bots with this site.

What I suggest instead is doing real research that requires more than 5 minutes and 4 websites.

The reason why so many people got burned during the ICO boom last year was due to greed. Most people just heard stories of others getting 100x their investment and got greedy and lazy so they just followed what others were telling them to do. That's just dumb.

At the end of the day, investing in ICOs is the same exact thing as investing in traditional startups. Most angels and VC's know that even when you do your due diligence, you're going to have a couple of winners and you will have mostly losing investments because that's how business works. 90% of new business fail during the first year. What that means is that if you invest on 10 ICOs/startups, 9 of them will make you lose all your money and if you're lucky, one of them will make you enough money to recuperate your losses and then some. This doesn't mean 9 of them were scams! This just means that business is tough.

There's a reason why you have to be an accredited investor in order to be able to invest your OWN money. You have to meet a certain level of liquidity and prove that you know what the hell you're doing when it comes to investing. This is so that when you lose it all, you're not in the streets crying to everyone about how "all these startups are scams" and they just wanted to take your money... Boo Hoo!

Now, when you look at the type of people who were investing in ICOs last year, most of them were a bunch of greedy people who thought they could get rich with crypto. Well, guess what? When you have no experience investing in anything and you still do, you can't be surprised when you lose it all.

That said, there are plenty of ICOs worth looking at and considering investing in. You just have to actually do so damn work in order to find the good ones. Use common sense, be patient and do a TON of research. If you think you've done enough research, do some more.

Rant over! Sorry!

Agreed.
Personally, I prefer to participate in campaigns that lead by the teams with experience and who have a reputation here on the forum.
Participation in scam campaigns will not bring you any money and can negatively affect your trust level.

just a question, with regards to a marketing bot, how do you determine based on this fact that they are a scam?

Don't trust any token/coin that is newly created right away, that is why the people in world of cryptocurrency should be aware of the disadvantage and advantage of an ICO. I'm sure you know that there are teams that are well known especially in bitcointalk with their successful ICOs.

Make a simple check:

1-Check the domain: http://whois.domaintools.com
If there no real contact or human, why you want to trust your money this guys?

2-Check the team:
(Use https://pipl.com or https://pimeyes.com/en/ this page using pics to find the person on internet)

3-Check for marketing bots:
https://socialblade.com

Only this 3 checks will take 5 minutes to see, is a ICO an SCAM

ligth crypto!

or the best of them all..

6. Don't invest in ICOs in the first place.

You are throwing away your money in projects that mostly are too ambitious, and has a low chance of actually succeeding. Not to mention most of the problems they're trying to solve doesn't even require a blockchain in the first place. They're just throwing around the "blockchain" and "decentralized" keywords for the ignorant and greedy people to throw money at them.

The most common problem that keeps repeating in cryptocurrency is the SCAM ICO. Many investors became victims in this schemes and blamed the outside party like SECS and other team protecting cryptocurrency. But we can't blame everything to them.

Infact the overall solution will start with knowledge and awareness.

1. Investment needs a thorough research.
2. Keep in mind that not everything you see is true.
3. Always consider that the product must be Sustainable, Measurable, Attainable, Realistic and Time Bounded.
4. Avoid investing ICO with a poor marketing strategy and funding.
5. Validate it in team or other investors to have more ideas to be consider.


Goodluck! Hope this one will help.