There is a risk that bears with bounties that requires KYC too. It can be just part of their act and they really are into collection of information of their people that's why some are receiving unusual emails and don't know where it came from containing advertisement of another ICO.
The identities also can be sold on the other markets probably the dark/deep, I don't know the whole idea about that but it's something like that.
Topic: some of the points and problems that have occurred in the crypto industry. - page 2. (Read 514 times)
October 15, 2019, 04:02:51 PM
October 15, 2019, 03:17:14 PM
That's why when you are in the crypto industry hunting for new ICOs as a trader you must practice an added precaution when it come to participating and buying a piece of their projects. Because unlike a stock exchange where the SEC does the background checking for the user, you really don't have that kind of privilege in this market since literally anyone can create their own project overnight. If regulation isn't enough then your only real way to avoid this scam projects is by doing the background checks yourself or listen to what others are saying and try to eliminate shilling from real feedbacks. Aside from that we also have the trust system working for us and if you see the ANN poster has a red tag then you can easily where the tag came from by clicking "trust", several DT members are looking at ANN threads closely cleaning up the ANN section.
October 15, 2019, 03:09:04 PM
KYC is no longer a powerful weapon to overcome it all, even I feel if like a live video call it could be a show or someone who has been paid by the team to play like the real team.
October 15, 2019, 12:12:45 PM
I agree with all of your points and all of them are spot on, for example like with regulation unable to eliminate the scammers completely, relying on regulation to solve this issue is delusional. There is no way we could fix this and the only way to reduce it is by doing research about everything we want to do.
and I experienced it by myself about number 4, I involved with a project that has its own product and can be considered as a quality product because they got a prize in some event before. But the project they started out did not work well, they are only focusing on what they are doing and do not really care about the investor and their community. Causing the community to panic and feel helpless, crypto is in a bad shape right now.
not only because of scammers but the project itself makes crypto looks so terribly bad.
Yes, other problems besides scamers can also be caused by project developers themselves, such as developers who are inexperienced or have no expertise in this field mismanaging projects or percentages between product marketing and how to attract market investment. especially new projects managed by the company itself. and I experienced it by myself about number 4, I involved with a project that has its own product and can be considered as a quality product because they got a prize in some event before. But the project they started out did not work well, they are only focusing on what they are doing and do not really care about the investor and their community. Causing the community to panic and feel helpless, crypto is in a bad shape right now.
not only because of scammers but the project itself makes crypto looks so terribly bad.
October 15, 2019, 09:02:19 AM
These problems have long been known. As for multi-accounts, company managers must do their job correctly and well in order to weed out honest participants.
The main problem of the market is the difficulty in raising funds, price volatility due to high volatility, which does not allow new money to flow into the market.
Projects creating the next useless coins do not live long.
Yes the problem does exist, but the difficulty is created by the developers themselves in the sense that they do not have good product marketing for the market. I often see how teams who are not experts in their fields rush to develop products as soon as possible, even though the funds that have been collected have reached the specified stage and the second problem is registering coins in shady exchanges. The main problem of the market is the difficulty in raising funds, price volatility due to high volatility, which does not allow new money to flow into the market.
Projects creating the next useless coins do not live long.
October 15, 2019, 07:32:25 AM
My only fear is if we give SEC control it could be damaging to some part of the space, eg. SEC doesnt like ICO at all and we could see a clear picture of it with Telegram project.
October 15, 2019, 07:21:13 AM
KYC can easily be faked these days whether it maybe users or team developers. No one must take their investment decision solely based on KYC results. For bounty hunters it is a tideous task. They are not investing anything and they are not customers so there is really no need of KYC for them.
But KYC is the only way to redeem some coins earned by bounty hunters. They have no choice at all but to comply. For sure they are not customers but since they will be among those to whom the tokens are going to be distributed, they are also treated as customers or token owners.
October 15, 2019, 06:51:51 AM
never invest your money in the wrong place or as easily as when you sell investments at high prices. Scamers are always everywhere & they are like crocodiles waiting for their prey.
1. regulations are not the golden bullet to fight scamers and scamers cannot be eliminated, they are corrupt criminals, they are the biggest problem in the cryptoqurrency industry.
2. KYC The bounty hunter
#. can at least reduce cheating or multi-accounts.
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
3. many new companies run their own programs but generate a lot of scams and junk tokens. and I hate saying allocation cuts when sales end successfully.
4. A quality product is no longer a guarantee of the success of a project, and even good marketing does not mean that it can attract market investment. or maybe this is all influenced by a market situation that is still weak.
and the last point ... I see many famous prize managers engrossed in money, they forget when they get public trust when they first manage a project, they have now misused crypto as a ponzi scheme of getting rich, red trust has become a symbol of their account. I will not depend on the gift manager anymore. What do you think? a few points above the results of my observations so far.
Your first point about crypto regulations can't stop scammers makes sense but with regulations in crypto space scammers will still have something they are afraid of at least, still better than nothing, its just like the real world, if their is no cops and police crime rate will increase more 1. regulations are not the golden bullet to fight scamers and scamers cannot be eliminated, they are corrupt criminals, they are the biggest problem in the cryptoqurrency industry.
2. KYC The bounty hunter
#. can at least reduce cheating or multi-accounts.
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
3. many new companies run their own programs but generate a lot of scams and junk tokens. and I hate saying allocation cuts when sales end successfully.
4. A quality product is no longer a guarantee of the success of a project, and even good marketing does not mean that it can attract market investment. or maybe this is all influenced by a market situation that is still weak.
and the last point ... I see many famous prize managers engrossed in money, they forget when they get public trust when they first manage a project, they have now misused crypto as a ponzi scheme of getting rich, red trust has become a symbol of their account. I will not depend on the gift manager anymore. What do you think? a few points above the results of my observations so far.
October 15, 2019, 06:37:11 AM
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
Yeah. At least, it can lessen the percentage although even there will be a KYC for each member and developer that's involved with the project, they don't care with that as long as they can pursue their personal interest of scamming the people.#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
But it's a good way to determine if the project is reliable. If you see someone part of the team and you're familiar with his shady involve with different projects, that's the sign that you should avoid it.
yes, shady projects are often considered as criteria of fraud projects but not only that because there are still many types of fraud that occur in the crypto industry, it is quite difficult to distinguish them, even if it is a transparent or reputable team and even through the KYC Process as well does not guarantee that the project is successful.
October 15, 2019, 05:57:56 AM
KYC can easily be faked these days whether it maybe users or team developers. No one must take their investment decision solely based on KYC results. For bounty hunters it is a tideous task. They are not investing anything and they are not customers so there is really no need of KYC for them.
KYC should be 5 sec video and saying the required words to be accepted, maybe the project team needs more storage to store the videos, but it really reduce the existance of fake KYC and it will make the crypto environtment keep healthy from fake users and bots
October 15, 2019, 05:52:58 AM
4. A quality product is no longer a guarantee of the success of a project, and even good marketing does not mean that it can attract market investment. or maybe this is all influenced by a market situation that is still weak.
October 14, 2019, 05:46:34 PM
I think the main problem is I see in the space and many people are not talking that much about it, is the issue of over valuation by the IEO/ICO developers, most of these projects IMO do not need more than 45 million USD, if Stratis, IOTA and many more projects only raise few millions and their project end up in several millions in MCAP, then something fundamental need to change
October 14, 2019, 04:26:04 PM
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
Yeah. At least, it can lessen the percentage although even there will be a KYC for each member and developer that's involved with the project, they don't care with that as long as they can pursue their personal interest of scamming the people.#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
But it's a good way to determine if the project is reliable. If you see someone part of the team and you're familiar with his shady involve with different projects, that's the sign that you should avoid it.
October 14, 2019, 04:01:03 PM
These problems have long been known. As for multi-accounts, company managers must do their job correctly and well in order to weed out honest participants.
The main problem of the market is the difficulty in raising funds, price volatility due to high volatility, which does not allow new money to flow into the market.
Projects creating the next useless coins do not live long.
The main problem of the market is the difficulty in raising funds, price volatility due to high volatility, which does not allow new money to flow into the market.
Projects creating the next useless coins do not live long.
Difficulty in raising fund might be reduced if we are going to take into considerations, the trust of the platform where the investment is normally taking place. Basically, if the investment platform such as ICO, IEO, and many other's have a huge trust issues, less and less investment will come in and as a result, project will not gonna be able to raise their amount to run the project smoothly in the market.
October 14, 2019, 02:54:23 PM
Do we just fold our hands and watch all our investment die because we dont know what to do now. This doesnt look like a constructive argument except you are a bitcoin maximalist, the lone party rocker. They cant say they didnt benefit from altcoin even more from ICOs and its scams. Regulation may not be the perfect control for scam but it could be our best option for now, It will improve as the loop holes are exposed, just like every countries law have loop hole and it is regularly amended, so will this regulation. except you think the regulation will work against you.
but isn't the crypto market not regulated by anyone and can't be matched with real-life law? then how do you start crypto regulations, and who starts doing it and is also responsible if there are pros & cons or the public doesn't approve?
October 14, 2019, 02:46:24 PM
never invest your money in the wrong place or as easily as when you sell investments at high prices. Scamers are always everywhere & they are like crocodiles waiting for their prey.
1. regulations are not the golden bullet to fight scamers and scamers cannot be eliminated, they are corrupt criminals, they are the biggest problem in the cryptoqurrency industry.
2. KYC The bounty hunter
#. can at least reduce cheating or multi-accounts.
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
3. many new companies run their own programs but generate a lot of scams and junk tokens. and I hate saying allocation cuts when sales end successfully.
4. A quality product is no longer a guarantee of the success of a project, and even good marketing does not mean that it can attract market investment. or maybe this is all influenced by a market situation that is still weak.
and the last point ... I see many famous prize managers engrossed in money, they forget when they get public trust when they first manage a project, they have now misused crypto as a ponzi scheme of getting rich, red trust has become a symbol of their account. I will not depend on the gift manager anymore. What do you think? a few points above the results of my observations so far.
yes. that right.1. regulations are not the golden bullet to fight scamers and scamers cannot be eliminated, they are corrupt criminals, they are the biggest problem in the cryptoqurrency industry.
2. KYC The bounty hunter
#. can at least reduce cheating or multi-accounts.
The KYC team & developers
#. can at least reduce a few% of the number of fraud projects, this symbolizes a good project if their team is solid, transparent and responsible.
3. many new companies run their own programs but generate a lot of scams and junk tokens. and I hate saying allocation cuts when sales end successfully.
4. A quality product is no longer a guarantee of the success of a project, and even good marketing does not mean that it can attract market investment. or maybe this is all influenced by a market situation that is still weak.
and the last point ... I see many famous prize managers engrossed in money, they forget when they get public trust when they first manage a project, they have now misused crypto as a ponzi scheme of getting rich, red trust has become a symbol of their account. I will not depend on the gift manager anymore. What do you think? a few points above the results of my observations so far.
1. of course that not. the only way to stop for scammers for bounty hunter is stop promote their campaign, if u know that scam project, actually mostly know how to detect scam project or no, huge of reward for example.
2. we know exactly that just useless idea.
3. well, that the worst ever, yes i know some project like that. Vanta for example, the team just piece of shit.
4. probably yes, market condition seems hate with new project.mostly.
October 14, 2019, 02:07:49 PM
KYC can easily be faked these days whether it maybe users or team developers. No one must take their investment decision solely based on KYC results. For bounty hunters it is a tideous task. They are not investing anything and they are not customers so there is really no need of KYC for them.
But KYC is the only way to redeem some coins earned by bounty hunters. They have no choice at all but to comply. For sure they are not customers but since they will be among those to whom the tokens are going to be distributed, they are also treated as customers or token owners.
October 14, 2019, 01:44:22 PM
Do we just fold our hands and watch all our investment die because we dont know what to do now. This doesnt look like a constructive argument except you are a bitcoin maximalist, the lone party rocker. They cant say they didnt benefit from altcoin even more from ICOs and its scams. Regulation may not be the perfect control for scam but it could be our best option for now, It will improve as the loop holes are exposed, just like every countries law have loop hole and it is regularly amended, so will this regulation. except you think the regulation will work against you.
but isn't the crypto market not regulated by anyone and can't be matched with real-life law? then how do you start crypto regulations, and who starts doing it and is also responsible if there are pros & cons or the public doesn't approve?
October 14, 2019, 01:42:33 PM
But KYC is the only way to redeem some coins earned by bounty hunters. They have no choice at all but to comply.
That would be all well and good if the bounty terms stated that it was required up front, but we've seen examples where this isn't the case and it isn't fair. Nor do I think these projects need those documents. They aren't required by regulators AFAIK and there is no need to know who the bounty hunters really are.3. many new companies run their own programs but generate a lot of scams and junk tokens. and I hate saying allocation cuts when sales end successfully.
That about sums up the state of the ICO space. I'm led to believe that there are more scams than legitimate projects based on all the scam accusations I see here. And even if a project isn't a scam, the tokens will more than likely end up worthless and the project will go nowhere. October 14, 2019, 01:29:29 PM
Do we just fold our hands and watch all our investment die because we dont know what to do now. This doesnt look like a constructive argument except you are a bitcoin maximalist, the lone party rocker. They cant say they didnt benefit from altcoin even more from ICOs and its scams. Regulation may not be the perfect control for scam but it could be our best option for now, It will improve as the loop holes are exposed, just like every countries law have loop hole and it is regularly amended, so will this regulation. except you think the regulation will work against you.
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