Topic: [Survey] Define Scam (Read 458 times)
legendary
Activity: 1680
Merit: 1010
Professional Native Greek Translator (2000+ done)
scam is taking something away by force that is not yours...
A scam is a confidence game or other fraudulent scheme, especially for making a quick profit. A few examples:
- Newbie no collateral loan
- PONZI
- Cloud Mining Scheme
In terms of altcoins, a scam is:
- Cloned coins(only changing a name and logo)
- No escrowed ICO
- Coins with no purpose or innovation
- Centralized
- YoBit as only exchange
- Newbie no collateral loan
- PONZI
- Cloud Mining Scheme
In terms of altcoins, a scam is:
- Cloned coins(only changing a name and logo)
- No escrowed ICO
- Coins with no purpose or innovation
- Centralized
- YoBit as only exchange
scams seem to come in several varieties. here are two that seem pretty common:
1. Plan, program, company, person soliciting money or property with the intent to deceive the person transferring the money or property.
2. Plan, program, company, person soliciting money or property w/ legit intentions, which get abandoned or tainted due to more than simple negligence (e.g., gross negligence/willful and wanton behavior - like ignoring obvious problems brought to your attention, failing to do X which is supremely important to achieving goals such as reviewing code).
Not a scam, but certainly not good:
breaching agreements, project failure. In other words, "scam," as a word, has built in ethical judgment. A person etc is not bad or unethical simply because of failing to meet a previously stated goal.
1. Plan, program, company, person soliciting money or property with the intent to deceive the person transferring the money or property.
2. Plan, program, company, person soliciting money or property w/ legit intentions, which get abandoned or tainted due to more than simple negligence (e.g., gross negligence/willful and wanton behavior - like ignoring obvious problems brought to your attention, failing to do X which is supremely important to achieving goals such as reviewing code).
Not a scam, but certainly not good:
breaching agreements, project failure. In other words, "scam," as a word, has built in ethical judgment. A person etc is not bad or unethical simply because of failing to meet a previously stated goal.
Failure to deliver promises as defined in technical specifications of the project due to ill intent, lack of trying.
For those outside of crypto-land... market manipulation alone would put every single coin into the scam category, including btc.
For those playing here, it's usually much more simple: if a person loses money on a coin, it's a scam.
Personally, I figure every coin will be manipulated, every dev has an ulterior motive, and it's just a risk-reward game trying to determine which coin may be the least shady.
For those playing here, it's usually much more simple: if a person loses money on a coin, it's a scam.
Personally, I figure every coin will be manipulated, every dev has an ulterior motive, and it's just a risk-reward game trying to determine which coin may be the least shady.
Just an attempt to gain something at the expense of someone else while giving nothing or way too little in return.
and obviously I am one too
and obviously I am one too
A scam is when the dev gets coins for doing nothing in the genesisblock or when he has the opportunity to buy his own ico.
There are other scams (insider mining, flashmining, stealth mining, abandoning immediately) aswell but ~70% to 90% of occuring scams are like this.
It's basically centered around the dev (and his buddies) aquiring coins with little to no effort to dump it on the market and then abandon it.
Things like a lot of newbies on the thread or strangely immediate community interest despite being nothing special are red flags too. (use of sockpuppets to create illusion of interest)
There are alot of possible scams. Basically when the dev tries to extract money from the market very early on it's almost certainly a scam.
There are other scams (insider mining, flashmining, stealth mining, abandoning immediately) aswell but ~70% to 90% of occuring scams are like this.
It's basically centered around the dev (and his buddies) aquiring coins with little to no effort to dump it on the market and then abandon it.
Things like a lot of newbies on the thread or strangely immediate community interest despite being nothing special are red flags too. (use of sockpuppets to create illusion of interest)
There are alot of possible scams. Basically when the dev tries to extract money from the market very early on it's almost certainly a scam.
Hmm that was well said !
I plan on laying low on this to get feedback hopefully (if people post here)
Ya never know what people will comment on here.. this might get ignored LOL
Don't worry about the drama guys just post what ya want to say.
Everyone is 100% entitled to their opinion.
And if you took the time to post then thank you.
(hopefully the result here will be interesting)
I plan on laying low on this to get feedback hopefully (if people post here)
Ya never know what people will comment on here.. this might get ignored LOL
Don't worry about the drama guys just post what ya want to say.
Everyone is 100% entitled to their opinion.
And if you took the time to post then thank you.
(hopefully the result here will be interesting)
My personal take on it...
Says or implies one thing but does something entirely different.
Does not give a reasonably fair/equal opportunity to all. (not a scam if they admit it is unfair but they must confess and make known to others how unfair it really is - if people still want to partake then that is their choice I suppose.)
Says or implies one thing but does something entirely different.
Does not give a reasonably fair/equal opportunity to all. (not a scam if they admit it is unfair but they must confess and make known to others how unfair it really is - if people still want to partake then that is their choice I suppose.)
NO i am not making this to argue with you all.
I created this topic to survey the people and see what you all think.
I am curious what the consensus would be with the majority is on defining what a scammy coin is.
Although if you all want to argue then go hard LOL
I value the majority's opinion as an indicator on things in crypto.
What do we all think combined people ?
And what i mean here with this topic is..
People post what it is technically that defines a coin as scammy or a scam.
And we do agree that "scammy" is just slightly different than "scam" right ?
If i can get enough useful samples i will try and assemble it and put it into the first post.
Do you all want to share your technical definition ?
I created this topic to survey the people and see what you all think.
I am curious what the consensus would be with the majority is on defining what a scammy coin is.
Although if you all want to argue then go hard LOL
I value the majority's opinion as an indicator on things in crypto.
What do we all think combined people ?
And what i mean here with this topic is..
People post what it is technically that defines a coin as scammy or a scam.
And we do agree that "scammy" is just slightly different than "scam" right ?
If i can get enough useful samples i will try and assemble it and put it into the first post.
Do you all want to share your technical definition ?
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