There's Still Too Many Scams Within The ICO Community...

CryptopreneurBrainboss

legendary

Activity: 2478

Merit: 4341

eXch.cx - Automatic crypto Swap Exchange.

Quote from: wuvdoll on April 28, 2019, 01:28:33 AM

It was expected, after all we all gave away free money to some people without ever really knowing what we would do if they just took the money and leave.

Greediness was just the factor that push so many investors into believing rhe whole ICO madness and now the new trick, projects are using called IEO will even be worst because the assurances of not performing an exit scam is what they're using to promote IEO and many investors don't know we have different type of scam that can still be performed without exit with investors money. This means the moment the IEO hype kicks in fully many investors will still lose funds as greediness again will play a part.

wuvdoll

legendary

Activity: 1442

Merit: 1025

It was expected, after all we all gave away free money to some people without ever really knowing what we would do if they just took the money and leave. Not many of us know those people well neither and some of us don't even know where the ICO was based on so some of them did get their punishment via court but some of them just got away with it which resulted with more and more people scamming in ICO world since they knew there was a chance they would get away with it without having any problems at all.

I really do not think we can stop these scams since they can do it and get away with it but the best way of defense is to research the ICO's very well and react accordingly, IEO's help out a lot in that regard because they do research for you and save you time.

shesheboy

full member

Activity: 714

Merit: 114

Quote from: hongus on April 28, 2019, 12:29:05 AM

To get rid of the scam, we need to choose only serious projects.

but the problem is that its hard to differentiate scams from the legit one's as all of them are seem to be closely simillar to each other . i think the best and last resort to do is to go and check the scam accuse section of this forum . there are lots of good users here and most of them are also reputable . they can check the site and they are giving thier own feedbacks , we can base on those so that we can be aware if what ico is legit and what is not .

hongus

full member

Activity: 736

Merit: 100

Adoption Blockchain e-Commerce to World

To get rid of the scam, we need to choose only serious projects. Site, product and ideal documents. I am sure that 90% of scammers will not be able to do this. I am strict with all the projects now and I try to get the message only those who have really been able to establish themselves in the market.

Caladonian

hero member

Activity: 1302

Merit: 540

Quote from: alexsandria on April 28, 2019, 12:12:28 AM

Quote from: PHDJarrod12 on April 27, 2019, 12:20:14 AM

There's a ton of exit scam ICO's within this community. Anytime a crypto enthusiasts tries to speak up, they are usually silenced by the deceptive company. With Tipestry, you can now comment on any page without the fear of being censored. You can also tip users in crypto if you like what a specific user says. I encourage any of you to start speaking up about companies that are scamming users. Companies are STILL scamming users to this day...if you see something suspicious use Tipestry to expose them to the community.

Tipestry - https://tipestry.com/

As what I've observed on the ICO process and regulations that they are conducting is that, almost many of the talented and skilled persons are getting hired to do such task which is considerably fraud. In that case, I can say, they just missed out the opportunity to be productive because they support negative projects rather than legit one's.

And that's the very reason why scammers are succeeding from this point, hiring people who knows how to do the best so the project will be look as legit as it is, knowing scammers or identifying them is a very tough job as many of them just like what you said, they hired experts so investors will not doubt the capabilities and potentials of such ico projects, time to tighten your ways of selecting project to support.

alexsandria

sr. member

Activity: 896

Merit: 268

★777Coin.com★ Fun BTC Casino!

Quote from: PHDJarrod12 on April 27, 2019, 12:20:14 AM

There's a ton of exit scam ICO's within this community. Anytime a crypto enthusiasts tries to speak up, they are usually silenced by the deceptive company. With Tipestry, you can now comment on any page without the fear of being censored. You can also tip users in crypto if you like what a specific user says. I encourage any of you to start speaking up about companies that are scamming users. Companies are STILL scamming users to this day...if you see something suspicious use Tipestry to expose them to the community.

Tipestry - https://tipestry.com/

As what I've observed on the ICO process and regulations that they are conducting is that, almost many of the talented and skilled persons are getting hired to do such task which is considerably fraud. In that case, I can say, they just missed out the opportunity to be productive because they support negative projects rather than legit one's.

8rch7

sr. member

Activity: 1344

Merit: 459

yes, very many ICOs are scam, it is very difficult to determine whether an ICO is scam or not. sometimes it looks good, ICO has succeeded in reaching hardcap, but finally scam, there is no update about project development.

Snaic

full member

Activity: 658

Merit: 102

Quote from: PHDJarrod12 on April 27, 2019, 12:20:14 AM

There's a ton of exit scam ICO's within this community. Anytime a crypto enthusiasts tries to speak up, they are usually silenced by the deceptive company. With Tipestry, you can now comment on any page without the fear of being censored. You can also tip users in crypto if you like what a specific user says. I encourage any of you to start speaking up about companies that are scamming users. Companies are STILL scamming users to this day...if you see something suspicious use Tipestry to expose them to the community.

Tipestry - https://tipestry.com/

Despite. that there is a similar section on this forum, I think that another site that will collect and share information about fraudulent ICO projects will not hurt us. While the activity of the ICO is not regulated, this is very useful information so that we are less deceived by the fraudulent ICO projects. I think that after the ICO will be regulated by the authorized state bodies, the fraud will disappear and the activity of the ICO will regain its popularity.

cchub

full member

Activity: 560

Merit: 101

Migranet ITO

Quote from: PHDJarrod12 on April 27, 2019, 12:20:14 AM

There's a ton of exit scam ICO's within this community. Anytime a crypto enthusiasts tries to speak up, they are usually silenced by the deceptive company. With Tipestry, you can now comment on any page without the fear of being censored. You can also tip users in crypto if you like what a specific user says. I encourage any of you to start speaking up about companies that are scamming users. Companies are STILL scamming users to this day...if you see something suspicious use Tipestry to expose them to the community.

Tipestry - https://tipestry.com/

Thank you for exposing such scammers. Unfortunately we will never get rid of scammers in crypto. They will reinvent themselves and evolve to more complicated scams.

Adriano2010

hero member

Activity: 1414

Merit: 516

Indeed there is a lot of scam and crypto even if we talk about ICO or any other sites who try to scam people and run away with people crypto coins, and i think this affect the price somehow, but i wish more and more people do research and not invest on first project they see.

Bitmagister

member

Activity: 94

Merit: 19

Undoubtedly, we must be very cautious before the impostors who still believe that the current investor continues to be as naive as they were previously, when the desire for quick and easy profits caused many fraudsters to earn millions. But I think the business is running out, and fewer and fewer unsuspecting people are still willing to invest their money in those unsustainable schemes.

Kang Bahar

full member

Activity: 504

Merit: 115

Silent Reader~

Yep. Day by day, more and more scam ICO's have sprung up, and these fraudulent crimes will continue to emerge. Because these scammers always have a way and there are many ways for deceiving investors and us.

Chika08

jr. member

Activity: 544

Merit: 1

There have been many of them for quite a long time now which have scared investors away and that iswhy many have turned to IEO as its better option because of the trust they believe that it will restore to the blockchain community

givary

jr. member

Activity: 378

Merit: 1

I think that all depends on how you determine the ICO project. Some ICO projects that I participated in were successful and of course, I was very happy. ICO fraud is indeed very troubling but does not make me give up on continuing to join the ICO.

Yahiris

jr. member

Activity: 196

Merit: 1

Quote from: Tondya on April 27, 2019, 04:39:05 AM

Scam is present in all spheres, cryptocurrencies are no exception. A thorough analysis of the projects partially helps to cope with scam.

But in the sphere of ICO, as far as I'm concerned, there are more scammers than in any other sphere, because scammers now create projects, collect money and hide

Mwhitlatch

newbie

Activity: 28

Merit: 0

Quote from: btc_angela on April 27, 2019, 03:16:52 AM

And what will Tipestry do besides exposing them? We have a Scam accusations board here wherein people can put their accusations with proof and then the community will decide if it is indeed a scummy project. That's why if you are a newbie here, it's better to check that board first before investing. Here is the board, https://bitcointalk.org/index.php?board=83.0.

As a Tipestry user I can say whenever someone does quality comprehensive commenting that could be theoretically exposing things similiar to Bitcointalk I tip them crypto like Dogecoin or a small amount of ETH. So it is definitely helpful. I've made several thousand Doge by posting stuff as well.

Its less a exclusive forum and more of an addition to the browsing experience.
For example:
*browsing the internets cryptoverse*
*stumbles upon new ICO*
*investments pouring in, softcap reached, looking revolutionary*
*presses the tipestry extension button, see's someone commented on the ICOs website*
*its a bunch of evidence that its a total fuckin sham*

"Wow thanks random dude heres a dollar of doge[Suspicious link removed]d chap"

Seem feasible?

waynechong1995

full member

Activity: 644

Merit: 117

swing!

Hard to genuinely identify a scam ICO, okay first things the white paper must be good but its too early if one is written professional but in the end still exited. ICO nowdays are managed differently by third party that handles KYC and other stuff, still i'm not sure whenever the investor funds are es-crowed in case there's exit scam. there should be less clue too as marketing team are always good at managing people. ICO from me is really dying as IEO is taking over the big screen, soon scammer would lose interest and move on to another scam

tsaroz

legendary

Activity: 3150

Merit: 1069

There's always scams where money is involved. It's upto the investors to decide where to invest their money.
ICO's are not that sure profit scheme they were in the early 2017. For any investment to get profit, the business they fund should be profitable.
Startups issuing ICOs can't just make money out of thin air. Only the well planned projects with dedicated team and with a profitable market would yield a profit.

Tondya

full member

Activity: 546

Merit: 100

Stake & Vote or Become a IoTeX Delegate!

Scam is present in all spheres, cryptocurrencies are no exception. A thorough analysis of the projects partially helps to cope with scam.

joseyphil82

member

Activity: 742

Merit: 16

There is one thing crypto world has thought me and that's don't ever join ICO that has no reason to be released, the product they trying to offer won't work, if you noticed this just walk away, many bounty hunters are promoting scam projects because of higher rewards. Dyor very well

Topic: There's Still Too Many Scams Within The ICO Community... (Read 204 times)