WARNING! this is very misleading | Bitcointalksearch.org

Masyudhi

sr. member

Activity: 1008

Merit: 250

SmartFi - EARN, LEND & TRADE

Quote from: Stanlo on July 13, 2019, 03:20:47 AM

Please fellas take a minute to look at the image below

Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap,what came to surprise me is some investors depends on this bar to decide whether they will invest or not,they want to be sure that more investors are buying well you might be wrong.

1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.

2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.

3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.

Rely more on your researches,no knowledge is lost and knowledge is indeed powerful.

In my opinion, what you say is very good information. It is true that some projects could fake their bars to attract investors because with the high bar or fundraising almost reaching the hardcap it will make some investors think, this must be a good project because they can raise funds so much that many investors decide to invest in the project without analyzing how the project is. So, in my opinion it all depends on how every investor observes various projects before deciding to invest in the project, so be careful.

cudora

copper member

Activity: 336

Merit: 3

Cryptoknowmics - World's First Decentralized Media

Almost every token sale indicator is fake and it does not matter if it is an exchange website or their own one. The only real way to find out the sales progress is to find smart contract address and to calculate the income on your own.

zenhu

sr. member

Activity: 645

Merit: 266

That why IEO replaced ICO method for initial offering, the team just give fake sales data to the investors which is can make investors interest to buy lot of coin because many people want, more demand for that coin then they think it will be easy to make it profit quickly.

Weng simok

member

Activity: 434

Merit: 10

A bar that is not moving at all cannot be a benchmark if their sales as seen in the bar, it is straightforward to manipulate the results they can achieve so that they will be able to make excuses to deceive investors, I think now investors need information that is accurate and reliable to the results achieved by the ico project during the sale, and we cannot trust claims made unilaterally by the developer without public disclosure of the results achieved. Indeed, investors should be careful about claim projects like this.

Ucy

sr. member

Activity: 2674

Merit: 403

Compare rates on different exchanges & swap.

Quote from: kak uli on September 26, 2019, 06:57:34 PM

a lot of people are fooled just by the status bar that doesn't work according to reality ... they just made an image just to attract investors to invest in their project ... but I never looked at the status bar if I wanted to invest ... I always see various aspects to find out the progress of the project ... so that I don't take part in a project that will scam ..

Anyone can code a statue bar to do whatever they want. There wouldn't be any easy way to publicly verify the amount raised by project developers if they aren't totally transparent about it. Investors should only trust their claims if they provide solid ways to verify the real amount. Blockchain exist to help in the area of transparency and immutablity but some tend to avoid this just to stay in the dark.

jhongzjhong

full member

Activity: 798

Merit: 109

https://bmy.guide

Quote from: Avirunes on September 27, 2019, 12:49:27 PM

I find it very awkward that there are investors who rely on stats generated by investment from other investors. It's same like relying on someone's research. You should do your own research and invest. It is really foolish way to invest. If you are gonna invest like this then better give your money to someone in need ..they will find better use of it.

First, thanks for OP's post that give information to investors and bring awareness to them. That is the first thing to do have research and don't rely upon with stat bar shown. This kind of fooling people is a marketing strategy for them, investors may attract and think that the project has a huge of investors by showing fake stat. There's nothing we can do is just to have a very dip research while looking a good project. I guess 1-2 days investigating the background of the project will be fine at least you will know.

tippytoes

sr. member

Activity: 1988

Merit: 275

Quote from: ganeshramk on September 27, 2019, 03:03:06 AM

Legit projects always post their wallets for public to verify them before they make decisions. Many projects are not doing that. As a investor, we can just ask for that details. This is not wrong also. Project might make deliberate attempt to not giving such information. Then that project should be a miss for me.

If a particular project provides their wallet address along with the stat bar. Now, it means something very positive for the project. They are not hiding anything and are really transparent to their investors. You have to save that project, take a second a look because that project is very rare and might turn into a gem in the future. Very few can be open that much to their clients. Most are just showing their stat bars which can be heavily manipulated and so it is the responsibility of the potential investor to have a deeper study of the project.

Avirunes

legendary

Activity: 3094

Merit: 1472

I find it very awkward that there are investors who rely on stats generated by investment from other investors. It's same like relying on someone's research. You should do your own research and invest. It is really foolish way to invest. If you are gonna invest like this then better give your money to someone in need ..they will find better use of it.

gurunanakji777

full member

Activity: 2184

Merit: 100

SOL.BIOKRIPT.COM

It's quite tough for investors to decide whether they are investing in genuine project or not because one can not rely on the stats provided on projects website sometime it can mislead the investors its always not reliable. Stats sometimes entice the investors and trap them So it's always better to research yourself before investing in any project.

Samayuki

member

Activity: 574

Merit: 24

Quote from: ganeshramk on September 27, 2019, 03:03:06 AM

Legit projects always post their wallets for public to verify them before they make decisions. Many projects are not doing that. As a investor, we can just ask for that details. This is not wrong also. Project might make deliberate attempt to not giving such information. Then that project should be a miss for me.

I agree with you, projects of today always find it hard to come out in the open, they are very secretive and shady, if you ask some questions about how much they've made from a certain sales or try to ask for prove they might block you in the process, every projects needs to be opened to investors, its a good way to gain the people's trust

ganeshramk

full member

Activity: 868

Merit: 104

Legit projects always post their wallets for public to verify them before they make decisions. Many projects are not doing that. As a investor, we can just ask for that details. This is not wrong also. Project might make deliberate attempt to not giving such information. Then that project should be a miss for me.

slaman29

legendary

Activity: 2674

Merit: 1226

Livecasino, 20% cashback, no fuss payouts.

Quote from: bgaf on September 26, 2019, 07:08:10 PM

That's the problem nowadays, the crypto community is easily fool on this kind of information. They can even put hardcap if they want just to impress the community. This is not new actually, but a wise investor should have asked for contract or the address where the funds coming from the sales will be received and we can really see if they have funds displaying from that scale bar which isn't a good basis for investment signal.

Who ever said crypto investors were wise? But this is the thing with this new economy in crypto. Ask for any of that standard information you would 100% expect in a normal investment opportunity or even an IPO and you won't get it.

Billion dollar ICOs or 100s of millions ICOs like Tezos or even like EOS. You think they gave any of that?

SummerBliss

sr. member

Activity: 910

Merit: 254

Quote from: Kezacky on September 27, 2019, 02:26:13 AM

yes you watched well, don't rely on the bar or fundraising display as explained above, I was one of the victims when I first invested in the project, I thought the chart had passed through softcap I thought it was safe but it turned out to be bullshit that the project was displaying the bar is not original & does not reach softcap at all. this is my experience when I was a beginner

Most of the time ICO owners claim that they raised X amount in pre-ICO or pre-sale. Usually, this amount is somewhat more than soft-cap and there is no trace of this amount on-chain too. This has become popular way of serving manipulative data since 2018. Before 2018, the concept of pre-ICO was not common but since 2018, almost every ICO starts with pre-ICO and this is to serve wrong data as highlighted in OP.
This is one of the hundred reason why I no longer trust ICOs and I never invested in one since January 2018. Better to go with listed coins.

judeafante

sr. member

Activity: 2254

Merit: 258

Quote from: Stanlo on July 13, 2019, 03:20:47 AM

Please fellas take a minute to look at the image below

Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap,what came to surprise me is some investors depends on this bar to decide whether they will invest or not,they want to be sure that more investors are buying well you might be wrong.

1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.

2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.

3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.

Rely more on your researches,no knowledge is lost and knowledge is indeed powerful.

This should never be included, as one of the criteria on picking the right coin to invest it is very manipulative, it's just a php script and or a plugin that people can set up, and set the number it's not even in my criteria and I recommend people never choose or even check it always check the potential in the market.

btcmegastar

member

Activity: 700

Merit: 12

Quote from: jorenpo on September 27, 2019, 02:20:51 AM

don't be fooled by just the price bar. ask for the receiving wallet to take a look at yourself.
and also don't just depend on an ICO to take a look if the project is good. read their whitepaper maybe.

Yes, the price bar will be controlled by the admins, so we need to check them through their smart contract how many coins have been sold. Yes, if a project looks good, then it is good to read their white paper because after their crowd sales they should follow their white paper for developments.

Kezacky

member

Activity: 746

Merit: 10

https://axiomapay.com/

yes you watched well, don't rely on the bar or fundraising display as explained above, I was one of the victims when I first invested in the project, I thought the chart had passed through softcap I thought it was safe but it turned out to be bullshit that the project was displaying the bar is not original & does not reach softcap at all. this is my experience when I was a beginner

jorenpo

sr. member

Activity: 630

Merit: 250

don't be fooled by just the price bar. ask for the receiving wallet to take a look at yourself.
and also don't just depend on an ICO to take a look if the project is good. read their whitepaper maybe.

setialovers

member

Activity: 812

Merit: 11

Quote from: ?? on ??

With that picture, i think they want to tell the investors that the project will keep running no matter how much money raised after this.
Many peoples are afraid to invest because their money will be refunded back if the project failed to hit the softcap, but not afraid if they know the project already hit soft cap. so yes, this picture is used to attract more peoples to investing on the project.

I think a picture like that is displayed to show that the developer team is transparent in raising funds. By demonstrating the progress of fundraising, the developer team expects investors to be more confident before investing because showing that a soft cap has been achieved means that the project can run

joromz1226

sr. member

Activity: 798

Merit: 258

Quote from: Stanlo on July 13, 2019, 03:20:47 AM

Please fellas take a minute to look at the image below

Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap,what came to surprise me is some investors depends on this bar to decide whether they will invest or not,they want to be sure that more investors are buying well you might be wrong.

1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.

2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.

3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.

Rely more on your researches,no knowledge is lost and knowledge is indeed powerful.

If you will become neglectful and no knowledge about checking the good project, you will always be a part of the scam projects.
This is the bad side of most ICO project, where transparency is not happen to their community and the scammer are free to do anything they
want for the victim. While in the IEO there is a high chance for you to be safe in my opinion. just look at the image of your illustration it is
obviously misleading for the investors so be careful.

BennyK

member

Activity: 672

Merit: 14

Quote from: Stanlo on July 13, 2019, 03:20:47 AM

Please fellas take a minute to look at the image below

Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap,what came to surprise me is some investors depends on this bar to decide whether they will invest or not,they want to be sure that more investors are buying well you might be wrong.

1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.

2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.

3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.

Rely more on your researches,no knowledge is lost and knowledge is indeed powerful.

These are some of the misleading factors about ICOs which have led to the dwindled interest of most investors in ICOs. Now, most investors prefer joining IEOs to ICOs. IEOs are well structured and organized in token sales as the exchange platforms serves as intermediaries between the project and the investors. Orders made during the sales are made visible for investors to see without any alterations.

Topic: WARNING! this is very misleading (Read 1076 times)