A project can work "legitimately" for months and months, until an "exploit" has been found whereas there's a good chance that the exploit was self-inflicted.
When we are on the subject of self-inflicted bugs and exploits, have you seen the movie Money Monster? It's got nothing to do with crypto. It's about the stock market, but still an interesting watch. 
Topic: We have the right tools but many don't know how to use them (Read 283 times)
I agree that CoinMarketCap is a good starting point to get some basic information about a certain coin. Besides the official website, CMC will also suggest you blockchain explorers, a link to the source code, audits, social media, etc. But all that should be taken with a grain of salt. Don't trust the info just because it's on CMC. Compare it with other sources. CoinMarketCap can get hacked (and has been hacked) like any other site. Information can be intentionally changed to trick unsuspecting users.
Most potential new tokens are not yet listed in CMC and Coingecko and this is the advantage of early birds but unfortunately they fall on scam tokens since they are easily believe in fake projects actually they dont need tools just a research and asking others opinion is the key to avoid scam tokens.
Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap, we have the right tools but many don't know how to use them.
Actually, it is not enough.not all new coins are listed on Coin market Cap and also CoinGecko. if you are willing to invest in coins that have been in the CMC and CoinGecko, it seems easier. but we must also be careful because not all data show that the coins are not shit. I mean that not all coins listed on CMC or CoinGecko are worthy to invest, many of them are also heading to shitcoins. But yeah, at least if we have been checking that the coins are listed on those two sites, we can really get the essential information including what you are talking about.
But for the new projects in which they are not listed yet on those two sites, we must do some analyze deeper.
We can analyze from the team, telegram group, smart contract, and many more information. too good to be true projects may be also suspicious.
Btw, related to the fake smart contract or fake coins, yes exact if they re not listed on CMC or CG, we must ask it to the official admin in the official group. This is to make sure the probabilities.
you don't have to ask anyone for link to official website,
The mere fact that a cryptocurrency project has an "official" website should get you suspicious because it means that a given project has official representatives, is likely centralized, run by individuals whose decisions and actions may affect your interactions with a project. Oftentimes these representatives will prefer to remain anonymous because "Satoshi did the same," but the real reason for them being anonymous is that they want to hinder you from catching them in case they decide to run away with your money. In short, they are hiding behind their official status to siphon off your money more effectively and quicker. Not only should you have the right tools to avoid being scammed, but also the right mindset and discretion to avoid being fooled by creators of fake decentralization. 
No, they're not really enough to solve scamming issues. Yes, we may see the efforts of them putting red flags for the particular scams but it tends out that they're only giving that warning if it's too late already and the project has proven to be a scam.
This means that there are people that have been scammed already by that project which has given the report to them.
This means that there are people that have been scammed already by that project which has given the report to them.
OP, never rely 100% on the two site you mention without doing your own analysis. I believe that manipulation is still possible on this site because basically every altcoin project listed there needs to pay a fee (not free). Although both sites perform the best possible analysis so as not to make mistakes, analysis is still needed to prevent errors from occurring.
While the internet allows you to gain a fair amount of knowledge, you must also want to learn more to determine what is right and what is wrong. Coin Market Cap and Coingecko never really guarantee anything, they just let you get some information about the projects listed on their site. So you have to be able to do the analysis yourself.
While the internet allows you to gain a fair amount of knowledge, you must also want to learn more to determine what is right and what is wrong. Coin Market Cap and Coingecko never really guarantee anything, they just let you get some information about the projects listed on their site. So you have to be able to do the analysis yourself.
New token and coin sometimes scam. Specifically who are new in crypto world fall in problem for low knowledge about crypto currency. We don't have more crypto related websites.
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Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap, we have the right tools but many don't know how to use them.
You make a point but the first right tool everyone needs to use in cryptocurrency is knowledge, we have seen a lot of projects that are listed on both Coinmarketcap and coingecko that rug pull, vanished out of the market, lied about their roadmap, etc. As crypto investors, if you don't have the right knowledge to select the right project you fall into the trap of this project.Besides, you shouldn't total trust sites like CMC that got hacked twice this year.
Those tools are not enough. Some Decentralized exchanges that rank top 20 on those Sites you mentioned end up disappearing along the line and claim that they are working on their project and more features will be unveiled once the update has been completed. So, the best tool is to observe closely the kind of complaints on their telegram group or official twitter handle.
Scam keep on upgrading day after day and many projects operate for months before they disembark on the project with people's funds. While they exist they will be listed on the sites you mentioned, and the moment they collapse the business, they will get removed from those site you call tools.
The best tool is research!
Scam keep on upgrading day after day and many projects operate for months before they disembark on the project with people's funds. While they exist they will be listed on the sites you mentioned, and the moment they collapse the business, they will get removed from those site you call tools.
The best tool is research!
Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie...
And what if such services are hacked, as was the case recently with CMC? Although this time the hacker was having fun changing the prices, who knows if he may have changed a few links and no one has discovered that yet?
The real tool that people should use more is their brain, everything else should be understood only as information that needs to be verified. In addition, every newbie should know that altcoins are one of the best ways to lose their money, unless they find themselves in those few percent who will know when it's time to pump and when it's time to dump.
Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap, we have the right tools but many don't know how to use them.
Well you have to understand where the questions is coming from, and most probably it is from a newbie in crypto who didn't dig enough and wanted to get all the info by asking and spoon feed. Although its good to answer them from time to time, however, I don't like the idea of spoon feeding. Let them do and research first. So it might take some though before they ever knew what cmc or coingecko is or where to look at the correct places.
This information is not available to all, and even so, many who know are quite lazy to do proper research before buying tokens. Some people who are easily influenced may just hear from their friends that are token may do well, the assurance of "may" and not "will" which suggests a bit more certainty than "may" is okay for them to dive into projects to their biggest loss.
Also the way some scam projects are packaged, they look really enticing, shiny and organised so much that newbies may just be fooled into thinking that scammers do not have such time to package such.
Don't fall prey, learn to use the tools you have.
Also the way some scam projects are packaged, they look really enticing, shiny and organised so much that newbies may just be fooled into thinking that scammers do not have such time to package such.
Don't fall prey, learn to use the tools you have.
Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap
Being listed on Coinmarketcap or Coingecko is good and very first step but it does not guarantee that those projects won't have rug pulls later.They are third-party sites (as well as other sites) so make sure you always do double checks or cross checks for information you get from Coinmarketcap, Coingecko, Google (other search engines) and official websites.
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we have the right tools but many don't know how to use them.
True but firstly newbies don't know about those Wiki websites for cryptocurrency. They are invited to join and invest in shitcoins first. People who sent them invitation even don't know about those sites or skip this basic steps.Another reason is many shit coins are not listed on Coinmarketcap or Coingecko.
we have the right tools but many don't know how to use them.
So, what tools do you have, show them here and how they work, we have used and seen the development of coin charts, analysis etc, on Coinmarketcap and coinecko, but the so-called hackers or thieves have 100 ways, if they want to do it.Honestly, I don't know what you are talking about (tool), which is in the exchange market (uniswap), indeed that is often used by many token hunters in Bounty campaigns, uniswap is commonly used by them, selling tokens, maybe formerly known as Etherdelta, now uniswap, So, if you have expertise in prevention, hackers, theft, fraudulent contracts, show me the tools at your disposal, let people understand.
What percentage of expertise do you have and can prevent bounty hunters from scammers.
But not all were true, take a look of Bitcoin BEP2 or BTCB [1] Why does the official website they use is bitcoin.org? bitcoin.org is the official website for Bitcoin own chain. Bitcoin BEP2 isn't a real Bitcoin since it's created by Binance and the value pegged with Bitcoin, the official website for this fork is binance.com or new sites about Bitcoin BEP2. This will make newbie confuse and could think Bitcoin BEP2 is same as Bitcoin.
[1] https://coinmarketcap.com/currencies/bitcoin-bep2/
[1] https://coinmarketcap.com/currencies/bitcoin-bep2/
Coinmarketcap and coingecko are enough to solve scam problems
Those platforms can only give credible information on different coins and tokens, 90%+ of those coins and tokens still turn out to be scam or just plain shitcoins. Doing your research is advisable, but to avoid getting scammed one should avoid shitcoins, the only reason they gain interest is cause investors are looking for quick ways to profit.Only purchase currencies with strong fundamentals, besides what's on a white paper or roadmap.
They just comply with the requirements but scammers are too smart to comply and yet scam their investors.
Remember that there different type of scams, some scammers will just collect from investors and run away, some make the project look legit for a short period of time before they will eventually leave it and cash that money out.
Remember that there different type of scams, some scammers will just collect from investors and run away, some make the project look legit for a short period of time before they will eventually leave it and cash that money out.
Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap, we have the right tools but many don't know how to use them.
This community is meant for watch back of others, if you really have solution of solving problems or a solution to eradicate scam, you have to portray it's solutions stanza by stanza, because its not only newbies that adventure into scam or only meant to isolate scam, other members really get scammed, since you have made it know that telegram channel contributes or mislead people and really makes people to be scammed it's quite understandable from my perspective. 
To be fair, while scams in the 2017 ICO run was obviously full of crap, scams right now are really really well done. A project can work "legitimately" for months and months, until an "exploit" has been found whereas there's a good chance that the exploit was self-inflicted.
Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap, we have the right tools but many don't know how to use them.
These tools didn't have a guarantee that you didn't scam. Some projects are good to be true from the start but they will always end up exit scams or projects abandoned because the fact is they don't have real use and don't have the word of decentralized.
Maybe some of them are misleading they sent into the wrong contract address because they're lazy of having DYOR before initiating such action.
It always has an advantage for those people who invested that has knowledgeable enough rather than the lazy or naive investors.
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