We need to do something about all the scams

jaysabi

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Quote from: VladWulf on February 06, 2018, 01:23:52 PM

* EQUI https://bitcointalksearch.org/topic/annequi-bridging-crypto-with-traditional-venture-capital-presale-0103-2888110
The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

Doesn't literally every ICO fail the Howey test? Unless you have the rare bird that actually goes the route of registering as a security and a securities offering with the SEC, every ICO is an unregistered security offered or sold in contravention of the federal securities laws, not to mention the state laws.

paulo1210

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We need to do something about all the scams. We are all targets and we are all vulnerable. Criminals across the country and around the globe small-time thieves and devious computer hackers are working around the clock to steal your money and your personal information. There’s nothing you can do to guarantee you won’t get taken, but there are many things, some of them very simple that can reduce the risk. Scammers are getting increasingly sophisticated in their attempts to get your money or personal details. Be alert and protect yourself from being scammed. Be alert to the fact that scams exist. When dealing with uninvited contacts from people or businesses, whether it's over the phone, by mail, email, in person or on a social networking site, always consider the possibility that the approach may be a scam. Remember, if it looks too good to be true, it probably is.

nicolebtccrypto

member

Activity: 163

Merit: 10

Quote from: KonradKarl on February 09, 2018, 06:12:14 PM

Unfortunately we don't have any chances to fight with scam. Since there are a lot money here, scammer will be here. And we can't do anything with that.

I think the best way to avoid scam is putting rules and regulations. Being Scammed is so unpredictable, but we cant stop it if we should have that rules and regulations needed in order to avoid that thing.

marcuslong

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Quote from: ronafurw on February 28, 2018, 02:37:13 AM

Quote from: Spades77 on February 26, 2018, 09:09:54 AM

I agree, I have lost count already how many scam ICOs have been there just popping up everyday. I agree that this should be regulated and everyone should have a full understanding and total awareness of what they are getting their selves into before investing.

There are so many scammers around us that you can’t even identify whether you are dealing with the right person or not. Scammers are a serious threat to each and every one of us and that we all need to spread the knowledge we have regrading this so that we may get a chance not to fall victim of such kind of people. Till the time, we ourselves will not take care of these things, our money will remain in danger.

Dealing with a scammer is very challenging. A lot of scammers are roaming around, some are wearing masks to hide their identities, doing all the smart strategies waiting for their preys to be victimized. It targets people with no exemption, despite of their personal and professional background. The best way to deal with it is to be vigilant all the time, do online searches like company's name and phone number to check if it's legit. We have to take a look for what is new because as these people continue to operate then there is more to come and more likely to be victimized.

ronafurw

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Activity: 420

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Quote from: Spades77 on February 26, 2018, 09:09:54 AM

I agree, I have lost count already how many scam ICOs have been there just popping up everyday. I agree that this should be regulated and everyone should have a full understanding and total awareness of what they are getting their selves into before investing.

There are so many scammers around us that you can’t even identify whether you are dealing with the right person or not. Scammers are a serious threat to each and every one of us and that we all need to spread the knowledge we have regrading this so that we may get a chance not to fall victim of such kind of people. Till the time, we ourselves will not take care of these things, our money will remain in danger.

cryptojac17

full member

Activity: 490

Merit: 107

Quote from: carlisle1 on February 27, 2018, 12:26:30 AM

Quote from: gabmen on February 26, 2018, 08:20:25 AM

Quote from: labs0918 on February 25, 2018, 08:41:24 AM

Just be wise in joining networking or any home job that leads to be scam. Make a search about the company you wanted to join if it is legit or not to avoid scam.

Right. Most scams offer easy, quick money with less effort. I think it's easy to spot these moduses if you just keep vigilant and less greedy about easy money. And the internet is an endless source of information so there shouldn't be any reasons why you'd fall for these scams if you're not greedy

not good to say but its true,greediness is the reason why most of users got victimized by scammers because of instantly wanting to grab the offers.then when being scammed will cry hard as if he has no fault about it,i understand that we all need to gain money.we need profiteering but never forget the basic rules.NO PAIN NO GAIN.so if theres easy offering think many times before acceptance

Security in the net is quit not good since still there are lot of hackers and scammers that still working to steal your money if you don’t vigilant enough. You should have scheduled change of pass word once every week just to make your wallet secure once you will expose your personal key or password that’s the time that they will strike.

carlisle1

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Activity: 2744

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Quote from: gabmen on February 26, 2018, 08:20:25 AM

Quote from: labs0918 on February 25, 2018, 08:41:24 AM

Just be wise in joining networking or any home job that leads to be scam. Make a search about the company you wanted to join if it is legit or not to avoid scam.

Right. Most scams offer easy, quick money with less effort. I think it's easy to spot these moduses if you just keep vigilant and less greedy about easy money. And the internet is an endless source of information so there shouldn't be any reasons why you'd fall for these scams if you're not greedy

not good to say but its true,greediness is the reason why most of users got victimized by scammers because of instantly wanting to grab the offers.then when being scammed will cry hard as if he has no fault about it,i understand that we all need to gain money.we need profiteering but never forget the basic rules.NO PAIN NO GAIN.so if theres easy offering think many times before acceptance

VladWulf

jr. member

Activity: 84

Merit: 5

You guys should check this video and how we fight scams.
Please tell me what you think about it.

https://youtu.be/Gysk1MzgfsQ

Spades77

jr. member

Activity: 132

Merit: 1

I agree, I have lost count already how many scam ICOs have been there just popping up everyday. I agree that this should be regulated and everyone should have a full understanding and total awareness of what they are getting their selves into before investing.

gabmen

hero member

Activity: 1246

Merit: 529

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Quote from: labs0918 on February 25, 2018, 08:41:24 AM

Just be wise in joining networking or any home job that leads to be scam. Make a search about the company you wanted to join if it is legit or not to avoid scam.

Right. Most scams offer easy, quick money with less effort. I think it's easy to spot these moduses if you just keep vigilant and less greedy about easy money. And the internet is an endless source of information so there shouldn't be any reasons why you'd fall for these scams if you're not greedy

Procopiogamscrypto

newbie

Activity: 210

Merit: 0

Quote from: VladWulf on February 06, 2018, 01:23:52 PM

Hey there,

I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances.
What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity (https://www.youtube.com/watch?v=p1ZYGuJXBQE)

The reasons why we have to fight scams are fairly simple:
- Scams attract regulators
- More scams attract more scammers
- People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money.
- You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS.

I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams:

* EQUI https://bitcointalksearch.org/topic/annequi-bridging-crypto-with-traditional-venture-capital-presale-0103-2888110
The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

it is our responsibility to be cautious always in different projects we joined, we must check their credentials ,the product and other information related to the said project, it is our self initiative to keep smart and careful to avoid being scammed.

RDNX

member

Activity: 392

Merit: 11

I agree with your idea. Most of scam ICO ruined the Crypto community and ecosystem. So, I'll start with my report. Let's take a look bitcoinquick.org
I think it's a scam. Their promises to get listed on CMC, but until now, the dev does nothing. The token has been swapped, but the dev is not made an announcement to the community

labs0918

member

Activity: 205

Merit: 10

Just be wise in joining networking or any home job that leads to be scam. Make a search about the company you wanted to join if it is legit or not to avoid scam.

pisston

sr. member

Activity: 630

Merit: 250

Quote from: jeanne513lefe on February 25, 2018, 06:10:04 AM

Is it possible to set up a third-party to provide certifications to legit ICO companies?
Perhaps the role of it will be similar to that of accountants or risk-rating companies.

in fact, today there are already several projects that deal with the analysis of ico companies. But I would trust only an authoritative project that has the Trust of many investors.

jeanne513lefe

newbie

Activity: 50

Merit: 0

Is it possible to set up a third-party to provide certifications to legit ICO companies?
Perhaps the role of it will be similar to that of accountants or risk-rating companies.

Olalomi

member

Activity: 490

Merit: 12

This is obvious a welcome development towards eliminating and eradicating scammers however despite all the security measures put in place by wallets providers e.t.c scammers are also getting sophisticated on daily basis therefore to avoid scamming it is individual prerogative .

shoujiuhaituo7

jr. member

Activity: 210

Merit: 3

I agree with you, I think the ico concept needs to be regulated, which should be pushed by everyone, and I see a lot of people who hate fraud.

Because of fraud, many bitcoin users are reluctant to invest and buy COINS, and we must fight the fraud.

Scavagers

full member

Activity: 364

Merit: 100

Quote from: VladWulf on February 06, 2018, 01:23:52 PM

Hey there,

I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances.
What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity (https://www.youtube.com/watch?v=p1ZYGuJXBQE)

The reasons why we have to fight scams are fairly simple:
- Scams attract regulators
- More scams attract more scammers
- People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money.
- You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS.

I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams:

* EQUI https://bitcointalksearch.org/topic/annequi-bridging-crypto-with-traditional-venture-capital-presale-0103-2888110
The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

thank you ,that was a good move. it is very well appreciated.I think it should be the time to elimimate scammers and teach them their lesson. Many people are being victimized by scam and you should not wait for it to happen to you because it costs you a lot. We should have a report system where scammers can be punished and penalized,I just do not know how without a law being implemented.Even if we can not eliminate them, we can just minimize their number by reporting them to authorities and be subjected to a corresponding case.

maculeth

member

Activity: 714

Merit: 11

BountyMarketCap

Quote from: VladWulf on February 06, 2018, 01:23:52 PM

Hey there,

I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances.
What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity (https://www.youtube.com/watch?v=p1ZYGuJXBQE)

The reasons why we have to fight scams are fairly simple:
- Scams attract regulators
- More scams attract more scammers
- People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money.
- You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS.

I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams:

* EQUI https://bitcointalksearch.org/topic/annequi-bridging-crypto-with-traditional-venture-capital-presale-0103-2888110
The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

what about the token distribution that is delayed for up to 2 months, is it potentially a scam? I am a bit annoyed with its old distribution of tokens, I am just afraid it will not be realized.

AimHigh

full member

Activity: 554

Merit: 100

Quote from: Lagoons on February 21, 2018, 05:32:49 PM

We can never eliminate scams. It's part of human nature. But if you get a responsible team and list them all here with the logic behind why it's a scam is a great idea.

Yes you are right we cannot eliminate scammers because they are always there and they are also part of our nature. Report a scammers but they are also creating another tp scam again so that you cannot eliminate them. The best thing to do even we didn't eliminate scammers was ignore and more knowledge and learn the way they scam to know that they are scam.

Topic: We need to do something about all the scams (Read 900 times)