Topic: We need to do something about all the scams - page 5. (Read 900 times)
We need to do something about all the scam ICOs popping almost every day by spreading awareness. But it doesn't mean we have to regulate it. In my opinion, if cryptocurrencies are being regulated then the very essence of "decentralized" is useless. I am in favor of the government to let ICOs register and pass the required documents for legality. But the investor should bear the risk. The problem with us is we are too attracted and too eager to make a profit that is why we easily got fooled. People should learn how to search on their own and look for other's opinion. Just like many people are saying, "Invest at your own risk."
All you said is true. I personally dont care of blindly investors and scam projects because I dont invest anything, but regulators care. Authorities use this situation to establish new regulation laws, mass media shows crying people and says: "Look at poor girl, she lost all money mom gave her for school breakfast, we have to stop it" Or: "Look at this guy he sold his home and his car for investing to scam project, we have to limit investments to $900 per citizen". But I dont need new laws and new limitations, any law supresses my freedom
+1
Wow thanks for bringing that up and now that I think about it I went in on a token similar to this one without giving it much thought. They were a well established company in real life but no blockchain experience and that was my mistake getting involved like that. Keep up the awesome work we need more heroes like you! 
Their are more ways to avoid scam, now a days more people victims of scam, but if we vigilant to our sorroundings scam will not exist.
All you said is true. I personally dont care of blindly investors and scam projects because I dont invest anything, but regulators care. Authorities use this situation to establish new regulation laws, mass media shows crying people and says: "Look at poor girl, she lost all money mom gave her for school breakfast, we have to stop it" Or: "Look at this guy he sold his home and his car for investing to scam project, we have to limit investments to $900 per citizen". But I dont need new laws and new limitations, any law supresses my freedom
Well this is a good move I think. How many scam ICO have been there in the last year alone? Too many to count. And they don't care whether its just a few thousands or eve millions. As long as they can duped people to invest on them they will do it and took off with the money.
And the worst part, is that those legit and trusted ICO are not being questions because history says that you can't distinguishes legit from those scammy one. And with this move, we can filter out early which is a scam or not if they can't justify their use case.
I hope that a collective effort Wil be made to extinguish these kind of malicious act. Scamming drains presale of trust, and like you said history or news abouts scams scare people and potential investors from understanding the real nature of cryptocurrency. Like what is happening in my country, there are so many news about purple getting scammed using the name of bitcoin as their foreground.And the worst part, is that those legit and trusted ICO are not being questions because history says that you can't distinguishes legit from those scammy one. And with this move, we can filter out early which is a scam or not if they can't justify their use case.
I too have was nearly scammed. I almost invested in a campaign that i saw on the marketplace. Good thing I did my research, that campaign "C" had a track record of being a scam. Turned out that bounty hunters for that campaign weren't paid at all. What a waste of time.
yeah we need to do something about to all scammer because it hurts so bad. we work for it but they didnt pay our work so please make something to all the scam that they made.
Hopefully those scammers will be banned forever and they will be detected so that we can work at peace without thinking that our hard earned will go to those scammers, who are not doing a legit job in order to gain money. Be observant and be alert everytime.
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.
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.
Now that's a good post. I think investors need to do their homework and only then invest. Lot of people are interested and blinded by greed to make x2 to x10 times of their money invested in ICOs and they simply forget about scammers and how they operate.
I think we cant do anything on scam. But we can prevent scam. All you have to do is investegate that ico or etc that you want to invest. Try to find some source. Ask some expert that has more experience in crypto. And also check if that has great volume of people who invest
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.
Sadly, i don't have a merit anymore but anyway, thanks for listing the guide and i hope more list of scams ICO will be listed here for everyones data on how to notice them and what are the questions should they ask because some of us are newbies. 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.
Mate, mankind will never get rid of the practice of scamming people. Nor will people learn on how to prevent themselves from such scams. So how much ever some one /group of people try to explain people about scams, they will continue to exist as smarter people come up with new ways and ideas to scam people. I think that regulation would at least help a little to avoid obvious scams.
It will always exist but it can be greatly reduced, first by educating people so they don't fall for such simple scams and secondly by preventing such simple scams from being able to exist in the first place. The better thought out scams will still be about but they won't target nearly as many people.
Mate, mankind will never get rid of the practice of scamming people. Nor will people learn on how to prevent themselves from such scams. So how much ever some one /group of people try to explain people about scams, they will continue to exist as smarter people come up with new ways and ideas to scam people. I think that regulation would at least help a little to avoid obvious scams.
Scam will be always, unfortunetly it's true but in soon future, I hope, there will be some harder regulation of all ICO projects.
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.
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.
I will support you 200%. This seems to be the solution for all those trash coins that just waste the time of the people and waste their money. The scam ICOs and other coins are actually the main reason why governments hate bitcoin and they ban crypto because they are afraid that the people's money will be taken in the air. Having this kind of concept will help us fight and find out the scam ones. Please continue on this for the sake of all the people who believe in cryptocurrency.
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.
Wow! Thank you so much for this, sir. This would be a great help for us especially to those who are new here, including newbies and also me. We do really need to do something about it and we should not tolerate them because the more we tolerate, the more they scam. 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.
Wow, thanks man! this is actually a good idea. A lot of newbies will really benefit from this thread if a lot will really take the time to put down names and valid reasons as to why the names they have mentioned are really scam ICOs. Because I just don't think that a lot of people will really be taking the time to do this for free without having any benefits on doing so. The only reason I can think of for people doing this is because they might have grudges for the said project or is a close competitor. Of course I am not saying all, but I am pretty sure mostly. Because let's be honest here, everything nowadays already has a price or actually needs a price. But even so, I still wish that this plan really works out because it will be a really big help for newbies and for yeah, lazy people who do not want to put that much effort into looking deeper into ICOs that seems to be scams. xD
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.
To all scammer here all over the world not only with bitcoin.Hopefully they think first what we do and think how they affect different individual who work hard but it useless if they encounter scammer.Government and officials need to participate and think how to resolve this .Another thing is we people we need to secure every account we have.And every personal information . 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.
Yes it is true, we need to prevent and fight those scams sites and developers that kills the good market cryptos has. Actually the main reason why governments do not give support to cryptos is because many uses this technology to scam many people. They bring negative image to cryptos which makes investors thinks bitcoin is the biggest scam were in fact it's not. If we can eliminate these scam site maybe it would be easy for the government to support bitcoin.
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.
Very well said. Governments have opted to make regulations because of the numerous scams out there and to protect their citizens from them. Since there are many who fall victim of scams, scams still continue to flourish up to this very day.
I think that the best way to combat this is to spread awareness of scams. If people are prepared and knew what to look out for in a scam, then many would be able to avoid these scams. Most scams are very clever and advanced but if you do your research first, it would be obvious that there's something fishy. If it seems like something's not right such as the promise of high returns - it's most likely to be a scam.
Yeah! This is a great news so that all the scam will vanished in the thread. I am one of those people who work hard for a bounty but didn't received any payment. In fact they keep on updating their thread about the payment but when the time comes they will set another date. Eventhough I did not invest money but the effort I made on that project is all nonsense and worthless.
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