Topic: What tips you will give to a new investor to identify scam projects early ? - page 7. (Read 976 times)
June 20, 2023, 01:06:29 PM
I have a few sure signs that a project is a scam. For example, the project only has a listing on DEX, such as pancakeswap, one wallet possesses most of the entire offering. The project's tokens are sold exclusively through the site, which can sometimes be freshly registered. The number of Twitter followers is fake. The project's website is single-page and some information is presented as pictures, not hyperlinks, when you go to which you can check the information provided. The roadmap is heavily delayed or, conversely, heavily ahead of schedule.
June 20, 2023, 12:33:31 PM
According to me this can be done by
1) Detailed research about the project and people behind the project.
2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.
3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
Aside from the mentioned points for altcoin investors to avoid scam project, we still have a few red flags which i may likely point out which is promises on a certain % profits when listed, because we have some pump and dump scam that already promised a certain predetermined coin value.1) Detailed research about the project and people behind the project.
2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.
3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
This is all a plot to sway investors into putting down huge amount into the investment and coin during the pre-sale period and at the end the coin when listed will get dumped by the team who will pull an exit one on everyone,
June 20, 2023, 12:28:29 PM
That is the right step to indicate a crypto scam project or not in its project, especially in new projects, and it seems that there are already some people who add their knowledge and experience for anything to do in indicating the crypto scam project.
But the most difficult thing is to indicate whether or not scams in the crypto project that has been large or long journey, in the community, ecosystems, etc. and maybe the project has been running for quite a long time in its industry, like FTX, Terraluna and others who experience fraud Great in the project, this kind of thing is very difficult to indicate, so that even large investors were fooled by suffering a considerable loss until he was carried away.
The consistency of monitoring a project must be done even though you already have a big name in this Insdusrti, do not let you distract and as if you do not care about the money invested with them..
In my opinion, new projects are easier to be identical with these formulas to test them rather than projects that have been running for a long time.
But the most difficult thing is to indicate whether or not scams in the crypto project that has been large or long journey, in the community, ecosystems, etc. and maybe the project has been running for quite a long time in its industry, like FTX, Terraluna and others who experience fraud Great in the project, this kind of thing is very difficult to indicate, so that even large investors were fooled by suffering a considerable loss until he was carried away.
The consistency of monitoring a project must be done even though you already have a big name in this Insdusrti, do not let you distract and as if you do not care about the money invested with them..
In my opinion, new projects are easier to be identical with these formulas to test them rather than projects that have been running for a long time.
June 20, 2023, 12:07:43 PM
3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
This is also one of important metric but sometimes there was also legit project that have been getting so many bot replies caued by they were doing airdrop. The airdrop hunters are spamming their tweets.
June 20, 2023, 11:35:21 AM
My advice never try to deal with a project that offers so many promises that's too good to be true.
This of course is the biggest red flag of them all! Once the promises sound too attractive, Runnn!!! Greed and investing do not go together, a greedy investor will be more easily scammed than an investor who is content.
June 20, 2023, 11:30:03 AM
According to me this can be done by
1) Detailed research about the project and people behind the project.
The background from the developers matters a lot in this case. As long as people behind the project has very good background and they will be doing something stupid to destroy their reputation. 1) Detailed research about the project and people behind the project.
Just try to remind you that as we have hundreds of new projects come everyday. This is very difficult to knew whether the project used fake identities or not.
2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.
Many people in here have been experiencing in the altcoins project started from icos trend a few years ago. 3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
This is also one of important metric but sometimes there was also legit project that have been getting so many bot replies caued by they were doing airdrop. The airdrop hunters are spamming their tweets.
These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
My advice never try to deal with a project that offers so many promises that's too good to be true. 
June 20, 2023, 10:54:03 AM
If you aren't ready to lose your money investing into projects especially the new ones, don't do it.
Whether it would be new projects, or whatever project it is, that's the only thing that I'm telling to them because TBH, no one can predict whether a particular project is a scam or not. Yes new projects have some red flags that we investors are putting into it, but the reality is, we don't know if a particular project is a scam or not until they will do it. Though there are still some projects that are obviously a scam, I always give them the benefit of the doubt. I guess it's because I'm not investing into new projects that's why that's the way I think.
If only there is somebody who can predict the future, and tell which are scam project, and which are not then nobody is getting scammed in investing into new projects by now. We've seen projects in the past that has a kind of legit, a bit trusted, active developers, and yet they still scammed people.
Whether it would be new projects, or whatever project it is, that's the only thing that I'm telling to them because TBH, no one can predict whether a particular project is a scam or not. Yes new projects have some red flags that we investors are putting into it, but the reality is, we don't know if a particular project is a scam or not until they will do it. Though there are still some projects that are obviously a scam, I always give them the benefit of the doubt. I guess it's because I'm not investing into new projects that's why that's the way I think.
If only there is somebody who can predict the future, and tell which are scam project, and which are not then nobody is getting scammed in investing into new projects by now. We've seen projects in the past that has a kind of legit, a bit trusted, active developers, and yet they still scammed people.
June 20, 2023, 10:27:02 AM
There is no silver bullet to say Project is Scam. Lemme share my thought process if it gelps you.
1. Check Dev Team and their promises are realistic
2. Check any HoneyPots using Dex Analyzers like TokeNSniffer, WuikIntel, HoneyPot.is etc
3. Check their activities in TG, Twitter
4. Check their Tokenomics and justification if they want to hold some tokens
5. Check initial tradings of the coin and find out any trends like they are purposefully pumping to dump or other patterns.
6. Importantly, their project should have Sustainable Earning and Return to investors Model else it will be like Octopus eating himself
7. Invest only you can loose if you trust the project.
1. Check Dev Team and their promises are realistic
2. Check any HoneyPots using Dex Analyzers like TokeNSniffer, WuikIntel, HoneyPot.is etc
3. Check their activities in TG, Twitter
4. Check their Tokenomics and justification if they want to hold some tokens
5. Check initial tradings of the coin and find out any trends like they are purposefully pumping to dump or other patterns.
6. Importantly, their project should have Sustainable Earning and Return to investors Model else it will be like Octopus eating himself
7. Invest only you can loose if you trust the project.
June 20, 2023, 10:18:13 AM
What kind of scam project is it, actually? Do you mean scam Bitcoin projects or scam crypto projects in general? Your topic should be under beginners and help or possibly altcoins discussion, for I can't think of Bitcoin having any other projects or even Web 3 projects that it could connect to.
Most scam projects can easily be detected by their numerous fake promises, which could sound too good to be true, not even having any good use cases, but yet you can see the project being hyped by many paid advertisers. But most projects these days appear to really be true, with great potential for team planning and developing real things, but at the end of the day all they are actually after is to rug pull and run. So one just needs to be careful before they make any investment in any project; personal research should be done in order to reduce the risk of being a scam victim.
Most scam projects can easily be detected by their numerous fake promises, which could sound too good to be true, not even having any good use cases, but yet you can see the project being hyped by many paid advertisers. But most projects these days appear to really be true, with great potential for team planning and developing real things, but at the end of the day all they are actually after is to rug pull and run. So one just needs to be careful before they make any investment in any project; personal research should be done in order to reduce the risk of being a scam victim.
June 20, 2023, 10:04:31 AM
According to me this can be done by
1) Detailed research about the project and people behind the project.
2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.
3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
1) Detailed research about the project and people behind the project.
2) Asking about the project on forums like bitcointalk where more experienced members can give proper advice.
3) Checking the community of the project on social media. If there are lot of bot replies or comments on their posts in social media like Twitter, there is strong chance that the coin price is being manipulated.
These are like general advice but do you some specific signs that newbies can spot in scam projects early. What tips you will give to a new investor to identify scam projects early ?
Jump to: