When Do you realize a Crypto project is scam or Fraud? - page 11.

pushups44

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Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

There are many signs a project is a scam. Among them are fake profiles or claims of partnerships, a plagiarized whitepaper or other material, scamming bounty hunters, and the sudden disappearing of a social media presence or website.

newgal2017

member

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No I won't wait for years if I haven't seen the team doing any progress no matter how small or big the progress, a progress is still a progress. Well if the project is a scam you'll probably experiencing these.

- Problem with the project
- Having an internal problem such as team members etc.
- Waiting for them to a bullish market
- No updates
- No progress
- No respond from any of them

Well there's a lot or most of them really are scams and frauds who really wants a profit and they didn't do it in a right way.

labilaab

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TRADE WITH NEGATIVE FEES

Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

Obviusly when there is no update to the project anymore in the telegram and in their mediums or means of social interacting sites.

iqlimasyadiqa

legendary

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Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

I always analyze as well as possible, I will collect various existing data. Scam projects usually start to be indicated with unclear data, so please ensure that we can make a good analysis so that we have the opportunity to be able to get success. Never be lazy to do analysis because when we do the wrong analysis we will get a failure.

TIDOVEE

sr. member

Activity: 1246

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i have been a victim of those scam project, it is so annoying, waste of energy, time and resources. i struggled to with the project manager until the project totally became silent. some of those projects were not actually planned to be scam but inability to meet up with the set/ targeted cap, so they escape.

waynechong1995

full member

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swing!

You can't tell until you realized from obvious reasons, rumors that in which turned out to be too late, a project can simply falling or can't find any businesses yet still they are legit and potential, I would say you need some kind of expectation on how's thing is going to be based on your position, you know it's going to be risky when a social project doesn't have much engagements yet

uneng

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Leading Crypto Sports Betting & Casino Platform

When I see they don't have support from social medias I tend to stay away because there are big chances it will fail. I mean when they have few followers, comments, views. Many of these projects don't have any consistency, they start full of expectations, but give up in the middle of the way, especially when they don't invest too much money on it or when the feedbacks and endorsements from community are less than expected.

smyslov

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Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

If they are trying to be anonymous and do not show sign of transparency we can easily figure out that they have a plan to scam investors, this is the reason why it's important to talk to them in their telegram channel and they must have a youtube channel to explain about their project.

2tang

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Activity: 1414

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Undeads.com - P2E Runner Game

I can't determine it because sometimes there are some projects that are deliberately silent because there are some requests or something or even questions that can disturb them on telegrams or other social media platforms
therefore sometimes there are people who deliberately keep quiet but still try to run their projects in their own way and some of them finally succeed because of that I find it difficult to determine which ones are bad and which ones are good just because of that

Handsome Boy

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I ❤ ₿itcoin and Ethereum

Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

I would say the project is scam if the project has not progressed and is not in accordance with the roadmap or whitepaper of the project, besides that the team from the project is not active in providing information about project development.

Shova

member

Activity: 286

Merit: 11

For me every crypto project is a scam unless I find a solid proof of experienced and well know people and companies are working behind it.
ICOs from well established companies, startup of popular persons and individuals with proper experience makes a good crypto project.

lyks15

full member

Activity: 546

Merit: 100

On my own experienced I found out that I am already a fraud or scam victim when the time that project manager did not give any update to the project that you joined or invest and even the token or salary that you receive is already have no exchange site. I hope moderator will have something to do with that scam and I think regularizaion and legalization is the key to avoid that kind of problem.

Litzki1990

sr. member

Activity: 1344

Merit: 379

In my case i will always look at their content, planned of their project, the background of the team and if they have more followers from their social media and most of the time the scam project they allocating big allocation and sometimes they always extend their sale and that is probably scam project.

monineklutak

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Activity: 1890

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The OGz Club

I think when they stop being enthusiastic about giving positive news and some optimism then I see that the project has deteriorated or started to lose direction but we cannot say that the project will die or fail because there are some who can rise after they fall

zero714309

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If the team stop to communication and always lies about their plan in the future (listed in exchanger etc) in their community. From my experience good project always keep their promise and always open to their community about their plan or how far project going on.

tsaroz

legendary

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Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

A scam project would not reveal it's team members or set up fake members. They won't come into a video or conference and doesn't give an interview.
They won't attend any conference or reveal their KYC. Scam project generally copy paste others whitepaper. They provide no transparency on the amount of funds raised and keep on extending the funding period.

dark08

full member

Activity: 798

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First thing you need to do for picking a good project is their concept most ico that introduced in the market have a same concept but not all of them are legit thats you you shoud consider which people behid this project if its reputable or fake person.
I also read first the white paper but most scam ico have a good white paper in that case you need tobe careful check the website if its low design then its a sign.

coin-investor

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Activity: 2940

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Leading Crypto Sports Betting & Casino Platform

Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

At a point the team start given excuses to abide by what they promised to do or stop communicating with the community then I can sense the project is scam. How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ? or you wait for years thinking all will be well ?

It's very important to trade all the sign that they are going to run away, the earliest possible time, always check the team if they are real, the whitepaper if they are a copy cat from another project, and the platform if it is really working and of course communication.

tabas

hero member

Activity: 3024

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Top Crypto Casino

First, I have never invested to any ICO but I'm very much seeing those complains and factors that's related to this.

Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

How do you determine a project is gone bad and won't fulfil it promise? What criteria do you use ?

If the promises they have made weren't fulfilled it's already a sign that they are into something unless they have valid proof for that delay. If no support team is interacting with their people then it's another bad sign.

Quote from: oseikuf44 on May 28, 2019, 06:32:12 PM

or you wait for years thinking all will be well ?

This is crazy, ICOs won't take that long unless they're real projects that has need long planning and development.

chenille

full member

Activity: 428

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chenille!

Check out their team and their education in blockchain related work. Directly after that I would ckeck their experience and knowledge of past (crypto) projects. A knowlegeable team will deal well with different complications if they occur. Crypto is full of arising problems and a team without knowledge won' have a chance to survive.
Of course, you'll also be able to find out if the team is a fake team when you compare their pictures in google (upload). The worst scams use stock photos as team pictures.

Topic: When Do you realize a Crypto project is scam or Fraud? - page 11. (Read 7822 times)