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Topic: Why Most ICO's are SCAM ? - page 10. (Read 4494 times)

newbie
Activity: 30
Merit: 0
July 19, 2017, 01:11:10 PM
#23
There are many ICO opening now but its hard for newbie like me who want to choose a trust coin to invest, so I think there should be a team/group that help people now which is should!
You want trusted people in the community to review ICOs in an organised fashion? I don't think putting an endorsement or seal of approval on something from a supposed position of authority would ever be wise, if something goes tits up they'd get a lot of flak.

At best maybe some people could take it upon themselves to root out scams and things which look shady, trying to investigate as deeply as they can into a project, trawl code, look at who commits and what else they have committed, etc, and report their findings. But if someone is inclined to do that, aren't they doing that already? Maybe some users are doing that here to some degree, I know there are youtubers talking about upcoming ICOs to some extent (usually just jumping on a hype train but not always), maybe there are specialised websites and blogs that try to deal with this.

How about you try to consume as much third party media about ICOs as you can stomach, filter out what you don't find trustworthy, and start following those you do. Don't trust just the first party account of an ICO, research into prospective ICOs yourself, and take into account what the third parties you trust say.
hero member
Activity: 714
Merit: 500
July 19, 2017, 11:46:23 AM
#22
Because people are all over the idea of becoming millionaires from their cents in very short time, and ICOs show them they magical thing just one step away and hence... they don't think enough from their brains and get conned.
member
Activity: 167
Merit: 10
Vietnamese Translator - Bounty manager
July 19, 2017, 11:38:58 AM
#21
There are many ICO opening now but its hard for newbie like me who want to choose a trust coin to invest, so I think there should be a team/group that help people now which is should!
member
Activity: 71
Merit: 10
Twitter: @AndreTeaPanda
July 19, 2017, 11:36:56 AM
#20
I absolutely do not share your opinion. In fact most of the recent ICOs, if not all of them, have been profitable for the investors, and I do not even talk about those you got bonuses.

Short term profitability does not indicate legitimacy and long term results
member
Activity: 71
Merit: 10
Twitter: @AndreTeaPanda
July 19, 2017, 11:35:37 AM
#19
Simple and clear post, great stuff Verthag
hero member
Activity: 1372
Merit: 564
July 19, 2017, 11:30:40 AM
#18
Because there are succesful ICO's in the past and so scammers sees this field as money opportunity.
simple as that.
not all ico are scam, sometimes those who are have a small supporters has higher value in the market when ico is over. we need to be careful on what we are joining so that we cannot be fooled by other and we cannot waste our time on them.
hero member
Activity: 672
Merit: 500
July 19, 2017, 11:14:38 AM
#17
Today there are a lot of ICO organized by the developers ,, but surely there are parties who take advantage at times like this. Holding ICOs with promising programs, but once the investors are interested and start putting funds into them then they just disappear
You should first carefully developer policies and programs before making a decision to include funds
member
Activity: 91
Merit: 10
July 19, 2017, 10:56:15 AM
#16
I absolutely do not share your opinion. In fact most of the recent ICOs, if not all of them, have been profitable for the investors, and I do not even talk about those you got bonuses.
full member
Activity: 182
Merit: 100
Trader*Investor
July 19, 2017, 10:54:24 AM
#15
Everyone is trying to take advantage of the momentum right now. My strategy is the same for all investments whether cryptocurrency, stocks, and startups.

First and foremost:
  • Team
  • Traction
  • Idea / Concept

Team
First and foremost, I invest in people. The questions I ask are:
  • Are these individuals I can trust and share the same values with?
  • What experience does the team have in this space?

Traction
Traction enables me to understand someone's passion, hustle, and results over a period of time. The question I ask here is:
  • What traction has the team achieved over the past quarter, six months, etc?

Idea / Concept
It's never about the idea. It's always about the execution. Hence why this ranks lower than traction. The questions I ask are:
  • What problem does this solve?
  • Is this an idea that I'm passionate about and care offer value to?
  • Is the idea / concept aligned with my values?

The answers to all of these questions give me a good sense on whether or not I should invest.  While it is still possible to make money from momentum investing, I recommend everyone employing due diligence and ask the same questions above prior to making an investment.


Added it to the Post
legendary
Activity: 1073
Merit: 1000
July 19, 2017, 10:38:58 AM
#14
You gave the answer in your topic.

No regulation at all in the crypto markets, so it is a heaven for scammers, as long there are people that are scammable, if I can say.
hero member
Activity: 625
Merit: 501
July 19, 2017, 10:37:59 AM
#13
Are you know a type make money very easy as ICOs? Just need invest and waiting, you will have profit x2 in short time. Sometime, not stop with x2 profit, it will x10 as PTOY. But not have type make money easy can still alive in long time, HYIP and Ponzi project are type make money from invest and are good place for scammer.
full member
Activity: 236
Merit: 100
July 19, 2017, 10:35:51 AM
#12
yeah, but to identify the point you mentioned, it's not easy for common people.
copper member
Activity: 672
Merit: 270
July 19, 2017, 10:33:57 AM
#11
They are turning into scam because they don't have a good team behind that coin and if they have a good team then it will serve as a great foundation for the project and a lot of people will trust their project and they will attract or get a lot of investor so i think the team of the project is one of the most important piece of different ICOs so they will not turn into a scam.
member
Activity: 112
Merit: 10
July 19, 2017, 10:22:34 AM
#10
Everyone is trying to take advantage of the momentum right now. My strategy is the same for all investments whether cryptocurrency, stocks, and startups.

First and foremost:
  • Team
  • Traction
  • Idea / Concept

Team
First and foremost, I invest in people. The questions I ask are:
  • Are these individuals I can trust and share the same values with?
  • What experience does the team have in this space?

Traction
Traction enables me to understand someone's passion, hustle, and results over a period of time. The question I ask here is:
  • What traction has the team achieved over the past quarter, six months, etc?

Idea / Concept
It's never about the idea. It's always about the execution. Hence why this ranks lower than traction. The questions I ask are:
  • What problem does this solve?
  • Is this an idea that I'm passionate about and care offer value to?
  • Is the idea / concept aligned with my values?

The answers to all of these questions give me a good sense on whether or not I should invest.  While it is still possible to make money from momentum investing, I recommend everyone employing due diligence and ask the same questions above prior to making an investment.

sr. member
Activity: 350
Merit: 250
July 19, 2017, 10:11:49 AM
#9
Because most of the ICO just came here to collect money nothing else and people here are to much greedy and have lack of knowledge so because of that people invest money into their scam and the ICO take the money and gone. That is why I always recommend to everyone that if you really want to invest in any ICO first research about them that do they really have good development team, do they have future plan, do they have proper road map and all the required important thing and if you really think and are confident that this ICO will really work then only invest in that no need to invest without research because most of the time you will loose money like that.
sr. member
Activity: 700
Merit: 277
July 19, 2017, 10:10:18 AM
#8
Because many people think short, they can not wait to work hard and eventually make a project scam. The best way to avoid scam is to look at the concepts and discussions in this forum especially the advice of trust members.
member
Activity: 84
Merit: 10
Scam ICO hater
July 19, 2017, 10:05:35 AM
#7
There are just too many ICOs for a person to focus on thoroughly reviewing the flaws on a part time basis.  The community should organize in groups that focus that focus on a single ICO and review in detail.
full member
Activity: 308
Merit: 134
July 19, 2017, 10:01:15 AM
#6
i agree with you, people are impetuous, they just want to invest 1 dollar today and 10 return tomorrow, then if a project looks good appears, they swarmed, but mostly they can not get the profit they want, they begin to curse, but it has nothing to do, only when they lose lots of money, they begin to close hand and quit from the market  
member
Activity: 84
Merit: 10
Scam ICO hater
July 19, 2017, 09:59:30 AM
#5
People are stupid and don't read or understand what they are buying. Some people don't even understand the language and buy or whales that buy any coin in small amounts with no research.

ICO scammers getting more sophisticated creating fake accounts and other means to hype up the ICO on forums like this one. And those who can see the scams are not doing much to expose them or there is no good vehicle that reaches most.

Look at this scam RECoin. Their little post here is filled with fake accounts commenting good things.
https://bitcointalksearch.org/topic/ann-imo-recoin-2014062
newbie
Activity: 16
Merit: 0
July 19, 2017, 09:57:48 AM
#4
because it is easy money. where there is easy money there will be scammers.
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