Bitcoin Forum

This scam is becoming more common and it's creating a bubble! It's a simple scam but requires influence to accomplish successfully.

- Make deals with developers.
- Get in early.
- Use early funds for marketing.
- Use your influence to over sell a public crowdsale.
- Use influence to further drive up price when it hits market.
- Cash out and keep some.
- Public investors are bag holding.
- Scammer is on to promote the next big thing.



Some people might not think this is a scam but it most definitely is. Some people will say it's like paying a % of total coins for "marketing" so it's not a scam.
This is a scam because the promoters are getting in earlier than the public.

The private nature of these pre-crowdsales is where the scam lies.

If the public could participate in raising funds for "marketing" then this would be transparent and not a scam.




This strategy is leading to a bubble. The Public are paying ridiculous prices for "ideas" because the people behind NEWS and etc. are telling them to buy at that price. The early investors can make large profits...

This strategy removes the ability of outside public investors to make much profits. As an outside investor you have to pay for an overvalued product in hopes that the bubbles gets even bigger! This is dangerous.





Let the public in on the "pre-sale"!

I agree, this is a scam

BTC is a ponzi scheme too.

These big time pump n dumpers are not helping development.

They are creating a bubble in which they are already 1/2 cashed out and happy.



Raise pre-sale marketing funds from the public.

You are the Ponziking(dom)coin so you should know

BTC is totally different from this.

Only discuss the topic in the OP here.

I guess so.

Nope, BTC is a ponzi as well. You just gotta think about it a little bit.

This thread is one big scam full of fud.

So, do we buy or we don't buy it?

We could flip a coin or two

When buying a Coin Offering you must pay attention to:

- The Level you are purchasing in at 1CO or ICO, 2CO, 3CO, 4CO, etc.

- The Privacy of the past levels 1COP2CO3CO = 1st coin offering private, 2nd coin offering public, 3rd coin offering public

- The Sell ability of funds to be under/over sold 1COP2COS = 1st coin offering private limited, 2nd coin offering public sell

- When the coin is available to Exchange X = Market/Exchange/Trade for USD/BTC/Crypto

- The New Coin Creation structure M = Mining


The scam described by @fartbags would be a 1COP2COS... (1st coin offering private limited, 2nd coin offering public sell, ...). It's easy to see how this is a bubble filled up by selling to the public. The 1COP can sell for below 2COS price, earn a great reward and repeat. The 2COS users are left to hold the bags in hopes of a miracle. Be careful if you see a 1COP2COS.

Here is a list of risk reward:

M = Medium Risk, High Reward
MX = Medium Risk, High Reward
1CO = Medium Risk, High Reward.
1COS = Medium-high Risk, High Reward.
1COSX = Medium Risk, High Reward.
1COP = Low Risk, High Reward.
1COM = Medium Risk, Medium Reward.
1COMX = Medium Risk, Medium Reward.
1COP2COS = High Risk, Medium Reward
1COP2COSX = Medium Risk, Medium Reward
1COP2COS3COS = High Risk, Low Reward
1COP2COP3COP4COP5COP6COP7COP8COPX = (traditional old company) High Risk, Low Reward


I like to get into coins that start with these structures:
1COS, 1CO, 1COSX, MX, M, 1COM, 1COSM, 1COSMX

The 1COP is where the scammers buy in. It's the best place to get into a coin at. The 1COPCOS is a bad place to be buying into the coin. There would have to be many things going right for me to get into a 1COPCOS. The 1COP2COSX is another way to get in if you feel you missed out on the most amazing thing ever.


Always find/make a coin offering string, as described above, before buying into a crowd funding style crypto.

LOL! So much to read. In short... No don't buy much, if any, of a crowdsale that has previously had a private pre-crowdsale.

This scam used in conjuction with The ICO/Pre-sale/Crowd-sale/Crowd-funding "Marketing Scam" (https://bitcointalk.org/index.php?topic=963493.0)

and with

The "self sale" ICO scam can have devastating effects.



Transparency of all raised funds is necessary to prevent a bubble that destroys public investors.

An important thing to note about this scam is they rely on the argument that the early funds were required. This argument does not justify a private limited coin offering. Initial funds should be raised through the public. This would give the same private investors the ability to invest into the project.

If these same private investors are not willing to invest with the public then it proves this is an over valued bubble that no one should be investing in.



If the smart investors who know about this technology aren't willing to invest with the public then you should take their advice and not invest with the public either. Don't end up a bag holder wishing on shooting stars while the early investors are cashed out with lots of profits and moving on to the next project.

So you're saying don't buy ICO's?

What a revelation!  ::)

LOL, yeah dont buy icos... just mine overpriced coins, have bills to pay that come in the mail from mining and all that.
Sounds fun.

I'll stick to my ico's and not worrying about the electricity bill when it comes in.

You don't buy ICO's though, you create ICO's.

Big difference.

That's not ture, but let's assume for a minute that is was.
Assuming it was true are you telling me that you cant buy into said ico and sell for a profit?

Depends on the ICO, but pure maths states you'll lose a lot more on ICO's than you'll make in the current climate, i.e for every success theres 9 failures sort of thing.  How is the average pleb supposed to identify the less than 10% that may stand a chance of rising after trading begins?

Let's not forget how before CIRC you were all up in VIRAL's ass, how did that go?

Simple fact is that mining new coins, or buying new ICO's is currently a mugs game unless you're an insider such as yourself.  I am impressed you guys are keeping CIRC so far above ICO price for so long though.  Means you'll have a healthy stash of sheep ready to buy your next VIRAL.

If you think I'm against you you've got me all wrong, I've got no problem with the way you make BTC.  I merely came here to point out the ridiculousness of an entire post warning against buying ICO's.  If I had more motivation I'd be right there banging out scam ICO's alongside you.

An ICO is something I would invest in if I liked the product. An ICO = Initial Coin Offering. The I standing for Initial in ICO and the 1 stands for 1st in 1CO. Pay attention to the coin offering string!

There's a massive difference between an ICO or 1CO and a 1COP2COS. The 1COP2COS (1st coin offering private limited, 2nd coin offering public sell) is this bubble scam that @fartbags is addressing.


Many new projects are hiding behind titles like Crowd Sale and Token Sale. They then get called ICOs by uninformed buyers even though they're not an initial coin offering. They're a second coin offering.


Make sure you know the Coin Offering String (described above) b4 buying any crowd sale type of token. By distinguishing crowd sales on the coin offering string metrics you can pick the most low risk and high reward coins!

It's all the same shit at the end of the day no matter how you try and acronym it up, a crowdfund aka donation to the dev team.

I dunno because I dont follow all the ico's out in the market. As for Viral, that was a good money maker. In at ico out at 15K ish. Easy 2x. Problem with viral is that the dev is a fraud and cant market shit. Im even thinking about coming out and building a new twitter node coin and doing it right. 1st. Many people in crypto do and will deal with me unlike Adam and 2nd we all know if I go at something and want to to succeed that it'll get done.

BobsTwitterCoin
BTC

Real ICOs still have problems though. My main issue with crowd funding style stuff is "The self buy" scam. This is where Devs buy their own tokens, price of each coin rises, then they take back the BTC they spent on them.

The "self buy scam" scam is super easy to perform. Amateur devs have been doing it on bitcointalk for a long time.

The 1COP2COS can be used in conjunction with the "self buy scam" to really bubble the price of a coin up further.

Any coin trade to BTC is already scam .  ::)
Purpose is getting your BTC and suck them out over and over.

Since people want to do an ICOS to raise funds, a time period should be added to promote better coin distribution.

This goes more towards the Crypto X style of raising funds. The Crypto X is similar to an ICOS2COS3COS4COS...etc... At the end of each time frame a new coin offering is done to raise more funds, pay salaries, re-stock, etc.



Coin distribution is very important.

Just don't buy coins where the dev gets them all for free. Pretty simple right?