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I think it was Clif High that said he expects a lot of scam ICO's in the coming period.

I look at a lot of the ICO's now on ANNS and the quality really has fallen off a clif (no pun intended) Most seem like mocked up jpeg wallets and very basic set ups with only 1 or 2 names on the ICO that are just kids still at university. Tread with caution the real scams are coming!!!

No shit, Sherlock.

Scams are everywhere in bitcoin since the early days.

Agree with ^^ totally.  This is nothing new here, and people would be well advised to NOT invest in these craptastic IPO scams, because that's what they are.  There is no stopping them, tho.  As long as the suckers keep buying them, the scammy devs will keep churning them out.

I believe scams are everywher specially on alt marketplace. The thing that's best to do is to be vigilant and alert in every ico you are joining or investing, always check the basic things, the devs, the use of the coin and imagine how feasible it is. I think all of us are competent enough to do it.

And I have been watching them since then as well. But this is a bit different I mean big scams that people set up ICOs and get millions and won't ever deliver anything or walk away. People love to use the word scam but I'm talking full on millions taken. Bitcoin scams never bagged anything like as much as the ICOs now. And most ICOs now haven't been scams, money grabs sure but not my definition of scam, i.e. Illegal. I.e. Guy sets up website does an ICO gets a few million and then logs out.

Many projects just come in to roll up money, they will not have the actual action or product. like TenX, Cliil etc, these all also scam possibly

these things are not exactly legal so you can't define illegal based on them being the opposite!

a scam in my book is when someone who has no understanding of anything googles "how to make my own altcoin/ICO" and learns how to copy paste. then makes a pretty ANN topic or some who want to spend a little more make a pretty website on top of it and then ask for money (aka start an ICO) for the job (which was copy pasting) they have done.

and with that definition there has been countless scams so far.

It is normal situation in such a market, people have to be careful and should not throw their money to every ico.

Yeah we need to be more careful there are lots of scam in the crypto world

Are you sure TenX is an ICO project without a product？ I konw they have TenX pay Card.

What i dont understand is how ppl throw money at these ICOs without doing proper homework first? Its pure stupidity. Dont invest if they only got an "idea", let them bring atleast an alpha version first.

After putting money on the PILLAR >:( without doing my homework first, I can say I learned a valuable lesson.

I've been reading through a number of the whitepapers put out by most of the ICOs coming out in the next few weeks and I got to say BE VERY CAREFUL. I'm not listing any names as I'm not trying to promote any of them.

Well everybody must be more careful. I personally will never invest in a project which doesn't need to be on the blockchain and can work without problems outside of it. With the current market situation people come here with their "projects" and start ICOs just to get money, nothing else. Their idea doesn't need to be necessarily on the blockchain but why won't they get some easy millions if dumb people invest in their project?

Just wait until someone open-sources or white-labels an ICO template / solution.  Then we'll see 100x scams...

We need to collectively discourage and report scams as much as possible.  Otherwise, it cripples the growth of this industry...  :-[

Scam is everywhere even in real life their is scam it is a matter of good decision or not, if you will invest in that particular site or not, it is your decision but be wise & vigilant always because your money is at risk if you not.Always think twice or trice made some research before investing.

I think present world scams are everywhere especially on Alt marketplace. If you want to invest on ICO. So you have to know details of it and then You can choose a trustable ICO. But one thing, All are not Scam.

And I thought winter is finally coming...

TenX is valid. They have product and lot of marketing. One of the few coins which have a working product. and maybe 1 of 3 ICOs with a working product :)
You can order the TenX creditcard and start paying with cryptos.

yes there is scams around us especially in cryptocurrency because they have an opportunity to run investors money and this is why we need to be careful if we want to invest in ICO. but i think its really hard to know if someone is a scam in ICO because they can use other people identity to cheats people.

even there is scam ico but it depends from ourself. we must choose ICO that potential and can make us get profit from it because so many ICOs which it is price fall down after listed on market

Scam ICOs are not new to crypto, I think we need a real due diligence service other than the paid ICO rating sites, which make you legit as much as you pay.

You are 100 percent right!

Scams are everywhere. Although unlike what you have observed, some are really convincing. They look good. They look really legitimate. But only to end up a wise plan to drain the money out of gullible and naive people. I just hope that there will come a time when ICOs have to be regulated. This is in a way destroying the reputation of cryptocurrency.

Took long enough with the amount of money fools were pumping into these icos..

If there is money to be made, scammers will rise. Do your due diligence.

Unfortunately I'd say it is part of a learning process to understand where to invest and where not to.
If you don't do your due diligence and invest without any process of verification or research, then it is as good as playing at the lotery.

We all started without trully understanding what we were doing, and we learned.

All this means that scam ICO's with a very cheap presentation and no effort whatsoever to present a well structured and organised project will not bring sizeabl/experienced investors.
They only endanger the newbies that have to learn before investing efficiently..

We can warn them and help them, but not do the work for them.

Hi! Could you please elaborate what went wrong with PILLAR? I also invested a small amount and would like to know why it's a mistake/scam and how you can recognize it to avoid such investments in the future.

Thanks!

there is a lot of scammer anywhere most of the victim of the scammer is the newbie who has a lack of knowledge on where they can invest their money, they want to earn money easily so they invest large amount of money and the scammers will sent a message that their company has a good potential and trusted for investing but the truth their company is scam.

scamer are everywhere  waiting for your huge mistake but if you alert and sensitive you may ignore  this.first time you should analysis your project what are they say.if you hardly feel that your working plan is good then you may starting.

I also think scammers are the newbie Fuckheads on here constantly screaming scam at anything and everything. Fucking boring..

Therefore we must be careful and good at choosing good ICO.
Scammers in the crypto world will always be there although we can not eliminate it but we can stay away from it.

Agreed but they have never been this much intense before. You can go ahead and check altcoin announcements forum, there are undreds of new project which most of them are garbage. Their team members are non-experienced guys.

Yes it's true, Before putting your moneys on ICO try to background check frist if that ico has a good projects or works and investigate if their promises are true some of ICO's using other popular persons or company names to attract more investors so be careful and check if it's true that they have partnership with them so if the ico or ANN doesn't have a good background it is risky to put your money in, if the developer of that ico is not trained they'll choose to run the money rather than to build that coin.

Do your due diligence and don't get caught out by scam ICO's. They really are everywhere these days. Go for good teams with actual products, not whitepapers and grand promises for the future.

Scams are not sleeping,  they are everywhere especially on the marketplace.  Be alert, attentive and vigilant on some suspicious thing that you will see and ve aware on what camp.  Are you joining in..

I think so too, many ico emerging, his ideas and concepts are good, but his dev and his team are new people in the inexperienced crypto world. Now we must be smarter and conscientious to choose the project we will follow and also participate in its ico.

Be careful bro  :D

ther are something to do to avoid the scamer what first step to do.

Totally true scam has been part of the crypto currency ,
It is always part of the system when money is involve there is nothing new to it,
So just relax and if you really don't trust it you can just ignore them and don't invest on them.

I have to admit there are many colorful bubbles in this market, some of them are scamers, but i think the crypto currency still have a bright future and we are lucky in this market now.

I should always be careful for some scam ico .. can you please tell how we know if the project is a scam or not?

Scam is already doing it job...  Right now...  Scam are coming to btc world especially it is found at the marketplace because marketplace have many people..  And the scammers are very risky so to many users out there... Be vigilant..

yes indeed altcoin is a world full of scammers,  crypto  ICOs are financial instruments with increased complexity compared to traditional, add to this the fact that every one is trying to be instarich... and you are well served

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It's pretty simple to be honest you can do some own research about the coin by going through the details in the ANNs and white paper. Of course every coin will have its own positives but you should think if it will bring about a greater impact over all the existing coins and how it will do so. If you find fitting answers to all your queries, it might be worth investing in the ICO.

The scams are coming.It is not new in the world of cryptocurrencies.These scams are usually coming when the value of a coin is getting higher and when the coins are being famous.These scams are usually in the marketplace,so lets be careful im scammers.

Scams always happen everywhere, let alone mingle with money and altcoin ,, people do everything to get big profits, though as strong as any security is done by ico itself. So we as altcoin users must carefully choose something, and do not be easily affected by the promised big profits

Strange we are talking about scam ICO's just like something hidden and untouchable and will bite us, and we don't know how to fight against it.. Just avoid it, or at lest do not rush for discounts, avoid too good stories, investigate, share your conclusion and post here evidences..This is the only way!

Well, what do you expect when every Tom Dick and Harry can make a coin for as less as $5 (using waves), host a website with less than $10 (any basic shared cloud hosting) and market it in social media and platforms like this.

Anything which they get is nearly profit.

Yeah they can get easy returns on investment like that like it is nothing, even if only twenty people buy, they will still be in profit. That is why there are many ICO's right now, so be careful of them because I think some just have a rip off idea from another altcoin, just edited. Some have a kind of unique idea but in a way that crypto world does not really necessarily needs it. There are a few who might not be scam though but still beware most is scam.