Bitcoin Forum

Hey, community.
I reviewed a lot of projects last week and surprised, where is competition happened. Instead of describe real business model, results around MVP, active users, teams are increase and increase “free” coins amounts.
Outside it looks like market, where sellers ready to pay customer money just if they agreed to grab services or goods.
Yesterday somebody wrote: “10$ if you join to my telegra group”. Next day somebody write - “we will pay 100$ for same”
No matter, if they pay in own coins. It is a money anyway. Imagine, if I will go to the street and pay each people 30$ just to press couple buttons on phone? Sounds crazy?
Can you share your opinion? Why teams not fill real value of their coins ?

I guess its just their way to advertise their platform and to grow their member by paying them to join. Nowadays, if you don't have money, you don't have audience when in situations like that, unless you are making some effort for them to earn.
People will try to join for that money, why ? Who does'nt want a free money ? Just for a little of effort by juts joining their telegram.

These coins don't have much to offer public so they want to show the people that there are so many people are interested in this project. But when no one is ready to join they are paying people to join. New investors look at their channel members count and think that this project attracts so many people so they may invest money in these coins. All these are marketing tricks. They will make sure that they will get back more than what they spend on these marketing methods.

These days it has become very difficult thing find which project is good and which is one is not good to invest. So better wait for them to list in exchange to buy.

Its matter when user do not pay 100$ just for joining they can pay max 5$ because they want to build large number of user database.
what if they pay 100$ in own coins... and they will tell you this amount is worth 100$ really will you believe in that coin.  But in real when you receive coin Coin value already less then 30% from value the told. and when you try to transfer funds they will tell you you have to pay this fees...... in the end you get 5$ only? you are working for 5$ only

it is true this is more to marketing system, they want many people know the program works by giving bonus free money when joining their telegram. maybe with this system they think will get many investors

I think it's just a business trick from them so many people join their telegram.
maybe his comparison is 1: 100.
My experience joined on DRAGON Telegram (DRG) and they paid $ 200.

In general, I agreed. But in real word any expenses are limited (of course if you are build not scam but like build long term business) on a market, much cheapest ways are existing to add members of telegram groups (even I have own one).
Why teams so lazy and like to spend crazy money?

Thanks you, I agreed with you. But why investors take attention on marketing activity (like telegram groups) instead try to check business(if exist) or team? Maybe it make sense to create some webinar to explain a basic areas to check?

I guess it connected issues. They send a huge amount of coins for free and then all salers are decreasing prices. If coin not value for the team, how coin can be value for market?

Would you like this? Is this project actively growing now (and coin price grow as result?)

It could be a strategy for marketing purposes. ICOs, who usually distribute tokens from air, are having trouble identifying themselves. Another point to be noticed is that the token numbers are too high, which makes the crypto money unsafe.

200 dollars for joining telegram group? That's one of the most general kinda airdrop, I have ever heard. Actually until this thread I have never heard this system even existed. Didn't sound so safe though...

same thing when we want to fishing, if we want to get big fish then surely we have to use bait. to get and attract the attention of investors, then a project should look perfect and interesting.

if its ico has reached the hard cap, I think it does not matter, because they have planned and allocated its tokens for this marketing activity. but if the soft cap just is not achieved, then this is bad and I can not imagine it.

Usually joining a telegram group gives you 10$ worth of tokens. They are giving this as advertisement.
They don't give this as their own pocket. They have a budget, when they sell their tokens they give some fair amount to bounty campaign. This becomes norm now.

There are a lot of projects that are running airdrops in the last couple of months and the most are paying 1-10 USD if you simply join their Telegram chat or do some other social media tasks. A good page for new airdrops is airdrops.io (http://airdrops.io), you should take a look at it if you are looking for some free coins.  ;D

If they pay it from their tokens, that might be okay but if they claim to send it as eth or btc once you joined telegram channel there must be something wrong with that, it may be scam.

Many crypto investors want to make a quick money and they don't have time and knowledge to check on their business so if they see some groups with tons of followers then indirectly they will assume that those coins are good to invest because already many people are following this coin.

But we should know one thing that money will not come so easily for everyone because some lucky guys can make easy money but not all.

It is not Okay, I joined telegram group because I believe they have something good to add to me, so if there are incentives for me o join a group, this is a big concern, people should know nothing comes free, you either pay for it in cash or in kind. I think some project do airdrops too and require for one to join their telegram group to qualify

The number of participants in the telegram group directly affects on some investors. They believe that the more participants TG group has, the more successful the project will be.

Those airdrop getting crazy now. The coin which gives many airdrop like that most of them is not worth anything. Look at legit project like xyo, shivom, auctus, essentia. They are not giving away airdrop $10 per account for only joining telegram. Bounty is not airdrop bounty is different thing. We need to work to get paid in bounty but airdrop $10 for only joining telegram is crazy.

I think it's just all about the market if we have a buyer for product why not? Maybe they pay more for telegram and less for another advertisement who knows?

The most i've got paid for joining a telegram channel was 84 Credits, which were worth even 60$ at some point.
So they really pay, there is no scam there. They just want to increase the number of followers.

It's not like that mate.almost all the ico have the Telegram bounty  to attract a initial crowd . Telegram crowd is becoming a important factor in judging the ico quality so you don't have to worry.

It's called advertising. Indeed it's a poor approach to developing new products, but when you think from a logical perspective, the rate at which new coins are flooding the market, it's very hard to keep the attention span of prospective clients for too long, especially when your proposed product has a competitive market already trading. Most developers and community managers resolve to this 'incentivized' method of advertising just to gain more attention and pull the crowd.

If they are willing to give that much money just for someone to join their telegram channel, it usually means that they aren't able to generate interest in their project any other way. That is the only explanation why they would do that.

If their project is actually good and worthwhile of investing, then no way they're going to give away their tokens for that cheap.

You're right, competition in the airdrop scene and some ICOs seems to revolve around how much projects pay for people to join them these days, not how good their business models are.

The number of people in telegram attracts the investors to invest in a project. Most of the time, airdrops and high amount of bounties help a project to become more popular. When there are thousands of users in telegram, many people their will think that the project they joined is good and popular. The potential to be successful depends upon the members of telegram also.

It is an easiest way to organise community for project. Especially if project has not very interesting idea and it's an only way to build the project community. In addition it helps to spread product between, people to make it a bit popular and useful.

Your analysis is right. Projects or companies that offer promotions like this are probably offering coins or tokens that are worth nothing. Why would a company offer $100 just for joining a telegram group? If it was legitimate they would lose a lot of money for something almost useless.

Remember if its too good to be true its probably a scam.

It is a good way to grow the community because marketing is now very limited. you can't advertise on facebook and twitter you can only offer airdrop and bounties to attract people to your ico. it does have a drawback if lots of dumping occurs from the giveaways when the trading begins.

I think it is good marketing, and by giving airdrops or free coins, their ICO will be noticed, because everyone likes free cash, and if the devs are active.on telegram you can ask them all about the ICO and what it is all about, you can even help in creating the roadmal for the team, however it will depend on your negotiations and skills. Though it is a good thing for devs to be giving out free cash to everybody, some do have a catch if you want to receive their free coins, you first must.give them money, if.you see ICOs like that, check everything from the team, if there is no white paper or an active dev, do not join and do not simply give away your money, it could be a possible scam, be careful.

Most of these airdrop programs are scams, so be careful. But they also do not require us to do anything just to participate in telegraph and messaging in their group. Join if you want to, maybe learn more experience.

It is just an advertising and just a part of this business
Telegram group size is one of indicators which some investors use before to invest in project

It seems to me that such an artificially created interest in the project distorts the real picture. Now it is very difficult to understand the community's interest in the project, being guided by such indicator as the number of people in the telegram of the project channel. The newcomers do not understand this and think that all these people are really interested in the project, in fact it is not.

I don't think there is anything wrong with that as long as it is not a scam projects, people have joined so many successful airdrop and their testimonies have been amazing, the likes of Havven and Cofi did airdrops also and I know they are legit projects, if it is to build a strng community around their project that is a good thing

Actually $10 isn't big money if you are first world country. If you are planning to create hundred million dollar aştcoin project you may send everyone $10 worth altcoin easily, with good sponsor. This is my take on it.

This kind of advertisment is too bad for the project/company/ICO.
Because Imagine joining 50k telegram users and the reward is in average $20 ($10-30 as you mentioned), the total of only the telegram users who joined their telegram channel/group is $1M
Giving away 1 million dollars for just joining telegram is (I think) a waste of money and a waste of their value of their token/coin, this for me is unacceptable but they know how to deal in this open market.

Most coins that you will get now cost nothing or cost so that commission in eth blockchain will be higher than the cost of tokens. May be some people got lucky and find very few ICO that can give more.

My opinion that such marketing is first sign of scam team. If you can offer people money only for their interest to project/ICO than it mean so poor idea. And not important how many to pay. It is important to whom and for what

No. For example Open Collectors Network didn't pay anything and the community now has around 4900 users  ( didn't went public 100%, because private sale is on going )

https://t.me/opencollectorsnetwork

It's just a matter of researching it, however marketing strategies of ICO now were quite impressive that it attracts many participants, if the budget allocation is on bounty type then its fine, but if just joining you'll be readily pay it seems to be scam or having referral or Ponzi.

Some of them don't offer realistic offers for the telegram joiners and airdrops, setting a specific price to each participant then the next day of the release to exchanges when the payment was in token the price drastically drops to -50% because of the bounty dumpers and investors, when the gas price was more expensive than the actual pricing of the rewards is truly frustrating, some of the projects offer a pools of rewards to share with each participant stakes, the problem with this method is the total numbers of the participants and the total amount of airdrops pool allocated.

I will steer clear of such channels. There is a saying in economics which goes like this "there is nothing like a free lunch". One way or the other either you will pay it back double or more, or someone else will, in a negative way that they didn't intend. I may be wrong, but such projects that pay for people to join their channels do not even show confidence in their own project. All they are doing is to create a pseudo following, for others to think that they are doing well, which in all plain sense of it is a smokescreen hence a scam. This is a good indication to investors to know projects which do not grow organically, and are probably just rushing to make millions; when you rush you make a lot of mistakes, and the project crashes along the line with a lot of invested funds.

Each project chooses how to promote its product. The main thing is that the project has a good idea and a team.

Since this is not the team's own money, but the money of investors, the project team decides how to dispose of them.