Bitcoin Forum

It stops here.



Stop supporting obvious ICO scams. Don't add them to your signatures. Speak out against them, and stop defending shit coins. If we want to get more people involved in cryptocurrency, let's stop spreading these absolute shit coins and spend our time on what matters.

If you support this and are ready to stand up against these obvious scams by not selling out your signature to shit coins comment below.

I fully support your campaign, i think we should not support and promote fake or low quality icos and bounty campaigns, only quality icos and campaigns should be promoted.

I agree with you is a good idea, but sometimes it's very difficult to distinguish the scam from a good project. For example, I've already missed a lot of projects because I thought it was a scam

please don't use a silly hashtag  :-X

How can you determine what's a scam and what's not? WE CAN'T KNOW FOR SURE.Not every ICO is a scam(albeit most are).It's really very hard to proof an ICO to be 100% scam.

If you are really worried about this, then do a research and give us the reason to support you.Tell us which all ICO's are scam and why.Just making a post and creating a hashtag isn't going to help.

I really support what you say,
I was one of the victims of Ico scam,
So I went with you to fight Ico scam

Of course, not everything can be found and this isn't 100% bulletproof, however, if you stop posting bounties without doing minimal research then it helps. I will surely go more in depth with this and help locate scams. It truly isn't hard though, if you put in the time to research and know what to look for then it can be quite easy.

I always research all the bounty ICOs deeply because i was so many times painfully slapped so now i just do great ICOs but mostly there are not so many doing bounties lately.
hard times coming because they usually sell without doing bounty

You have my undying support on this matter. This ICO scams with shit coins should be stopped before it gets any more worse.

Hello dude, before you yell. Can you post here the name of the scam coins, and some proofs? I only join a bounty with high rating profile in icorating and icobench.

Sometimes fraud there are also many candidates to be cheated, so for me it is hard to know clearly ICO scams or being honest, it needs a very deep analysis and looking for a more accurate source, how much you are against fraud and unfortunately they also do not care, back again it's all just your own fault without finding out before investing, it's stupid thinking everything just wants instant.

That is the reason why ICO's are losing trust because of people who support that kind of project. They should really look at the ICO that they are joining to avoid schemes like that.

But the question is, how do you define or judge a coin to be an obvious scam? I coin that may look shitcoin to you, may look very promising to its investors or supporters. There is no base criteria where all can agree or evaluate about an ICO.

i support what you say, there are many post on thread which are not critical about their analysis. I hate those scammers trying to steal people money in the name of ico, i don't speak good of them.

This isn't all just about "scams" which I would guess means people stealing your money. However, lots of projects are in the grey area where they are raising money, and obviously, cant build what they say. It can be hard to tell if they are exactly spending the funded money legit.

But this to call all of the bullshit projects out.

As others have said, it's obvious what's a scam after the project disintegrates and the people flee... but I suspect there were those who called ETH a scam in the very early days.  People who invested early and held have seen huge returns.  Your campaign is noble but ultimately wont go anywhere because few people will agree on what a scam is.

Understandable incentive, but some of the ICOs are masked in such fashion, that its very difficult to identify the scam ones. Also the "scam" term is being thrown around very loosely these days, a lot of times the folks behind the ICOs are plainly too incompetent to carry out the process, but they dont have malicious intents, so its lazy to call them scams.

Yes, I am quite on your side as well. But isn't it hard to find and identify ICOs that are scam? Some ICOs looks shady but turns out that they are actually the legitimate one. But still, one day I hope that we are able to identify and exploit their scamming schemes to the public for the benefit of all.

Take my advice as a guide to verifying any ICO:
1. On preico, the team must have a contract for automatic transfer of funds with prescribed conditions for early investors - not handles like many do, namely those prescribed in a smart contract - otherwise the collected funds can simply enrich the funders or conditions will change during the play - cases of lots.
2. The contract for preIOO should be part of a large ICO contract - not different coins - it is not safe in terms of vulnerabilities and withdrawals.
3. The contract for preIOO and then the ICO should be registered lower and upper barrier - if this is not the team does not know what it wants - just a scam.
4. The contract for ICO should be escrow of the funds received as a result of placement - it can be a frieze or multisec with a voting condition. This will give you a guarantee against the expenditure of funds earlier than the team completed the previous stage.
5. In the contract, an unconditional refund should be prescribed in the event that the lower limit of the collected pool is not reached. It is in the contract and not in the white book, if it is not - scum.
6. All contracts must be posted on GithHub, this will enable third-party developers to check the contract for the vulnerability if the team has not taken care and before the ICO has not posted a bounty on the vulnerability.
7. The contract must specify the conditions for the team and for the bounty.
8. The contract must specify the conditions for not traded tokens - with clearly defined deadlines.
This is just my opinion on this issue, I think it will help)

It sound so easy to say. How can you determine if an ICO is going to be a scam or not. If we all can see an obvious ICO, then I don't think any one will ever loose money in an ICO. Everything is depended on insight, and knowledge about the would be project otherwise it will be difficult to stop them. I have witness and invested in ICO that has all criteria of a good project, team members profile on linkedin seems so powerful. Yet after they took my hardearned ether , no communication, no development and no exchange listing.

I support on this ofcourse. But the challenge here is how really sure we are that the project are totally scam?. In the first place, who wants to lend their signature if they know that they will not received their rewards and wasting their time participating in signature campaign. If you really serious to this move and wants to help on this campaign I think you must make a list of suspected scam project with proof.

You can lose your money in non scam ICO's or obvious shit projects. An example of a bad project but might not necessarily be a scam is the project in your signature right now.



Also, think about coins that seem like securities. Most of these tokens do, and most don't have direct world use cases so they are bad to even promote on this forum.

Well I have to say I totally agree to this but you think anyone will care ! . As long as they will get tokens in return they will keep support them . For me when I see a shady ICO or I think it is shady I try to warn people and never join in one . Look at the scam section most of the report happen when people get hurts only few people take time to report a project even if they are not got scammed by them .

I don't believe that anyone is participating in scam projects knowing what the project is. Bounty hunters are victim of scam projects as well.

I totally agree with your opinion. And I hear your cry. BUT how can you find out for sure what's ICO is a scam? I can do research and I can identify potential scammers but I can make a mistake also.

You cant convince people on doing such thing.Why? because people do needs money and they do hope they can able to get decent profits on bounty programs thats why no matter how the project would be potentially scam they would still participate on because of such hope and target on making money.This is just like do or die scenario.If you wont risk on promoting them then you wont earn tokens and this is just really entirely depending on potential investors.If no one would invest then they would failed up but still this common mistake do happen all over again and again.