Bitcoin Forum

On this section (altcoins sections) a lot of scam projects are been promoted and we are really in problem if this is allowed to continue as many of us in way has lose money investing into one project or the other. My concern is how do we deal with this people who are ready to used cryptocurrencies for their scamming activities.

The best way possible is to create a regulatory body that we oversee and control these projects, so that when a ny of them fail, or are proven to be scam projects, certain punishments or whatever can be given to them. Maybe they get banned from the crypto industry, or their transaction rate and any other related stuff is limited.

Scames are spreading all over the crypto and this fact is very annoying for everybody here I suppose. Your position is quite clear here and I really agree with it.

I don't think that there is a significant way we can individually deal with these scammers, that's why I'm in strong support that a body should be set up to regulated these ICOs, so that it would be quite easy to punish those that  end up being scam projects. Maybe they get banned from the cryptocurrency industry, or something of such, as punishment.

I don’t think they can punished in any form
The only thing that can be done is a refund to every investor and that happens only when a regulatory body is put in place

It is investors that needs to be smart while investing
Invest wisely without fud or fomo

I'm no longer surprised at this, people are so created to benefit from everything and everything, without thinking about others. We are selfish. And the fact that moshoeschinstvo flourishes, it's already a problem, what are some changes to the standards of ICO regulating laws.

There is nothing we can do at all. This fact is very sad bad I don't consider that it could be solved in the nearest time. Teams are not so stupid to be under the attack.

the best way to deal with these scam projects is to set up a regulatory body to control them. When an ICO is set up, they have to be a committee responsible for them, so that when they pack up, or when they do not meet up to standard, they can be penalized or punished easily. It is because they are not accountable to anyone that they do all the scam stuffs that they do.

There is a scam thread you know.
It is actually pretty active and people over there do their due dilligence.
Most provide evidence and the information is mostly reliable.
If people are too lazy to go over there and get scammed cause someone shills a coin in the altcoin section, then I have no sympathy for them.

Also, if you think scams in the altcoin thread are bad, just take a look at the bounty thread.
That place is insane.
There are so many shit projects with mindless people following and joining their bounty programs.
What is even more crazy, is that bounty hunters typically spam by copying and pasting so you will see projects that are clearly terrible having all these posts saying,
"terrific project!" or "Great team! Will fully support!"

This is really one very important subject that we have now on these streets. Something definitely needs to be done to keep these scam projects in check and control them. I think that a regulatory body should be set up for new ICOs to be accountable to. This way, it will be easier to fish out the scams, and deal with them appropriately.