Bitcoin Forum

Alternate cryptocurrencies => Altcoin Discussion => Topic started by: AwSaN on September 21, 2018, 02:17:28 AM



Title: How to spot a scam project
Post by: AwSaN on September 21, 2018, 02:17:28 AM
I will ask you to ask yourselves these questions before giving any rating:

1- Is it a sound business idea ? Does the idea makes sense?
2- Is the technology feasible ? Make sure this is not an impossible project.
3- Does it really need blockchain? If not, then how do they explain the use of blockchain ?
4- Is it an ERC20 or similar token or a new blockchain? and in both cases why ?
5- Does the team look legit to you ? check the linkedin links ...
6- Did you check their social media ? is there any activity ?
7- Do they have a prototype, mvp, anything ?