Bitcoin Forum

  Correct me if am wrong over 90% of initial coin offering ico of late turns out to be scam project and a good deal of this project loves to create awareness for them selves so that prospective prey(investors) can come in.

    Bounty program - this are program set up by project where individuals are paid most times in there token for completing a set down task. This is a mutual relationship program between managers and hunters. There various aspect of the program
*signature campaign
*social media campaign
*content
*blog.  E.t.c

   Scams are every where in cryptocurrency especially in the ico sectors and most individual are against it but has it occurred to us that we might be playing our part in advancing scam and working for scammers. Engaging in a bounty program that is organised by scam project has definitely  made you a member of the scam as well.

consciously or unconsciously you have promoted scam be it wearing there signature or writing articles for them or what ever work you had done for them you have become an accomplice in the crime.

  How can we prevent ourselves from not promoting this criminals well like the doctor would advice for you to prevent STD stick to one secure partner. So is cryptocurrency the best is to work for project that has link to already trusted and established coin well some of them are quite selective about who will work for them you can still do a good research about the project you want to work for don't be in a greedy rush to join and if at anytime you know that there are a scam do well by cutting partnership and report them.

Let's stop aiding this bad egg in there scam schemes

Scams are most times elaborate plans set to trap unsuspecting and ignorant investors, and bounty hunters are also caught up in the scam.
Except members of the inside team, no third party consciously works for a scam project, and hunters are also affected as a scam project has no futuristic plans or desire to fulfill their promises, so their efforts would be in vain.


A project built on another currency is not a guarantee that it isn't a scam.
And it's so easy to build, a project on another platform.
Reason why tokens are more common in ICOs than coins.


This forum does not regulate scams, if discovered (or you suspect a project to be a scam) you can report their project developers' bitcointalk accounts and also that of the bounty managers and they would be given negative trust by DTs on the forum if it is proven beyond reasonable doubt.
For extra measures you should look outside the forum and maybe seek legal actions.

Greed is what lead them to engage in such act. As a Crypto community manager, I have rejected several offers from so called project founders asking me to manage their social media accounts, most of them been project with intentions of scamming through selfdrops. Same goes for my airdrop/ICO channel which hard over 20k subscribers as of then when I was still an active promoter. I didn't just promote them because they paid. I rejected several offers which i suspected to be scam (even though I was wrong in some)
https://i.imgur.com/3VfDnUV.jpg

OK few months ago I decide to partake in bounty campaigns (the one I'm currently on is my first and I did my research before enrolling). Belief plays a major role in this, some of us want to really create a name for ourselves in the Crypto-community, the little ways we can. weren't just here for the money. Good name is better than Gold. If I was to discover a project is a scam I'll disassociates myself immediately from promoting it in what ever way I was and other hunters/managers should try to do the same .

Yes it is, that's one of the reason to scam people to earn "EASY MONEY". Scam is one of the easiest way to get money from people especially from investors that he/she earned his/her from hard work and lose in a blink of an eye. Security and safetiness is needed in most situation to prevent losing money.

It's very hard detecting a scam project form the onset Even with a good scam analyses on the project you might still get involved in one. You advice to stop when scam is noticed is quite nice.

You say it 10% of them are legit. And is a real problem, if all of them were scam would be easy to ban them, but since it start as legit business is hard to detect which of them are scam. And when people detect them is already late, they have run with the money at that point.

But i'm with you, i think all icos should be banned, they are the new ponzi scheme

Bitcoin has created a large digital market which consists of thousands of alternative currencies which are also thriving, and some of them went down the crowd funding road and had an ICO.

They can't all be thrown under the same bus, the figures is almost holistic at times, as I commonly hear that 80% of ICOs are scams or failed projects. But there's always that minority, the 20% making a difference.

You have to be careful that you dont mix up unsuccesful projects with projects which really want to scam their investors. "90% of ICOs are scam" is simply not true, 90% of ICOs dont reach their targets, fail to launch they projects, run out of funds etc., but a minority of them has the intention to scam people.

I don't think the action of supporting scam through working for scambounty project is a deliberate involvement by bounty hunter in fact bounty hunter and also investors are affected if it turns out to be a catfish scam

Sometime ago I came across a report (see New Study: 80% of ICOs are Scams, Only 8% Reach an Exchange (https://news.bitcoin.com/80-of-icos-are-scams-only-8-reach-an-exchange/)) that stated that that the figure of actual scam ICOs was around 80%, another 11% failed or died in the process, 8% reached the exchanges, but only half of those were successful.

The thing is, people bear the signature, carry out social media tasks, and whatnot for an ICO, generally based on the crypto income they think they will gain from it, not caring generally for what the promoted ICO is all about. This works both ways, as the ICOs generally don’t care either for the quality of their posting representatives (I find few exceptions to this observation).

By the above statistics, one is more likely to enrol in representing a scam than the opposite (worse still if they invest in it). What is not that easy is to distinguish a scam from a legit ICO, even if one goes through the theoretical due diligence process of reading the whitepaper, checking the team’s profiles, contrasting multiple sources of information, thinking through the rationale of the ICO’s need of existence, and so on. These steps may (or may not) be taken by an investor, but an anonymous profile promoter will generally overlook them. Even so, chances are that one will error in the judgement, as there is no certainty whatever you do (perhaps a better ground for more favorable odds at best).

It is difficult for a beginner to know the difference between real and fake projects, so they trust in old people "legendary members [they paid for that]" and positive ratings on Google and other such axioms.
There was a promotion campaign[1] designed to facilitate the establishment of such campaigns, which unfortunately contributed a lot.
It is difficult for people to think when there is a lot of easy and quick profit.


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Scam is very much frowned at in cryptocurrency ico are turning out to be more and more scam heaven but it difficult to detect from just white paper or the team so I don't think bounty hunters are to be blamed

   The high rate of scams is ico can be very scary. Individual just go into project without even knowing the motive behind the project.

That's why we have more Rockie and inexperienced individuals involved in shit project. The forum has a accusation section so I appeal to members to make use of that section when necessary. It's could really be frustrating to investors losing there earnings to scam probably seen on your profile signature. 

We might have caused the problem unconsciously and it forgivable but not helping to cure it is totally inhuman