Bitcoin Forum

Guys, I've recently heard about the telegram and discord groups of investors who collect their money together to invest as a whale and get bonuses in ICOs/IEOs. What do you think bout that? Is that legal?

As I know you just send your money to the admon of a pool without any guarantee. I'd avoid this.

I wonder how do they process KYC? As a one person? Who is this person?

Scams scams scams, just pump and dump groups where you profit till a point then money gets spread between older members, then its the same circlejerk of always, not many legit coins. ICO and such are ... sometimes legit, legality is kinda pointless you gotta stop scams and coins that only exist to mantain people without an actual use case not projects with vision.
However a great point is to know the project its possibilities and the team.

Stay away from that kind of scheme, there's a high possibility that whoever is the owner of that group will runaway the funds if he had enough.

Why join pools if you can invest all alone? are they promising that returns will be that much and all of you will make decent money out of this strategy? you are in the internet man and you shouldn't trust anyone with your money.

Don’t fall on that because its a trap and you will lose the money because they are scam, there’s no such thing as a fund manager in cryptomarket. If you can invest on your own do it, but never to trust someone to manage your money.

Run away from telegram and discord groups for investment pools! It's usually scam. There's no mild way to make it seem nice. That is just the admin getting rich with your investments. It's like a donation group for the admins. I'd advice anyone to give to charity instead, than loosing money because of greed.

It is not usually scam, but it is a 100% scam. The thieves, cheaters and hackers are using social media because it is the simplest and free way to get easy money, and they can repeat the same thing over and over again. It is not only about greed, but also because of a great ignorance that prevails among the people.

Knowledge is power, and when bad people have greater knowledge then good people the result is very unfavorable to good people.

Don't trust anyone with your fund online, at least not some strange people who promise you profit or investing other places, this is totally bullshit scam. In telegram,  there's more another way of scam. Be aware.

I hardly trust anybody on Telegram or Discord with my money. If I don't have the money to invest in a project on my own, I'd go to look elsewhere. There's plenty of scams out there on Telegram and Discord, and this can be an easy way for scammers to get money. Use your own wits and your own money and you'll be able to stay away from a lot of dubious or scammy projects out there.

Legal, yes, it is.
At least from your point of view until you reach the pay your tax in profit stage.

Will it work? Probably not.
I won't agree with Lucius here and I'll say that 99% of them are scams, the rest of 1% being made by guys who genuinely think they have found a way to predict the lottery results but they lack the money to make the "investment".
Unfortunately, the results will be the same as a guy who doesn't have 100$ suddenly receiving hundreds of thousands in his pocket will probably turn rogue.

Not only this but ICO's that are having private sales with bonuses are themselves shady, why would they offer 30% of a price they are themselves setting? A money grab scheme, with a money grab scheme on top of it, with no certainly you will get anything in return, dealing with strangers, seriously how many red flags do you still need? It's like a USSR army parade!


Do you think people who run this scheme would use real documents?
They don't care, and the guys offering the ICO don't care either.

Legal = no
Risk = yes
Scam = YES

Collections, contributions or any other related schemes that being organized in Telegram or any messaging platforms always lead to a scam. A legal entity or group isn't supposed to be work like that since legal = regulated.

I never heard of that scheme yet but even they are serious and will really spend the money on the real purpose, it's hard to rely on bonuses on ICO's and IEO's. Without being listed in the market, that bonuses are kind of a useless.

Just simply ignored them and don't let your curiosity leads you into testing that scheme.

It's just another big scam and very fast way to lose money. How you can trust random unknown person from Telegram or Discord witho your money? It's terrible idea. ALL these groups on chat programs related with crypto investments and similar stuff are made by scammers who are looking for naive vicitns. You should stay 1000 miles away from these groups.Why people are always looking for ways how to give their hard earned money to scammers...

To be fair, I've seen investment circles where people do pool all their money together and they are able to leverage their large amount of capital to ICOs/IEOS for a bigger token bonus. With a large amount of capital, if your group of investors is able to locate projects in the early stage that is predicated to be gigantic in the future, these early-stage projects will likely be open to selling their tokens for a discount if that means they'll have more capital for their main sale. This would be an angel investment circle!

Keep in mind, a majority of these are scams. Money that isn't in your hands is no longer your money, and the group could easily run with the funds or make an investment that you do not agree with - I'd personally only do this with a group of friends I know in person because I can trust them with my money.

About the legal side, I believe this a grey area, but as long as you declare tax and pay off all of that, you should be fine, I doubt the authorities will be able to find that you've done this anyway. Pay your taxes and don't draw attention to yourself.

This is most likely a scam from investors calling for investment. Telegram and discord groups have nothing to guarantee that you will get your money back with profit.

Key and bloody lesson is:
Don't leave your money on hands of others, when you want to invest in anything

Consequently, this is why crypto enthusiasts should not:

• Join investment pools
• Join shared-masternodes
• Give remote control of your computers to others, whom show intention to give you hands and help you to get out of your issues
• Store your money on exchanges/ mixing services for too long

Bad guys will always try to do attacks, so I don't mention about them here.
For good guys:
Time will change people, especially in financial area. It is more true in crypto area, when everything (price) changes extremely fast. Whales can dump and pump price within some minutes. Then, wrong decisions might cause people all things they have in minutes. As a result of that, who knows how they will react with their nightmare, with your funds in their hands?
Recent months, there are some bloody lessons for people who gave their funds to hands of others, for too long:
BitBlender (scam exit), BestMixer.io (government take over), GINcoin (masternode hosting service, that likely made scam exit)

Don't ever try to invest your money in someone's else hand and be expecting return with bonus. Remember the person you're giving your money to, you don't know him and there's no way you can trace if you runaway with your money. Don't ever trust anyone promising you much money when you invest in this ICO or IEO cos they are scammers