Bitcoin Forum

We have all been hit hard by the rash of scam coins lately.  The instinct is to find a way to verify developers are real people.  The thought is that if you get the real name of a developer you can extract justice if he or she scams you.

Some in the community will USE this situation for PROFIT! There is no need for verification!  Bitcoin inventor Satoshi Nakamoto is anonymous STILL despite what Newsweek says!

Let's be real here.  People get SCAMMED because they get GREEDY!  You buy coins that are launched with PROMISES.  Well guess what, if you buy on a promise the odds are you are going to get burned.  The altcoin market has become a casino where the odds have slowly moved against the bettor.

I am the founder of Judge Coin.  I have voluntarily provided my personal data on the coin website!  I am not going to send my Drivers License to anyone!  If the altcoin market is going to demand that I send my drivers licence to someone I don't even know then I am out.  I don't have a personal facebook or twitter as those things can be used for stalking.  Why should I be punished with a lower trust score?  This is ridiculous.  

SCAM SIGNS!
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If you buy a coin that launches without a website, then you will get scammed!

If you buy a coin that is Ninja Launched, then you will get scammed!

If you buy a coin with a premine, then you will get scammed!

If you buy a coin with an ICO, then you will get scammed!

IF YOU BUY A COIN BASED ON A PROMISE YOU WILL GET SCAMMED!
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If a coin has a really great idea but needs money, tell them to start a kick starter or get private investors.  I pay for my coin's website and other startup expenses out of my personal funds.

People are following PUMPERS on Twitter trying to get 10x their money.  It is your greed that is costing you!  Even if you WIN you are costing someone else money that is LOSING!

STOP THE MADNESS.  Buy a coin you believe in.  Don't buy on promises, buy on what they deliver.  If you have made money in a P&D, you have hurt someone in the community!

A coin dev trying to get other coin communities to migrate to his coin which has never been heard of before? Classic

Judge coin is a SCAM

Yep its a jungle out there and some form of community verification is indeed needed or the whole seen will suffer.

Sounds like your one of the greedy ones above ?

Unless you dump the second it peaks, and never look back.

according to what it says above, you should keep away from altcoin market :D

Sadly the altcoin market is being manipulated all the way around.

all the stuff written above is in my eyes a 50/50 chance of getting scammed or not...

welcome too crypto 8)

I sort of agree with you. It's funny how everyone is clamoring to be able to do transactions anonymously, send messages anonymously etc etc etc and yet turn around demand that the developers not be allowed to be anonymous. On the other hand, you have to verify who you are on some exchanges (seems to just be for USD trading currently though) and it will expand over time.


Simply don't agree with that one. It really depends on how big it is and what the plans are for it. It's like the community thinks all these coins should be developed for free by someone in their spare time. Things are changing. If you want a coin with real longevity, continued development, marketing etc it's going to require premines and/or IPOs to pay for all that.

Thing is, I looked at some of the recent scam coins and none of them had premines. It just doesn't matter. They can mine the shit out of it at the start or, like USBCoin, put some other code in to do a "post mine".

I think that verifying developers cannot prevent scamming, a false identity is not so hard to fake by a real scammer, he will just have to do a little more work for it, and even if the real identity is known, it does not prevent scamming. I think that Devs are under a lot of pressure right now. Even if they are genuine, they are attacked for probably being a scammer, either to protect people or to dump the price in order to be able to buy in.

Some of my own experience:
* Don't buy into a coin in that will have a short POW period, likelyhood for being dumped becomes bigger when POW is shorter
* Don't buy into a hype without doing proper research
* Don't immediately buy into a coin if you think you have missed the boat and still want to catch it (it is probably at it's peak at that moment)
* If you want to buy into promises, see for yourself how realistic those promises are and look for something really inventive. Look for small starters.

My golden advise:
** Don't buy the coin of the day. Buy/mine  the coin that is undervalued and in your eyes should or could be the coin of next week (so that is no daytrading, it's actually an investment a la Warren Buffett)

there is always have kinds of scams,how to point out every scam

Those guys asking for drivers license to use as proof are funny, these dudes need to get real. This is crypto, people invest in coins, one makes profit, 10 people lose. That's life.

If you can't handle that, leave and not come back.

NEVER EVER send those guys a copy of your ID or Drivers license, developer verification is just ridiculous. The guys started with these nonsense should grow up.

Some scams are very well masked, you can't spot them, you only notice when it's too late.

I agree. Also my 2cents here:
https://bitcointalk.org/index.php?topic=718919.msg8132439#msg8132439

You will see in my 2nd reply why this is basically pointless anyways. You aren't going to find a scam by verifying the developer.   At least not all of them.  Likely going to just force good developers to give up money while the bad ones still scam you.

Your idea has already been done
look
https://bitcointalk.org/index.php?topic=703610.0

wtf is this scam popping in on a scam thread. scamtastic.

Hmmmmm.... A suspiciously rational post. What's your angle? :)
I'm gonna check out judge coin as it seems a dev exists who isn't setting out to scam with premines and promises for once! And fully in agreement... Startup funds need kick starter or dev investment. It's not the "community's" (if you call it that) problem to fund a dev. The product will do that.
Great post, I'll check out JUDGE

Agreed, bitcoin fails proof of developer so it's a scam obviously :D