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My friend suggest me joining a scam ICO project to "scam" founder of this project. He told me that you can buy it at the price didn't pump before and wait for x5 price.
By my experience, I read SANTA COIN whitepaper, guessed 99% it's a scam project.
I check the price in Coinmarketcap  and it didn't pump before.
So I bought 2000USD of Santa Coin and I feel confidence with my strategy. =]]
You know, after 2 months, Santa Coin didn't show on Coinmarketcap anymore. I lost all my invest because it can not sell for anyone else.
That is my experience "Scam the scamer". =]]
Tell me your story if you have one.

You did the biggest mistake because your method is like a gambling, not an investment.

We are here to make a money not to scam others and make money. Yes, some people want to make an easy money by scammers we can't do anything. I never did such things and if I know it is scam or shit coin then I will never buy it.

$2000 is not a small amount for many people here and you simply wasted your hard earned money by investing in known scam coin.

I see. From the beginning I believed it was gambling.
I'm too confident that I will win. Experienced!
Thank you for your advice.

That's gambling!

Funnily enough, you called it "investing". It is not, ints just blindly putting your money into something. That is something called gambling. You should rather find a legit coin/token to invest into.

And also, you had the red flag, that it is a scam, why did you put your money into it anyways?
 

99% of altcoins are worthless. New coins pop up every day that promise everything but will end up delivering nothing.

Masternode scams are rife.

You would be been better buying $2K worth of bitcoin.

Even the website has red flags all over

https://santacoin.co

I think it's not an investment, you are too brave to make decisions, bet and expect to win a lot, you can learn a lot from this problem, that you need good observation and analysis before acting.

I agree. You made a small mistake by putting this amount on a coin that does not inspire confidence. It's a gamble. You need good observation and analysis before acting. Fortunately, I do not have such stories where I would have lost a large sum.

Lol, I thought after 2 months you double your $2k  ;D , It's hard to predict what coins will pump specially shitcoins as sometimes they don't even pump. If you bought ETH 2 months ago you would have like 50%+ profit by now. Don't try to duoble your money on this way as you will only lose it try investing on much safer coin you wont get much but you will surely get some.  :D

i dun understand the part abt "scamming" the founder of the project though ... how does u buying into his scam coin result in him getting scammed again? even if the coin gets pumped later?

That makes no sense at all, how did you scam the scammer if you bought 2000 dollars worth of coin that is now completely worthless! It seems like you just threw away your money

I bought BTW for 9 satoshi. At that time it seemed to me a very promising project. And I thought that the project would bring a good profit. But the recent main dev manager wrote that he has not been paid for a few months already for the work done. Another scam project.

This is a terrible experience, but i cannot point out what case here that you scam the scammer, and yet you lose your money by buying 2000usd? Anyway it makes sense to reanalyze the situation, that you been scam and not the scammer. In some friendly advice, don't invest to a certain project, where there was no real purpose of having an ICO and no specific details on what project they will be focusing on, because we can lose a lot of money, by investing those ICO which are not really focus on what they really wanted to achieve. Money is important, that is why we need to be very careful in choosing the best project to invest.

My advice to my friends here, because they invest into the ICO to carefully understand what the project or an ICO really want to achieve, i mean read the whitepaper, review the team involve and carefully review the team members of the project if they were not previously engaged in the scam project.

Your experience serves us an experience too. Thanks for sharing your experience.

Generally speaking though, all projects using another's name for the brand awareness, is a scam. From Bitcoin socks to Bitcoin cash, gold, diamond. All of 'em scams of various degrees. Same goes for litecoin and other major projects' copies.

Even it is a scam sometimes you can earn from it. But be smarter and learn from this one.
If you hear something don't act right away, think about it few days and then decide what you are going to do.

I feel like you're too confident in yourself! Cleverness is mistaken for cleverness. A liar will never give you a chance to make a profit because his purpose is to cheat you of your money.

Thanks for telling me. This will be a good lesson for both you and others. I'm lucky I didn't participate in the Scam. In addition, I seriously approach the study of ICO before investing. It's a good idea to share experiences so others make fewer mistakes, thanks for the topic, I'll keep an eye out.

I've seen the bounty of this project, but I've seen it as a Christmas joke. I did not even think that someone will decide to invest in this project. I have always said that it is necessary to study the project in which you want to invest.

and nevertheless, there are a lot of people in the world who are very inconsiderate and too trusting, because there are always those who invest in such projects.

Your not serious with your investment, if you know it's scam then the first thing you do is leave and make an accusations on the proper page, don't play on something you can't take on.

Scammers are always smart and once you know that just avoid them altogether.It happened same with a certain coin,we were told it was a scam but we kept didn't realize it till it was over and now we have a bunch if worthless coins in our wallets.the lesson is avoiding scam projects as much as possible.

Maybe your friend organized this project? :)) Why did you invest in it if you saw that this is a scam? If you want to give someone two thousand dollars next time, please contact me. From me you will get at least gratitude.

That's why scam is still popular. Becouse some people keep paying money even when they understand that project is a scam. Behavior must be different - if you recognized scammers - wright a warning in all popular platforms. And don't give them a penny.

90% of altcoins are awful. New coins appear up every interval that pledge the aggregate however faculty edge up delivering nothing.

That's the result of being greedy. We have to be very careful on choosing what ICO's to be invested on. A lot ICO are very promising but once it was listed on an exchange they will all drop and gain at the same time. You have to checked the development team what are their goals and objectives of each project.

I think that earning on creating scam projects is the dirtiest money in the crypt, because everyone who does it realistically understands that investors in its project will simply lose their money.

There are many good projects. It is a pity that they did not receive your money.

fortunately I have never experienced such an incident, if in a bounty project I never fail to get a token because of a failed ico project or also a scam. from now on we must be very careful in choosing tokens or coins

According to statistical data made in 2017, 80% of the projects are deceptive. Please make less money when you invest. You do not want to lose your money, do you?

 I  have joined so many campaigns that have promised me so much but at the end, I got scammed and left with nothing so after several failures
I started taking it much more serious. Now I have gained a lot of experience in the sphere of Token Sales and by now I have had joined some successful campaigns and gained a lot of profit from them
There is a great diversity of projects for Token Sale, you can choose whatever you want, but you have to be attentive and study everything about the project you want to invest in. Recently I was reading about the new project - Socratus. It caught my eye. It is an insurance ecosystem which provides a digital platform for insurance companies. The aim of this project is to create a win-win insurance. With the ecosystem companies will be able to cut operating costs, create new insurance products and many more benefits. I suppose it fits the market perfectly.

I think that you make a big mistake to invest in a scam ICO. To be honest I think this is not an investment this is like a gambling activity. We should always avoid any kind of scam camapigns we need to search more about the project and be careful. Furthermore I don't advise people to invest with a high amount in some unknown projects which have the smell of scam.

after reading your story "scam the scammer" title is not appropriate . bcoz you tried to take profit from scam ICO , in you language you tried to scam the scammer founder of project . also you thought  as price never pumped so it will surely pump soon . bcoz normally people have a misconception that every coin is pumped once in its history for sure . So you simply put your big investment in a game where highest risk an high return , where chance of return were also less than risk . so you lost the money just bcoz of your wrong speculation .

For me, the scammers (especially in the field of the ICO) are one of the most bad issues in the whole internet and unfortunately, this often leads to significant financial losses, particularly for the beginners in any field because they start investing in ICO without having an acceptable knowledge of that area and many of them are easily fooled, that's why the number of scam ICO's in evolution over time. So everyone must be careful without choosing the appropriate coin or ICO for investing. And regrettably, you made a big mistake (OP), what you did is a big risk.

On the other hand, I do not have any story to tell, but I think that everyone (especially the beginners) must learn and read the basics of cryptocurrency before entering or starting in this area. And do not rush in order to make some choices, and of course a good strategy can help you to get a shortcut way for an acceptable profit.

What a terrible idea. LOL. Scam scam founder of an scam ICO project? I don't think you and your friend are smart enough to do that ;D.

If a scammer can create an scam ICO project to scam other people money so I think they're really good at scamming and the best option for you guys are staying away from these projects. But congratulation, you fell into a really good trap of a good scammer ;D

To scam the scammer is not a good idea because in the end it seems that you are victimizing yourself. I don't understand your point in doing so. You wasted your money for investing a scam ICO. Stay away from scammers if you are aware of them and keep your assets secured at all times.

Based on your story you already know that its a scam yet you continued on investing? That's a foolish and aggressive move I think, you think its a win-win situation but in the end your screwed. LOL

2000 USD , Is this post even real ?
Who invest such a huge value on a coin that is not even registered . This was like the biggest mistake ever . I believe that even though you know that the project is genuine , do not invest on it until it is atleast registered . Just invest maximum $200 on one project . You knew that the project was a scam then why give all the stakes to it ?

I checked the site and it is still running, if there was scamming happened it wouldn't be you only I supposed the site would have been down and not operating anymore because team would be hiding from a lots of investors. You should have atleast put your money to the establish coins instead of taking risks to those fake pumps projects. Atleast you now have learned your lesson and do you investing wisely next time.

A strange story about scammers, how can you be so carried on this?
You need to understand for what you give your money.

You do know that it is already a scam thing. All the thing you have done is really a pure gamble and theres nothing to be blamed but yourself. Coins that doesnt pump out once doesnt mean anytime that it would pump very soon. This is the thing you had believe and its not really a strategy but doing a gamble and you hope for hitting up that 5x profits which i do say it would really have slim chances.

Scam the scammer? its hard to do and one mistake it would cost you money.If you are lucky then you might gain but most of the time you would surely lose.

This is why it's very advisable to invest huge amounts in Bitcoin, little in alts and very little in ICOs

What !! you buy scam project coin. You are a totally a foolish person i think. In crypto market maximum are updated from time to time. So no body will interest when a project scam that coin also scam coin. Be careful in future when you invest any coin.

I even see that you have a scamming attitude when you know a project is a scam but you intended to play a fast one first ;D

You lost very big dough, I guess you have too much of it that is why you put such to scam someone else.

The biggest mistake is to buy a coin which is known a scam by you. You've been gambling and lost. I hope you do not deal with a scam coin again.

Interesting you had experience of participation in"fraudulent ICO". Why did you decide to take part in such an ICO? because of the fact that there was not so much experience or were you sure about the project?)

I think this guy has a little of experience in trading and dealing with the coins that's why he gamble for the sake of making a huge profit in return but it turns out that what they have been talking is literally real. And so, they fucked up, that's why we should have to be very careful of dealing our money into some foolishness to avoid regrets.

You shouldn't have believed in Santa!

You should show us which one is the scam coin and which one is the correct one bro. If you research about the project perfectly you will not gonna get scammed by anyone. So please think it and then invest it.
I see you have mentioned that scam projects equals to gambling but you are wrong in that I hope.

people who do not have experience in gambling and lose their money, will always negatively respond about this occupation.

The whole script is full of scam and I think that this is the biggest problem for the whole community. Because of the scam, many do not trust the crypt ..

Its so bad story :/
I have not investing in scams now,  I think for invest is better with huge coins, and trading on btc or eth

personally, my opinion of airdrop is a waste of time. 1. now a lot of machines that collect your data because on the black market is a lot of money. 2. there are a lot of airdrop fans right now - the more people participate the less your share. 3. You can earn only if you follow the top projects and as rules on the websites of the clippers with air such projects are not presented. of the last Andropov where you can earn up to$ 2,500 Dfinity. if you managed to make a subscription to the mailing list, you can still claim tokens of this coolest project. but unfortunately such projects are very rare

I still do not understand why you invested in a coin, which originally seemed to you a fraudulent project? I try to invest only in projects in which I have no doubt and I think this is the main thing in investing in ICO.

Absolutely that is gambling. You really know that coin is scam, and you kept spend 2000$ before? I don't understand your mind.

I did not lose that much money in the crypt, because I invest not more than 200 bucks. But several ICOs were really scam and in general I lost 600 dollars.

This is a very dodgy thing to too and a huge gamble on your part, hope it works out