Latest posts of: iconoclast

Quote from: DonnieMitchel on November 16, 2018, 02:53:36 PM

If there is a new ICO and there are hype going around it, how do you tell that i is a legit one and not just a scam?
How to tell if an ICO is a scam?

I generally treat everything as a scam unless I can verify information about the project from independent sources. I check the teams background by looking at their LinkedIn profiles looking for signs that the identity has been recently manufactured. If they claim to be developing a DApp or other product I look at their Github depository for signs of the work being done. I am able to eliminate about 99% of scams using this method.

Unfortunately many projects have intentionally delayed listing and token issuance because of market conditions. What they do not recognize is that investors and bounty hunters both invested time and money under the pretext that the investment would be made liquid by the issuance of tokens. Failing to seek a listing and and issue tokens in a timely manner robs investors of price discovery. In almost every case this delay will turn investors against the project owners and result in a large selloff when the tokens are finally listed.

I think that the market is already creating solutions that will help investors avoid getting scammed. Liquid, GBX and some other exchanges are now starting to sponsor ICO's so you know that someone with expertise has examined the project and judged it sufficient to list on their exchange. Another group called Crypto-Potential is building an ICO report platform that aligns the researchers interests with those of investors. You should always remember if you are getting something for free (like the "ICO Rating" sites) then you are the product.

There is no battle. BTC works as store of value. ETH works as a smart contract platform. XRP claims that it will one day be used for interbank transfers. They do not compete with each other any more than Google, Apple and Amazon do. People who believe that their will one day be a single coin that dominates all niches are deluded, and if it was ever to come about it would be something other than any of these coins.

WEEK#39: 11/11/2018- 17/11/2018

Campaign : Twitter
Username: @CMRoxburgh
Spreadsheet No: 62
Twitter Account: https://twitter.com/CMRoxburgh
Week#: 39
Twitter Links:
1.(11/11) https://twitter.com/CMRoxburgh/status/1061642584529891328
2.(12/11) https://twitter.com/CMRoxburgh/status/1062126254327980032
3.(13/11) https://twitter.com/CMRoxburgh/status/1062469515504607232
4 (14/11) https://twitter.com/CMRoxburgh/status/1062843431511240704
5 (15/11) https://twitter.com/CMRoxburgh/status/1063206794296619008
6 (16/11) https://twitter.com/CMRoxburgh/status/1063570378935566337
7 (17/11) https://twitter.com/CMRoxburgh/status/1063864511159889920

Campaign : LinkedIn
Username: callumroxburgh
Spreadsheet No:9
Linkedin Account:https://www.linkedin.com/in/callumroxburgh/
Week#: 39
Links:
1. (13/11) https://www.linkedin.com/feed/update/urn:li:activity:6468235506479140864/
2. (16/10) https://www.linkedin.com/feed/update/urn:li:activity:6469336155228856320/

There are very few places in the world in which your mining cost for Bitcoin are less that $2,000. If Bitcoin fell to this level and stayed at this level for any length of time it might mean the end of Bitcoin as Mining Farms all over the world would shut down from an inability to pay their bills. $2000 BTC would badly affect the price of Altcoins but the disappearance of BTC and other PoW coins might actually be good for the long term health of the industry.

Quote from: F.Developers on November 16, 2018, 08:01:02 PM

Quote from: MSTuTeJIb on November 16, 2018, 04:31:36 PM

How are you going to deal with manipulators in the market?

Which of the manipulators? Project owners or Bounty hunters?

Quote from: MSTuTeJIb on November 16, 2018, 04:31:36 PM

How are you going to reduce the number of scams? If the usual ICO assessment, you can not try

- First, we will try and verify all team members via ID if possible.
- Scrutinize the project carefully and decide if such project will be successful
- Pre-allocation of Bounty funds to us. The total amount of token or coins set aside for bounty must be paid to us first before the campaign will start, this is to protect Bounty hunter's interest.

You should not be working with any project unless you can confirm the Identity of all the participants. You should also control the smart contracts used for the funding of the project as it is the only way that you can actually guarantee that the bounty will be paid. The full amount of the money raised should only be released to the project doing the ICO once they have fulfilled all their bounty commitments including issuing tokens and getting the tokens listed on an exchange.

All just a part of the maturation process of cryptocurrencies. This sorry little episode is just an example that building an economy on the back of BTC, BCH, PoW, Miners and the immature people that hold sway over them is a fools errand. I have no doubt that cryptocurrencies and DLT will dominate in the future but it will because BTC, BCH and their dysfunctional eco system will make up only a very small part of that future.