That is the point, it said "No KYC required for bounty", then 1 week before the end (after 6 months) they said full KYC required, + a selfie! If they were honest at the beginning no-one would join this bullshit
This is not an acceptable behavior at all. To me this is called as betrayal. It must be an unreliable ICO if this has happened. If an ICO doesn't obey their own words how can the investors have faith on the project and the team. It should have definitely been a terrible situation for you. This is the reason why many potential ICO investors are backing out when investing in ICOs these days. I have myself stopped investing in ICOs for I know it will however turn up to be a mess. It's better to invest in a coin once it is developed and the project is functional.
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Up to what I understand your question, I can say that the ICOs are indeed to be blamed for their bad reputation. ICOs have been in the limelight since the last years when hundreds of ICOs launched every month. It has been the year of ICOs the previous year and the obvious results(i.e. Scam ICOs) have turned many faces down. It has become obvious that ICOs are not going to be trusted anymore since a lot of people have been scammed from the last year. I guess only the truly potential ICOs will be trusted and supported by the crypto community now.
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It is not at all recommended to put all your savings in to just one asset. The experts say to diversify your investment on to various assets so that when the price drops, not all of your assets go down in value. You might have heard of the phrase " Don't put all your eggs in one basket" applies well here. If you put all of your investment in one asset you might end up loosing a significant portion of your investment if that asset crashes in price. So that's a very risky thing to do.
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I know it's quite tough to judge that when to enter a bull run and when to exit at the right time. A single mistake can decrease all your gains. I have been facing this issue and that is when I decided to limit my profits and dedicate a % of amount for the profits.
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Bitcoin and Ethereum are obviously the best coins out there for a long term holding. They are the most potential coins with a larger community. If you want to invest in a coin for a short term then EOS, XRP, BCH,ADA are some good coins to start with. The most profitable coin for me has been ether due to it's low price and larger volatility whether it is for short term short long term.
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It is absolute foolishness to believe in predictions these days because anybody with a few hundred BTC's can pump bitcoin price and manipulate it. Like the recent pump we had when BTC price reached $7500 and the next thing was it went down to $6500 now. So it has become pretty hard to believe any predictions now and only serious big news can lead to a long term increase in bitcoin's price. This is the only way to wide adoption of BTC.
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You are right but you know most of the people are just here for the sake money. Very few are actually here because they believe in the technology. Satoshi's view for bitcoin was that it becomes a globally accepted currency eliminating any middle man in between their transactions. But people are using it as an asset and hence it is a decentralized currency the volatility increases it's price, profiting the investors. A large part of the community is here just to trade and gain more money. There is pretty much nothing we could do about it because of the negative publicity of bitcoin. Let's see how it goes forward. I am really excited to see how a world changing currency ends up survives ![Smiley](https://bitcointalk.org/Smileys/default/smiley.gif) .
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I think bitcoin is already the widest adopted means of payment than any other cryptocurrency. The virtual world is getting expanded day by day and with the increasing community the growth of bitcoin community is also increasing. I believe that if any currency that is going to be used officially then it should be bitcoin. Bitcoin has been dominating all the other cryptocurrencies since a long time. It will soon even more adopted since it is in the limelight these days and once people get ti know its advantages then it will be used even more. It's just a matter of few more years until bitcoin gets accepted in many other places.
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It's actually hard right now to be considered as an early adopter because it has already been almost 10 years now since the release of the bitcoin network. The price also has been raised so much since the beginning of 2009. It depends on the time and price of the bitcoin now. If bitcoin survives in the long run then we will be considered as an early adopter. If the price of bitcoin raises more than it is right now then we will be considered as early adopters.
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You can sell your altcoins when BTC price is high when paired with USD. This means that when you sell your alts, you will get less BTC the amount will be more when paired with USD. Also, if the price of alts is rising while BTC's price is not then it is a good time to sell the alts. It is often seen that alts price keeps depreciating when the BTC's price increase, hence it is the best time to sell the alts when BTC's price and alt's price increase.
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Yes it does matter if governments and banks starts accepting cryptocurrency because it will open the gate to many other people to join the crypto community and start investing in cryptocurrencies. It is always better for bitcoin to be regulated and accepted rather than being banned. The bigger the community is the wider the adoption will follow. When many people starts using cryptocurrencies, more money will flow into crypto and the coins will get widely distributed thus the value of coins will get increased.
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I don't think artificial intelligence would be useful in the crypto market in anyway because it is hard for a human to determine whether a project is scam or not. How would AI find if a project is scam or not ? Most of the ICOs tend to pay money to the ICO review sites to get good rating. If AI review those sites to make the judgement then we are bound to invest in a scam project. Besides that, nobody can guarantee when an ICO could take away your money and run away. In order for AI to detect the scams, we have to be able to detect the scam projects ourselves to develop such an AI to detect scams.
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Good that you found it out and posted it here. It is good to make people aware of such scams. One obvious reason to research over the coin prior to buying it is different names. It's quite fishy that they both have different names and hence we could figure it out that they are not the same coins and obviously a scam. The different smart contracts was a good method to find out if the coin is the same as developed by the owner. Also, if the price difference between both the coins is huge then we can figure it out that something definitely is wrong because there can't be a huge price difference in arbitraging.
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You have written so much that your question is not understandable. What is your point/question ? I ll anyway answer what I understood.
1. A person should only buy a hardware wallet if he wants to hold the coins in there for a long term. The hardware wallets are created to keep the coins offline and secure.You should not be using it if you want to trade coins on a regular wallet. 2. If a particular wallet offers you any kind of rewards then it depends on your preferences whether to use that particular wallet or a hardware wallet. The hardware wallet will provide you safety and no rewards whereas the other wallet will provide you rewards but no safety.
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The bitcoin ledger is public because it was designed to stay publicly open for everyone to verify the chain of transactions. It doesn't hinder the anonymity at all. In fact, bitcoin transactions were meant to stay anonymous and making it publicly open to verify doesn't mean that it is easy to crack down the owner of the transaction. Even if you find out the particular address of a person, it will still be almost impossible for you to trace the owner's identity since a truly decentralized wallet has no link with the identity of the person.
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Good to bring awareness to the people. It has become really easy for people to inject crypto miners to users' computers. Using good antivirus may keep you safe from such miners but it is always safer to be aware of what your system is doing in the background. It's easy for geeks to identify what's fishy in their computers but the noobs are the ones who get affected by such malwares. This is why I advice people to learn more about computers as I see the future lies in technology and computers and one must know to tackle such problems.
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10% in a week is an achievable target as the top cryptocurrencies swing about 10% in a week. Make sure that you don't invest in shitcoins just for the sake of earning 10% because you won't be able to achieve that goal every time. Sometimes you might earn less and the other times more. Consider placing stop loss orders to secure your capital and don't get in the greed to ruin all the profit you made.
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You should have also told us how did you fail so that we could have told you what mistake you did. It's actually good that you failed because a person always learn something new when he fails. Besides that, you can' succeed every time when it comes to trading cryptocurrencies. Even the best of us have been failed at least once in his lifetime. So it's okay to fail, move on and keep learning new things.
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It's very true that a mentor can monitor your studies and practices and can guide you better than doing it by yourself. A mentor can point out the mistakes you do and can guide you the right path and strategy to learn new things. It's not necessary that you find a person in the real world since you can find a mentor these online on forums and various channels. Discord a good place to start where you might find groups who trade regularly and support and guide each other.
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There has to be Global Regulatory Authority which all ICOs or crypto related project must pass due diligence test before even commencing any form of bounty and token sales.
Don't you think that the so called Global Regulatory Authority will then eventually take away the concept of decentralization ? Only the people from the GRA will be able to pass an ICO which means it will be a centralized authority. Also, it doesn't mean that if a GRA has approved an ICO to be launched it won't scam the people. The ICO can still scam the people anyway.
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