Hello Everyone,
I recently came across many coins which were made to scam from the beginning .... putting up high ROI and huge returns compelled people to join the race and in few days time the dev's scoop out leaving large number of investors stranded and summing up huge loss ... some I know gather bits from there income and trusted a coin and invested in it... some had surplus to play around but ultimately everyone lost their money to some sneaky guy who made the coin... Im sure this is the way world moves but as an individual I seriously think that there must be a way to let people get what they lost so as to keep the faith in cryptocurrencies... as I personally feel that if this trend goes on I m sure everyone will turn around from cryptocurrencies... I would personally like few opinions from the community as to what can be done... please add to the list below what you all think
1. Take the source code off existing scam and turn it into a valuable asset so everybody who invested get the returns and more community joins in.
2. Keep up a system which keeps track of the developer and should compel them to regularly communicate so it dont get marked as scam.
3. ?? please add your view
Regards
I think your second solution will be so much complicated especially since there are coins who wants to promote anonymousity of its users. Which will then make devs unwilling to divulge their identities.
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For me one of the best way to avoid falling into scams is to first study and research extensively on the coin or token you wanted to invest with.
Do not be enticed simply because everyone is already investing on it.
Do your personal research first...
Well as far as I know people don't blindly invest they are either lured by high ROI's or they get too excited when researching this is what leads them to pitfall... best of all one should educate themselves and if all the active member's try to post few links through which a person can learn it would be very helpful for reducing the number of people falling into the trap...
Regards