Hi everyone,


What happens right now in the crypto space is both exciting and horrifying.

Why exciting? The worldwide landscape is changing thanks to Blockchain / DeFi projects that bring real value. We are living in a beautiful era - Web3.0 - where anything seems possible ( NFTs, Finance, Stakings, moonshots, etc. ).

Why horrifying? Because you can lose everything in one day. More and more scams are taking place. I personally have been targeted hundreds of times on social media by bots or scammers, pretending to invest/manage crypto on my behalf. I got dozens of emails, 'blackmailing' me by asking BTC to a specific address, or else I'll find myself naked on the web  Grin Grin Grin

But these are not the worst scams yet. At the moment, the most dangerous scams are coming from pump&dump projects and crypto influencers.

We all know what a pump n dump means. Let's focus on the crypto influencers.

Basically, every new project wants to generate awareness and exposure to the crypto community fast. The solution? Influencer marketing.

The process consists of contacting the influencer, presenting the project, and getting a price quote from him. Usually, the prices and humongous and the execution is, well, really really weak.  Thousands and tens of thousands of dollars for some tweets/posts with your own copywriting. Yeah, that's it. That's how weak their execution is - copy-paste, then cash in.

Fake ICO's, pump&dumps, and other shitty projects are being presented to moonshot seekers, wanting to get rich overnight, but ending up losing everything instead. No quality control, no research whats so ever.

 Shocked Well, here is where things get optimistic. What if people could be held accountable for their actions? What if this accountability would be stored on the blockchain?

This is what Coreto.io has been working on for the last 2 years, a platform to hold people accountable for the information they share. Their ALPHA will release somewhere this spring and i am very excited to be riding this wave early.

Find out more about their project on Twitter or www.coreto.io. They also have a telegram group where you can discuss directly with the co-founders (https://t.me/Coreto).

Cheesy Hope this post sparked some interest regarding the lack of trust and transparency. Have a great week everybody!  Cheesy
 

Fivestar4everMVP thanks for your reply. This is one of the projects that I believe in, along with bigger players like ADA and EGLD.

You mentioned something interesting - anonymous teams. Well, Coreto has a very "public" and open team, especially on Telegram.

The trust issue in crypto is something that bothers me a lot at the moment. See projects like Meerkat, with a 31M$ loss in a few minutes. I myself am pretty skeptical about things in general. This is why we have to be as educated as possible to catch the red flags before doing anything.

That's correct - put at least 20-30 hours of research, go deep in every rabbit hole on Google, YouTube, and other platforms before investing your hard-worked money.

Hi Daodex, in my opinion, we have to place our trust in some things at some moments. Look at the whole financial system - it lives on the idea of trust. Surgeries in a hospital? 99% of you don't know the doctor, but trust his skills. So, I would say this also applies to the crypto world.

We trust the hardware wallets and their technology to keep our funds safe. We trust exchanges like Binance to send into our accounts the bitcoins that we buy.

Trust. I think a big percentage of this world works on trust. Especially everything regarding money.

After all... we trust a piece of information on a blockchain to bring us future gains.

Well, @20kevin20, censorship has no place in crypto, of course.

The pain point most of the crypto users have is the lack of trust in the so-called crypto influencers and their crazy shilling attempts.

Grooming projects, sending price signals, etc.

Now that we have an open ledger, I think we can combine the censorship of data ( the core of Web3.0 ) regarding transactions & other information, but also have 100% transparency regarding price predictions/project promotions, etc.

How many would have the gut to really start pushing forward only reliable projects, with solid teams, marketing activities, and results?

  Hi, larus,

I will explain my point of view since trust is a sensitive subject.

  Generally speaking, I'm very skeptical in life and trust has to be earned IMO. The way I go about trust is by fact-checking everything I get involved in ( may it be a conversation or a business association ). Also, I personally choose to be transparent on the web, starting from using my real name up to making everything I post or share publicly.

So, I never ask people to trust. I ask them to fact check, research, and make a decision based on their own knowledge.

  Now, if you are referring to the project I mentioned in this post, Coreto, take a look for yourself in the Telegram group, on their social media and website.

I hope I was able to offer a useful point of view.

Hi everyone,


  This is my first post here on the Bitcointalk forum.

What happens right now in the crypto space is both exciting and horrifying.

Why exciting? The worldwide landscape is changing thanks to Blockchain / DeFi projects that bring real value. We are living in a beautiful era - Web3.0 - where anything seems possible ( NFTs, Finance, Stakings, moonshots, etc. ).

Why horrifying? Because you can lose everything in one day. More and more scams are taking place. I personally have been targeted hundreds of times on social media by bots or scammers, pretending to invest/manage crypto on my behalf. I got dozens of emails, 'blackmailing' me by asking BTC to a specific address, or else I'll find myself naked on the web 

But these are not the worst scams yet. At the moment, the most dangerous scams are coming from pump&dump projects and crypto influencers.

We all know what a pump n dump means. Let's focus on the crypto influencers.

Basically, every new project wants to generate awareness and exposure to the crypto community fast. The solution? Influencer marketing.

The process consists of contacting the influencer, presenting the project, and getting a price quote from him. Usually, the prices and humongous and the execution is, well, really really weak.  Thousands and tens of thousands of dollars for some tweets/posts with your own copywriting. Yeah, that's it. That's how weak their execution is - copy-paste, then cash in.

Fake ICO's, pump&dumps, and other shitty projects are being presented to moonshot seekers, wanting to get rich overnight, but ending up losing everything instead. No quality control, no research whats so ever.

  Well, here is where things get optimistic. What if people could be held accountable for their actions? What if this accountability would be stored on the blockchain?

This is what Coreto.io has been working on for the last 2 years, a platform to hold people accountable for the information they share. Their ALPHA will release somewhere this spring and i am very excited to be riding this wave early.

Find out more about their project on Twitter or www.coreto.io. They also have a telegram group where you can discuss directly with the co-founders (https://t.me/Coreto).

  Hope this post sparked some interest regarding the lack of trust and transparency. Have a great week everybody!