 |
January 11, 2018, 09:05:58 PM |
|
I'm seeing a lot of new pop-up shitcoins, especially in the Tokens section. Let me get this out of the way, there is a potential profit to be made on any coin, scam or not. But i'm going to give you some insight into the tricks and manipulation that you can be caught in with any ICO, especially ERC20 Tokens.
There are several coins that are cropping up that have been marked under "disruption of X industry," we have coins that backed by distribution, gigs, music, writing/publishing, the same old backed by gold or piss, and the list goes on and on.
To all you newcommers there are 3 things you need to do before you invest in these absolute garbage coins:
1) Watch out for the puppet accounts. When big money is involved, creators of said shitcoin will do a lot of preparation beforehand, that means creating a lot of puppets and creating an illusion that there is demand for that coin.
2) Scam ICO's. This is more difficult to detect, but the first thing you should be doing is searching BTT history for a similar coin to the one you're about to invest in (time or money), chances are, it's already been done or has been tried. Scam ICO's are often hard to detect, especially if the creator was investing a lot of time and $$ into it.
3) ICO's that are greedy, which in turn can be labeled as scams. Have you ever wondered what half the income for ICO's go? Guess what, it's not to the coin you invested in. Coins have little to 0 maintenance to maintain, the bulk of money these days are being funneled back into advertising and grassroots campaigns. Despite that, ICO's that generate $10+ USD is fucking absurd. You really think it takes $10million USD to make and maintain a coin. FUCK NO! And guess what, you should be very aware that when these ICO's are started, there are planned investors behind the scenes. These investors are investing in the coin, but are guaranteed to receive their BTC back after the ICO is done, plus the coins they invested in. It's called collision, and there is a shit ton of it occurring. The chances that an ICO has actually generated $10 million dollars is very slim, again it's because big whales are making deals behind the doors to trap you.
Ontop of all that, there is a new thing were devs are claiming part of the coin they are making, Founders rewards, the infamous "Foundations LOL" and shit like that. Sometimes ICO's are putting aside nearly 30-40% of the entire fucking coin supply. Like wake the fuck up before you invest in this nonsense, and be more critical and express your concerns.
Don't be a sheep that follows the herd, do research and give the coin some thought before you invest.
Feel free to add to this list, these are just some of the warning/scams that are occurring these days. You can end an ICO before it's even begun, by just speaking up and being critical about it. Repetition of this will make you very astute when it comes to any ICO, and you will eventually come out with bigger gains by investing in the right projects, instead of just following the herd.
|
