The scams are coming!!!

[Fatoshi]

I think it was Clif High that said he expects a lot of scam ICO's in the coming period.

I look at a lot of the ICO's now on ANNS and the quality really has fallen off a clif (no pun intended) Most seem like mocked up jpeg wallets and very basic set ups with only 1 or 2 names on the ICO that are just kids still at university. Tread with caution the real scams are coming!!!

[White sugar]

No shit, Sherlock.

Scams are everywhere in bitcoin since the early days.

[Pearls Before Swine]

Agree with ^^ totally.  This is nothing new here, and people would be well advised to NOT invest in these craptastic IPO scams, because that's what they are.  There is no stopping them, tho.  As long as the suckers keep buying them, the scammy devs will keep churning them out.

[RoooooR]

I believe scams are everywher specially on alt marketplace. The thing that's best to do is to be vigilant and alert in every ico you are joining or investing, always check the basic things, the devs, the use of the coin and imagine how feasible it is. I think all of us are competent enough to do it.

[Fatoshi]

No shit, Sherlock.

Scams are everywhere in bitcoin since the early days.

And I have been watching them since then as well. But this is a bit different I mean big scams that people set up ICOs and get millions and won't ever deliver anything or walk away. People love to use the word scam but I'm talking full on millions taken. Bitcoin scams never bagged anything like as much as the ICOs now. And most ICOs now haven't been scams, money grabs sure but not my definition of scam, i.e. Illegal. I.e. Guy sets up website does an ICO gets a few million and then logs out.

[bounst]

Many projects just come in to roll up money, they will not have the actual action or product. like TenX, Cliil etc, these all also scam possibly

[Herbert2020]

No shit, Sherlock.

Scams are everywhere in bitcoin since the early days.

And I have been watching them since then as well. But this is a bit different I mean big scams that people set up ICOs and get millions and won't ever deliver anything or walk away. People love to use the word scam but I'm talking full on millions taken. Bitcoin scams never bagged anything like as much as the ICOs now. And most ICOs now haven't been scams, money grabs sure but not my definition of scam, i.e. Illegal. I.e. Guy sets up website does an ICO gets a few million and then logs out.

these things are not exactly legal so you can't define illegal based on them being the opposite!

a scam in my book is when someone who has no understanding of anything googles "how to make my own altcoin/ICO" and learns how to copy paste. then makes a pretty ANN topic or some who want to spend a little more make a pretty website on top of it and then ask for money (aka start an ICO) for the job (which was copy pasting) they have done.

and with that definition there has been countless scams so far.

[berrygood]

It is normal situation in such a market, people have to be careful and should not throw their money to every ico.

[jeanpierre]

Yeah we need to be more careful there are lots of scam in the crypto world

[gomei]

Many projects just come in to roll up money, they will not have the actual action or product. like TenX, Cliil etc, these all also scam possibly

Are you sure TenX is an ICO project without a product？ I konw they have TenX pay Card.

[Tidsdilatation]

What i dont understand is how ppl throw money at these ICOs without doing proper homework first? Its pure stupidity. Dont invest if they only got an "idea", let them bring atleast an alpha version first.

[jnow]

After putting money on the PILLAR without doing my homework first, I can say I learned a valuable lesson.

I've been reading through a number of the whitepapers put out by most of the ICOs coming out in the next few weeks and I got to say BE VERY CAREFUL. I'm not listing any names as I'm not trying to promote any of them.

[Sowik]

Well everybody must be more careful. I personally will never invest in a project which doesn't need to be on the blockchain and can work without problems outside of it. With the current market situation people come here with their "projects" and start ICOs just to get money, nothing else. Their idea doesn't need to be necessarily on the blockchain but why won't they get some easy millions if dumb people invest in their project?

[Grant Hero]

Just wait until someone open-sources or white-labels an ICO template / solution.  Then we'll see 100x scams...

We need to collectively discourage and report scams as much as possible.  Otherwise, it cripples the growth of this industry...  

[Jenn09]

Scam is everywhere even in real life their is scam it is a matter of good decision or not, if you will invest in that particular site or not, it is your decision but be wise & vigilant always because your money is at risk if you not.Always think twice or trice made some research before investing.

[SMSabuj]

I think present world scams are everywhere especially on Alt marketplace. If you want to invest on ICO. So you have to know details of it and then You can choose a trustable ICO. But one thing, All are not Scam.

[Kohloe]

And I thought winter is finally coming...

TenX is valid. They have product and lot of marketing. One of the few coins which have a working product. and maybe 1 of 3 ICOs with a working product
You can order the TenX creditcard and start paying with cryptos.

[ethereumhunter]

I think present world scams are everywhere especially on Alt marketplace. If you want to invest on ICO. So you have to know details of it and then You can choose a trustable ICO. But one thing, All are not Scam.

yes there is scams around us especially in cryptocurrency because they have an opportunity to run investors money and this is why we need to be careful if we want to invest in ICO. but i think its really hard to know if someone is a scam in ICO because they can use other people identity to cheats people.

[irsykes]

even there is scam ico but it depends from ourself. we must choose ICO that potential and can make us get profit from it because so many ICOs which it is price fall down after listed on market

[jack1111]

Scam ICOs are not new to crypto, I think we need a real due diligence service other than the paid ICO rating sites, which make you legit as much as you pay.