How to deal with the big amount of possible upcoming scam ico's in future?

[VTS]

Something like a community driven audit service!

[maursader]

Simply ignore them and they will disappear. They key to success or not to fall in this ico scam traps is a extensively due dilligence. The following check list may help to find out if the respective ico is legit or not:

• Is the team staffed with sectors insiders and/or crypto legendarys?
• Are the team members presented with real names or nick names? Avoid nick name only projects.
• Is there already a product in alpha or beta stage?
• When were the latest software development updates? Check Github or similar
• How many followers does the project have on Twitter?
• Are the devs or community managers active in Bitcointalk and/or Slack?
• Is there a hard cap? Avoid non capped icos.

[VTS]

Simply ignore them and they will disappear. They key to success or not to fall in this ico scam traps is a extensively due dilligence. The following check list may help to find out if the respective ico is legit or not:

• Is the team staffed with sectors insiders and/or crypto legendarys?
• Are the team members presented with real names or nick names? Avoid nick name only projects.
• Is there already a product in alpha or beta stage?
• When were the latest software development updates? Check Github or similar
• How many followers does the project have on Twitter?
• Are the devs or community managers active in Bitcointalk and/or Slack?
• Is there a hard cap? Avoid non capped icos.

I agree with all the things you are saying BUT

 "Simply ignore them and they will disappear." <<< The problem is many people will potentially loos already money until they disappear...

[LakeBTC]

Simply ignore them and they will disappear. They key to success or not to fall in this ico scam traps is a extensively due dilligence. The following check list may help to find out if the respective ico is legit or not:

• Is the team staffed with sectors insiders and/or crypto legendarys?
• Are the team members presented with real names or nick names? Avoid nick name only projects.
• Is there already a product in alpha or beta stage?
• When were the latest software development updates? Check Github or similar
• How many followers does the project have on Twitter?
• Are the devs or community managers active in Bitcointalk and/or Slack?
• Is there a hard cap? Avoid non capped icos.

I agree with all the things you are saying BUT

 "Simply ignore them and they will disappear." <<< The problem is many people will potentially loos already money until they disappear...

• Is there already a product in alpha or beta stage?

This. Also, is the ICO spinning off from an existing business? If so, that business has everything to lose by running a bad ICO.

For example, the upcoming LakeBanker ICO is spinning off from crypto-exchange LakeBTC (where the LakeBanker system has been operating in Beta for 1,5 years). LakeBTC has been around for years and is one of the most trusted names in the crypto industry. There's no way we would ruin that reputation to raise a few bucks in a scam ICO.

Check out our ANN thread and formal whitepaper

[zabisux]

All your suggestions take too much effort. Best to do is stay out of ico craze. Basically don't ever invest into icos if it looks scammy. That's best thing to do.

[LivingDeath]

All your suggestions take too much effort. Best to do is stay out of ico craze. Basically don't ever invest into icos if it looks scammy. That's best thing to do.

+1

At the moment it isn`t a good time to take part of an ico. I´m ignoring all of them and wait until the good ones go to exchange so I can buy under ico-price. 

[VTS]

All your suggestions take too much effort. Best to do is stay out of ico craze. Basically don't ever invest into icos if it looks scammy. That's best thing to do.

Well if you want to make profit from an ico you need at least to invest some time by checking it :-) Thats not that much effort :-)

But I understand that investing in icos is not for everyone, tho. It contains risk....

[phoenixdowndee]

Although there are some scams out there, it is very hard to just label a coin / currency a "shitcoin" because you don't like it. Like with any investments doing your research and looking into the company is the best way to determine whether it is a worhty investment. If you personally feel it is not a good idea, simply don't invest in it. Other people may consider it a great idea and only time will tell if they are right or wrong.

These are the qualities i look for before investing into an ICO:-

- Strong team - Both in development team and also the CEO's / marketing (People focus too much on the developers which is important but not everything. no point having a great team to create something, if nobody can advertise it and push the startup in the right direction.)
- Realistic vision - not aiming too high or if they do not reach their target everyone who invested will be disappointed
- Solid whitepaper - Well thought out, shows realistic goals, a strong good vision and a plan of action
- Strong social media presence - A social media that shows they are connected with everyone
- Good customer support - Shows they care, and they have invested time and money into making sure the average investor can ask questions
- Good website - A business who is willing to throw time and effort into a good website are less likely to be a scam
- finite supply - ICO's with no cap can be dangerous and can simply just damage their own coin by releasing more for more investment.
-Market they are getting involved with - Is this a new market? or a dying one? who controls the market?

Finally
- Good concept and catchy name - A good ethos and a name that makes them stand out. Personally i would avoid anything that is something "coin".

Personally i am looking at Crowdholding as it matches all the criteria i listed above and i am interested in their concept of co-creation. Also they are in their pre-sale so you can get a lot more tokens for you money, compared to ICO's.

https://ico.crowdholding.com/

Hope this helps you and happy investing!

[HardFireMiner]

Although there are some scams out there, it is very hard to just label a coin / currency a "shitcoin" because you don't like it. Like with any investments doing your research and looking into the company is the best way to determine whether it is a worhty investment. If you personally feel it is not a good idea, simply don't invest in it. Other people may consider it a great idea and only time will tell if they are right or wrong.

These are the qualities i look for before investing into an ICO:-

- Strong team - Both in development team and also the CEO's / marketing (People focus too much on the developers which is important but not everything. no point having a great team to create something, if nobody can advertise it and push the startup in the right direction.)
- Realistic vision - not aiming too high or if they do not reach their target everyone who invested will be disappointed
- Solid whitepaper - Well thought out, shows realistic goals, a strong good vision and a plan of action
- Strong social media presence - A social media that shows they are connected with everyone
- Good customer support - Shows they care, and they have invested time and money into making sure the average investor can ask questions
- Good website - A business who is willing to throw time and effort into a good website are less likely to be a scam
- finite supply - ICO's with no cap can be dangerous and can simply just damage their own coin by releasing more for more investment.
-Market they are getting involved with - Is this a new market? or a dying one? who controls the market?

Finally
- Good concept and catchy name - A good ethos and a name that makes them stand out. Personally i would avoid anything that is something "coin".

Personally i am looking at Crowdholding as it matches all the criteria i listed above and i am interested in their concept of co-creation. Also they are in their pre-sale so you can get a lot more tokens for you money, compared to ICO's.

https://ico.crowdholding.com/

Hope this helps you and happy investing!

Hope this video helps https://www.youtube.com/watch?v=cIasr2AiyZ0 .

[VTS]

@ HardFireMiner

  / 

[Esenhowell]

Something like a community driven audit service!

That is a good idea. But is that enforceable?

[TrueCryptonaire]

I have a pretty simple strategy of investing in an ICO at the end of it either in the last three days or a week. As it saves me from getting scammed as till the end of the ICO it gets cleared that the project is a scam or not by the amount of funds invested in it.

[HardFireMiner]

I have a pretty simple strategy of investing in an ICO at the end of it either in the last three days or a week. As it saves me from getting scammed as till the end of the ICO it gets cleared that the project is a scam or not by the amount of funds invested in it.

Biggest scams in history lived for decades with billions invested.

[VTS]

I have a pretty simple strategy of investing in an ICO at the end of it either in the last three days or a week. As it saves me from getting scammed as till the end of the ICO it gets cleared that the project is a scam or not by the amount of funds invested in it.

Biggest scams in history lived for decades with billions invested.

You know that I agree on the scam problematic, but not every alt coin project or new launched ico is necessarily a scam.

"Separate the spread from the wheat"

[HardFireMiner]

I have a pretty simple strategy of investing in an ICO at the end of it either in the last three days or a week. As it saves me from getting scammed as till the end of the ICO it gets cleared that the project is a scam or not by the amount of funds invested in it.

Biggest scams in history lived for decades with billions invested.

You know that I agree on the scam problematic, but not every alt coin project or new launched ico is necessarily a scam.

Nope. ICO = scam

IPO's are not necessarily scam cause they are well regulated, with real persons and real companies with real product, working already at the day of the IPO offering.

ICO = scam, no company, no people, no address, no demand and no jail when they scam. That's why they scam, why launch a product if you already got the money?
Just make another ICO!

[VTS]

I have a pretty simple strategy of investing in an ICO at the end of it either in the last three days or a week. As it saves me from getting scammed as till the end of the ICO it gets cleared that the project is a scam or not by the amount of funds invested in it.

Biggest scams in history lived for decades with billions invested.

You know that I agree on the scam problematic, but not every alt coin project or new launched ico is necessarily a scam.

Nope. ICO = scam

IPO's are not necessarily scam cause they are well regulated, with real persons and real companies with real product, working already at the day of the IPO offering.

ICO = scam, no company, no people, no address, no demand and no jail when they scam. That's why they scam, why launch a product if you already got the money?
Just make another ICO!

There are companies with real people, real address launching icos. In my opinion and I might be wrong (my current level of understanding) is that ICOs are the IPOs of old economy at least by idea, no?

How would you make a investment plan for a project what is in early stage? Making a RL IPO is taking much more time, money and effort an ICO is a faster way. That the idea of ICO is raped and abused that is another story. I see nothing wrong to look for investment for projects that are not fully established. This is ongoing in RL since decades. Many ideas, technologies so on wouldn't be here, because not everyone has the capital to realize a project from scratch to end and make a IPO afterwards.

And as said I do agree on 90% you are saying and its mandatory today to: "Separate the spread from the wheat". But I cannot agree that every ICO is scam, sorry! Many, many are...


I would like to encourage you to think on a solution to "Separate the spread from the wheat" more than saying: "ALL" Icos are BAD, SCAM... <<< That doesn't help and I think you have a higher level of understanding an experience you could add to provide something to a possible solution!

[vitarian]

99% all scam. SEC tweeting that they are scams, even china banning ico because they are scams

[VTS]

99% all scam. SEC tweeting that they are scams, even china banning ico because they are scams

We should not generalize too much, we need to "Separate the spread from the wheat" some mechanisms need to come up...

[HardFireMiner]

99% all scam. SEC tweeting that they are scams, even china banning ico because they are scams

We should not generalize too much, we need to "Separate the spread from the wheat" some mechanisms need to come up...

I am curious when and what ICO you will start promoting soon.

Anyway, if investors are not protected by any law, if the developers are not accountable for their work then you know for sure it's scam.

When I will see a real company, visited by real people, with proper authorization from financial institutions, in ALL the countries they sell their ICO, then I will admit that is not a scam and I will invest in it!

Until then, all ICO's are scam until proven legit.

[VTS]

99% all scam. SEC tweeting that they are scams, even china banning ico because they are scams

We should not generalize too much, we need to "Separate the spread from the wheat" some mechanisms need to come up...

I am curious when and what ICO you will start promoting soon.

Anyway, if investors are not protected by any law, if the developers are not accountable for their work then you know for sure it's scam.

When I will see a real company, visited by real people, with proper authorization from financial institutions, in ALL the countries they sell their ICO, then I will admit that is not a scam and I will invest in it!

Until then, all ICO's are scam until proven legit.

"When I will see a real company, visited by real people, with proper authorization from financial institutions"

There are companies running ICOs, just research a little, not many but there are.

"ALL the countries they sell their ICO":

This happens nowhere, not even in RL IPOs. The court location called is usually the country the company is located...

"I am curious when and what ICO you will start promoting soon"

The ico we are going to launch, we will launch as registered company with real people, I would never make a creepy anonymous launch.
We are prepared to pay taxes and everything else related.
I do not understand why some1 wouldn't do it official? You can rise enough funds via ICO to be legal and pay all necessary taxes to function. None official would ring my bells and prolly is high chance to be scam.