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

[VTS]

What you guys thinking, will there be shittcoin warning list, websites or software informing about shit coins in near future?

Something like blacklist for email spam, IP spam...


Its clear, that it would need regulations to do so, but I wonder myself where all the hype will end, without having something like a shittcoin warning system...

What are your thoughts?


***UPDATE***

List might be the wrong attend!

>>> The current thought is community driven audit of coins and icos to prevent scam! Example: Before some1 issues an ico he could ask for audit and if the audit passes he could get a a badge... something like that, to increases trust.

1. There should be a committee democratically voted with min. 20 persons (to avoid corruption)
2. Applying for audit is based on the free will of an issuer
3. There are no hardcore regulations and no legal aspects
4. Its something like a professional opinion from chosen community members that adds extra trust and adds a little process to "separating wheat from chaff"


Well all very theoretically and for sure contains many problems in it in that state...

Something like a community driven audit service!

[quentincole32]

What you guys thinking, will there be shittcoin warning list, websites or software informing about shit coins in near future?

Something like blacklist for email spam, IP spam...


Its clear, that it would need regulations to do so, but I wonder myself where all the hype will end, without having something like a shittcoin warning system...

What are your thoughts?

Who would be the people that decide which are shittcoins and why would we trust those people? Every single ICO out there has been called a scam and a shittcoin and worse, the only way to tell is just to research to hell and back before you put any money into anything.

[monocolor]

well if you don't feel comfortable with them, just avoid them, no one asked you to mine or buy any of these. People mine/buy because they want to gamble. Sometimes it works fine, sometimes it is not. So completely your choice.

[VTS]

So you both agree to let it be self regulated? I´m just asking, no offense... I'm just curious what people think about it...

[quentincole32]

So you both agree to let it be self regulated? I´m just asking, no offense... I'm just curious what people think about it...

No offense taken. I'm just saying, I can't think of a situation where I would trust a random group of people to tell me what is a scam and what isn't.

[VTS]

Many things are regulated via collective sense of responsibility, but what if it gets lost? It could possible harm the hole blockchain ecosystem, no?

If there would be a committee, voted by the community, that would give recommendation (based on free will of the ico issuer), would that work? Something like if I sign up my ico to this verification () process (service) it would run through an audit and if its passing, it would give some extra trust factor. But of course it wouldn't have any legal background, more a community driven (tested by community) badge or something...

Its all very theoretically, just a thought....

[HardFireMiner]

A few triggers can help you:

1. It's an ICO? 100% scam
2. It's premined? 100% scam
3. It's not minable? 100% scam
4. It's a clone of another coin? 90% scam

Hope this helps and I also hope you guys have some brains to choose a few nice, fair, decentralized coin to invest your money and not all those shitcoins.

[quentincole32]

Many things are regulated via collective sense of responsibility, but what if it gets lost? It could possible harm the hole blockchain ecosystem, no?

If there would be committee voted by the community, that would give recommendation (based on free will of the ico issuer), would that work? Something like if I sign up my ico to this verification () process (service) it would run through an audit and if its passing, it would give some extra trust factor. But of course it wouldn't have any legal background, more a community driven (tested by community) badge or something...

Its all very theoretically, just a thought....

Don't get me wrong, I like the idea of that, but what is to stop ICOs from just paying individual members ungodly sums of money to whitelist them? Not to mention, can anyone name one person in the world that they would trust implicitly to determine what is and isn't a scam AND who they would also trust to not be bought off? I honestly can't think of anyone.

[quentincole32]

A few triggers can help you:

1. It's an ICO? 100% scam
2. It's premined? 100% scam
3. It's not minable? 100% scam
4. It's a clone of another coin? 90% scam

Hope this helps and I also hope you guys have some brains to choose a few nice, fair, decentralized coin to invest your money and not all those shitcoins.

Nailed it.

[VTS]

A few triggers can help you:

1. It's an ICO? 100% scam
2. It's premined? 100% scam
3. It's not minable? 100% scam
4. It's a clone of another coin? 90% scam

Hope this helps and I also hope you guys have some brains to choose a few nice, fair, decentralized coin to invest your money and not all those shitcoins.

you remind me on *** Spoetnik ***  

But I cannot agree on 100%... by 88% I would be by with you :-)

[HardFireMiner]

A few triggers can help you:

1. It's an ICO? 100% scam
2. It's premined? 100% scam
3. It's not minable? 100% scam
4. It's a clone of another coin? 90% scam

Hope this helps and I also hope you guys have some brains to choose a few nice, fair, decentralized coin to invest your money and not all those shitcoins.

you remind me on *** Spoetnik ***  

But I cannot agree on 100%... by 88% I would be by with you :-)

Spoetnik is a nice bitcoiner, if I can call him like this, actually I like and agree with most of his posts, not all, most.

I wish more people here had a brain and dignity to report the obvious, like Spoetnik.

[soothaa]

We used to have this stuff back in the day of only PoS coins and it was pretty much the same. People freaked over premines and the coins basically died right there. Nowadays nobody cares. Premines, ICOs, shady developers, all of it used to be much less troublesome in the past, but now people simply want to just only whatever hot new thing there is and mine or try and profit from it. Meanwhile the ones who are raking it in are the devs who hold huge bags and just dump out their premines once their coin gets traction..

[VTS]

Many things are regulated via collective sense of responsibility, but what if it gets lost? It could possible harm the hole blockchain ecosystem, no?

If there would be committee voted by the community, that would give recommendation (based on free will of the ico issuer), would that work? Something like if I sign up my ico to this verification () process (service) it would run through an audit and if its passing, it would give some extra trust factor. But of course it wouldn't have any legal background, more a community driven (tested by community) badge or something...

Its all very theoretically, just a thought....

Don't get me wrong, I like the idea of that, but what is to stop ICOs from just paying individual members ungodly sums of money to whitelist them? Not to mention, can anyone name one person in the world that they would trust implicitly to determine what is and isn't a scam AND who they would also trust to not be bought off? I honestly can't think of anyone.

Well it will be hard to buy the hole community... it should be somehow democratic voting and controlling team so on... you can buy  1- 10 people but 50 will be hard I guess...

And I didnt mean to declare shit coin or not... just to give a trust bonus and guarantee some minimum requirements or something like that...

[VTS]

I wish more people here had a brain and dignity to report the obvious, like Spoetnik.

On THAT I agree 100%

[Matic]

this is about free market also and decentrlization if people want to invest into bad coins they should be able to. everybbody need to learn what is a good coin ot heir own. also you have shitcoins that years after can become good, it is not black and white

[VTS]

this is about free market also and decentrlization if people want to invest into bad coins they should be able to. everybbody need to learn what is a good coin ot heir own. also you have shitcoins that years after can become good, it is not black and white

^^^ what does that have to do whit free market? Non is talk about hardcore regulations covered by legal authorities
^^^ how it would interfere with decentralization? I dont get it...

Fact is, that its made very easy to start a scam! And there is a lot of " I give a shit as long I make profit" mentality around... People are promoting every freaking crap they get paid for without even asking whats all about, what possible damage can be made... Not all, but more and more of are jumping on that train...

[VTS]

We used to have this stuff back in the day of only PoS coins and it was pretty much the same. People freaked over premines and the coins basically died right there. Nowadays nobody cares. Premines, ICOs, shady developers, all of it used to be much less troublesome in the past, but now people simply want to just only whatever hot new thing there is and mine or try and profit from it. Meanwhile the ones who are raking it in are the devs who hold huge bags and just dump out their premines once their coin gets traction..

I believe a solution is needed, urgent, no? Just ignore it and see where its going?  Just asking...

[HardFireMiner]

We used to have this stuff back in the day of only PoS coins and it was pretty much the same. People freaked over premines and the coins basically died right there. Nowadays nobody cares. Premines, ICOs, shady developers, all of it used to be much less troublesome in the past, but now people simply want to just only whatever hot new thing there is and mine or try and profit from it. Meanwhile the ones who are raking it in are the devs who hold huge bags and just dump out their premines once their coin gets traction..

I believe a solution is needed, urgent, no? Just ignore it and see where its going?  Just asking...

Ignorance is not a solution, mocking is.

Mock the stupid ones, the shills, report the obvious and we should be fine.

Crypto was about honesty some years ago, it still is for a bunch of people like myself. As long as we live, honesty will live with us in this crazy wild west.

[VTS]

We used to have this stuff back in the day of only PoS coins and it was pretty much the same. People freaked over premines and the coins basically died right there. Nowadays nobody cares. Premines, ICOs, shady developers, all of it used to be much less troublesome in the past, but now people simply want to just only whatever hot new thing there is and mine or try and profit from it. Meanwhile the ones who are raking it in are the devs who hold huge bags and just dump out their premines once their coin gets traction..

I believe a solution is needed, urgent, no? Just ignore it and see where its going?  Just asking...

Ignorance is not a solution, mocking is.

Mock the stupid ones, the shills, report the obvious and we should be fine.

Crypto was about honesty some years ago, it still is for a bunch of people like myself. As long as we live, honesty will live with us in this crazy wild west.

How to "Mock the stupid ones, the shills, report the obvious and we should be fine" if more and more icos and crypto projects gets realized outside of this forum, never participated here?... It is somehow possible to do that within the forum, but outside I do not see a way...

[Herbert2020]

A few triggers can help you:

1. It's an ICO? 100% scam
2. It's premined? 100% scam
3. It's not minable? 100% scam
4. It's a clone of another coin? 90% scam

Hope this helps and I also hope you guys have some brains to choose a few nice, fair, decentralized coin to invest your money and not all those shitcoins.

this is exactly the issue.
you come up with some guidelines like this or anything similar then it becomes "just your opinion". for example i agree with 1 and 2 but not 3 and 4.
a not-minable coin doesn't have to be scam.
and a coin that is clone of another coin is 100% scam.

and that is just an example.

on top of it, i am only in it for the profit. a shitcoin can also give me profit. scam or not scam doesn't matter when they get pumped 300% in 2 days, it can give me the same amount of profit than any other altcoin can.