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

[slaman29]

If you can't tell shit coins on your own, you should not trust a list. Shall we also then buy up the coins the list does not list? You will have a list of more than a thousand coins if it is honest. No one wants to do all that research to help others. There are regulatory lists by governements and banks that have Bitcoin on them. Shall we trust that list?

[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.

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...

Everyone in search for the truth will come here sooner or later.

[VTS]

If you can't tell shit coins on your own, you should not trust a list. Shall we also then buy up the coins the list does not list? You will have a list of more than a thousand coins if it is honest. No one wants to do all that research to help others. There are regulatory lists by governements and banks that have Bitcoin on them. Shall we trust that list?

Well the word "LIST" is not the correct term to be used (that was just a trigger in my brain)

As explained later, a trust seal on free will base, issued by community committee that requires some kind of audit... just an extra trust factor not regulation!

[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.

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.

You see, in the past a scam would never be profitable as it would have never gain traction and support of the community.
So, you think Litecoin is a scam? It is a clone of bitcoin, not even the first one.

Of course, everyone has their own guidelines, but a non-minable has nothing to give it value, with mining we have POW and this solo gives already value. What gives value to a non-minable shitcoin?

[xenomorphe1]

How to know if a coin is a shittcoin or not? I think you can't.
It is only when the coin gets some value and is tradable then it is not a shittcoin. But for some people it may still be a shittcoin.
It depends a lots of the opinion of each person. There is still a lot of shittcoin which are still tradable and for years.
For some coins, you can have a better marketing. And for some a simple presentation. But it is only if the coin is used and accepted that the coin is not a shittcoin. At the beginning every coin is shittcoin.

[VackFromOhm]

I think it would have to be a team of people that run their own site and that is ALL they do. They'd have to basically write essays with comment threads allowing people to counter-argue and they'd have to implement this into their research and even then, it could still be considered an opinion. I think that this isn't a bad idea though- I'd like to go to one third party place where people write basically essays explaining why they think a coin is a scam. I don't think they should say a coin ISN'T a scam, and just keep their energy on trying their best to find the evidence that a certain coin is a scam. If there isn't evidence that it is a scam, that doesn't mean that it isn't. I think that having a single place to go to could actually be a thing, though. scamcoins.net?

[VTS]

I think it would have to be a team of people that run their own site and that is ALL they do. They'd have to basically write essays with comment threads allowing people to counter-argue and they'd have to implement this into their research and even then, it could still be considered an opinion. I think that this isn't a bad idea though- I'd like to go to one third party place where people write basically essays explaining why they think a coin is a scam. I don't think they should say a coin ISN'T a scam, and just keep their energy on trying their best to find the evidence that a certain coin is a scam. If there isn't evidence that it is a scam, that doesn't mean that it isn't. I think that having a single place to go to could actually be a thing, though. scamcoins.net?

as long as it is run by a punch of reputable community members that get somehow voted from the crowed in the committee that evaluates coins or better said give an opinion scamcoins.net  or coinreview.org >>> is worth a deeper thought...

[viewly]

Its not shitcoins we need to be worried about, there are tons already with no volume and garbage market caps.

Its the phony ICO's that need to be dealt with, warnings to the community need to be done. Raising of capital for bogus projects need to end.

[VTS]

Its not shitcoins we need to be worried about, there are tons already with no volume and garbage market caps.

Its the phony ICO's that need to be dealt with, warnings to the community need to be done. Raising of capital for bogus projects need to end.

agree!  ^^^ coins and ico's

[VTS]

***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...

[viewly]

Would be nice to have a web site that does ICO investigations. The problem is that there are so many popping up daily that its physically impossible for some people to verify all of them. It can take long hours to do in depth research on a single ICO.

[VTS]

Would be nice to have a web site that does ICO investigations. The problem is that there are so many popping up daily that its physically impossible for some people to verify all of them. It can take long hours to do in depth research on a single ICO.

a sub-forum here would do.... but the main problem is who will be the people doing the audit, giving the opinon, so on...
what model could work to not suffer from corruption... so on so on

[viewly]

Would be nice to have a web site that does ICO investigations. The problem is that there are so many popping up daily that its physically impossible for some people to verify all of them. It can take long hours to do in depth research on a single ICO.

a sub-forum here would do.... but the main problem is who will be the people doing the audit, giving the opinon, so on...
what model could work to not suffer from corruption... so on so on

That's true as well, it could get rigged fairly easily and biased unless the people behind it has some sort of reputation behind it.

[VTS]

Yes, the audit of a ico could only work if "reputable" community member would sit in the committee! If there would be only noobs, there would be no trust factor. And the extra trust factor is actually the point of all this.

[Herbert2020]

You see, in the past a scam would never be profitable as it would have never gain traction and support of the community.

times change. shitcoins are not on the 2nd rank of coinmarketcap.com

So, you think Litecoin is a scam? It is a clone of bitcoin, not even the first one.

no, i am just pointing out that coming up with guidelines like this is flawed. there are always exceptions to the rules. and in case of Litecoin, it is not scam, but at the same time it is not really doing anything special either. despite being profitable!

Of course, everyone has their own guidelines, but a non-minable has nothing to give it value, with mining we have POW and this solo gives already value. What gives value to a non-minable shitcoin?

the value of a coin does not come from its mining. the value comes from its usage. if the coin has something to offer then it is valuable. of course it is debatable that what the coin offers is really useful or not, since none of the altcoins have yet gained any foothold in the real world!

as an example of a non-minable coin i can name Byteball.
it is not at all a shitcoin, it can not be mined, and it has one of the highest values (price).

[VTS]

You see, in the past a scam would never be profitable as it would have never gain traction and support of the community.

the value of a coin does not come from its mining. the value comes from its usage.

I would like to see more of such non-mineable coins... compared with pre-mining coins I would trust non-minable coins a little bit more. But ofc cannot be generalized, tho. It just gives somehow a plus feeling when checking a coin... duno, maybe just to me :-))) And it is ofc no factor to spot a possible shitcoin tho..

[HardFireMiner]

You see, in the past a scam would never be profitable as it would have never gain traction and support of the community.

times change. shitcoins are not on the 2nd rank of coinmarketcap.com

So, you think Litecoin is a scam? It is a clone of bitcoin, not even the first one.

no, i am just pointing out that coming up with guidelines like this is flawed. there are always exceptions to the rules. and in case of Litecoin, it is not scam, but at the same time it is not really doing anything special either. despite being profitable!

Of course, everyone has their own guidelines, but a non-minable has nothing to give it value, with mining we have POW and this solo gives already value. What gives value to a non-minable shitcoin?

the value of a coin does not come from its mining. the value comes from its usage. if the coin has something to offer then it is valuable. of course it is debatable that what the coin offers is really useful or not, since none of the altcoins have yet gained any foothold in the real world!

as an example of a non-minable coin i can name Byteball.
it is not at all a shitcoin, it can not be mined, and it has one of the highest values (price).

Man, it's not minable - it's a scam, you will get to this sooner or later, no offence.

[HardFireMiner]

You see, in the past a scam would never be profitable as it would have never gain traction and support of the community.

times change. shitcoins are not on the 2nd rank of coinmarketcap.com

So, you think Litecoin is a scam? It is a clone of bitcoin, not even the first one.

no, i am just pointing out that coming up with guidelines like this is flawed. there are always exceptions to the rules. and in case of Litecoin, it is not scam, but at the same time it is not really doing anything special either. despite being profitable!

Man, it's not minable - it's a scam, you will get to this sooner or later, no offence.

You mean it IS scam in its nature or will be threatened like scam by people?

It is scam by it's nature, the numbers are drawn, unreal. Why that number of coins and not 0.1% just? Or more hundred fold? Why not make it minable? Why do miners need to buy the "coin" and not mine it?
What is the limitation? I mean you can make the exact same coin and make it minable, but in this case, you can't premine, or at least in past you couldn't, people will throw it in the garbage can. Non-minable coins are just a brand new pyramid, ponzi scheme.

[tokeweed]

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.

Pfffft.  Shitcoin or no shitcoin, as long as you know what you're doing in trading, and the 'shitcoin' has good volume and liquidity then you could make some profit trading them.  It's all about trading well and having a strategy.  If you don't know what you're doing then you're better off holding everything in Bitcoin.

...  Or just save your money in fiat, safe in your bank account.  It's always gonna be your fault why you're losing value.

[VTS]

You see, in the past a scam would never be profitable as it would have never gain traction and support of the community.

times change. shitcoins are not on the 2nd rank of coinmarketcap.com

So, you think Litecoin is a scam? It is a clone of bitcoin, not even the first one.

no, i am just pointing out that coming up with guidelines like this is flawed. there are always exceptions to the rules. and in case of Litecoin, it is not scam, but at the same time it is not really doing anything special either. despite being profitable!

Man, it's not minable - it's a scam, you will get to this sooner or later, no offence.

You mean it IS scam in its nature or will be threatened like scam by people?

It is scam by it's nature, the numbers are drawn, unreal. Why that number of coins and not 0.1% just? Or more hundred fold? Why not make it minable? Why do miners need to buy the "coin" and not mine it?
What is the limitation? I mean you can make the exact same coin and make it minable, but in this case, you can't premine, or at least in past you couldn't, people will throw it in the garbage can. Non-minable coins are just a brand new pyramid, ponzi scheme.

Thx for elaborating this and allowing pre-mining contains the same high risk to be a scam.