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Author Topic: Can we implement this feature to make Bitcointalk more secured against scammers?  (Read 544 times)
siddartha1492
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September 23, 2017, 05:15:34 AM
 #1

Hi All

From a past few weeks, I was thinking that now a days, ICOs are popping up like mushrooms on Bitcointalk. They come, advertise their ICO to the most visible, popular, targeted audience and result oriented site, get bounty workers for free in exchange of promise of tokens, take money from the investors and then are never to be seen again. Of course, not all ICO founders are same, but many are like this only. I think we should have some features on Bitcointalk to discourage such ICOs or at least compensate some losses. I don't have many ideas, but have 1, which we can brainstorm upon.

So my idea is:
Bitcointalk should charge a % of the ICO goal from these ICO founders and keep it reserved with itself. If the ICO is honest and fulfills its promises then this reserved money can be released back to the ICO guys. Also some part of this fund be charged in form of advertising fees. This advertising fees can be used to run the forum without any issues and can also be used to pay the mods etc.

If in case, the ICO is a fraud, then the reserved fund will not be released back to the ICO guys. Instead it will be paid to the bounty hunters, investors etc. Of course, Bitcointalk will still take out its advertising fees from this.

I think this fund reserve feature will allow scam ICOs to rethink about using Bitcointalk as a platform for scamming. Also in case, they do, then we can at least recover some amount of the money.
 
I understand that this forum is supposed to be free for all forever, but still changes are something we can not deny. And we can have a section for the free ICO founders also, but of course, members will give them less priority.

Do you think this feature with some improvements can be implemented on Bitcointalk to keep the scammers away, even if just to a small extent. What other features can we have to safeguard the interests of the investors on Bitcointalk. Please discuss this, and who knows we may have some good ideas.

Thanking You
Siddartha Gupta

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Vod
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September 23, 2017, 05:16:32 AM
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Taking a little bit away from thieves will not stop them from stealing.

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siddartha1492
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September 23, 2017, 06:16:12 AM
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But it can discourage them to at least some extent as they would have to pay forward. And it could be a start in the right direction along with some more features to repel scammers.

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September 23, 2017, 06:25:37 AM
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But it can discourage them to at least some extent as they would have to pay forward. And it could be a start in the right direction along with some more features to repel scammers.

Wrong direction.  You would simply give the scam credibility to newbies because they see it has paid a deposit to "register" itself.  :/

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October 04, 2017, 04:35:33 PM
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Wow, this is just wrong.

I understand that comes from a good intention but this is not the role of neither the mods or btctalk team to evaluate whether the goal of an ICO has been achieved or not.
Plus as VOD said, that % fee will be seen by scammers as another cost of doing "business", in addition of luring newbies into thinking Bitcointalk vouched for the advertised/escrowed ICO's.
Not to mention that would give way too much power and room for corruption to anyone in charge of vouching/evaluating these projects.

Monitoring ICO's is a full time job, and as you said there are a LOT of them out there, some looks scammy, some looks legit, but at the end of the day learning how to spot a scam is your job as an investor.

No one  can protect you against your own mistakes/lack of research. 

What you could do as an individual is developing an ICO rating service, we do need more of these and any additional one would be greatly appreciated.

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siddartha1492
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October 05, 2017, 04:53:37 AM
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Hmm, well u are right. But what about charging some advertising fees at least for the forum to run smoothly or even better.

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