[2017-10-23] The Wolf of Wall Street Thinks Some ICOs Are 'The Biggest Scam Ever

[ufalo3]

Some ICOs are really scammers' projects. You must always be aware that you take risks when dealing with the new project. Just follow small tips - pay attention at the site design, check the logo - it might be stolen, check the team - they must be real known in cryptomarket people and read attentively the ICO Whitepaper: it must exist!

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[LeapTokenSale]

Thanks, Belfort, we had no idea about that!
Of course, there are some people who think that is a quick way to earn some money with a scam ICO, but now when the investors are cautious, the bad ICOs won't last long. It is all about spotting

[MoonJeina]

There is some level of truth in his statement for sure . I agree that this year many ICOs have been seen in the forum and other sites .
It is hard to judge which ones of them are actual and which are not . Main reason why China banned ICOs that most of them are scammed . Right now the market is flooded with scams . But not all of them are  scams , i have benefited from many Icos in the past .
But i also remember some of the scams i had to experience   

[J. Cooper]

Well i agree with Mr Belfort. Giving away bitcoins in exchange for a brand new coin it's even worse than a shot in dark. How many cryptocurrencies exist, and how many have a reasonable value? Also there are tons of "fake" coins. They get the money and run-away.

That's not really accurate because a lot of people who are regular investors in ico's don't really care about the coin itself. All they really care about is getting in early on the action (most of the times at a very low price) and then sell for a lot more when the coin hits an exchange. And this worked for the longest time until scammers started seeing opportunities to make a lot of money in a short amount of time. So of course there are scams but it's a straight up exaggeration to claim some are the biggest scams of all time. The biggest scam of all time is fiat imo.

[8270thNinja]

I suggest that people who invests should also learn how to research and detect what is a real ICO and a scammy-trashy ICO is.

you are expecting too much from ICOs investors  And the problem is, money can be made even on scammy ico.

Then they are expecting too much for ICOs isn't it the problem?. The Problem exists, There are a lot of Scammy ICOs because Investors are just continuing to pumping it up, Investors can prevent from being scammed by researching the background of the ICOs.

[senin]

This year, indeed, a very large number of ICOs were conducted, and because some of them turned out to be common fraud, this problem was attracted by the involvement of both the community and state bodies. Indeed, the problem of risks during the ICO is very serious. It can be decided only by staggered state or public regulation. I hope that in the future the situation will change and the risks will be reduced.

[Oo ako to]

I suggest that people who invests should also learn how to research and detect what is a real ICO and a scammy-trashy ICO is.

you are expecting too much from ICOs investors   And the problem is, money can be made even on scammy ico.

Then they are expecting too much for ICOs isn't it the problem?. The Problem exists, There are a lot of Scammy ICOs because Investors are just continuing to pumping it up, Investors can prevent from being scammed by researching the background of the ICOs.

You can't really blame them after all. Some scammers are very good even in some tiny details that is very professional looking so only professionals on crypto can spot those mistakes. Unlike small time investors that only knows blockchain and other normal terms that even allot time for research but their knowledge aren't adequate to see that there is a mistake in that project.

[TagaMungkahi]

I suggest that people who invests should also learn how to research and detect what is a real ICO and a scammy-trashy ICO is.

you are expecting too much from ICOs investors   And the problem is, money can be made even on scammy ico.

Then they are expecting too much for ICOs isn't it the problem?. The Problem exists, There are a lot of Scammy ICOs because Investors are just continuing to pumping it up, Investors can prevent from being scammed by researching the background of the ICOs.

You can't really blame them after all. Some scammers are very good even in some tiny details that is very professional looking so only professionals on crypto can spot those mistakes. Unlike small time investors that only knows blockchain and other normal terms that even allot time for research but their knowledge aren't adequate to see that there is a mistake in that project.

I understand you, but we are on the Internet Era, reasons like "I do not know" and such is still understandable yet unacceptable. Do not just invest on the things that you don't know. It's time to be more observant and keen on selecting the ICOs you will invest.

[8270thNinja]

I suggest that people who invests should also learn how to research and detect what is a real ICO and a scammy-trashy ICO is.

you are expecting too much from ICOs investors   And the problem is, money can be made even on scammy ico.

Then they are expecting too much for ICOs isn't it the problem?. The Problem exists, There are a lot of Scammy ICOs because Investors are just continuing to pumping it up, Investors can prevent from being scammed by researching the background of the ICOs.

You can't really blame them after all. Some scammers are very good even in some tiny details that is very professional looking so only professionals on crypto can spot those mistakes. Unlike small time investors that only knows blockchain and other normal terms that even allot time for research but their knowledge aren't adequate to see that there is a mistake in that project.

That's the first thing you should do before you invest STUDY AND LEARN AND RESEARCH what product/company/business or Coin that you will invest. You are not throwing money without even researching who is who and what is what. ICOs are not even regulated by the Government, so no one ever will identify if that ICO is scam, It's only the community of Investors and also you.

[Urbanbypas]

Holding an ICO must be strictly monitored by the government. Even on this forum there are clearly fraudulent schemes.

[TheKeyLongThumbI]

Holding an ICO must be strictly monitored by the government. Even on this forum there are clearly fraudulent schemes.

I have the same in mind. These scammy ICOs infects the image of other credible ICOs with real project. It's like there's only 1 out of 100 ICOs that are not after you money that exists every month.