How to recognize scam

[aleksandra_kickcity]

there are so many such scammy project in bitcointalk. some just disappear from the radar after a while. maybe there should be some sort of warning about such projects in bitcointalk.

That's a brilliant Idea. You should create a talk here!

[1713523733]

1713523733

[1713523733]

1713523733

[fulmetal08larz]

Google is your friend when it comes to researching about scams and other ponzi schemes lurking out there. Also, the community here in bitcointalk forum is a great help wherein you will get insight from those who have experience. If it is too good to be true, then there is a high probability that it's a scam.

[Swenna]

I agree with this one. Everything all comes down to research. Research. Research. Gaining personal knowledge about these things will be helpful. you have noting to lose, only something to gain more. I've encountered a scam project because I was all about applying and investing before, I didn't bother to research about the projects and its team. But in the end, I also learned a lot from it. But please, don't learn things the hard way just like I did. Research.

[youdacapt]

there is nothing specific unless there is a coherent collaboration between the campaign manager and the project developer / founder, many managers lose communication and the participants ask more about bounty in thread ann. The most important factor is how successful they are promoting the ICO and how strongly the project they are offering, if it looks unreasonable and lonely from the community's response it can be disuspect as a fraud.

I do not think all projects intend to cheat, but many of them choose to disappear when there is no enthusiasm from the campaign participants and potential buyers in the forum / telegram.

[BusyBeaverHP]

there are so many such scammy project in bitcointalk. some just disappear from the radar after a while. maybe there should be some sort of warning about such projects in bitcointalk.

You are right on your own way but I think this is too difficult to recognize scam because it hurt and break the person to invest with his hard work and then someone scam then this is not fair that’s why people didn’t accept scam, but the way to recognize is only when you start forgetting about these things only.

[genology]

If it's too good to be true, most likely, it is a scam. If it is a company, try researching the company profile first. Include also its members. Look at its history, accomplishments and issues before. Also, bitcointalk has recently exposed scammers through email. Check also your messages here for more updates regarding scammers.

[J Gambler]

Hello everyone!

Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.

So I decided to make a list of scam signs: (and this is just my own opinion)

- A founder and a team are not open.

Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.

In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.

- Spending a lot of money on marketing isn't always show professionalism.

Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too  

- You know nothing about a founder. And you cant find any information about him/her.

Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.

- They don't have a readymade product.

Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.

And what do you think about it? What are your signs of a scam?

YOu can recognize a scam once you see that everything is too good to be true. If the rewards are great and the prerequisites needed are too low or so easy to get then that would mean that you would be needing that this is a scam and a trick

[tigan_gangmei]

I'd they spend too much on marketing then it raises alarm.  When I seedlings grows, it's usually quiet. But when a tree crashes it makes a lot of noise. Remember that.

[spyderbilt]

a scam can be recognized when looking at sales when ICO and transactions do not get great support. you can conclude it's a scam because if it is a successful coin it will surely have a large volume of transactions and will definitely achieve sales targets.

[Javanewstar]

Hello everyone!

Today I've read a couple of articles and I've noticed that the most people are used to label each ICO as a scam. That is not fair, I know. Especially when you work in a startup launching ICO and do your best to make a project successful. However, having worked in ICO industry I learned how to recognize a scam just from one conversation with a Founder. I don't know how to explain this feeling. Probably, my subconscious translates knowledge, but I could not say a have a large experience.

So I decided to make a list of scam signs: (and this is just my own opinion)

- A founder and a team are not open.

Talking with a founder is always nice. They are usually full of energy and ready to talk about their project for hours. No matter how tired he/she is: when one is asking about a project, a founder starts talking about it with eyes burn with a fire. No matter who you are. When a founder deflects, tries to escape and avoids it makes you think that he/she just can't tell you anything important. What is more, it is crucial talking to a team. When a team member doesn't know how to answer a simple question about a product, it is also a bad sign.

In case of the lack of opportunity to visit an event and to talk to a team, you always can contact a founder and a team online. They should be open and answer patiently all your difficult questions. Even if you ask it every minute.

- Spending a lot of money on marketing isn't always show professionalism.

Just think. A company needs ICO to raise money for a company development. Isn't it a little bit queerly when an unknown company is too fancy. How? And Why? Why do they need ICO if they already have money on expensive advertisement? I don't know too  

- You know nothing about a founder. And you cant find any information about him/her.

Always google the founder. Always. And now I'm not talking about his/her FB page. I'm talking about his experience, education, photos, events he took part in. A founder should not be a mysterious person who came from nowhere. His background should be open to everyone.

- They don't have a readymade product.

Let's make a sober recognition. The competition is high. In the end of 2017 - the beginning of 2018 you just can't appear with an idea and ask for money. You need to develop your product before ICO. It should not be an amazing one. It could be just prototype. But investors need something real. They need to touch and try your product. However, just 16% of all ICO has a product.

And what do you think about it? What are your signs of a scam?

It's hard to tell if an ICO is a hoax, but you can search through Google to see if it has a bad record.

[Clos Belmont ICO]

If it's too good to be true, most likely, it is a scam. If it is a company, try researching the company profile first. Include also its members. Look at its history, accomplishments and issues before. Also, bitcointalk has recently exposed scammers through email. Check also your messages here for more updates regarding scammers.

100% agree. Also you can check linkedin profiles of team members, read about them and their achievements

[aleksandra_kickcity]

If it's too good to be true, most likely, it is a scam. If it is a company, try researching the company profile first. Include also its members. Look at its history, accomplishments and issues before. Also, bitcointalk has recently exposed scammers through email. Check also your messages here for more updates regarding scammers.

100% agree. Also you can check linkedin profiles of team members, read about them and their achievements

True. Team is crutial fpr a succesful ICO

[paxaway21]

you'll find that a scam is something when I offer you a huge amount of money that does not really get you the right bitcoin because scammers have a huge amount of money to attract sophisticated rich people so you should not simply trust in you know someone.

[mintomia199]

it is always a very difficult to find a scam.you can read white paper and discuss with experts.in addition you can see the background of the ico as well.

[randyg29]

I think you can find out if a campaign is a scam is the way of they're offer you to pay you a bitcoin but they're campaign is a altcoin because I experience it when I joined them and then many people react on them why like this, like that and somebody massage me that they report it and the manager shut it down.

[aleksandra_kickcity]

it is always a very difficult to find a scam.you can read white paper and discuss with experts.in addition you can see the background of the ico as well.

it is very difficult. and I agree if the ICO is too perfect it can be a scam

[btc_love]

ICO industry is dying and there is nothing you can do. Just making a good product and telling people about it

[aleksandra_kickcity]

ICO industry is dying and there is nothing you can do. Just making a good product and telling people about it

true. In my opinion, there will be no ICO in 2019

[biboy]

ICO industry is dying and there is nothing you can do. Just making a good product and telling people about it

true. In my opinion, there will be no ICO in 2019

How sure you are guys that there will be no longer ICO in the coming years? I don't think so, I think a lot of ICO will still open and a lot will really stay. How to recognize scam? simply just look at the team and its vision if it is too good to be true don't join it is 90% not true and is just a scam.

[abanansah]

ICO scams are real and you can't judge the outcome of an ICO based on the founders or team knowledge on the product. A founder or team member can know the products in and out but if their intention is to scam nothing can be done to prevent that. I only give my support to an ICO that has a product or service in the market for at least the last two years, with an established office and good team management. The team must be in full time work with the product. That give me confident.