Is the waves platform a magnet for likely-to-be scams?

[Cardan0]

I am not making an accusation here, these business could potentially be legitimate but I would like to know your comments:

A proposal for a lottery

https://bitcointalk.org/index.php?topic=2827625.msg28975672#msg28975672

A project that mixes social networks, payment and every buzzword out there. This is all over the forum with various ANN threads.
https://bitcointalk.org/index.php?topic=2748393.0


What is wrong with these projects?

They want to have a market cap of 100 million and more than 7 BILLION respectively right from the start.

How?

Launching lots of tokens and selling only a few for a relatively high price.

Example:

The lottery project issues 100 million tokens and sells a small amount for 1 USD. The theoretical Marketcap is 100 Million. The sad reality is that every dollar you put into it is basically lost, because that is unlikely to be true.

The other project is even worse. They intend to have a market cap of more than a Billion USD. Investing on these gives you exactly the same result: loss of all investment unless they became the next Facebook.


The only unlikely possibility is that these business were actually worth 100 million and 7 billion. Do you think they are?

[KingScorpio]

I am not making an accusation here, these business could potentially be legitimate but I would like to know your comments:

A proposal for a lottery

https://bitcointalk.org/index.php?topic=2827625.msg28975672#msg28975672

A project that mixes social networks, payment and every buzzword out there. This is all over the forum with various ANN threads.
https://bitcointalk.org/index.php?topic=2748393.0


What is wrong with these projects?

They want to have a market cap of 100 million and more than 7 BILLION respectively right from the start.

How?

Launching lots of tokens and selling only a few for a relatively high price.

Example:

The lottery project issues 100 million tokens and sells a small amount for 1 USD. The theoretical Marketcap is 100 Million. The sad reality is that every dollar you put into it is basically lost, because that is unlikely to be true.

The other project is even worse. They intend to have a market cap of more than a Billion USD. Investing on these gives you exactly the same result: loss of all investment unless they became the next Facebook.


The only unlikely possibility is that these business were actually worth 100 million and 7 billion. Do you think they are?

how do you define in crypto a scam? seriously?

practically every cryptocurrency sect claims from itself its undervalued and more valuable than other token...

why is bitcoin not a scam? everybody that works for bitcoin can also then work for other cryptos as well

in my oppinion the biggest scam of all is bitcoin itself,

[nc50lc]

@OP Thanks for the warning, but isn't it obvious?
If you will start a poll to all users here that thinks the same, you will get the majority vote for "yes".

All investments aside from cryptocurrencies are always an unknown venture.
Whether you researched a lot about the project or not, there will always be a possibility of a scam or bankruptcy.

Now, ICO are not different but the platform is unregulated, it isn't hard for a working brain to think that most of them are likely scam.
With enough research, advertising and "backing", you can point out which one is legit, a possible fail or scam project.

[Cardan0]

@OP Thanks for the warning, but isn't it obvious?
If you will start a poll to all users here that thinks the same, you will get the majority vote for "yes".

All investments aside from cryptocurrencies are always an unknown venture.
Whether you researched a lot about the project or not, there will always be a possibility of a scam or bankruptcy.

Now, ICO are not different but the platform is unregulated, it isn't hard for a working brain to think that most of them are likely scam.
With enough research, advertising and "backing", you can point out which one is legit, a possible fail or scam project.

The thing with WAVES, of which I do hodl some, is that it makes creating a token a child´s game. So it is much more easy to use it to produce worthless crap that other, that at least require a minimum programming ability.

[Cardan0]

I am not making an accusation here, these business could potentially be legitimate but I would like to know your comments:

A proposal for a lottery

https://bitcointalk.org/index.php?topic=2827625.msg28975672#msg28975672

A project that mixes social networks, payment and every buzzword out there. This is all over the forum with various ANN threads.
https://bitcointalk.org/index.php?topic=2748393.0


What is wrong with these projects?

They want to have a market cap of 100 million and more than 7 BILLION respectively right from the start.

How?

Launching lots of tokens and selling only a few for a relatively high price.

Example:

The lottery project issues 100 million tokens and sells a small amount for 1 USD. The theoretical Marketcap is 100 Million. The sad reality is that every dollar you put into it is basically lost, because that is unlikely to be true.

The other project is even worse. They intend to have a market cap of more than a Billion USD. Investing on these gives you exactly the same result: loss of all investment unless they became the next Facebook.


The only unlikely possibility is that these business were actually worth 100 million and 7 billion. Do you think they are?

how do you define in crypto a scam? seriously?

practically every cryptocurrency sect claims from itself its undervalued and more valuable than other token...

why is bitcoin not a scam? everybody that works for bitcoin can also then work for other cryptos as well

in my oppinion the biggest scam of all is bitcoin itself,

You have to be kidding... One thing is to say that your utility token is worth x2 or x5 the ammount you intend to rise on an ICO. Here we are talking about x 1 000 000 000 .... Can´t you really see the difference, or is just that you did not read.

BTW, if you think BTC is a scam .. why are you here?