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Author Topic: Easiest way to stop ICO scam is  (Read 1040 times)
caloriecoin (OP)
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February 04, 2018, 03:20:52 AM
 #1

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.
JinCrypts
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February 04, 2018, 03:27:07 AM
 #2

As if you can control the people behind of the ICO to scam others or be honest. There are no easy way to stop ICO scam, only by research thoroughly you will lessen the chance of investing to a scam ICO.
I've read a nice guideline on how to avoid being scam by ICO check this: https://bitcointalk.org/index.php?topic=2822896.0

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bitcoinbelieve
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February 04, 2018, 03:32:57 AM
 #3

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.

scam is always there but you could eliminate most of it. I strongly you follow Ian Balina (youtuber). He developed his own data matrix to determine which coin is good or not. He started out like everybody else in 2017 and in the end he is millionaire. Don't follow him every step but learn his process and apply it on next ICO
gizmodo1987
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February 04, 2018, 03:36:10 AM
 #4

I think we cannot stop ICO from doing scam. People just need to be vigilance. Do a research and ask for advice to others before jumping into ICOs.
cryptopussies
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February 04, 2018, 03:41:07 AM
 #5

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.
ICO scams wont stop not unless there will be some regulatory board to regulate ICOs which is impossible because cryptcurrencies are decentralized assets,the only thing you can do is to do your own research in each and every ICO you wanted to join for you to be sure that you wont be scammed.Do not let other people give you ICO suggestions,know them by yourself and you will never be scammed.

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bitcoinbelieve
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February 04, 2018, 03:43:31 AM
 #6

I think we cannot stop ICO from doing scam. People just need to be vigilance. Do a research and ask for advice to others before jumping into ICOs.

It is correct to say to research about ICO company but what is the process of actually researching, that is really hard question. Most people will never read white paper and just gloss over the everything. There is no critical thinking involved, it is just like "oh, website looks nice and teams looks legit so it must true". This is what I use to do
Torps1
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February 04, 2018, 03:46:12 AM
 #7

Do a thorough research before investing in any ICo to minimize scam. Check the problem intended to be solved by the project; it will enable you to know if the project can stand the test of time or not. Also check the team, Whitepaper, etc.
Dirk2017
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February 04, 2018, 03:47:41 AM
 #8

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.

I believed that the best way is to screen out scam ICO by have it regulated by the government in this way the government well required the ICO owners to submit necessary documents for them to have permit to do business and also know your costumer which is commonly called as KYC is must be always in effect.

cpfreeplz
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February 04, 2018, 03:49:46 AM
 #9

I don't even get your OP. Did you maybe want to elaborate if you think this is a genuine good idea? So I purchase ETH, am I supposed to send it directly to an ICO you say? From an exchange? That's the opposite of what you should do. How does what you're saying here help to not get scammed by a sketchy ICO?
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February 04, 2018, 03:55:02 AM
 #10

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.

I don’t see that is helping to stop the scam anyway. The KYC ruling came few weeeks ago when some of the countries started banning the illegal projects all over the nation. This concept was not even in the existence before that. The method you depicted here was the only way to grab the tokens. We use to send the ETH or BTC to the contract address and the tokens were automatically sent to our address. This is not new one but the traditional one. Now, the time has changed and we have to use KYC procedure as part of legality. That’s different case anyway.

In addition to that I’m sure scammer can get away by many other different ways and there is no stopping to that one with easiest ways.

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Grim149x
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February 04, 2018, 03:58:23 AM
 #11

Scam ICOs can't be totally stopped in my opinion. However, it will be regulated and that will lessen the number of ICO scams. The best thing people can do as of this moment is do their research and put to heart how to avoid these scams as they are everywhere.

befriendmywater
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February 04, 2018, 04:04:00 AM
 #12

Scam ICOs can't be totally stopped in my opinion. However, it will be regulated and that will lessen the number of ICO scams. The best thing people can do as of this moment is do their research and put to heart how to avoid these scams as they are everywhere.
I think we will have no way to stop the scam project. Because it's all anonymous, it's really hard to improve. So let's take a closer look at the projects before joining.
To combat scam projects, we should read the information on that project very much and make a decision. We also need to look at their staff. There are many projects that are great but it's bad when their staffs are so bad. That makes the project unprofitable.

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BillCoin
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February 04, 2018, 04:06:26 AM
 #13

The big deal about ICOs is that you don't need to fill any KYC document in order to participate, it helps a lot of strong people to money launder.
They put a big amount of white money into the ICO, then they manipulate the price of the ICO tokens with black money, and then they sell the tokens that they purchased with the white money and sell them for a much higher price.
There you go, the black money turned into white money in no time.
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February 04, 2018, 04:10:18 AM
 #14

For me , ICO projects that have no funds to pay bounties like signature campaigns that they cannot pay BTC weekly. They can be probably intend to scam when they cannot even reach their soft cap. Its easy to identify with that. Just invest on some ICO's that promoted by some good manager like yahoo62278, Lauda or signatures of some moderators. You can be surely that you cannot waste your money from investing.
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February 04, 2018, 04:19:56 AM
 #15

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.
KYC has still some use for most of the campaign and  ICO founders,they will be protected from these abusive ICO participants who is doubling their  registration it will prevent unfairly distribution of stakes from the investors,fraudulent activities will be lessen but the downside with this would be your identity can be sold to others,and can be used to identity thefts,the best thing to do is do not participate any of these ICOs if you are concerned about your privacy.

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February 04, 2018, 04:21:40 AM
 #16

Let ICO holders automatically send coins to your Ethereum wallet just after receiving your Ethereum

Just like, betrium.co is doing.

KYC is really useless for crypto currency traders.

Easiest way to stop scum ICO is to pay no attention to it after you understood that it is scum. More attention - more scums.
CryptoDemonElite
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February 04, 2018, 04:21:53 AM
 #17

Research is the only way to go. Your method is not going to work, they still got your ether or bitcoins.
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February 04, 2018, 04:30:03 AM
 #18

i guess the purpose of kyc is not to stop the ico scam. the easiest way to stop scam ico is escrow service.
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February 04, 2018, 04:34:42 AM
 #19

Scammers will never stop until they already gained anything from scamming, you can only do is avoid being scammed and have yourself distance from scammers by doing research and having people to trust and asking them if an ICO is legit.
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February 04, 2018, 04:35:28 AM
 #20

Only thing that can stop these ICO scams is a regulation which is impossible because most of the people using cryptocurrencies want decentralization in our system,if there will be regulation its like becoming a centralized offering which isnt healthy in our decentralized market,either way you can have a lot of time to do some research if you are really into this ICO investment,but if you are a good trader you shouldnt be participating any of these because you can earn more in trading altcoins!

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