goldexp83
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quarkchain.io
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February 21, 2018, 08:15:07 AM |
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It reminds me of the early days of the internet!
we need more education and understanding on how the scams work and operate, it’s gonna take some time, probably years until it will be a standard, I personally try to help and report whenever I can!
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Every time a block is mined, a certain amount of BTC (called the
subsidy) is created out of thin air and given to the miner. The
subsidy halves every four years and will reach 0 in about 130 years.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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anzhanbei1214068
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February 21, 2018, 08:17:15 AM |
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thank you If a company makes money, it doesn't need to make an ICO, especially if the founder is rich.
The ico concept needs to be regulated and people should fully understand what they are investing in. I don't want more people to be cheated.
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neonshium
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February 21, 2018, 08:37:15 AM |
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- Scams attract regulators - More scams attract more scammers - People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money. - You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS.
I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams:
Sometimes investors doesn't tend to look at any list so I see it will not be effective. There are also cases that an ICO will show their great innovations at first but after investors already throw away their money, then that is just the time that a scam ICO will show their true colors so in the end, still busted. Well there are obvious scam so I doubt others can still eat the bait here but generally, it's up for investors itself to make an adjustment so that they can minimize the risks of being scam. As for me, the always thing Im looking for an ICO is pure exposure not just on the web but on the physical appearance itself like helding seminars, events etc. In this way, somehow* we can see that they are really transparent. Another one is legality and must be approved by SEC. Another option could be, Bitcointalk community must imposed a "payment" before anyone can promote an ICO here. Although not an assurance after all that there is no scam thing even my considerations will take placed on a certain ICO, but at least it can minimize the risks. So overall, it's on investors side who have to adjust. At the end of the day, I fell most of these problem comes from investors. They just gladly take whatever is being thrown at them and since that has happened several times, more scammers tend to see it as a way to make more money, and hence, we keep seeing more of them stepping in. Glad that we have someone like OP is standing up for a cause like this, as it is time investors started realizing that, not all ICOs should just be grabbed without being logical about it.
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Dragon5
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February 21, 2018, 09:02:31 PM |
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It is really difficult to stop scams and track the scammer. All we have to do is to be aware always that scammers are always around and looking for their next unsuspecting victim. They have only one thing that drives them to scam people: Greed. Expect more scam ICOs in the coming months to forewarn youself if you are planning to invest. Better arm yourself with right information from a thorough research on any ICO you want to join.
I couldn't agree more, because it's diffucult to detect scams and find the fraudster as well. Especially, on the internet. The only thing that could help is a research on projects and reputation of any ICOs managers. Take part only in those with previous successful results.
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ylnar123
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February 21, 2018, 09:24:41 PM |
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Hey there, I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances. What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity ( https://www.youtube.com/watch?v=p1ZYGuJXBQE) The reasons why we have to fight scams are fairly simple: - Scams attract regulators - More scams attract more scammers - People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money. - You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS. I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams: * EQUI https://bitcointalk.org/index.php?topic=2888110.0The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test ( http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best. Scammers really misuide investors to invest on a scam ICO. I think there are many ways in knowing whether the project is scam or not. With proper research and study on something you want to invest will help you to identify whether this one is scam or not. People should be aware on this field of investment because this is prone to scam and it is inevitable .
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Lagoons
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February 21, 2018, 09:32:49 PM |
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We can never eliminate scams. It's part of human nature. But if you get a responsible team and list them all here with the logic behind why it's a scam is a great idea.
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gantez
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February 21, 2018, 09:32:55 PM |
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It reminds me of the early days of the internet!
we need more education and understanding on how the scams work and operate, it’s gonna take some time, probably years until it will be a standard, I personally try to help and report whenever I can!
Seriously, helping to report some of these will really help. If we keep quiet and do not do anything about it either because we have not been directly affected by it, then others will keep suffering.
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AimHigh
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February 24, 2018, 11:49:21 PM |
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We can never eliminate scams. It's part of human nature. But if you get a responsible team and list them all here with the logic behind why it's a scam is a great idea.
Yes you are right we cannot eliminate scammers because they are always there and they are also part of our nature. Report a scammers but they are also creating another tp scam again so that you cannot eliminate them. The best thing to do even we didn't eliminate scammers was ignore and more knowledge and learn the way they scam to know that they are scam.
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maculeth
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Activity: 714
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BountyMarketCap
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February 25, 2018, 01:15:24 AM |
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Hey there, I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances. What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity ( https://www.youtube.com/watch?v=p1ZYGuJXBQE) The reasons why we have to fight scams are fairly simple: - Scams attract regulators - More scams attract more scammers - People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money. - You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS. I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams: * EQUI https://bitcointalk.org/index.php?topic=2888110.0The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test ( http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best. what about the token distribution that is delayed for up to 2 months, is it potentially a scam? I am a bit annoyed with its old distribution of tokens, I am just afraid it will not be realized.
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Scavagers
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February 25, 2018, 05:52:13 AM |
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Hey there, I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances. What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity ( https://www.youtube.com/watch?v=p1ZYGuJXBQE) The reasons why we have to fight scams are fairly simple: - Scams attract regulators - More scams attract more scammers - People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money. - You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS. I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams: * EQUI https://bitcointalk.org/index.php?topic=2888110.0The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test ( http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best. thank you ,that was a good move. it is very well appreciated.I think it should be the time to elimimate scammers and teach them their lesson. Many people are being victimized by scam and you should not wait for it to happen to you because it costs you a lot. We should have a report system where scammers can be punished and penalized,I just do not know how without a law being implemented.Even if we can not eliminate them, we can just minimize their number by reporting them to authorities and be subjected to a corresponding case.
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shoujiuhaituo7
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Merit: 3
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February 25, 2018, 06:12:59 AM |
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I agree with you, I think the ico concept needs to be regulated, which should be pushed by everyone, and I see a lot of people who hate fraud.
Because of fraud, many bitcoin users are reluctant to invest and buy COINS, and we must fight the fraud.
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Olalomi
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February 25, 2018, 07:40:39 AM |
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This is obvious a welcome development towards eliminating and eradicating scammers however despite all the security measures put in place by wallets providers e.t.c scammers are also getting sophisticated on daily basis therefore to avoid scamming it is individual prerogative .
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jeanne513lefe
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February 25, 2018, 10:10:04 AM |
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Is it possible to set up a third-party to provide certifications to legit ICO companies? Perhaps the role of it will be similar to that of accountants or risk-rating companies.
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pisston
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February 25, 2018, 11:25:20 AM |
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Is it possible to set up a third-party to provide certifications to legit ICO companies? Perhaps the role of it will be similar to that of accountants or risk-rating companies.
in fact, today there are already several projects that deal with the analysis of ico companies. But I would trust only an authoritative project that has the Trust of many investors.
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labs0918
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Activity: 205
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February 25, 2018, 12:41:24 PM |
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Just be wise in joining networking or any home job that leads to be scam. Make a search about the company you wanted to join if it is legit or not to avoid scam.
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RDNX
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February 25, 2018, 01:36:45 PM |
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I agree with your idea. Most of scam ICO ruined the Crypto community and ecosystem. So, I'll start with my report. Let's take a look bitcoinquick.org I think it's a scam. Their promises to get listed on CMC, but until now, the dev does nothing. The token has been swapped, but the dev is not made an announcement to the community
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Procopiogamscrypto
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February 25, 2018, 01:43:24 PM Last edit: February 27, 2018, 11:43:52 AM by Procopiogamscrypto |
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Hey there, I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances. What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity ( https://www.youtube.com/watch?v=p1ZYGuJXBQE) The reasons why we have to fight scams are fairly simple: - Scams attract regulators - More scams attract more scammers - People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money. - You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS. I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams: * EQUI https://bitcointalk.org/index.php?topic=2888110.0The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test ( http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best. it is our responsibility to be cautious always in different projects we joined, we must check their credentials ,the product and other information related to the said project, it is our self initiative to keep smart and careful to avoid being scammed.
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gabmen
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February 26, 2018, 12:20:25 PM |
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Just be wise in joining networking or any home job that leads to be scam. Make a search about the company you wanted to join if it is legit or not to avoid scam.
Right. Most scams offer easy, quick money with less effort. I think it's easy to spot these moduses if you just keep vigilant and less greedy about easy money. And the internet is an endless source of information so there shouldn't be any reasons why you'd fall for these scams if you're not greedy
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Spades77
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February 26, 2018, 01:09:54 PM |
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I agree, I have lost count already how many scam ICOs have been there just popping up everyday. I agree that this should be regulated and everyone should have a full understanding and total awareness of what they are getting their selves into before investing.
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VladWulf (OP)
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February 27, 2018, 04:04:15 AM |
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You guys should check this video and how we fight scams. Please tell me what you think about it. https://youtu.be/Gysk1MzgfsQ
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