LuckySarah
Jr. Member
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Activity: 88
Merit: 2
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February 14, 2018, 04:48:52 PM |
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BITCONNECT is a scam ICO. And now they are ready to launch a new project. Hope that no one will be a victim of this same project. Focus on its concept and plans because no one wants to be on the same boat as the traders and the bounties of that project.
Anything that has a word "Bitcoin" in it's name is a scam which is just using thrustworthy name of a good coin for advertisement.
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Go-go-go, power girls !
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iDrago
Newbie
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Activity: 154
Merit: 0
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February 14, 2018, 04:50:27 PM |
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Nowadays scam projects have high-end ideas as you can see like loopx, that noone can exepct problems with them. So reading white paper is not enough.
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trudovik
Member
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Activity: 546
Merit: 10
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February 14, 2018, 04:52:05 PM |
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Wow this is a very cool guide to identify the project, thank you very much for the opportunity to look at your thoughts, but still we will say that this too can not give 100% guarantee for the whole thing. In any case, it will be possible to minimize risks
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RivAngE
Full Member
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Activity: 728
Merit: 169
What doesn't kill you, makes you stronger
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February 14, 2018, 04:53:35 PM |
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Nice list.
Unfortunately when it comes to ICOs, there are things that cannot be done, like looking into the history of the project or the background of the team (well some times this can be done). Even legit ICOs that have done great would seem like scams under some rules.
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alexzorgo
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February 14, 2018, 05:02:11 PM |
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I will add here a few of my items for project analysis Some aspects for verification of the ICO projects:
1. Legal status of the company and its activities standing behind the project 2. Team whether there are checked public profiles? At least in team there shall be a business expert, the expert with technical skills. Presence among advisers of famous people, their reputation. 3. Tokens: distribution, turnover in an ecosystem, placement at the exchanges. 4. What problem is solved by the project and how? 5. Distribution of tokens: especially a team share if it is more than 25%, then it is necessary to treat the project with care. 6. The restrictions imposed on the tokens belonging to a project team: if there are no restrictions, the lack of long-term obligations before the project is possible. 7. Project code: if open-source, what activity of developers. 8. The hype level on social networks and on the websites. What famous people are involved in public relations, their reputation? 9. Partnership with the project? Who and it is how serious? 10. Prototype or minimum viable product (MVP) of the project? 11. The project has competitors, the level of their development? 12. Relations with venture investors? 13. Project Roadmap, reality of plans and terms?
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aleksandra_kickcity (OP)
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February 14, 2018, 06:44:43 PM |
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Nice list.
Unfortunately when it comes to ICOs, there are things that cannot be done, like looking into the history of the project or the background of the team (well some times this can be done). Even legit ICOs that have done great would seem like scams under some rules.
true, unfortunately, you can never be sure. but i hope this list will help someone
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btc_love
Member
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Activity: 566
Merit: 13
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February 15, 2018, 12:02:55 PM |
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I will add here a few of my items for project analysis Some aspects for verification of the ICO projects:
1. Legal status of the company and its activities standing behind the project 2. Team whether there are checked public profiles? At least in team there shall be a business expert, the expert with technical skills. Presence among advisers of famous people, their reputation. 3. Tokens: distribution, turnover in an ecosystem, placement at the exchanges. 4. What problem is solved by the project and how? 5. Distribution of tokens: especially a team share if it is more than 25%, then it is necessary to treat the project with care. 6. The restrictions imposed on the tokens belonging to a project team: if there are no restrictions, the lack of long-term obligations before the project is possible. 7. Project code: if open-source, what activity of developers. 8. The hype level on social networks and on the websites. What famous people are involved in public relations, their reputation? 9. Partnership with the project? Who and it is how serious? 10. Prototype or minimum viable product (MVP) of the project? 11. The project has competitors, the level of their development? 12. Relations with venture investors? 13. Project Roadmap, reality of plans and terms?
oh that is a great list! thank you!
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Dluretic
Member
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Activity: 224
Merit: 10
The Experience Layer of the Decentralized Internet
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February 15, 2018, 12:08:06 PM |
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I would like to carefully observe whether this project is a scam before investing in the ICO. You can search for the relevant code on gtihub. Generally speaking, good project code is open source.
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ismelda_ita
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February 15, 2018, 12:11:21 PM |
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You can't always be sure if a project scam or not. But I decided to make a list of steps every newbie should cross before investing a project Step 1 - you need to visit a website. You need to make sure there is white paper, team, advisors and links to social networks (a project without this information can't be trusted); Step 2 - you need to read a white paper carefully. Pay your attention to the idea, concept and realization; Step 3 - check out all social networks and blogs. If the project is alive there should be regular updates; Step 4 - you need to contact the team. The feedback is very important thing. If the team doesn't answer you it is a bad sign; Step 5 - join this project community (telegram chat or btctalk tread). There should be 24/7 communication; Step 6 - google information about the project. Read articles about the project, try to find team interview and events they recently visited. It is good if a company exists for a couple of years, has its history and generates revenue; Step 7 - read information about advisors. If advisors have a good reputation and they have their successful projects. Here are good developed communities examples: https://t.me/kickcity_chathttps://t.me/matchpoolIf you have you ideas please share. Let's make crypto community safe together! this information is very useful and very good for beginners who want to invest in ICO project. because I've experienced an investment that ends a scam. I lost a lot of assets because I did not read first about the project.
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aleksandra_kickcity (OP)
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February 15, 2018, 12:13:40 PM |
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I would like to carefully observe whether this project is a scam before investing in the ICO. You can search for the relevant code on gtihub. Generally speaking, good project code is open source.
true. one os the most important things for a company is transparency
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Dart18
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February 15, 2018, 12:20:55 PM |
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Just doing the number 1 step will take care of all. First thing is the team behind it. See to it that it is legitimate. (There have been some here that grabs photos and informations from other people)
Look at their service. Legitimacy and also if it is worth to invest with. Other information will come as you know them more. Future plans.
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aleksandra_kickcity (OP)
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February 15, 2018, 12:29:34 PM |
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Just doing the number 1 step will take care of all. First thing is the team behind it. See to it that it is legitimate. (There have been some here that grabs photos and informations from other people)
Look at their service. Legitimacy and also if it is worth to invest with. Other information will come as you know them more. Future plans.
true. Thank you for this list
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millenniumcoin
Jr. Member
Offline
Activity: 98
Merit: 1
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February 15, 2018, 12:40:53 PM |
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I always considered first, the team behind the project : These should be real experts in what they claim to do with their project. check for their regalias and other signs of expert status. I also check , the whitepaper,the coin supply,and the roadmap.
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jakiro.hovard
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February 15, 2018, 12:44:57 PM |
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Of course, calling project fraud is also a very responsible business, because as soon as people begin to say that the project is fraudulent, the project's collections are instantly reduced and the project, along with developers, acquires a bad reputation.
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aleksandra_kickcity (OP)
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February 15, 2018, 01:42:24 PM |
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Of course, calling project fraud is also a very responsible business, because as soon as people begin to say that the project is fraudulent, the project's collections are instantly reduced and the project, along with developers, acquires a bad reputation.
True. I dont like people blaming a project scam when it's actually not
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kaeluxdeuz
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February 15, 2018, 01:49:54 PM |
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Everyone should do their due diligence when looking at investing in any ICO. It's very important when your looking into ICOs and researching them. You need to do so thoroughly. It can be hard choosing especially now with all these scam projects around.
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dark08
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February 15, 2018, 01:54:58 PM |
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You can't always be sure if a project scam or not. But I decided to make a list of steps every newbie should cross before investing a project Step 1 - you need to visit a website. You need to make sure there is white paper, team, advisors and links to social networks (a project without this information can't be trusted); Step 2 - you need to read a white paper carefully. Pay your attention to the idea, concept and realization; Step 3 - check out all social networks and blogs. If the project is alive there should be regular updates; Step 4 - you need to contact the team. The feedback is very important thing. If the team doesn't answer you it is a bad sign; Step 5 - join this project community (telegram chat or btctalk tread). There should be 24/7 communication; Step 6 - google information about the project. Read articles about the project, try to find team interview and events they recently visited. It is good if a company exists for a couple of years, has its history and generates revenue; Step 7 - read information about advisors. If advisors have a good reputation and they have their successful projects. Here are good developed communities examples: https://t.me/kickcity_chathttps://t.me/matchpoolIf you have you ideas please share. Let's make crypto community safe together! Thanks for this guideline on how.to avoid a scam ico project but in my opinion we cannot really know a scam project because now a day theres a lot of promissing ico project that attract every investor if you want to invest in some project make sure it has an active developer and have a great or experience campaign manager to project their project.
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sarojan9980
Member
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Activity: 118
Merit: 10
My Identity Coin
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February 15, 2018, 02:02:29 PM |
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thanks for sharing this information but now a days so many campaigns are scam. how can they find real campaigns. scaming campaigns also looking like genuine campaigns. how can i trust on this information.
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AzureDragon
Member
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Activity: 244
Merit: 20
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February 15, 2018, 02:07:20 PM |
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Thanks the author for the list. I woilud add roadmap as a importnant step. Roadmap sholud be very detailed. And the terms that the developers set themselves should be adequate to the task posed.
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RoonyBlack
Newbie
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Activity: 26
Merit: 0
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February 15, 2018, 02:25:10 PM |
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Hard to say. For me, the projects where the founders has no idea what the users can do with the tokens/coins once the project is life is a scam. I mean, if in the whitepaper there is nothing regarding the tokens/coins once the project is life....this is bad.
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