How we can stop scam ICOs lanching?

[ifanxu]

It's a pity that you can't stop this kind of thing and anyone can easily launch ICO unless this piece of law is perfected in the future.

[1714695903]

1714695903

[adekogbe]

It costs almost nothing you create an ICO, it takes basically a very well thought idea, a professional writer to compose the whitepaper and then ask for millions of dollars.
I believe there should be a rule to protect investors from falling for this kind of scams and a working product should be a necessity for every project before the ICO is launched.

[cryptoloverlife]

ICOs are a new way to collect money for businesses online. Most of them are fake or die out without any conviction. There are no government regulations also, despite of this we invest in them, we should stop being greedy.

What the best we can do is to analyze if the ICO is genuine - the team, experts, management, the prototype, the community, supply, cost, road map ahead, etc.

[WaffleMaster]

I think we should protect to issue scam ICOs in the crypto market. It creates misconception between new user and about market. What you think?

It's not really a misconception if nearly the entire market in altcoins is scam ICO's... it simply is just something that has remained true which is altcoins generally are scams. Just ICOs are a new way to scam people with altcoins or tokens. The market has been like that for a long time and the only way to prevent it would be to ban ICO's on the forum, which is not a solution that can be taken.

[crypto_nd]

I don't think this can be stopped but i believe it can be controlled. IMO a form of verification should be done before you are allowed to lunch any ICO. or maybe ICO regulatory board should be set up, where the board make decisions and also introduced a form of penalty for ripping off their hard earned money.  

[ngantrann206]

I think it cannot be stopped. Scams are everywhere and you cannot resist them actually. But yes, we can avoid them and then ban them. We can discourage them by avoiding properly.

[Will.Smith]

The problem of fraud can be solves only with reasonable regulations. Governments should look after the projects and their activity the same way as they look after business organisations. SEC looks scary for the market but it can do the job and well. Other governments will look for what SEC is doing and repeat. We saw it many times on the stocks market. The same way will be in crypto.

[ethergod]

We can't fully halt the emergence of fraudulent ICOs, but we can urge people to do their own due diligence and carefully vet the ICOs. Investors must be very skeptical of all ICOs. Fortunately, there are plenty of warnings about fraud, so it's on investors to take some responsibility for their decisions.

[dangwapo311]

You can't stop people from launching ICOs. However, you can educate people and make them be able to distinguish a scam from a legit project. It's not an easy task though, people are no longer interested in learning, they just want profit so they'll put their money in any project that have a high score in TokenMarket or other scoring sites.

Yes I believe you are correct sir. Educating is the key to stop people from getting fooled into joining fake or scam ico's. We can help spread awareness and informations on how to spot and tell if this ico is legit or scam. We must help each other specially those who have little experience with icos.

[patz22]

No one can stop or can even see if an ICO is planning to scam. It is very hard even you took take time to do your own research about it reading reviews and other stuffs. That's why investing to ico is very risky compared to buying a dump coin in the market. Regulations I believe will not be helpful, if the team or person is planning to scam they will definitely do it whatever the rule is. Do you know how government works? Politics? Corruption? They can simply pay them.

[mbangsar04]

I think we will not be able to stop the scams that are in ico. it is not possible we will tell people that ico scam is very dangerous, they may not listen to us. they only think of profit, they never think of anyone else.

[crazyboom]

The main feature of the market of crypto currency is that it runs on the basis of decentralization. It has no central authority to regulate the market. Since the market is decentralized, it is not possible to stop scam coins from launching in ICO. Moreover it is also difficult to recognize coin as scam until it comes to the ICO.

[seandiumx20]

You can't stop people from launching ICOs. However, you can educate people and make them be able to distinguish a scam from a legit project. It's not an easy task though, people are no longer interested in learning, they just want profit so they'll put their money in any project that have a high score in TokenMarket or other scoring sites.

It is possible to stop an ICO launch, it is based on my experience. We spread the news about the scam project before the ICO begins, if you have many proof that the project is a scam, then it has a possibility to be deleted. That's why scam accusation section exist.

[johnalyn]

We can't stop them in any way but we can remind some investors not to buy their currency that they advertising and in that way if we know the ICO that running is a scam we can make them not to scam other people. Just like my other ICO I joined before a concern people who ask me not to invest in that ICO to prevent from losing my investments.

[dongosquad]

It is possible to stop an ICO launch, it is based on my experience. We spread the news about the scam project before the ICO begins, if you have many proof that the project is a scam, then it has a possibility to be deleted. That's why scam accusation section exist.

That's the right move. otherwise, if you can find evidence that the project is a scam, you can create a thread here to warn and discuss it with other bitcointalk members. Based on my experience, it is very effective to stop a scam project.

[moshk555]

Most of the  ICO in the market are scams even though integrate themselves to the ethereum blockchain network and the smart contract, the only way scan ICO can be stopped is if they do not receive their payments  immediately but in installments

[liam111]

It is very easy to stop the scam icos. Simply dont participate in it  And scammers will disappear, because will be very careful about his funds.

[cheese_x]

We should check the whitepaper of an ICO before investing on it, it should have a realistic offers and not the too good to be true because it may smell fishy in the first place. Investigation is a must before  joining on a ICO, you must check its user's review and should be supported and has positive feedback from the community.

[frowsiter]

I think we should protect to issue scam ICOs in the crypto market. It creates misconception between new user and about market. What you think?

We simply cant do that by all ourselves. Scam ICO's should be recognised individually and must be warned to everyone on the forum before they catch others and scam them.
You can only get awareness about it this way but you cant simply ban the ICO's or hunt the scam ICO's and close them. Remember we are on the decentralised stage and here everything is ran over the public knots and we can not stop anything here as long as it comes under some jurisdiction etc. If there had been any way then I am sure we would have ended up closing almost 90% of the ICO's. lol

[amanarora_1]

To stop scam ICO's, We should follow experienced crypto user advice and experienced ICO investorshould share their experience in words with newbie's by telling him to don't participate or believe in that ICO's. Otherwise, there is a now way to stop scam ICO's. If we don't participate or believe in it, then scam ICO managers will automatically stop there project. But the main thing is, in this world nobody like to read! People just wan't profit and invest in that ICO scam project which has high marks in fake sites.