RankerCan (OP)
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Merit: 11
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June 02, 2018, 01:20:43 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud?
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"If you don't want people to know you're a scumbag then don't be a scumbag." -- margaritahuyan
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limmousine
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June 02, 2018, 01:54:24 PM |
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it is very difficult to distinguish the promising ico and ico scam. researching the entire contents of a whitepaper is also not enough to ensure an ico. I am also confused to make sure, maybe we need friends or local community to ensure or decide an ico that we will choose.
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pinoyrichkids
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June 02, 2018, 01:54:46 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud? I also use the same strategy as you have., but for me, whatever types of this information that we could get from reading all those information from their website, its the willingness of the developers team is the most important in running the ICO or the project, it doesnt matter how good the roadmaps, the team members or anything, because its just a showcase of themselves posted on the website. so we have no assurance on how legit it was. So i will stick with my always 1 rule, in investing an ICO, a cross finger that the only Creator on earth will guide them to pursue their projects
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RankerCan (OP)
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Activity: 148
Merit: 11
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June 02, 2018, 01:57:20 PM |
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maybe we need friends or local community to ensure or decide an ico that we will choose.
It may be possible for few ICOs for sure but not with hundreds or thousands of ICOs launched globally. If we don't have a workable strategy bad guys will continue to steal money.
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Agozyen
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Until the end
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June 02, 2018, 02:10:12 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud? Whitepaper is okay, check it for spelling and grammar errors. Roadmap is almost useless if they are a scam. They can say anything they want and make it look good. Basically it's a list of promises. Team member details though is where you can get the most bang for your buck. No last names? SCAM. No social media profiles? SCAM. Not on LinkedIn? SCAM. There are exceptions to this though, there are a few Crypto personalities that are known by there crypto-names, like JL777. He has been around for a while now and is a major developer of the Komodo Platform and before that Bitcoin Dark. If you can find information about the team members on social media and interact with them before investing then the chance of a scam goes down. Make sure if you do find them on Facebook or whatever that they have been around for a long time. If you find team members that all have their social media profiles made the week before the ICO was announced it is a scam.
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marks1976
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June 02, 2018, 02:23:00 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud? The code, whitepaper, the history of tema and the community feed back about that. But it will be very important to understand the code. Remember the community is also playing a really important role to determine which is a scam ico. Because you will have more support data.
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mitrajkt
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June 02, 2018, 02:51:59 PM |
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My trick is always so, I read the white paper, roadmap, website and others about it but there are still lies only some of them who appreciate me, thanks to the enlightenment of senior friends above my knowledge so increased.
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Lisk_beginner
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June 02, 2018, 02:58:14 PM |
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I was scammed By clout team with sean kirtz. They worked with big name as David Cohen (David was a member of the IOTA Foundation during the IOTA Token Cryptocurrency launch).
Now, I look: -activity on bitcointalk by team -activity on bitcointalk by community -Bounty campagin: too many bounty hunters= dump wuickly. You could see this on their telegram with dumb questions by bounty hunters -whitepaper + repartitions for the tokens
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Oceat
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June 02, 2018, 03:03:53 PM |
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it is very difficult to distinguish the promising ico and ico scam. researching the entire contents of a whitepaper is also not enough to ensure an ico. I am also confused to make sure, maybe we need friends or local community to ensure or decide an ico that we will choose.
You don't need any friends for any promising ICO, it's just that most of the ICO manager or the team are taken control by their greediness and doesn't want to continue what they have started. That's why it is good to look for a reputable team that has worked before and has already a project that is being done and it is less risky compared to a new group of team who is more riskier sometimes.
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3996
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MoonJeina
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Make winning bets on sports with Sportsbet.io!
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June 02, 2018, 03:25:49 PM |
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Is going through white paper that easy ? White paper is such a long document . We have to participate so many bounties at same time for social media , telegram etc . So is is a very good way and time efficient way ? Because for a naive user , going trough white paper will also not help to recognize the project as a scam or a genuine project . we just have to discuss it with the old players to authenticate the project .
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imperatron
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June 02, 2018, 03:34:53 PM |
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It is very hard to avoid all ICO scams and frauds, because there are always people and projects that look very legit, but in the end they are just running away with your money. You should do a lot of research about the people behind the project before you invest into ICOs.
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kharismac999
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June 02, 2018, 04:40:12 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud? To avoid ICO scam, I chose an ICO that gets a good rating on some ICO Rating Portal like icobench, icotracker, tokenmarket etc. Also, see from partnership and media publication. It's just my opinion. CMIIW
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allahabadi
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June 02, 2018, 05:38:02 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud? Your startegy is something that is basic. I look at listing on ICODROPS, also videos of team AMA or conferences. Video review by Ian Balina or OHM or TGO also helps. Roadmap and WP are mostly word jargon, so no use wasting time there...
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pey
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Free Crypto in Stake.com Telegram t.me/StakeCasino
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June 02, 2018, 05:44:27 PM |
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I have no strategy because it is not important what kind of strategy you have for ICOs that are actually not investment, believe me you just support '''foundations'' financially, that is not investment.
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Katabit
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ENTRY cryptocurrency
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June 02, 2018, 06:29:01 PM |
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Scammers very often hide their faces. They also forge photographs, white paper, white paper. They provide false data on the collection of funds on the presale (it is usually indicated that the project has already gained an impressive amount). Their site is usually made very simply, they do not go to direct contact (again, to save incognito), etc. There are a lot of information about this in the forum.
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Mihaylovic
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June 02, 2018, 07:41:50 PM |
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you can not understand it by reading whitepaper easily. the best way is to check the team and advisors. if they are known people and has a strong background and experience you can trust in project, if there is noone known it may possibly be a scam.
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wxa7115
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June 02, 2018, 10:00:45 PM |
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We all are well aware of ICO frauds. I use the strategy to start with a whitepaper, see team member details and the roadmap. What strategy you adopt to make sure the ICO is not a scam/fraud? In my opinion that should be the minimum necessary to invest in an ico, but most people do not even bother to do that much which is one of the reasons of why we see so many people getting scammed all the time in the forum, people only care about getting profits and in their search for profits they ignore all the warning sings that a coin is not what it looks like.
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Swenna
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June 02, 2018, 10:01:30 PM |
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Nowadays, you cannot just rely on the contents of the whitepaper anymore. Even documents can be falsify now. Also, you'll need a lot of time to analyse an ICO's whitepaper and even that has no assurance of it being legitimate. Just like what the others have mentioned, I tend to look at the team members behind the project, if their expertise and fields are accurate to what their project is and they have already established a good name or has previous projects that have taken part of, then they are legit. In case they are all newbs and just had their first project, look at the advisers and research about their credibility and previous works, too. Sometimes, expert investors just follow their gut feeling, but I highly don't recommend this as most of this investors had already had years of playing in the investment world and had gain enough experience to trust their own intuitions.
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Tankdestroyer
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June 02, 2018, 10:06:29 PM |
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What strategy you adopt to make sure the ICO is not a scam/fraud?
I also do strategies mentioned by others to make sure an ICO is not a scam/fraud but data gathered from researching is not enough for me to decide if an ICO is scam or not. Often times, I observe telegram group and how team does their public relations, and after observing for a while, I use my gut feeling to decide if an ICO is scam or not, or if I will invest onto it or move on.
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binarhingar
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June 02, 2018, 10:15:54 PM |
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sometimes ico scam is the same as ico that is not a scam, until now i have not been able to distinguish it, start from white paper team or se detail detailing in white paper. we need friends to exchange thoughts, we here have bounty hunter grub and this is where we often exchange thoughts and exchange links bounty.
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