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Author Topic: Suggestions on how to create a scam free ICO platforms  (Read 81 times)
fortresscrown
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June 22, 2018, 12:21:51 PM
 #1

As of ending of last year, l lost some money in scam ICOs example bitbase, chronium and so many others. This got me thinking. I am very much aware that cryptocurrency is not under any jurisdiction or government but is there a way to create an agency or rather blockchain that will be responsible for approving ICOs  before it can be published or accepted. It must have been scrutinized by these agencies/blockchain.
It's just a suggestion, your opinions needed.
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Avalonist
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June 22, 2018, 02:59:05 PM
 #2

There are some ICOs using escrow services or BTT trusted members as escrows holding funded crypto until
project reaches cap or until projects distributes tokens. Looks pretty secure to me
jseverson
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June 22, 2018, 03:33:42 PM
 #3

I am very much aware that cryptocurrency is not under any jurisdiction or government but is there a way to create an agency or rather blockchain that will be responsible for approving ICOs  before it can be published or accepted. It must have been scrutinized by these agencies/blockchain.
It's just a suggestion, your opinions needed.

Agencies from the community itself is a no-go because of our heavy emphasis on decentralization. Creating a centralized unit which decides whether an ICO is good or not goes against majority of the community's principles. Maybe some governments can form their own, but they'll only have jurisdiction over their own country.

A blockchain will be built on code, and I'm pretty sure those who want to game it will be able to. It has to be fully automated to even be considered decentralized, and even then if just one group created it, it may not be decentralized enough. I personally don't think it's possible, but who knows.

My suggestion is to just ignore ICOs for now. Very few are actually legitimate anyway, and they're easy enough to spot if you actually scrutinize them.

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June 22, 2018, 03:39:26 PM
 #4

To me,  I think they should be a regulatory body guiding the  ICO schemes  so as to avoid fraud and they should be made to pay a certain amount before such ICO  are sold which would then be return after a listing on CMC and a good exchange. Furthermore, ICO should be thoroughly screened and scrutinized by the regulatory body after following a laid down rules and regulations.
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June 22, 2018, 04:23:15 PM
 #5

There are many scam ICO's release day by day because the program itself is open source so they can make a clone and promote like a real project but they are just made it scam and I think you must know first who are developer members of the projects and check them if they are member of this forum if you see if they are higher rank account it means you are far from scammers.
All in ICO's are too risky there's no way to know if the project is real or not. So make an investment if you can afford to lose and I suggest that invest on altcoins because those are real project than tokens and ICO's.


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June 22, 2018, 05:13:48 PM
 #6

I think having a body that will look into this is good but such body will need to be truthful and that's where the problem will lies later ....
Bunmi1989
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June 22, 2018, 05:26:26 PM
 #7

 I agree with you there should be a strong body in place to screen all this new project coming out as their are maybof them with nothing to offer and not really solving any problem
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June 22, 2018, 06:56:52 PM
 #8

You have to forget about scams and don't try to copy them.
Don't think that those scamers can take our money without being punished.
Think about a project that may improve the crypto network better than thinking about how to scam us.
theymos
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June 22, 2018, 07:15:42 PM
 #9

Quote
how to create a scam free ICO platforms

Create it in your imagination.

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June 22, 2018, 10:56:36 PM
 #10

scam free ICO platform only exists in utopia world, 100% scam free is impossible
even in our real world, financial businesses regulated and supervised by government or other institutions can still turn scam
since we are dealing with decentralized crypto and pseudonymous privacy, enforcing regulations is a bit tricky
so the only thing can be done is making guidelines for prospective investors who wants to jump into crypto ICO world
and it's the investor own responsibility to learn and make himself well informed before buying into ICO

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June 22, 2018, 11:36:22 PM
 #11

All you can do is study a lot before putting your money in an ICO.
Or delegate it to others. I've been following some pools that got really hardworking admins. If you want I can send you some names. Just send me a PM.

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June 23, 2018, 05:50:15 AM
 #12

The rate at which scam is taking over the crypto world can't not be overemphasis , scam is becoming a rampant thing nowadays in the blockchain and I think it lies in the problem of not having a regulatory body for checking ICOS 
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