THE SCAMS ARE INCREASING!! HOW DO WE STOP THEM?? ONE REBUKE AT A TIME

[xbossJ]

The number of scams are increasing! most recent is that of BLISS.EXCHANGE. It was well crafted, a website, a facebook/twitter account (all now offline and deleted) although it didn't raise millions, but was able to make well over $15000 in ETH through "Self-drop". With an initial totall supply of 10,000,000,000BLISS which was later increased to 20,000,000,000BLISSX(As renamed) it was able to get upto over 10,000 telegram and twitter follows, it painted quite a wonderful picture of an exchange that was ready for business. Having ran self drop for a month, a lot of people parted with ETH some 0.005 others as much as 2ETH.  people including me fell prey to these scammers (What greed does to you) when you are promised tokens of over 2 million sending ETH of negligible amount, you easily fall for this scum! This however is a warning, a sensitization and a discuss in search of possible advice for people who might still want to fall prey.! I have however learnt my lessons. Your contributions please!!

[Iwillgotothemoon]

This is currently not blocked. Unless ICO is effectively regulated. ICO can increase government tax revenue. This is the best of both worlds.

[Kramblerty]

The number of scams will not be increasing if we (investors) start purchasing tokens provided only by the well-established business entities. For example, if Facebook runs tokens sale (someday) it would be a reliable ICO that everyone could participate and not afraid of scam.

Today, I know only one such well-established company that is running its token sale. it's Kamagames and KGT token. It has $57M in annual revenue + 100M users which are already using its products every day.

[btccrusher]

You can not stop scam attempts, you can stop them from being successful. Just don't jump in any ICO starts out of nowhere, do not even join even if it looks good, well promising, join in the party only they get a huge reputation like biggest exchanges/projects such as Binance, Kucoin. And you can not stop scam ICO that gives you a lucrative offer as a bait, don't fall in the trap.

[yuniguai]

This is currently not blocked. Unless ICO is effectively regulated. ICO can increase government tax revenue. This is the best of both worlds.

Regulating ICO is difficult because the funds raised by ICO are all cryptocurrencies. Unless the government first recognizes the legal status of cryptocurrencies, why should they supervise something they don't recognize?

[houjinglong]

SCAMS is always ubiquitous, especially in the encryption market. ICO is almost always SCAMS since 2018, and we have no way to stop this from happening. This is an unregulated market, so the only way we can avoid being cheated is to not participate.

[JohnsonJesse]

It is really sad to see that despite everything that is being said, the number of scams just keeps increasing on the streets daily. I would like to attribute this to the fact that everyone is just complaining, no one is actually doing something about it. If something is actually done about this thing, we would have less amount of scams on the block.