Reducing scam

[Mihaylovic]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

In my opinion, the best feature of blockchain based economies and this crypto market is it allows people to stay anonymous. That is why this ecosystem is really very open to any kind of scams and frauds. We should be aware of the risks of this ecosytem and try to protect ourselves individually. there is no any regulation that can protect people not to be scammed.

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[harbin55]

There are some laws and regulations  that is implemented to protect the security of the investors from fraudulent scams. But for me the ICOS and other community should raise a group o organization which helps and strengthen tha laws and regulations implement; since internet is a very wide subject which cannot be easily regulated by the small once.

[clarkgeneral86]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

It's too difficult for the entire community to eliminate fraudulent ICOS projects. Because very similar projects even Bounty hunters are tricked into wasting time on projects. There is KYC verification for ICOS projects and developers.

[No One]

Yes it is high time to discourage and eliminate scammers from the market. They are scammers who are damaging the glory of cryptocurrency, thus distracting investors or even institutional investors. We all should unite against this frauds. Crypto experts and rating agencies should also stop giving good rate to fake projects. Likewise, regulations should also take in place. 

[levvv]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

IEO is the solution for scam ICO. With IEO, investors can participate in the token sale with ease.
The exchange who hold the IEO has doing research and due diligence abut the project before IEO start.

[tenakha]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

IEO is the solution for scam ICO. With IEO, investors can participate in the token sale with ease.
The exchange who hold the IEO has doing research and due diligence abut the project before IEO start.

Did you take a look at IEOs on small exchanges? IEO is not any major development, those who are successful are inspired by Binance. If all sales will be in Binance I agree with you, but the majority only look at their earnings and the rest is none of their business. Probably some regulations made by big powers can protect us.

[olamidey]

Agreed, a regulatory framework is necessary to bring sanity to ICO and blockchain. The issues will be does the regulatory body have jurisdiction over all crypto projects or those domiciled in some particular countries. This for me is the major issue. Some projects claim UAE and on telegram, claim Estonia. So which is which . How do we make them stick to their words not just some rehearsed project without product

[thesmallgod]

Its hard to believe but if things are not regulated scam will continue to rock crypto project. Having ones a ponzi scheme investor, I can tell you vividly that a lot of admin behind many hyip are now entering ICO too. Creating website with intention of scamming people.

[$Andreyka$]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

I think that only self-cleaning of the market will help here. As you can see, already very few projects collect at least some funds. At the same time, the technology of the IEO started to develop, in which the exchange is responsible for the quality of projects with its reputation ... Perhaps this is the solution to the problem. It also proves that in most spheres regulators are not needed, everything can work by itself.

[MakeMoneyBtc]

Yes it is high time to discourage and eliminate scammers from the market. They are scammers who are damaging the glory of cryptocurrency, thus distracting investors or even institutional investors. We all should unite against this frauds. Crypto experts and rating agencies should also stop giving good rate to fake projects. Likewise, regulations should also take in place. 

Unfortunately there are way to many scammers and we surely cannot eliminate all of them from the market. But what we should try is at least reduce the number of them so that the others will get discouraged and disappear. Scammers are everywhere and they will always exist, you eliminate one and then another one appears.

[letyouearn]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

KYC verification reduces scams risk a little bit. Advisors responsibility? How do you imagine this?
Advisors are just those guys that help the project with... their advice, lol They don't care much about the results

[FelippeHeinz]

The solution is self-regulation by the community, no state regulation, this goes against the purpose of this technology.

[benjamin11]

You are right that more and more ICOs everyday are becoming fraud and scam. We cannot eliminate those kind of ICOs in crypto but there ways to minimize them. First is we have to regulate it. There should be a governing body that will check all the information submitted by the developer regarding their ICO. It should be clear and transparent. Also, as an investor, try to invest in an ICO with already existing working product because it has more potential to succeed.

[Kelvinid]

Agreed, a regulatory framework is necessary to bring sanity to ICO and blockchain. The issues will be does the regulatory body have jurisdiction over all crypto projects or those domiciled in some particular countries. This for me is the major issue. Some projects claim UAE and on telegram, claim Estonia. So which is which . How do we make them stick to their words not just some rehearsed project without product

Regulation could be that big help but it is not enough to stop them. It is our participation and awareness who could finally bash them out and not letting them spread. They have that very attractive rewards for promoters which could catch attention for investors and for bounty hunters. They'll have that strategies to catch their victims, that is why we should spend to research and find out what is behind this project before investing.

[prayogi]

Yes it is high time to discourage and eliminate scammers from the market. They are scammers who are damaging the glory of cryptocurrency, thus distracting investors or even institutional investors. We all should unite against this frauds. Crypto experts and rating agencies should also stop giving good rate to fake projects. Likewise, regulations should also take in place. 

Unfortunately there are way to many scammers and we surely cannot eliminate all of them from the market. But what we should try is at least reduce the number of them so that the others will get discouraged and disappear. Scammers are everywhere and they will always exist, you eliminate one and then another one appears.

Scammers do have many ways to enter the market and commit fraud, every day a scam project appears that tries to trick investors,
if this is allowed then this will be detrimental to investors, regulation seems to be needed to reduce the project scam

[bitsurfer2014]

Reducing scam is a daunting task but not impossible and it should be ideally spearheaded by the cryptocommunity. Yes, we as crypto enthusiasts should do our best in weeding out scam projects by doing research on that particular project, ask relevant questions to team members including the technical aspects and every details of it as possible, observe team's responses and judge whether they are competent enough or just mere cons. Ultimately, red flags and other negative signs will come out if it turned out to be a scam project and we should act accordingly based on our perception of that project.

[giletto]

Kind time of the day, with every day in ICO we meet more and more fraud. It is clear that no one forces us to invest in these projects. But the idea of ​​a cryptocurrency does not imply any regulatory department. What do you think that could help in solving this problem? I just see only that the advisors were responsible, or they took a pledge from the projects they are entering.

Several months down the line and IEOs have solved the fraud issues, however investors still loose money at the exchange after buying from the IEO successful participants and I wonder how we can curtail this very problem to barest minimum

[Sartrute]

I think that ingda is very difficult to determine whether the project is fraud or not. Without the help of regulators, I think it will be very difficult to defeat fraud in the world of cryptocurrency.

[harbin55]

Reducing scam is very hard to achieve but if everyone of reports all suspicious or fraudulent activities related to this we can lessen the numbers of scam. It is great since we can assure ourselves that our money are free from this type of threat in cryptocurrency.

[DeathProxy]

I think its time that ico needs to be regulated.  The rate of ico scam these days its getting out of hand. With a good regulatory body that will monitor and control the activities of ico so as to minimize the rate of scam