Reducing scam

[Hartmas]

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.

Regulating or introducing rules for different projects is a real step towards reducing fraud. But then the income tax will be introduced, which in principle will balance the losses.

[kawetsriyanto]

Stop supporting ICOs and that will solve the problems for the increase of scams in the market. ~snip~

I think it doesn't fix the problem and it is not the best way in solving a problem. Let's think another way that may break the problem but allows the system to run normally. I see no strict regulation on the process of a project registration on this forum. I mean every project that wants to make its ANN or Bounty must go through several identification stages, like KYC process. I think it can be a good way to minimize scam projects.

[inanilujimi]

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.

Actually this problem can be solved by only investing through the legit ICO listing platform. There are some exchanges listing ICO of other companies.
They already verified the company who want to holding ICO through their exchange. And investors won't do their research for long because the ICO being held there is already verified.

I agree with you.
this way the scams will decrease by themselves, which is my question, is this already there?

[kewlc3s]

Just strong regulations could help to prevent so many scams in ICO.

Before ICO, company must provide all documents. Most helpful solution will be deposit (For example 20% from ICO hardCap, like HardCap 20M - deposit 4M).
I understand it will be really hard, and many won´t be able to collect such an amount. But, it will protect investors somehow..

[Ariess]

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.

we agree, and there must be a role in each country to be a regulation that prevents the coming of ico scams, especially those that do not have concepts and products as their mainstay. of course, when this has a big impact, the market situation tends to be red.
we have discussed a lot about this but there is no meeting point that can be the best option.

[batang_bitcoin]

Advisors aren't the only people that are responsible for those ICO's but the devs itself.

Do your initiative that only support those ICOs that has a legit project and is being backed by a real company. This is just my standard although I'm not really into ICOs but if someone out there and is a fan of ICOs, change your standard and don't support those ICO scams.

[paulscathedral]

We need state regulation of all ICO projects. Each ICO will be an officially registered company with officially registered individuals who will be responsible for their company. I think that only such measures on the part of the state can somehow reduce the number of scams. Only this will help us. Only this will save us.

[TheClownSong]

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 the solution for this is depending on government regulation or our own research. Regulation from many country will prevent scam developer running their operation and they can be ensnared by the law

[ivaf]

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.

No matter how paradoxical it may be, but in this case only the introduction of strict regulatory measures in relation to the cryptocurrency turnover will help. And this is contrary to the spirit of freedom and anonymity of crypto. So, either regulation or rejection of ICO.

[CreamIce]

Though I never favor regulations in general, I believe there need to be some regulations for ICO frauds. The market is expanding exponentially and so are the chances of losing your investments to frauds and scams. I hope we can will be able to figure out something that explicitly affects only frauds and doesn't regulate the market in general.

[Cryptomilz]

I have read that regulations and laws are being worked out for icos and crypto in most of the countries especially Australia and Europe is actively working on the regulatory framework, after they implement their regulatory framework for crypto i think many more countries will follow.

This is really needed and I'm hoping it happens soon enough. With this, only genuine ICOs will make it to the market place and losses emanating from such investments will be minimal. So, I'm totally in support of regulations

[gefander]

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.

If you have a dissonant, just look at Whiterpaper because there all the same, and I think that you should not trust them.

Simply there is no lever, impact on them, I already wrote, is an open Scam. Here's a look at my post.
https://bitcointalk.org/index.php?topic=3545612.msg36336445#msg36336445

[Betwrong]

Scammers going to jail are the only way to fix fraud or scam. If you really think about it, no one is getting caught that is why scammers are abusing it. They will think that what they were doing is right and will keep on doing it. There should be a process where people who started an ICO will be verified first. Fraud will keep on happening if they don't do something about it.

This is not that simple. Many ICOs, if not most of them, do not have evil intentions from the beginning. Developers and managers of the project genuinely believe that the project will be successful during the first stages and when they fail, I think it would be too harsh to put them in jail for that. Investors have brains of their own and they should use them while choosing which ICO to invest in. Nevertheless, it doesn't mean that creators of intentionally fraudulent projects should not be punished. Yet, I would punish them with forbidding them to start the project, rather than with putting them in jail. And to do that we need a good operating regulatory system.

[passeroutpass]

Unfortunately, we will not be able to influence or radically change the situation. It is of course sad. We need to constantly analyze projects to eventually learn to identify the Scam.

[Rogkim1]

By creating a regulation for any project that opening an ICO to gain some funding can be a good way to prevent any scam project. It could be able to protect anyone from being scammed, and the potential of scam project will be minimum.

It is necessary to develop general rules for conducting ICO projects. Where would there be guarantees for all investors. This would be a great help to government regulation.

[Ararbermas]

Actually mostly strategy  that can avoid such issues is doing research.  Which is very useful especially if you don't have not enough information about the project and etc..  So that's why always bear in mind to make research to reduce scam and to assure your money is very safe.

[zeze18]

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.

No one can be blamed if we're get scammed by an ICO because the ICO itself is not forcing us to buy.
The best thing that we can do to reduce scam is jump deeper to the project before we invested in.

[extrajuu333]

i think they should regulate them and punish the scammer ICO-s, it would be a great example to follow

[starplaks]

In my opinion, the measures taken by the bounty hunters themselves and the caution of investors reduce the appearance of scam lately!

[ambisyon]

Actually, it's really hard to detect scam ICO's and I do accept that I had been a victim of fraud ICO's in my past participation. However, I just have to accept that it is really part of the cryptocurrency eco system where scam ICO's really exist and just need to continue looking for another opportunity that sooner or later I could be able to get a legitimate one. In my opinion, to be able to reduce scam ICO's,I do suggest that the forum itself should have the first hand to screen the ICO's posting in this forum and it would be much better to have a thorough and strict compliance such that only legit ICO's can manage to operate and can actively  make postings  in this forum.