If an ICO team is anonymous, is it a scam?

[Strongkored]

One of the important things that must be considered when you want to invest in ICO is the validity of information, how we can entrust our money to projects whose team don't want to be published, don't ever invest in ICO whose information is unclear.

[Lagduf]

One of the important things that must be considered when you want to invest in ICO is the validity of information, how we can entrust our money to projects whose team don't want to be published, don't ever invest in ICO whose information is unclear.

Definitely, those people aren't gonna earn trust from the people while they themselves can't even trust the people so why waste time and money into a team that even very doubtful to show their face while that's the most important thing to know who's running the ICO because it doesnt matter how good the idea is if the team is just don't want to show their true identity no one is gonna trust them.

[joybella]

It's true cryptocurrency is all about decentralization, a project that needs public support to power or kick start their business has to show a face and history of themselves. Anonymity doesn't apply to team members such could be scam

[kidbounty]

yes maybe satoshi remains anonymous, but when the bitcoin was just released he didn't sell bitcoin. ICO is an event for Startup seeking funding from selling their tokens.

so like companies in general they must have complete information about who, where, and what their goals are. if all of that is not perfectly clear. naturally if some people consider anonymity in ico is a fraud.

[Mr.grin]

It's true cryptocurrency is all about decentralization, a project that needs public support to power or kick start their business has to show a face and history of themselves. Anonymity doesn't apply to team members such could be scam

it is not a scam, but it makes people have less trust in the ICO like that sometimes the team also strengthens the trust of an ICO so that it can run according to what they prepared on its roadmap.

[Nivia1st]

yes maybe satoshi remains anonymous, but when the bitcoin was just released he didn't sell bitcoin. ICO is an event for Startup seeking funding from selling their tokens.

so like companies in general they must have complete information about who, where, and what their goals are. if all of that is not perfectly clear. naturally if some people consider anonymity in ico is a fraud.

yes I think I am like you, the ico team should not be anonymous because it can affect investor confidence

[akirasendo17]

To be fair with others some are not , but for the people to trust a company it should be transparent on who is onboard the company,
they should also produce papers that they are legit, its not that we dont trust them, but how can you trust
something without any proper documents, and we dont know the people inside of it, ico should be transparent
because people trust a company with legit papers and company with faces not anonymous.

[nonbody]

When deciphering between legit and scam ICO's, one of the main things everyone says is "you have a look at the team and see if they're transparent."

The thing is, the whole ideology behind decentralization is that it gives the public control over the economy's trajectory, rather than centralized and specific entities.

I see the Virternity Project, for example (https://virternity.com/), which prefers anonymity, but I'm not sure it means it's a scam ICO.

from their FAQ:

"Why aren't you revealing who is in your team?"

"The members of our team are enthusiastic about the idea of creating the Virternity space for the whole world. We want to avoid “buy-outs” of our specialists and co-workers, and also avoid pressure on them.

Also, given the limited financing at the initial stage, we are using anonymity as a shield for our technological secrets—the specifics of our current and future developments.

Many members of our team have serious jobs in major firms and do not want to advertise their participation in a non-commercial project, in order to avoid conflicts of interest.

In the future, once these factors are less of an issue, we plan to publicly name the founders and key personnel."


Satoshi remains anonymous..

Thoughts?

If the team of an ICO project is anonymous and invisible, please don't expect anything from him. It is very likely that it is a scam.

[fuer44]

not necessarily, but there is a 70% chance of scam, so it's better not to invest there or participate.

[el_lobo]

An ico without a public team will certainly be less trusting than a ico with a public team.
I myself would not trust such a project, but i am also no expert on it.

[Bitknick]

I think such a project is best avoided, because in this case the risk of losing your investment increases!

[universal3ee]

When deciphering between legit and scam ICO's, one of the main things everyone says is "you have a look at the team and see if they're transparent."

The thing is, the whole ideology behind decentralization is that it gives the public control over the economy's trajectory, rather than centralized and specific entities.

I see the Virternity Project, for example (https://virternity.com/), which prefers anonymity, but I'm not sure it means it's a scam ICO.

from their FAQ:

"Why aren't you revealing who is in your team?"

"The members of our team are enthusiastic about the idea of creating the Virternity space for the whole world. We want to avoid “buy-outs” of our specialists and co-workers, and also avoid pressure on them.

Also, given the limited financing at the initial stage, we are using anonymity as a shield for our technological secrets—the specifics of our current and future developments.

Many members of our team have serious jobs in major firms and do not want to advertise their participation in a non-commercial project, in order to avoid conflicts of interest.

In the future, once these factors are less of an issue, we plan to publicly name the founders and key personnel."


Satoshi remains anonymous..

Thoughts?

I will not 100% label this as a scam ICO but i will increase the scam probability rate of this ICO if the ICO is legit why will it have an anonymous team to handle all the stuffs. Should ICO be tapping on famous and competent team to give investors more confidence in their project?

[I Like Bitcoin]

If ICO does not disclose its team, personally this causes me a lot of suspicion. As there are a lot of scammers in this market, there is no reason to trust this, or similar, projects.

[Betwrong]

~
I see the Virternity Project, for example (link removed), which prefers anonymity, but I'm not sure it means it's a scam ICO.
~

If an ICO team is anonymous it is a red flag no one should ignore. But the Virternity Project has more than that. They state on their official site that the main goal of the project is "Immortality of human identity and halting the race for resources (human immortality and saving Planet Earth)". And "saving Planet Earth", it's as if "immortality" wasn't enough! Like seriously man, how can you trust a project like this?

And there's even more. When I tried to research about it, Google showed me that there was a topic on reddit, "What exactly is Virternity Project about?". And guess what?

r/virternity has been banned from Reddit

^^^This is another huge red flag.

Satoshi remains anonymous..

Thoughts?

Was Satoshi collecting money for his project? I hope this answers your question.

[lionheart78]

I can recommend to skip ICO with the anonymous team because you can loose your invested money. Don't risk your money if you're not sure about the project. Satoshi didn't raise money!

100% agree on this.  The different between satoshi and that  anon dev team is that, satoshi does not ask for money nor create and ICO to fund Bitcoin.  It is the right of the investor to know the people behind the project they wanted to invest in.  Their credentials and skills.  The answer is just an excuse to hide themselves if the project fail because they are not  confident enough about their skill to fulfill the goal.  That is what I am thinking. 

[mr.robot8]

it is not said that if the team of an ico is anonymous this is necessarily scam but must use so much caution and perhaps prefer the ico where you can see the information on the team and their preparation (technical skill, development, etc)

[Crypto Girl]

While even a team reveal their identity they can still be a scam. If they're really a scammer of course they will do everything just to look a legit one so people won't doubt the team. What we should always be doing is to do our own research and don't be easily get caught by clever words. Better yet don't trust anyone.

[insidertradingeverywhere]

Could you list here some ICOs which has anonymous team?
I would like to evaluate some of them. it is interesting experience for me.

[SummerBliss]

A lot is dependent upon the identity of the team behind the project. Me personally, would stay away from a project with an anonymous team unless they justify the anonymity with some viable product already in existence. Knowing the team behind the product where you are investing makes all the difference.

[defoman]

Most likely, if the team is hiding their identities, then it's scammers. Usually after the fundraiser, you'll never hear from these people again. So do not risk your money and avoid such projects.