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

[sleepless]

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?

As far as I know, white paper and other documents speak best about the project, not the team. So if the team is anonymous, and the documents are excellent, then I will be happy to do this ICO

But what is the meaning of anonymity? In the future, the team will still have to hold meetings with investors. And of course the most important thing is the documents and how the team performs its tasks.

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[yingfeng]

For me, yes. I never invest in a project in which I do not know the team. This is one of my main rules. At a minimum, when you learn a team, you can see if the team can create product.

[bonyaserg]

I think that now most often they come across bounty frauds and for this the whole community needs to fight this harmful parasite. So it really interferes with work and interferes with advertising really promising projects. And in order to avoid fraudsters and choose a full-fledged project, you need to create a centralized system for the ICO so that they have to go through verification before they submit their project. And after this procedure you can participate.

[megaplage]

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 am sure that in most cases this is true. But most likely it is done more for the safety of the team. I can not say that it is worth all projects with an anonymous team immediately called scam

[fvb]

Invest in a project with an anonymous team?  Definitely will not do that.  Some projects with an open team do not fulfill their obligations.

[Fedots83]

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 also agree with this statement - if the team of a specific project is anonymous, then the probability of fraud is too high. Personally, I am fully confident that we should abandon investment in such projects. After all, no one will hide team members, if the project is of real benefit to society and plans to achieve success.

[bitcoindusts]

..snipped

Satoshi remains anonymous..

Thoughts?

I also agree with this statement - if the team of a specific project is anonymous, then the probability of fraud is too high. Personally, I am fully confident that we should abandon investment in such projects. After all, no one will hide team members, if the project is of real benefit to society and plans to achieve success.

I agree, in order for us to at least lessen the chance of being scammed we should avoid the project that have anon dev.  I am not saying all but most of the scammer exploit the idea of decentralization and anonymous.  As for example a company that created a token or coins for a networking scheme and when asked if they have license to operate, they just reason out about being decentralized thus no need for license which is against the law.  Same goes with anon dev, they say Satoshi is anonymous but the question is, did satoshi asked for an ICO for Bitcoin? Of course no.

[borjois56]

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?

ico who does not show his team can be a fraud, if their identity is known, they will be caught, so they hide who they are, so be careful

[TrevorS]

For me, this is the first indicator that ICO can be fraudulent, given the situation with ICO, when there are so many scams around, every project knows that it must first be credible. So when I see that the ICO is anonymous, I warn the others that this is a potential scam.

[hacker1001101001]

Yes, exactly ICO with the anonymous team is not a good indication for everyone. This kind of all the projects is scams. Because the team doesn't need any kind of reason to hide their identity. So I strongly recommend to everyone, do not join the ICO with the anonymous team.

[mizamuneerashine]

Now, I prefer to invest in an ICO where the team is transparent in public, Satoshi  Nakamoto succeeded on  being an anonymous but  not all can be Satoshi  Nakamoto

[Galley]

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!

There is a rational grain in your thoughts. If a person does not ask you for anything in return, but simply offers something, then it is logical that he does not need to advertise his identity. There are a lot of examples of this when people donate for a good cause, without advertising their names. But if you are asking for a loan, then be so kind as to tell who you are and what you need money for. And so it hurts like a robbery from the main road, where you can also politely ask you to borrow a wallet.

[apitico]

If a team is anonymous, then whether or not to participate in the bounty of their companies or to invest in this is project? Why the team is anonymous, especially since one of the main ways to check the ICO for fraud is to check the team.

[deguzmanwacky]

Not necessarily but very suspicious and risky. Research and background checking is very fundamental when it comes to ICO's and you should be careful on where to put you money on. There is very high chance that it would scam you so be cautious and as much as possible, stay away from anonymous teams. There are so many people who just takes advantage of people who aren't studious enough to know if an ICO is a scam or not. Don't be like those people and educate some for them to be able to prevent getting scammed.

[Huntler1993]

It quiet interesting but anonymous team behind a project really raises a lot of questions and a red flag. There are so many scam projects of late making it difficult to trust anyone.Well i will not advise you to partake in such project but if you have an amount to risk you can give it a try.

[daporivera]

In this present time, an ICO with an anonymous team will be termed as scam as a result of too many scam project being launched every now and then. Although, the team behind bitcoin is not known and BTC has turned out to be great crypto currency.

[magicrypto]

Everything is individual and depends from situation, but if people who starting their ICO and want to raise money on it hiding their faces, it looks like they trying to avoid any responsibility. Make your own conclusions..

[ven7net]

Good question! But in pursuit of anonymity, we apparently confuse some concepts. It’s one thing when the service or product is already working and the people who use it are anonymous, it has its advantages, but it’s another thing when the project starts and the project administrators want money to be carried, and administrators are anonymous. This already evokes the honesty of these people. Suppose you came to such a project and made an investment, and after something went wrong and the project closed, how can you get your money back? Apparently neither, since you know nothing about those to whom you transferred money, in this case you made an investment. I believe that here it is necessary to distinguish between what anonymity is necessary for.

[automail]

Yes. I believe that will be a scam. There are times that even famously named ICO's ending up being a scam. What more if its a anonymous ICO. Also, those people can't be trusted as they can run away any time they can. Trust on someone famous who has a reputation to lose. Also, if you notice, regardless if its anonymous or not, majority of ICO's leads to scam because no one is getting caught or punished.

[felicita]

and ICO team should be as much transparent as it can.
be course they are searching investors for the tokens and how to get investors when you even dont know where they invest in.

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