Welcome to my topic,
Today, I would like to present you all the first step you should apply if you want to make a quick investigation on Proof-of-Work or Proof-of-Stake projects are scam ones or not.
There are so many indicators you can use, but in the topic, I present you the first prioritized indicator (in my opinion), premined coin figure.
Which ever types of project (PoW or PoS/ MN) you have interests, let's visit their explorer, and type 1, then enter.
Like this one:
If you found that there are premined coins with the search result on explorer on block #1, but the coin specifications have not mentioned anything about those premined coins.
It's time to fastly jump into conclusion that it is a highly potential scam project.
You should re-check both coin specifications on project's website and ANN topic to see that they made mistakes with content presentation or not.
However, I don't think you can find un-identical contents on website and ANN topic if developers have intention to scam investors.
For example, let's visit my first scam accusation.
[Accusation] Another scam PoS/ MN project, Erotica.
To conclude, if you find that projects have hidden premined coins, you should stop searching more about them, stop thinking of invest into them.
Such projects are highly potential scam projects!
In my opinion, only check hidden premined coins is enough for scam accusation.
However, if you want to move further, let's observe movements of those premined coins.
If developers don't mention anything about those movements and its purposes, you have another plus point to the conclusion that it is a scam project.
Recommended topics:1)
🌍[Guide] Prevent scam!!! Some useful tools for find scam / fake ICO team 🌍2)
[GUIDES] on Bitcointalk. Index thread (until there is a dedicated subforum?)