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erikoy (OP)
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March 20, 2019, 10:19:10 AM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
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Red-Apple
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March 20, 2019, 10:30:59 AM |
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I somehow get to a point where low liquidity token value is because of huge volume supply.
have you ever heard the term "supply and demand", there is a "and demand" part to that which you are missing here. these tokens have low value and continue to drop over time because there is no demand for them. so even if their supply were low they would still drop and end up having no value. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
it depends on why those tokens were reserved, they usually do that because they initially don't want a large number of coins in circulation so that the price may rise higher in the initial pump of that useless token. then when the pumps are near the end and they make sure there is no way they can pump it anymore they dump the reserved coins to get the most amount of profit out before abandoning the project. Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
no there is none. and the market is not regulated and in most countries around the world ICOs are illegal. so if you go to the law and complain about them they can arrest you for participating in them! |
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aioc
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March 20, 2019, 10:58:45 AM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
Nope there is none yet, you can only post a thread in the scam section if you feel something is not right in the project, but a token that is not transparent in how they handle their project is not good to trust your money, they should be transparent and can answer questions about their integrity. |
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ajqjjj
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March 20, 2019, 11:28:29 AM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
Nope there is none yet, you can only post a thread in the scam section if you feel something is not right in the project, but a token that is not transparent in how they handle their project is not good to trust your money, they should be transparent and can answer questions about their integrity. I think they do not know the exact details about project because they said casually so it is not a valid thread on scam section. My suggestion is do not blame others effort if you feel scam just avoid these things. But you may confident about scam projects you must report to scam section. |
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icalical
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March 20, 2019, 12:18:53 PM |
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There are several reasons why the developer chooses to have reserved for their token, and for me, most of them are acceptable and make sense. The most common one is to limit the initiate circulating supply, most of the early investors are only looking for quick profit and they will sell their coin immediately after the distribution, if the developer does not limit the initiate circulating supply, the price will just fall. Even when it is limited by developer most of the time it still falling. And the second reasons is to because the project needs further funding and development, the fund raised in the ICO are limited and after several years it will dry. So, the developer need fund resources and it is good if they reserve their coin because it means they believe their project will be successful and their token will have actual value.
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coin-investor
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March 20, 2019, 01:32:52 PM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
I'm trying to understand your post and this is only my opinion, the team can reserve supply for future sales this is normal for any project and some has done this, is it subject for abuse, that's possible but as long as they can bring a good platform that the community can use it is ok in my opinion I have seen projects that are honest in their crowdfunding, but run away after the sales. |
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binhvo1505
Member
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Activity: 728
Merit: 11
https://streamies.io/
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March 20, 2019, 01:50:14 PM |
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you mean is the manager don't keep their promise to preserve tokens? I think that will not happen because they will make smart contracts with any platform they use.
I think everything is fine here and there is no problem.
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VanDeinsberg12
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March 20, 2019, 02:00:29 PM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
If that was not even registered in the regulators or placed in the country that already created regulation for this kind of crap thing and then you must do a lot of research before try to invest in anything. that's why DYOR is a mandatory for everyone. |
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bittraffic
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March 20, 2019, 02:06:56 PM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
If that was not even registered in the regulators or placed in the country that already created regulation for this kind of crap thing and then you must do a lot of research before try to invest in anything. that's why DYOR is a mandatory for everyone. It always end up with the DYOR to save yourself. Not even the SEC can save us from it besides its difficult to prove accusations unless the team uses their known token addresses. Its something to laugh still since we have been pushing away regulators but now fraud is happening we now are trying to ask if they can handle such situation. |
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moynul2050
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March 20, 2019, 02:30:13 PM |
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If that is possible it would be very good if there was an organization that could regulate and provide legal rules for violations in the crypto system, in fact I did not know clearly and deeply about the legal handling of violations of the current crypto system.
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omone1
Member
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Activity: 843
Merit: 52
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March 20, 2019, 03:11:42 PM |
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This actually is a decentralized system, People are generally free to hold tokens and sell at anytime, which defines a free market. The fact that a coin has a huge supply does not really mean it will it will badly dump and lead to low liquidity. If a project is having a good team and the team are keeping up to the project road map, while the project keeps fulfilling it purpose, investors will naturally be attracted to such project. On the other hand, no good team will want to see their project becomes unattractive to investors. I don't think we need to have a regulating body on when team are to sell their holdings.
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beehimneff
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Activity: 574
Merit: 10
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March 20, 2019, 03:23:30 PM |
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I think at the moment there are no governing bodies in the cryptocurrency world. This has both advantages and disadvantages. And here are just various manipulations of ICO projects in order to earn dishonestly - one of the disadvantages of complete freedom in the cryptocurrency market.
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Viceroy
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March 20, 2019, 03:38:25 PM |
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You have reacted too seriously. I agree with you in many ways, but I doubt that he will be arrested for participating in bounty campaigns.
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StarofBTC
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March 21, 2019, 07:53:33 PM |
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This sounds like corruption of course because it is the misuse of power and public accounts and money.
But, you cannot do anything about that unfortunately. You have, to be very honest, nowhere to go and complain about it.
Still, since the market force which is called demand is a driving force in either skyrocketing a project or kicking it out of the market is very strong, such projects soon shut down because they loose their market for their malfunction.
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Ucy
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March 22, 2019, 02:44:55 PM |
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It would be great to have such governing body to be honest. I think some people have made similar proposals but nothing has been done yet. I guess one of the reason for the lukewarm attitude is lack of incentive to govern. Who would want to put too much time and effort into stuff like this without getting rewarded? Will you refer people to the governing site if ever it get started? . And how do you prevent such governing body from abuse and corruption.
I think it is best to have the governing body on blockchain for the purpose of transparency and decentralization.
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xianbits
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March 22, 2019, 02:58:52 PM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
A vigilant supporter will know wether the team has transferred their reserved tokens to an exchange, ready for dumping. I don't know how but the community have those eyes that see things like this and that could be a good sign when to dump also along with the team. Anyway, I really don't like the idea of having so much reserved tokens since it is prone to being misused. |
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enhu
Legendary
Offline
Activity: 2492
Merit: 1018
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March 22, 2019, 03:47:38 PM |
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I somehow get to a point where low liquidity token value is because of huge volume supply. Now the problem is that they only had declared few circulating supply and that other tokens are reserved. The reserved tokens are subject for abuses like the team being greedy and use it in the future sales or private sale to which the team could earn on it without letting the community inform with the sales. This is a kind of corruption right?
Is their any governing bodies that will accept reports for abuses in cryptocurrency system especially those who team handling ICO projects or any crowdfunding activities?
A vigilant supporter will know wether the team has transferred their reserved tokens to an exchange, ready for dumping. I don't know how but the community have those eyes that see things like this and that could be a good sign when to dump also along with the team. Anyway, I really don't like the idea of having so much reserved tokens since it is prone to being misused. So there is just no one to report to but also to the community that supports the project. The community seem doesn't have the power to do anything, so helpless still when they are in the verge of getting scammed. If for instance the team provided their wallet address, they'd be that bold to withdraw tokens in that address of course they'd be using another with huge amount of tokens too which would mean harder to prove its their wallet. |
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neonshium
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March 31, 2019, 08:43:30 PM |
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Government bodies of so many countries haven't bye the idea of crypto and might not be ready to set up a body for crypto scam carried out because crypto as we all know is a very big threat to central bank and might make government bodies lose their control if they become accepted all around the world, so they warn people to stay away from investing in crypto, but it's not turning out well for them, because people are tired of being told what to do.
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CoinsOrDie
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March 31, 2019, 08:52:16 PM |
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The abuses are numerous and demarkets the crypto industry. In as much as cryptocurrency is decentralized and Unregulated, I think there should be a form of body installed to unanimously oversee and sanctify the industry since most participants are not very tech-savvy
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yesyes18
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Activity: 546
Merit: 12
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May 30, 2019, 09:39:31 PM |
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Well,.this was a huge backlog in the space especially pertaining to ICO utility tokens. Ideally, the tokens were assumed to be the properties of the project managers and developers and hence they did what they wanted until the STOs came imto place. Anyways they couldn't provide the much security we wanted them to. For governing bodies, yeah they'd be necessary but the issue is who is going to govern who?
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