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Author Topic: We should Unit against Scam Project As a Crypto Community??  (Read 783 times)
niisarearning
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May 15, 2019, 06:50:02 AM
 #1

After lots of frustration , lots of loss , almost loosing hope now market is recovering . As a crypto community well wisher I am requesting Bitcointalk community as well as other crypto community to fight against Scam projects . So that people should not loose belief on Crypto .

Why i am saying this because ?? . We have seen lots of Scam projects ICO's in past in that lots of investors hard earned money gone . It was became exactly like .COM bubble lots of investors lost their money . These scammers took away this money from crypto space .

1) Now as a community we should not encourage ICO'S for time being . As if now there is enough projects funded in crypto space for next 100 years
2) We need investors who believe in new era of currency . Also needs to attract NEW investors . For that we have to keep Crypto Space Clean .
3) Crypto projects are necessary but we are having enough project for a time being . Community  has to understand this . Find a good project already in a place . Support that kind of projects . Which is giving real value to crypto space . Instead of investing in Scam project and getting into trap .

Finally we should keep away our Greedy mentality for sometime we should work together for long term vision of crypto currency .

Note : I know already some of community members really working hard to fight against Scam projects . I have huge respect for them . Now we should also give contribution .
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May 15, 2019, 07:04:44 AM
 #2

The topic is not bitcoin related and focuses on ICO. But, just to answer it is really difficult  to stop developers/people from .aking scam projects. What we can do is to educate our selves and not be lazy and greedy when investing. A lot of investors are blinded by the potential money they could earn from ICO. Of people will just give time doing their research before investing, scam projects will get less support from the crypto community it self, thus giving a higher chance to legitimate project to gain more funds. Maybe this way, if people will just deligently review projects and stop investing and supporting scam ICOs the chance of people getting scammed thru this will lessen.

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May 15, 2019, 07:40:05 AM
 #3

The topic is not bitcoin related and focuses on ICO. But, just to answer it is really difficult  to stop developers/people from .aking scam projects. What we can do is to educate our selves and not be lazy and greedy when investing. A lot of investors are blinded by the potential money they could earn from ICO. Of people will just give time doing their research before investing, scam projects will get less support from the crypto community it self, thus giving a higher chance to legitimate project to gain more funds. Maybe this way, if people will just deligently review projects and stop investing and supporting scam ICOs the chance of people getting scammed thru this will lessen.
Yes i know it is bitcoin discusiion . I wanted to reach this message to mass . Most of the people in community definitely comes to bitcoin discussion atleast once . It is my thought i wanted to convey with my dearest community.
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May 15, 2019, 07:50:08 AM
 #4

Good initiative op. Scams will always happen no matter what, but we can reduce these scams to a large extent by safeguarding our assets in the best ways possible and not investing in useless projects without doing any sort of proper research.

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May 15, 2019, 09:19:33 AM
 #5

Unity you say? In the first place the ones who are fueling those shitty ICOs are people who want more money, they so greedy that it blinded them to the truth that there is no need to fund new ICO projects. Why couldn't they just focus on buying Bitcoin all alone and nothing more. If we say we are already too late to buy at low price then tell me something about the people who've bought at nearly 20k USD. There are only few projects now are legit and we can't barely recognize one. Buy bitcoin and hold it, it's that simple.
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May 15, 2019, 09:27:18 AM
 #6

Team work is what the cryptocurrency community need to minimize scams but despite that scam will always be there and just like it is in the centralized financial system but it can only be reduced, the level of scams is high in the cryptocurrency market due to it decentralized nature and if there are forms of regulations it will help but that can not be achieve now.
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May 15, 2019, 09:35:13 AM
 #7

yes many of investors lost hard earned money in scam projects , many projects with fancy website , whitepaper , and lots of lie

1)i would like to see is self moderated topics opptions should be delelted
2) dont invest until there is product dont belive in same old white paper , roadmap that is only for scamming 
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May 15, 2019, 09:58:08 AM
 #8

The best thing that we can do against scam Ico is to be smart enough to know about every project's purpose.
We should be keen and observant upon joining an Ico.
Unity could help but awareness should begin within ourselves.
I know your intention but I hope that everyone could have the same thing in mind.
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May 15, 2019, 12:44:33 PM
 #9

There are more users who keep themselves focused on identifying the scam projects and reporting to the community. There were threads where the list of identified scam projects were listed. However we get united it is hard to get rid of scams, somewhere through some source we get caught into the traps.

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May 15, 2019, 01:07:56 PM
 #10

It is hard to know when will the ICO is a scam despite of the trust rating from every different ICO rating sites. As for the least scam ICOs, it should have a rating on at least 3 ICO rating sites. As I know they pay a specific amount for the ICO to be posted and rated. It shows a little sincerity that the ICO is willing to invest an amount for their ICO projects, but this is only one factor for its legitimacy. Since sometimes the ICO become scam on the during between the end, so it is really hard for people to identify it regardless on the finding the team legit (yes sometimes the team is legit and even had KYC approved) but once they become greed on the final moments of the ICO they could do on the money they collected anytime. I can't explain more factors but as for the better part, better choose the ICO participated wisely as possible since sometimes the ICO is good-looking at the start but in the end they have a shady schemes that could make the investors suffer.
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May 15, 2019, 01:13:50 PM
 #11

I believe each people should inform themselves before investing in anything be it crypto or traditional investment venues. If you are investing blindly you open yourself to unnecessary risks that you can avoid by doing some own research.
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May 15, 2019, 01:21:34 PM
 #12

Surely we should get unite against scam projects rather I suggest to have some forum like forexpeacearmy in forex where any crypto user can log his complaint and if any ICO or any project declared defaulter it should be published publicly on that forum. I invested money in one of famous project (not revealing name as of now)related to health app whose community is around 80K. First of all they did not credit tokens against my amount into my wallet and then after a long followup they credited the tokens purchased but again all my tokens disappeared and when I asked question on their telegram channel they just blocked me, I am trying to contact their admin but he is not answering. So such cases happens everywhere, we should have some common platform where we can raise our complaint.

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May 15, 2019, 03:14:54 PM
 #13

And what does this have to do with Bitcoin exactly? Altcoin discussion would have been a better fit for this topic, since you mostly talk about ICOs.
No, we don't need to 'unite' against scam projects. I mean, how would you even do that?  You can't make the majority of people do the same thing in cases like this.

Just focus on yourself, stop investing in obvious scam projects, that's already enough IMO.

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May 15, 2019, 03:32:06 PM
 #14

I agree that we should look out for scam and inform others about it. I think we are kind of already united in it, though. Bitcointalk has a trust system and a special board that is dedicated to discussions about scam and reputation.
ICOs are in the past already, IMO. People are not as hyped about them anymore. However, I think there is enough scepticism about such projects on the forum already, and it would be wrong to, say, condemn every ICO prior to having suspicions about a specific project.

And yeah, you probably should move this topic to Altcoin discussion. Reaching a wider audience might be not a good enough excuse to post it here.

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May 15, 2019, 03:50:47 PM
 #15


1) Now as a community we should not encourage ICO'S for time being . As if now there is enough projects funded in crypto space for next 100 years
First of all our community is already not encouraging shady ICOs. Promoting such kind of ICOs is a straight way to get tagged on this forum.


2) We need investors who believe in new era of currency . Also needs to attract NEW investors . For that we have to keep Crypto Space Clean .
A good investor is investing his money not because he believes in something but because he would get his money back with some interest. Everyone who is investing in something just because he believes in it is just a retard.

3) Crypto projects are necessary but we are having enough project for a time being . Community  has to understand this . Find a good project already in a place . Support that kind of projects . Which is giving real value to crypto space . Instead of investing in Scam project and getting into trap .
And this is why there was no big ICOs for a pretty long time and coins of already existing coins are in deep shit. People are not going to invest in crypto related projects as much as they did before.

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May 15, 2019, 04:56:34 PM
 #16

everything is good and dandy as long as we are only talking and there is no "big profit" to be made by the investors. but as soon as there is some hype and pump you can see everyone (including all those who agree here) will rush to join that pump and basically enable scammers to continue their scams!
why do you think ICOs became big in first place? why does the pump and dumps remain popular to this day?....
all of these are because people care more about making money in the market than they care about actually good projects!

There is a FOMO brewing...
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May 15, 2019, 05:03:13 PM
 #17

Scam projects are recognized as a scam only after they scam their users.
How can you tell which project is scam and which one is legit from the beginning.
Yeah,I know that ICOs are shit and we should not buy ICO tokens,but you can't tell people what to do with their own money.




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May 15, 2019, 05:14:24 PM
 #18

We can start by exposing them in their own ANN thread, But this is not an easy feat since it will require time and effort in researching every single project that being posted every hour in the Altcoin section alone. ICO ethics is doing a good job in exposing scammers in the ICO and Masternode industry.


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Anonylz
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Fusotao


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May 15, 2019, 07:35:48 PM
 #19

I particularly like this topic, to be honest, i think some how bitcointalk is gradually turning to be the dumping ground for fake and scam projects, the fighting of scam project should start from the moment those project are about to create an Ann here in forum, there should be some certain criteria set by forum admins which will act as a process of vetting this project owners before they can post an Ann,

Because there are no such criteria it is very easy for scam project to post Ann and lure the innocent to fall victims, the forum is very vulnerable in this aspect, and it is very necessary for something to be done to curtail inflow of scam project in the forum, here is among the biggest if not the biggest btc community around, so there is need for proper redress.

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Cats on Mars


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May 15, 2019, 09:58:49 PM
 #20

1) Now as a community we should not encourage ICO'S for time being . As if now there is enough projects funded in crypto space for next 100 years
The cryptocurrency market is too profitable. As long as people are making money, others will join and try to do the same thing, that's just how this market works.

2) We need investors who believe in new era of currency . Also needs to attract NEW investors . For that we have to keep Crypto Space Clean.
The cryptosphere has been a complete disaster filled with countless garbage/scam coins for a very long time but that hasn't stopped new investors from jumping into the cryptobandwagon. Sure, a "cleaner" market will attract more people, but as of now, the crypto market isn't actually discouraging people from joining in, otherwise, we wouldn't be seeing all these financial institutions (Fidelity, Bakkt, TD Ameritrade, etc) getting ready to enter the cryptosphere.

3) Crypto projects are necessary but we are having enough project for a time being . Community  has to understand this . Find a good project already in a place . Support that kind of projects . Which is giving real value to crypto space . Instead of investing in Scam project and getting into trap .
ICOs and new cryptos will stop popping up when people realize there's no money to be made in the crypto market...When's that gonna happen? Probably never, so....

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