We should Unit against Scam Project As a Crypto Community??

[Acyclic_DAWG]

How about building an algorithm that can identify scam ICO's.

What defines a SCAM ICO?

Consensus Conditions

Weighted Conditions (How would you weight the following
Negative being the worse case, positive being the best case).

Technical components:
Technical details and or theory  (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Technical team backgound        (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Yellow paper                            (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
White paper                             (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Uniqueness:                             (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Adaptabiity:                             (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Sustianablility                          (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Help desk                                (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Dev support                             (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Project Roadmap                      (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Project deliverables                  (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)


Accountability components[/u]
Legal leadership / owners          (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Governance and compliance       (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Board of directors                      (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Team Visability                          (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Team Accessability                     (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Financial transparency                (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Live speakers                             (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)
Marketing plan                           (-5. -4, -3, -2, -1,0, 1, 2, 3, 4, 5)


The premise being if a weighted average is in the negative, the conclusion is that a high probability of a scam, if the average medium is plus 3, the risk is reduced and likely hood that this is a legitimate project that is rating high. If the average medium falls between 0-2 a warning that more research is needed in order to conclude.  

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[shoreno]

It's damn difficult to dictate a scam project because they do come in the same format

its difficult but its possible . cant you see that there are still scam attempts that are being busted ? if the investigator is dedicated and smart he can always trace and expose the scammer whenever hole they hide  .

In my opinion, there are a lot of scammers not only in the ico market,

scammers are everywhere  . before when there is no ico and cryptos , scammer already existed but now that cryptos are booming , scammer are already shift into this space because there is alot of money in here and their earning potential is huge  .

overall , i agree on the op's idea but we also know that most of us are busy people  . i guess those that are working full time on the crypto space can do the job more accurately since they are more familliar about the faces , names and other factors  .

[Easteregg69]

Same fuckers that has been scamming for years. If they are not government then they are under government protection.

I would like to see them burn in hell!

[Finestream]

One way or the other, we or other people close to us have been affected by scam projects. All because we did not know the bull red flags or we were not very observant with the signs of showing it is a scam project. Let us all join together to help expose all scam projects in order to save people the heart breaks that come with scam projects.

It is hard to track those who do scamming because crypto transactions cannot be tracked easily. Maybe they are also a community but it could be better if we can control them than just avoiding that kind of people. I will support the community who against scammer and help each other to prevent their cause.

True.It would be hard for us to trace easily those scam projects from the legit ones but if we will unite as one to banned scam projects then maybe we can create a more successful and profitable crypto community.Investors will no longer leave crypto because they have more confidence already that their money will not be lose and will gain profits eventually.

[jdarren]

As much as we don't want scam projects to appear I think there are people who are going to build something they truly believe in. I don't necessarily think we need to ban against anything but instead educate people about why it could potentially be a scam project. There is so much misunderstanding happening about what is right and wrong

[thesmallgod]

In as much as I agree with some of your points, I do not think we can stop any new ICO project but what we can do is to work together as a community and make sure scam and irrelevant projects are prevented because it hots and damage the reputations of cryptocurrencies. Nearly everyday, news about crypto scam are reported. This can actually reduce when we start kicking against them right from this community. Also, remember it is not about ICO alone but also we should all discourage the use of exchange platforms that list scam tokens and offer IEO with major aim of making quick money. There are many exchange platforms out there that are more of crowfunding platforms than exchange platforms

[thesmallgod]

What am recently noticing now is that bounty project are now moving into IEO first before starting their project so as to attract many investors

Most of them know where they are going for IEO especially those ones that are in for profit. I will not mention names but we have started knowing exchange platform that is merely fundraising platforms. It is embarrassing that many of this exchange platform has made their listing fee of the project for IEO low in order to attract many of them and that is the reason why we have many scams project.

[XCANA]

I just don't ever invest in ICO's anymore and avoid any crypto without a creation cost. No more scams for me.

Do not ever invest in any crypto with no fundamental backing. That is a rule.

https://www.amsinger.org/fundamental-method

That's absolutely correct mate, back in 2017 i invested in some notable ICOs but at the end they frump up my investment, but rather than investing on ICOs, i rather trade with a reputable account on this forum becasue there are still much pretty good members with good heart for trading. Also, without fundamental backing on any crypto i will never invest in it. Possibly one can learn to trade.

[butcherme]

Yes it is a good idea but I think that it wouldn't really work well.
There is so many project and we couldn't know which one would be scam .
We also couldn't get the scammers because they could use fake information in crypto community.
Just think about getting someone who is innocent because their information has been used.

[kr105]

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 .

That’s true. Crypto market is full of every kind of projects already. Some of them useless, some of them will disappear and only a few of them will rise & shine. The best thing is to make right decisions before creating a portfolio. This market is full of advantages.

[naufals4]

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 .

yeah i agree with you we have to stop investing in ICO because the development of the ICO has been too much and so many that ended up being a SCAM project. if you still want to invest money for ICO, the money is invested in the IEO, therefore it is more secure.

[Eraldo Coil]

I think we should stop saying to people that we need to keep on doing research in order to avoid these scams. Yes, it is true that we can avoid those through research but we should be able to do more than that and that is doing something to verify that these people are legit and we have to make sure that they are not going to run away after their project fails.

[spacehopper]

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 .

Great idea.We can do something about that as above it will insure our future too.No more scams means great insurance for the bitcoin,ETH,ect. When you can give guarantee more more investors will come and invest.Because they know their money not wasting.So the crypto marketcap growing day by day.So that's mean New era for crypto as above.Bitcointalk is a great place do something like that.Salute you member who fight against these scam from beginning. Thank you for your great service.

[shimbark123]

I think we should stop saying to people that we need to keep on doing research in order to avoid these scams. Yes, it is true that we can avoid those through research but we should be able to do more than that and that is doing something to verify that these people are legit and we have to make sure that they are not going to run away after their project fails.

Why do you think we need to stop reminding someone to DYOR their way in crypto? It's like you are spoon feeding these type of people. ONLY YOU can save yourself in cryptocurrency scams. Not anybody. That's why DYOR is the best thing you should do. Next, ask somebody in altcoin discussion regarding this.

[Kewat]

I think that could be actual in 2017-2018, but now people don't participate in ICOs anymore..

[Successmaniac4]

I think we can contribute to eliminating scam projects by making others aware especially on this forum if we discover any scam project. We should also not make huge investments but invest only the amount of money we are ready to lose.

[DPrillio]

I think we can contribute to eliminating scam projects by making others aware especially on this forum if we discover any scam project. We should also not make huge investments but invest only the amount of money we are ready to lose.

There are many scam project in crypto market and the most affected with a lose is the investors and the bounty hunters and if this not to be stopped it will give a great bad impact on crypto market as more investors lost trust in crypto investment and hunters will slowly gone and not participate in campaign anymore, is there a way to control newly start project? If yes then who will be the most responsible to do that?

[kawetsriyanto]

I think that for now, there are several threads in this forum that inform us about the scams, it may include the projects that are considered as scams with several reasons and problems or proves. However, it may be only done after there are some investors entered on the projects. Of course, every investor has known this risk and it is very difficult to be ignored.

[libert19]

If there is money being paid, people will shill the project. Due diligence should be done by end user.

[fortunecrypto]

Developers  never stopped because there are people who continue to patronize this crowdfunding, some new ICO is just a copy of the existing project, and some projects are already in the market, they just envy on the amount of money these projects are making , so they create their own, take a look at the many exchanges coming from ICO this is one good example.