Reality of tokens

[Nguyenthanh2391]

I will double check the links. thanks for your information. I really need tokens. The tokens are really helpful. 

[ven7net]

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

I do not see anything surprising. Each area has its own scammers, so why should they be here? Everything is obvious. Wherever there is an opportunity to deceive, fraudsters always appear. Another thing is to learn to find them and to reveal their bad deeds. This is the only way to protect investors and cryptocurrency users from fraud and scammers.

[superstrength]

I strongly object to such scams. find a better way to get rid of cryptocurrency credibility. that 10% commission could put those people in jail.

[electronicash]

i'm not sure if you can call it scam though but there are some of them that posted their ANN thread in the forum. one that i saw was tokenjar as well.

here are few that i found out. some of them are doing ICO. funny because i found no accusation about them.

https://bitcointalk.org/index.php?topic=5190187.0


https://bitcointalk.org/index.php?topic=5199251.0


https://bitcointalk.org/index.php?topic=5167146.0

[Ken_terrance]

Almost all tokens are scam in 2019 and they are very easy to build as well which makes them the best target for scammers, cheap websites are used by unwise scammers nowadays but smart scammers can fool a whole legion of people for long time, in crypto space no one is safe

[Nhor1011]

That is the reality of tokens,they are just created for nothing and no value. They just want to scam many people that believe their lies. Nowadays you are lucky enough if you can found a good and legitimate project that pay the effort and hard work of the people like in bounty campaign.

[Google+]

Almost all tokens are scam in 2019 and they are very easy to build as well which makes them the best target for scammers, cheap websites are used by unwise scammers nowadays but smart scammers can fool a whole legion of people for long time, in crypto space no one is safe

it's true that the project in 2019 doesn't have any good news anymore and there are many projects that I think can be said to be a failed project because many investors are traumatized because they are often exposed to scam ico and now I think many are trying to use other methods such as IEO that can provide lots of profit.

[AicecreaME]

Token market has become very similar to HYIP market where you can simply buy a php script and hire a designer make a website for you. It's even simpler for ICO market because you won't need any script, just wordpress hosting will do the trick.

 It's really sad that cheaters are targeting crypto market as well in big numbers. That's the main reason why ICO market has lost its credibility! People need to understand that tokenization of everything will only lead to big disaster!

And that was a fact,  they can even hired a person who can create a white paper for them thats why there are many plagriazed report here. Because the whitepaper belongs to other project and edit only few words to make it more legitimate .

Not was, but "is", scammers needs other scammers to earn easy money by creating such scheme, like what OP had mentioned, I was shocked to know that there is such way to create your own token to start your dirty little secret and if successfully launched, they are going to do the next step which is the tailormade promises like those politicians when election is coming.

This is so disappointing at some point, some legit ICOs are being affected because of scam ICOs.

[Ferris419]

Such a shocking reality it is. That's why most of the wise people don't like new ERC20 coins because of its all shit! Fiverr is the only marketplace where you can get such big things by spending some bucks. I found someone who writes a whitepaper only for 30 USD! If you look in new ICO projects you will see all of them are on ERC20 based coins because it's easy to scam people through these shit types of coins. This is why I suggest everyone to not buy ICO token.

[naikturun]

It's true that's why IEO is now more in demand than the ICO, because it reduces the risk of being hit by a scam, yes although no one guarantees the price will be stable when the list in the market.

[alrose]

So regarding the fact that what it takes to create a token for example an ERC 20, i ahve found a gig on Fiverr.
Check the link.
https://www.fiverr.com/wedowo/create-your-ico-website-and-erc20-token?context_referrer=search_gigs&source=top-bar&ref_ctx_id=34a69322-cdbf-40a4-98e6-b9f51a1be52f&pckg_id=1&pos=3&context_type=auto&funnel=657f18cb-30b9-4ede-a7f7-139b402768ed

Seller is creating an ICO website as well as the token for just 50$. So your basic invetsment is 50$, Now you just need to do marketing by just making a telegram group and launching a scam bounty scheme and give members greed to give 10% commissions. And you are ready to scam people.
People choose these scammers to scam them and thats all. Not saying that all of the tokens are of this type but most of them are of indeed.

The fact is that there are a lot of such projects. And in general, yes you are right, now fraudsters do not need a lot of money to deceive investors!

[lolgato1]

50USD plus good marketing and bounty campaign could bring you a nice profit, thats why we see thousands of ICOs everyday and people still are investing. But times when ICOs raised millions of USDs for nothing are gone.

[shoreno]

50USD plus good marketing and bounty campaign could bring you a nice profit, thats why we see thousands of ICOs everyday and people still are investing. But times when ICOs raised millions of USDs for nothing are gone.

50 usd ? holy macaroni thats too cheap  . i though the capital here is huge ( let say over 1k usd ) because they also need to market thier product and they need to hire someone or pay for some service to be able to make that happen but today , we already knew that ico are not that indemand  .

i think its not a good business anymore to create such ico/token  .  people are slowly switching to ieo and other investment scheme 's

[ganeshramk]

Token market has become very similar to HYIP market where you can simply buy a php script and hire a designer make a website for you. It's even simpler for ICO market because you won't need any script, just wordpress hosting will do the trick.

 It's really sad that cheaters are targeting crypto market as well in big numbers. That's the main reason why ICO market has lost its credibility! People need to understand that tokenization of everything will only lead to big disaster!

I am 100% agreeing with your second statement. Scammers are killing the very nice opportunities that bloomed for real projects to get funding and in the end beneficial for whole world.

[Paulinerims]

Didn't know it was that easy, damn.

Explains a lot why there are so many new tokens and "blockchain projects". Investing in alts is for me the most profitable thing I do, but every year you need to be more careful because there are just so many scams. I hope something is done about this.

[Chain Clash]

I don't think that the technicalities of creating an ERC-20 token and a website for an ICO were the distinguishing factor between a successful and an unsuccessful ICO and a scam. Also, it's easy to buy thousands of members for a Telegram group or posts in all kinds of "news" sites and create some buzz. In a way, these types of ICOs were not much different from other get-rich-quickly schemes that always had a certain lifetime until everyone noticed that those only work for a very selected group of people.

After these many years of ICOs being around, scams and (few) successful and (many) unsuccessful projects, potential should've gotten more sensitive to what kind of information you'd need to give other people money. We've also been through that with crowdfunding, but crowdfunding is still there and works (for some).

tl;dr: Such services are great for whoever wants to run a half-assed ICO or try to scam somebody, but they don't make an actual difference because the unavailability of this in the earlier days hasn't prevented any scammer from scamming.

[Cherylstar86]

Didn't know it was that easy, damn.

Explains a lot why there are so many new tokens and "blockchain projects". Investing in alts is for me the most profitable thing I do, but every year you need to be more careful because there are just so many scams. I hope something is done about this.

I don't think there is way to do something about those scammers out there in which their project looks like so legit and very convincing. Regarding the blockchain projects is so useful though we can't guarantee its legit but we need to be attentive, observant and gather a lot of information before we conclude everything as a process of investing and buying those possible doesn't exists coin.

[danielchris]

My opinion is clear that we should gain more & more information  & knowledge  about market conditions. Then take  decisions.

[poodle63]

Didn't know it was that easy, damn.

Explains a lot why there are so many new tokens and "blockchain projects". Investing in alts is for me the most profitable thing I do, but every year you need to be more careful because there are just so many scams. I hope something is done about this.

altcoin gives more volatility compared with bitcoin in term of the short term investment only. every year the scam icos is increasing a lot. So many parties have already discussed about this and the only best answer to give more education about that. There is nothing that we can do to prevent that. The scammer can issue a new asset anytime. We must be careful with it.

[alrose]

50USD plus good marketing and bounty campaign could bring you a nice profit, thats why we see thousands of ICOs everyday and people still are investing. But times when ICOs raised millions of USDs for nothing are gone.

That's exactly what these times have not passed. Still, many more projects miraculously still collect decent amounts.There are a lot of naive people.Especially among beginners.I think this is the most at risk category.