Reality of tokens

[Katashi]

I am amazed to see how cheap is to create all the things to trap the innocent investors and bounty hunters. It's very sad scammers finding new ways to scam the people easily. Because of scam projects market is badly affected. We have to be more cautious to identify scam projects.

Yeah and because of this scammy projects the society sees that crypto investment is all about fraud and bull shit. it is very hard now to on board new investors in crypto space because scammers are so good on creating a fake project that will looks like legit for everyone by simply spending a little amount of money and hire some people to do the work for them.

[Bonenx14]

I am amazed to see how cheap is to create all the things to trap the innocent investors and bounty hunters. It's very sad scammers finding new ways to scam the people easily. Because of scam projects market is badly affected. We have to be more cautious to identify scam projects.

Yeah and because of this scammy projects the society sees that crypto investment is all about fraud and bull shit. it is very hard now to on board new investors in crypto space because scammers are so good on creating a fake project that will looks like legit for everyone by simply spending a little amount of money and hire some people to do the work for them.

difficult to restore public confidence because of the many frauds that occur, plus the ability of people to judge good or bad investments quite a lot that do not know it in other words they invest because of references and this happens a lot.

[disconnectme]

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.

If this was during the last bull run then the scammers would have chance of raising money in the space, there are several projects in 2017 that were able to raise huge amount of money but ran away with people's fund. Only a gullible person would invest blindly into any projects now without due dilligence

[TrevorS]

The fact that creating your own coin is not a difficult task is rather good than bad. After all, this blockchain is freedom. It is bad that people use this freedom to the detriment of others, trying to cash in and get rich at the expense of other people, which in itself is a flawed way of thinking. However, as I said above, everyone does what he wants, our task is not to fall for the tricks of all kinds of scammers.

[Arkann]

Fraudsters are also not fools and do everything so that their activities bring the best results.  I don’t pay attention to projects that, like spam, come to email or in other dubious ways, because even if there is a real project that provides sufficiently complete information, even after a complete analysis of which, it can still turn out to be fraud.

[lobat999]

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.

Just a quick thought! There are two possibilities that came to my mind about this developer. One is maybe he/she is a late bloomer in the ICO scene that is why he/she is charging a very low cost development fee which is ridiculous and in fact, I doubt if he/will get a 1k dollar income on more than 10 projects he/she will help setup or maybe be given a huge bonus if the scam ICO succeeds! I think if only he had experienced the ICO boom of 2017 then he/she would be more likely could have charged more than 1,000 times per project!

The other one is that maybe he/she is also a scammer whose target could be scammers also. In anyway, these are shameless and blatant examples of greed and should be outright avoided! I also wonder why Fiverr didn't act accordingly and discourage those obvious freelancers doing services that help propagate and encourage more scams and scammers alike.

~snip~

oh really, if before icos come I don't think such services are needed. but well, its doesn't matter.
otherwise, i just think cryptosphere still have a lot of dummy people, hunger with free money, still promoting scam project, even though they know already that .

I was referring to the general crypto scene where cryptosphere has been targeted by scammers even before Ethereum became operational and ICO's became buzzword.

[key4co.in]

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.

This is a bitter truth, most projects have fake team members who just buy ready made ICO websites and token from developers who create multiples, on Fivver and upwork for instance. After that, they pay influencers to bring in Hype for the project, with a catching project aim. This boils down to the fact that, in as much as I admit regulations will drift from decentralisation, it's necessary to curb all this mess. Nowadays it's very difficult to differentiate between genuine and scam projects.

[kooboat]

Tokens are meant to promote the use of cryptocurrencies but unfortunately most people use it for  negative purpose. Scam projects have always been with humans and not just cryptocurrencies. Due to greed and many people falling for cheap hype, the cryptosphere has become a friendly ground for all fraudsters.

[perla]

That is why i look project from it's product. My perspective is, when they have no product yet, they create ICO to make their ideas get realized. It means they only rely on investor's money or maybe not have back up from their own money.

same with me  no real product ready is look like they just want to raised funds the serious project should have a ready to use product and the fund the they will raised is just to help the project to be bigger.

That is my point. Money for develop or maybe make their project bigger is better than money to created product. I think people's money is not a toy, so they can't do experiment with our money especially if we don't know project really work or not.

[xiboothrezi]

snip---- In anyway, these are shameless and blatant examples of greed and should be outright avoided! I also wonder why Fiverr didn't act accordingly and discourage those obvious freelancers doing services that help propagate and encourage more scams and scammers alike.

I don't know, I'm trying to think positively that the service maker is trying to help people or teams who want to develop their project (in fact there are those who use it to deceive people) so that Fiverr doesn't filter it. Or indeed Fiverr lacks the knowledge that it can be a field of fraud in cryptocurrency.
What is clear, we really need to be more thorough. We know that making your own tokens is easy, just by creating an ICO website and various fake data can fool many people through raising funds for projects. No wonder ICO's reputation is getting worse, and IEO is giving more certain guarantees (held at compatible exchanges) that the project is real.

[JayTrain]

That is why i look project from it's product. My perspective is, when they have no product yet, they create ICO to make their ideas get realized. It means they only rely on investor's money or maybe not have back up from their own money.

same with me  no real product ready is look like they just want to raised funds the serious project should have a ready to use product and the fund the they will raised is just to help the project to be bigger.

That is my point. Money for develop or maybe make their project bigger is better than money to created product. I think people's money is not a toy, so they can't do experiment with our money especially if we don't know project really work or not.

I completely agree, I also think that the time for ideas, empty ideas is behind us, while a working product gives investors more confidence in making a profit on investments

[Dalmar]

I think ICO is less attractive now. Even though there are some projects that run ICO but eventually it will fail and bring novice investors money.
With this service, it can finally be seen that deceiving people is easy and inexpensive, not comparable to what they get from investors. It's better to learn more from experienced ones to invest in the right and profitable way.

IEO as a new tendency of token sales is replacing the ICOs and investing in the ICOs doesn't look attractive for me. It is now a type of fundraising for the scammers and the security concerns are no more barriers for IEO investors. Bearing the new features to the fundraising goals changes the opinion of the crypto population, the situation was changed from negative to the positive side.

Yes, IEO is better than ICO, but in fact after the IEO period is over and the HYPE period is over, prices that have soared become slumped immediately. So I think this is the same as money games. Whoever comes at the beginning gets the most. It was seen from investors who just want to profit quickly. In the long run, it depends on the development of the coin or token itself.

The current reality is obvious for the altcoins, choices are limited to the IEO or buying from the exchanges after it gets listed. The IEO period is now soaring the prices of listing but there are no other alternatives, unfortunately. The big guys don't want to see random coins get pump-dumped and they only appreciate the power of the well-known top altcoins.

[perla]

That is why i look project from it's product. My perspective is, when they have no product yet, they create ICO to make their ideas get realized. It means they only rely on investor's money or maybe not have back up from their own money.

same with me  no real product ready is look like they just want to raised funds the serious project should have a ready to use product and the fund the they will raised is just to help the project to be bigger.

That is my point. Money for develop or maybe make their project bigger is better than money to created product. I think people's money is not a toy, so they can't do experiment with our money especially if we don't know project really work or not.

I completely agree, I also think that the time for ideas, empty ideas is behind us, while a working product gives investors more confidence in making a profit on investments

If new developer can see what investor want, i think there will be no problem with ICO or IEO, or any kind of public sale. Because what both want is profit, we investor already give our effort from our money, developer must do something to create symbiosis mutualism too.

[asus09]

Faster way to get much money is become owner of IEO and ICO, why not you can earn daily more than $1k for every investor in your coin, they do not think how the future your investment and how much you have get profit, they only know with how to earn money with their investment coin without care reality of token at the future listed on exchange market or not, have higher or lower price than ICO is not they worried when make new coin.

[TelolettOm]

Faster way to get much money is become owner of IEO and ICO, why not you can earn daily more than $1k for every investor in your coin, they do not think how the future your investment and how much you have get profit, they only know with how to earn money with their investment coin without care reality of token at the future listed on exchange market or not, have higher or lower price than ICO is not they worried when make new coin.

Therefore there are currently so many projects that are doing IEO. and I suspect a lot whether it's serious or just for their fraud project. to do an IEO right now it costs 0.5-10 BTC. Of course they already have a calculation of how much funding they will get with the capital he has spent so much

[Kambal2000]

Faster way to get much money is become owner of IEO and ICO, why not you can earn daily more than $1k for every investor in your coin, they do not think how the future your investment and how much you have get profit, they only know with how to earn money with their investment coin without care reality of token at the future listed on exchange market or not, have higher or lower price than ICO is not they worried when make new coin.

Therefore there are currently so many projects that are doing IEO. and I suspect a lot whether it's serious or just for their fraud project. to do an IEO right now it costs 0.5-10 BTC. Of course they already have a calculation of how much funding they will get with the capital he has spent so much

Yes, even a small kind of project they are doing it ICO/IEO just to raise fund, so let us be very careful with this. We don't need to trust everything and we don't need to invest in every project, we just need to choose wisely, investigate and always check the credibility of the team, if they are really expert with what they are doing.

[erickastella]

yes, I agree with that, now there are many projects that only want to benefit themselves, with the lure of going to enter binance, bitmax or other large markets, the project has a lot of interest, I used to be fooled by projects like that, and I won't be exposed again for the second time.

[desticy]

If you organize your IEO, because you are a no-name, people will not buy anything.
The maximum that you earn is the price for listing on your exchange and for selling.
How do scammers manage to earn money?
They create a fictitious hype around their exchange. As a rule, this is not enough to attract many people, but enough for a small amount whose money will subsequently be brazenly stolen.

[DeathProxy]

This is a sad reality we need to deal with within this crypto space. There are so many other similar crypto scam project like this that jyst create token without anything tangible to offer,  then they go ahead to scam some lazy and novice investors who are to lazy to make appropriate research on good project to invest in. This will continue to go this way except if regulations come into play

[LbtalkL]

So cheap, but even you or I can make tokens from ethereum network, you just need basic knowledge of computer and with the help of google and youtube tutorials you can create your own token. But I think only people with scam motives will avail this, the website is so familiar the same theme with scam projects that already exist, no one will invest for sure people are smart now they will review everything unlike on the year 2017 everyone is greedy.