Reality of tokens

[pamsugas]

that's what happens why many ICO scamer now only have $ 50, they can fool people and get money easily. ICO can't count anymore because there are many scamer. IEO is a better generation than ICO

[Samboo]

Yes indeed, there are many ways found by scammers to scam people in the crypto space. One of them is the one you have stated here. Basically, we, all bounty hunters, traders and investors, should be aware enough so as to avoid being scammed under any pretext. We as bounty hunters must research to a greater extent before promoting a bounty campaign.

[10c]

Yes indeed, there are many ways found by scammers to scam people in the crypto space. One of them is the one you have stated here. Basically, we, all bounty hunters, traders and investors, should be aware enough so as to avoid being scammed under any pretext. We as bounty hunters must research to a greater extent before promoting a bounty campaign.

bounty hunters cannot foresee actions that can be made by the team in relation to the bounty hunters. as a rule, at first, it seems to us that the campaign is good and in the end, they just don’t pay or pay 10 times less

[TheICE007]

The rate of scam is now so much, fake project everywhere, perhaps because it is cheap to start up and make profit from innocent newbies. This is why we should endeavour to make or carry out research before investing in any project to avoid pains and regrets

[Wysi]

The rate of scam is now so much, fake project everywhere, perhaps because it is cheap to start up and make profit from innocent newbies. This is why we should endeavour to make or carry out research before investing in any project to avoid pains and regrets

We need to look at this from investor's prospectus as well as bounty hunter's prospectus. A through research about the development team and their previous projects will be handy to judge the strength of the team and bounty hunters should not feel inferior and do their own research before joining any bounty as most of them are scam nowadays.

[hahay]

Yes it is a cheap start to make a scam project and with that service at least it becomes an additional input for other references for us to be more careful in assessing every project that appears. So still be careful because the scam project will not disappear even though regulations have been set, think again to spend your money to invest before you do in-depth research.

[serjent05]

Yes it is a cheap start to make a scam project and with that service at least it becomes an additional input for other references for us to be more careful in assessing every project that appears. So still be careful because the scam project will not disappear even though regulations have been set, think again to spend your money to invest before you do in-depth research.

This is one of the reason many calls for ICO, IEO regulations.  Creating tokens and coins are too easy, just look at OP's post,  finding people to advertise is much more easier, look at the altcoin bounty board, but with regulations, at least these fly by night ICO will be trimmed down.  These scammer will have a second thought of creating a scam project because they need to provide their identities and the validity of their project to the institution to secure investors participating in crowdfunding.

[SistaFista]

Why the seller sells their service only for $50 ? That is like inviting scammers to using their service.
A real project won't use the service if only worth $50, because it will be risky for real project to using such low price service.
If anyone can make ICO website and create ICO token, then ICO won't be good to invest.

[joshua123]

This is probably a new modus in the crypto. Im afraid most platform or those who are literally wants to earn free money will do this kind of investment scheme and will take it to the highest act then if the project suddenly blooms then boom wille exit together with the money they have been collected from an crowdfunding source such as ICO.

[Aabcde]

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.

Yes, because today is the hardest time in the crypto world, there are many issues everywhere. Especially for the negative issues. Whale will play cautiously, where he will dive and where he will surface. To be safe, it's better to just use your funds in a clear place and there is no pump and dump.

[Aldrinx00]

This is the reason why ICOS are dead, it's so easy to create new tokens to scam people. Investors lost interest and trust and i think it will not stop until strict regulation is implemented on ICOS, it's still not too late to rescue ICOS from dying.

[DaveWave]

This is the reason why ICOS are dead, it's so easy to create new tokens to scam people. Investors lost interest and trust and i think it will not stop until strict regulation is implemented on ICOS, it's still not too late to rescue ICOS from dying.

It is more safer to just invest on coins that are already in the big exchanges. It provides further security when its volumes are already big as it is easier to sell them anytime.

There are already ICOS that are SEC compliant and government compliant. All of them needs KYC though and there are many people in crypto that hates KYC. ICOS do not need to be rescued. A real and legit project can find a way to be successful and it is a bonus when it complies with government rules.     

[EdvinZ]

It's no secret that creating your own token is easy. But marketing costs are also necessary, and this is the most expensive event if the founders of the coin want to attract a lot of investment. But it is not enough to make a token and advertise a token, you need it to include in the listing of good cryptocurrency exchanges with high liquidity, and this is not cheap. Otherwise, the costs simply will not pay off. In addition, a token clone made on some service is easily recognizable. And Yes, this way of launching tokens has ruined the ICO industry.

[iv4n]

This is the reason why ICOS are dead, it's so easy to create new tokens to scam people. Investors lost interest and trust and i think it will not stop until strict regulation is implemented on ICOS, it's still not too late to rescue ICOS from dying.

It is more safer to just invest on coins that are already in the big exchanges. It provides further security when its volumes are already big as it is easier to sell them anytime.

There are already ICOS that are SEC compliant and government compliant. All of them needs KYC though and there are many people in crypto that hates KYC. ICOS do not need to be rescued. A real and legit project can find a way to be successful and it is a bonus when it complies with government rules.     

Of course its more safer to invest in top coins, they are surviving for years and in some of the coins we are sure that they will stay here in the future. People should really invest in these top coins before they start investing in risky new projects.
I agree with you that there are good and legit projects around, trustful projects with great teams behind.
I know that it's easy to make a new erc20 token, on some other platforms it's even easier to the same. People will try everything these days to make some money, but for them to be successful scammers they need much more then 100 dollars for a new token. This is just one more good reason for us to check carefully where we invest our money and in which bounties we plan to participate.

[Bitbtc8]

Most scam projects are from eth smart contract like everyone is saying and there is nothing to fix the issue now but yesterday i was aware that the next ETH upgrade is moving from the old blockchain to a new one, well if this is the case i hope buterin and eth teams will consider spanking off scam tokens and it can be easily done

[Stanlo]

Its one of the reasons why i like investing in standalone coins that are not running on erc20 blockchain, its because tokens are easy to build thats why it has become scammers favourite tool, this is tarnishing the image of Ethereum itself

[Bitartistt]

there is new project called hawk network and this project has more potential than we think, i suggest all you guy please take look on that here is a twitter link of them
https://twitter.com/Hawk_HKC/status/1184768244802052096

[henmark]

Most of these types of frauds had been going on for quite some time even before the advent of ICO's that is why we need to raise more awareness on this things to prevent people from getting  victimized over and over again!

Fortunately, I think the cryptosphere is now getting more matured and most of its members are now well aware of this kinds of scam and should be equipped with necessary knowledge to detect it and avoid it accordingly not like before when mostly were victimized due to their naivety!

I believe so too, and it is because investors are being very careful now that even the good projects are still not getting to meet up with their hardcap again, many investors are always very skeptical now in putting their money into a project that they are not very sure of.

I thought that it would be difficult for people to really make research, but people are making research very well now before they commit their money now into the ICO market. I know that the time will come that all these scam project will be very discouraged about releasing any project too because they will not see anyone to buy into their idea, while hunters too are being picky about project before they project it to the entire world.

So, I think that we are getting there in this aspect of selecting a project very well before investing in them.

[Sithara007]

Its one of the reasons why i like investing in standalone coins that are not running on erc20 blockchain, its because tokens are easy to build thats why it has become scammers favourite tool, this is tarnishing the image of Ethereum itself

I agree that the abundance of the ERC-20 tokens have tarnished the reputation of Ethereum. But we should not forget the fact that initially, ETH benefited from these tokens as well. In 2017, when the ICO boom was at its peak, the exchange rates of ETH (vs USD) went up by more than 100 times. This was even more than the rise that BTC had.

And regarding the ICO scams, some of the blame must be put on the investors. A lot many people tend to invest in the projects without studying about them in detail. And when these project turn out to be scams, the investors start blaming Bitcoin and the cryptocurrencies in general. I am tired of listening to the whining that comes from such people. They should have been more careful... and perhaps less greedy.

[BintangBuleun]

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.

Making ICO very easy for those scammers, but if they want to do it seriously, then they need a lot of capital. For example, make a project about exchanges. I think not enough money with $ 50.
So, if we want to choose ICO investment, then we should be able to see which projects will run their business seriously.