bitgolden
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April 14, 2020, 01:45:25 PM |
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No matter how much careful you try to be still things happen, some projects go dead even though their team had good intentions in the start. That's why only invest what you can afford to lose.
When you are careful in choosing campaigns and new coins for investments then the chances for not getting scammed is more compared to choosing them randomly. Still anything may happen at the end because we cannot do anything about accidental failure of projects. Please note there are big differences between failure of projects and well-organised scams. Now it is hard for us to distinguish the scam projects because they are so smart, everything is perfect until they scam.
This industry is getting old and people are becoming too smart but for negative reasons. Honestly identifying scams have become too difficult. This is why I have decided not to risk my money in any new coins but only with bitcoins. I'm not sure how many people have already decided like that.
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Emitdama
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April 14, 2020, 02:00:37 PM |
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mainly is research. several other factors such as the positive reputation of the developer in managing the previous project, having a real product or in accordance with the project work map, having a large partner, MYP project and many other things that can determine the project is feasible or not.
I have seen many project have MVP and are used by many people. But after they finished their ICO and IEO, they quickly became a scam. Now it is hard for us to distinguish the scam projects because they are so smart, everything is perfect until they scam. What is MVP or MYP? Is this just typo or both are different things? Let me come back to the topic; Now a days, people have started demanding bounty rewards will in advance so that they believe they can reduce the chances of getting scammed at the end, then devs also do agree to pay but that project never hit exchanges but bounty hunters will keep on waiting. This is how smartly scammers are working these days. Manipulating markets are very older way of scamming which is happening everywhere and we cannot do anything about that. So, I am afraid altcoin scammers also may continue regardless of how quicker we are taking precaution steps.
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ntsdm1
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April 14, 2020, 04:35:06 PM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
There is a good platform on which you can choose a project that is clearly not fraudulent.Here is the link: https://icodrops.com/ I'm always looking for projects here.
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ololajulo
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April 14, 2020, 04:51:09 PM |
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I will still emphasis on looking at the team of the project. If the team are credible you can be confident of safety, I believe this is where scam project start from,they try to put up a good identity. If they dont have the name they look for recognized crypto present that can be attractive. After the last ICO saga and prosecuted member of cryptocurrency in US, People have been careful in supporting ICO/IEO starting from Vitalik, He distance himself from any startups.
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mersal
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April 14, 2020, 05:03:49 PM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
You can't be 100% sure whether the project is legit or not even if you had done enough research from all the perspective that is why we can avoid investing on new projects if you don't want to lose any of your money.But when a project shown their real face then its hard for them to get away after scamming so look at the project team members first before going in to invest.
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suryapro
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April 14, 2020, 05:36:16 PM |
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repeatedly the bounty hunters ask about scam project or not. but the definitive answer is we don't know it. because once again I explain to you , who knows the project is fake or not just the owner of the project itself. even a bounty manager doesn't know the project he's handling. so what we can do is choose a project based on how we feel.
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isaac_clarke22
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April 14, 2020, 05:52:55 PM |
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Don't wait for someone to post in Scam Accusation before deciding, as you can investigate it by yourself anyway. Believe me, your research is more worth the money that you could've risked as you will not only save your money for some garbage throw investment but save a lot of investors from starting to have fear in investing due to many scams just like the fear that caused ICOs to disappear.
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TrevorS
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April 14, 2020, 06:10:16 PM |
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Don't wait for someone to post in Scam Accusation before deciding, as you can investigate it by yourself anyway. Believe me, your research is more worth the money that you could've risked as you will not only save your money for some garbage throw investment but save a lot of investors from starting to have fear in investing due to many scams just like the fear that caused ICOs to disappear.
You're right. If a project is not listed, this does not mean that the project is not a scam. You need to check everything and as carefully as possible. Scamers are very smart and cunning and will do everything possible to prevent them from being discovered.
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Lynfax
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April 14, 2020, 06:21:44 PM |
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repeatedly the bounty hunters ask about scam project or not. but the definitive answer is we don't know it. because once again I explain to you , who knows the project is fake or not just the owner of the project itself. even a bounty manager doesn't know the project he's handling. so what we can do is choose a project based on how we feel.
And the funny thing about all these bounties is there are a lot of guys who recommends to other people reliable bounties. But as you already mentioned - there are no confirmed info in public about any bounties nowadays
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palle11
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April 14, 2020, 06:31:00 PM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
I think this thread can also help hunters to avoid signing up to scam bounty. https://bitcointalk.org/index.php?topic=5230885.msg53975958#msg53975958Some signs are obvious while you have to assume some yourself with experience. It is really bad to help in project promotion and not get your share of the agreement.
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SistaFista
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Hexhash.xyz
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April 15, 2020, 07:25:35 AM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
In cryptocurrency, i don't think we can ensure that we are 100% safe from scam projects. There is always scam risk before we invest on any crypto projects, that's why many peoples said invest in crypto with only what you can afford to lose. But actually we can reduce the risk by researching toward the project we want to invest, usually it consume a lot of time for research but it worth to do.
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Rosilito
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Wish for the rain? Then deal with the mud too.
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April 15, 2020, 07:58:08 AM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
Extensive research. Not just the kind of research wherein you're just scanning the project/startup's website and not doing extensive background search. You need to look past the wonderful looking website, the listing promises to a prominent cryptocurrency exchange and even to how well-known the team behind such a project is. Dig deeper until you find some red-flags. Avoid getting lured in with the "nice things" others may say about the project/company; you'll have to do your assessments on your own. If everything checks out then you may jump-in, but remember, invest only what you can afford to lose. These stuff mainly the critical points participants are missing out. Scam projects aren't that dumb to let themselves be find out easily. So as persuasive the project may look like, hiding shading things would be on their top priority but that doesn't mean they'll get everything cornered out. If you are going to dig deeper you could find those unusual things and be soon can conclude that such project ain't real at all. So, yes, research is still a thing though but do it not in general way. You know, small pebble in your shoe can ruin the whole marathon.
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UPUPUP3
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April 15, 2020, 08:04:52 AM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
The best way to detect a fishy or a scam project is if it's promising something that sounds to good to be true. If someone is offering you a guaranteed 5%, 10% or even more daily, weekly or monthly gain, then that is a scam. No one can guarantee that much gain on such a short period. 5% gain on a yearly basis is great and everything more than that should be considered at least suspicous. Agree, never believe those high profit project ![Angry](https://bitcointalk.org/Smileys/default/angry.gif)
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Genemind
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April 15, 2020, 08:11:00 AM |
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How can we save ourselves from well-organized scam projects? Some projects are so well crafted and in the end, they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, everything is so real and make sense, please give advice about this
White papers are easy to create as long as you have technical knowledge. Even team profiles are also fake. That is why you need to make a thorough understanding or research of the project. You need to do more than reading or if you must check each of the profile of the team to know if the team is composed of ligitimate person or of it is a fake profile.
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fulled
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April 15, 2020, 08:25:51 AM |
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theres not a 100% safe trick to avoid well organized scam project, for me even i did deep research for weeks, sometimes i still get scammed by a project, so for now, i just stop doing research and just wait till the project hit big exchanger, traded in big exchanger is my indicator to invest in a project now
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rdewilde
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April 15, 2020, 08:39:21 AM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
This is true that most projects which later scammed once had good whitepaper, potential use case etc which make me most of the times fancy IEOs on top exchanges as the rate of exit scam is little to none. Nevertheless, what can we do than to increase our study skills, learning from how others were able to scam even when seen as good projects and using it as a basis to learn more about others. Also, another way most people tend to follow is waiting till the project is listed on good exchanges. However, in all sincerity, it is hard knowing how to spot scam projects because humans can't be predicted so at all times be watchful.
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ije07
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April 15, 2020, 08:52:29 AM |
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I think it's quite difficult to find fraudulent projects, because most projects look convincing or look real. as you say that the project is well organized, but there are still ways to avoid it by doing detailed research about the project and leaving if you see suspicions about the project.
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shoreno
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April 15, 2020, 09:08:45 AM |
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there are really a lot of perfect scam and even we investigate deeply about the project we wouldn't still know that it's a scam.
oh really man ? that was scary but i think i agree with this because i also see people complain about scams and those people are not really new on this world of cryptos so i assume they already done thier research but unfortunatly scammers still succeed . nothing they can do anymore about their money but they can always report it here so that other investors that seeks advice can be aware and be save from incoming dangers . but dont worry , karma is the only one that can find them .
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Yamifoud
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April 15, 2020, 09:53:05 AM |
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I think it's quite difficult to find fraudulent projects, because most projects look convincing or look real. as you say that the project is well organized, but there are still ways to avoid it by doing detailed research about the project and leaving if you see suspicions about the project.
They are not perfect, there's always a hole in a team that would give us a hint to figure out their true identity and market intentions. Of course, we can't easily figure it out and they are making things to sort it out but this kind of trick will never succeed in the ends. But the sad note is that they already have their victims before it was noticed by many. It can be an unlucky day for them who are caught this scamming activity but the good thing is that we save a lot and also the market reputation.
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TheGreatPython
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April 15, 2020, 06:09:21 PM |
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How can we safe ourselves from well organized scam projects? Some projects are so well crafted and in the end they scam people, to my own understand research doesn't help here at all, use case, whitepaper, team, every thing are so real and make sense, please give advice about this
Yes, you're not lying about this. There are some scam projects that are well organized and people don't know that they are scammers until they carry out their plans and by then it's already too late to do anything about it. But, I still think that it is possible to find out at the earlier time, and that's with the team. If you want to play it safe, you should check out the team that's running this project and get to know their social media handles on Twitter and LinkedIn. After you have gotten their handles, you should check them out on those platforms and see when they have been active, and if they are still new accounts, then you will have to be wary of them.
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