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Author Topic: How to know if the project is fake?  (Read 5897 times)
istiak2277
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July 19, 2020, 02:13:39 PM
 #101

There are many elements that can show us that it's a fake project. One thing I notice that most of the fact crypto project is not so active in social media. Also, you can check here in the forum for top rank member's opinions. You will find many projects that is a market and verified as a scam project by the top and reputable Bitcointalk members. Also always keep an eye on social media for a new updates about scam projects.

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July 19, 2020, 02:18:04 PM
 #102

One thing I notice that most of the fact crypto project is not so active in social media. Also, you can check here in the forum for top rank member's opinions. You will find many projects that is a market and verified as a scam project by the top and reputable Bitcointalk members. Also always keep an eye on social media for a new updates about scam projects.
Nowadays, most projects are hiring specialized people for being active in social media. When they are having dedicated people for each and every activities of their project then the chances for finding fake project is becoming too difficult. I completely agree with you for going with top rank's view and opinion. When experienced people are helping us then the chances for finding legit project will be too high. Still, we need to remember that even experienced forum members are getting scammed by highly planned ICOs.

there are many ways to identify a project scam or not, it's just that we don't know when we found it.

That is the reality. Until you experience everything goes smooth, you will never find out whether a project is legit or scam. Only when we start finding problems we may start counting them into scam category and the efforts and money we have put into them until then we'll go in vain; no other go.





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B.wealth
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July 19, 2020, 02:35:07 PM
 #103

The best way I know is by during good research about the project team, read about the CEO, advisors and other key members of the team, another way is by checking their partners if they are actually partnering with any well recognized company or personnel in the cryptocurrency industry, with this I think you should get the fact you want.

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July 19, 2020, 02:41:06 PM
 #104

previously I have never checked the authenticity of a new project address, for now, I prefer projects that have been listed on the market, although the price is cheap but the success rate of the project is clear.
yes absolutely right, the risk is very small if the project has been listed in exchange, rather than not at all, many fake projects that appear this year, hopefully we all avoid it
It is only true when you select the altcoins listed in the major exchanges in this market, if you choose the altcoins listed in the small exchanges, I believe you will have a similar result. , the price will decrease many times and you will lose money with it

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July 19, 2020, 02:57:20 PM
 #105

We are in a very active forum, lots of members cared for the community, so once the project listed is scam, it would certainly receive a negative tag from DT members but some pretty good projects also make public introductions in a normal way and ultimately succeed.
It is indeed appropriate for fraudsters to receive it, because this is every manager always checks the project before he manages it, because if there is already a negative thing in his account, it will be difficult for everyone to trust in the forum.

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July 19, 2020, 02:57:44 PM
 #106

I have always been of the opinion that there are several ways to identify a fake project, but it all depends on each n every individual in the space, as a researcher, what do you see about a project? Is it the hype or the genuinety?
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July 19, 2020, 03:18:33 PM
 #107

There are many ways to spot the real intent of a new project, through asking tough questions you can burst a project if it's a scam, scammers don't like been asked tough questions, they will just get you blocked if your questions are too hard to answer but still you can't escape falling victim once in a while

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July 19, 2020, 03:21:54 PM
 #108

previously I have never checked the authenticity of a new project address, for now, I prefer projects that have been listed on the market, although the price is cheap but the success rate of the project is clear.
yes absolutely right, the risk is very small if the project has been listed in exchange, rather than not at all, many fake projects that appear this year, hopefully we all avoid it
It is only true when you select the altcoins listed in the major exchanges in this market, if you choose the altcoins listed in the small exchanges, I believe you will have a similar result. , the price will decrease many times and you will lose money with it
sometimes the founders of the project will try other ways, maybe by building their own exchange project and making IEO run on the exchange as happened to the BCNEX exchange, which currently has a scam, so you have to stay alert when you want to participate in a new project offer.
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July 19, 2020, 03:38:19 PM
 #109

I always read details about the project .I study on whitepaper if it is plagiarized or not .A real project has a always go through their plan and have a great platform .you may visit the scam accusation of forum to find scam project .Hope you will get it.

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July 19, 2020, 03:49:41 PM
 #110

I have always been of the opinion that there are several ways to identify a fake project, but it all depends on each n every individual in the space, as a researcher, what do you see about a project? Is it the hype or the genuinety?
As a researcher who must always be seen is the real team in a project along with the project office and their collaborative partners must also be seen, it is up to the project to be hype or genuinety, clearly the things I say are things that must be seen first.

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July 19, 2020, 03:56:07 PM
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 #111

1. Check for plagiarism
2. Check when the project start development, if it's same year as 2020 and few months ago be more careful
3. If the project is listed on exmarket, p2pb2b, latoken, vindax the project is undeniable useless
4. Check real profile of the team on social media, make sure they have more than one pictures of real self
5. Ask impressive questions about development and future plans

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July 19, 2020, 04:07:19 PM
 #112

I am still wondering why people here didn´t mention GitHub as the most important factor if the project is dead or scam. The best indicator of how the team is active in development is the number of GitHub proposals.

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July 19, 2020, 04:26:34 PM
 #113

It is actually hard to know or to identify the fake project. Most of the projects can literally make their project looks legitimate and many investors have really been victimized. But for your suggestion of looking for their address thru google maps, it can be effective and not at the same time. There are times that in some locations, the information posted and the building/businesses/shop located in a certain area is not the current running business on the said location.

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July 19, 2020, 04:33:20 PM
 #114

You can easily reduce the risk by investing only in IEOs that are created by real professionals. If the creators have successful projects in the portfolio.
The problem is that most of IEOs are not managed by professionals, they do not understand the problems what will come when they start developing the project.  Roll Eyes

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July 19, 2020, 05:12:05 PM
 #115

Honestly I myself still have trouble determining fake projects, after reading many ways that can be done by checking research in various fields and I just heard by checking the location can determine fake projects in my opinion it is quite reasonable

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July 19, 2020, 05:19:40 PM
 #116

Still I am totally against fake project. Because the ultimate victim of fake project is bounty hunter and investors. This is not ethical for us to make fake project or to promote the fake projects to grow.

There are several reasons behind it like team member's identity, white paper, website etc. Only one factor can't define it completely.

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July 19, 2020, 05:30:51 PM
 #117

Honestly I myself still have trouble determining fake projects, after reading many ways that can be done by checking research in various fields and I just heard by checking the location can determine fake projects in my opinion it is quite reasonable
Actually, most of us here are having trouble determining the fake projects,

Even if you have done thorough research to know whether if the project is fake or legit, it will still end up being a scam.

As OP said, checking the location can determine fake projects, yes it is reasonable. It is a big help to everyone, it is a must-do first because this is where we can determine if the project is really telling the truth or not regarding their location.
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July 19, 2020, 05:56:52 PM
 #118

That's really a good way to spot fake projects, also to add to yours, another way is by checking the partners they list on their website. Checking their social media presence and activeness is also another way, because a project that is proud of their works or ideas won't hesitate to post a thing or two on their social media accounts. In addition, although the team can still steal other people's profile and cover up perfectly, one can still check the team's experiences to ascertain their level of seriousness. Lastly, although it is becoming a norm to overlook ideas and focus on hype ( not all the time though), but checking if the idea is really achievable is also a good way to spot the bad ones out.

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July 19, 2020, 05:57:12 PM
 #119

I may be wrong, but the most effective way to detect fraudulent projects is to check the identity of the development team. Very often even not particularly in-depth verification shows that the identity is fictional. To make sure of this, just look at the topic on the forum, there are plenty of examples.
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July 19, 2020, 06:45:20 PM
 #120

1. Check for plagiarism
2. Check when the project start development, if it's same year as 2020 and few months ago be more careful
3. If the project is listed on exmarket, p2pb2b, latoken, vindax the project is undeniable useless
4. Check real profile of the team on social media, make sure they have more than one pictures of real self
5. Ask impressive questions about development and future plans

Good checklist but I think the time of how long since the project start development is not meant much. As well as questions about development and future plans since they could pepared all of it before hand. Still, I think this is how people should do before invest in. Follow your list to see if they have any red flags.
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