How i define scam project?

[leea-1334]

Assume they are all scams. And then, I always say this and this is important.

The best way to prevent getting scammed is not take part in them at all. I agree with your point.

It is a bad thing that many VCs and retail investors have previously tried to back crypto projects and realized the truth that they cannot go head to head with a mainstream project of similar idea and that is what leads to the bankruptcy and failure of the crypto projects. The projects tried to publicize themselves doing airdrops and so on. But this has become a place for scams and free labor for the bamboozled bounty hunters.

Right now, the only thing that can be done to book future profit is buying bitcoin. No diversification into altcoins, if you have money to spare go to traditional fiat markets and buy some stocks, bonds, metals.

Yes,,, because if you assume they are all scams then you do not take part in any.

But my point which was more important was to see projects and coins as an opportunity to learn something new and do something new. If you do not have a use for the coin,,, stay away. If you cannot use it and cannot support it other than to trade it,,, stay away.

Bitcoin is the same! If I could not use it, if I could not benefit from it other than trading, I would stay away.

[carlfebz2]

Assume they are all scams. And then, I always say this and this is important.

The best way to prevent getting scammed is not take part in them at all. I agree with your point.

It is a bad thing that many VCs and retail investors have previously tried to back crypto projects and realized the truth that they cannot go head to head with a mainstream project of similar idea and that is what leads to the bankruptcy and failure of the crypto projects. The projects tried to publicize themselves doing airdrops and so on. But this has become a place for scams and free labor for the bamboozled bounty hunters.

Right now, the only thing that can be done to book future profit is buying bitcoin. No diversification into altcoins, if you have money to spare go to traditional fiat markets and buy some stocks, bonds, metals.

Yes,,, because if you assume they are all scams then you do not take part in any.

But my point which was more important was to see projects and coins as an opportunity to learn something new and do something new. If you do not have a use for the coin,,, stay away. If you cannot use it and cannot support it other than to trade it,,, stay away.

Bitcoin is the same! If I could not use it, if I could not benefit from it other than trading, I would stay away.

Bitcoin is different on the other hand and we are talking about shitcoins on here where theres no relevance or actual usage into their existence.

When it comes to selection of projects that you are tending to engage on then there are several factors that you should consider.

Relevance and not to engage with copy cats should be put up in mind. Choosing projects is hard as hell but using up your own common sense
and bit of research would do the job.

[leea-1334]

Bitcoin is the same! If I could not use it, if I could not benefit from it other than trading, I would stay away.

Bitcoin is different on the other hand and we are talking about shitcoins on here where theres no relevance or actual usage into their existence.

When it comes to selection of projects that you are tending to engage on then there are several factors that you should consider.

Relevance and not to engage with copy cats should be put up in mind. Choosing projects is hard as hell but using up your own common sense
and bit of research would do the job.

It does not matter. my point was, if you have a use for it and you can also support the project, then by all means go for it. Then the price does not matter. For example if you used Steemit and you do not care about the price but want to use Steam dollars to boost your content, then at least you have something to use it for. Most alts are pure speculation, no utility this was my point.

[TheUltraElite]

It does not matter. my point was, if you have a use for it and you can also support the project, then by all means go for it. Then the price does not matter. For example if you used Steemit and you do not care about the price but want to use Steam dollars to boost your content, then at least you have something to use it for. Most alts are pure speculation, no utility this was my point.

But supporting a project does mean that the backer has some interests in it. Very few people would back something just out of pure emotional connection. VCs do that for profits because they have the skills to identify a possible profitable project from a non-profitable one.

I get your point but most of the users here have come to back projects to get paid. One of those could be by becoming a part of the project in future but I dont see that being the most common case for VCs or retail investors.

SBD is a good example for how alternative use to money can be obtained by using the same altcoin. This is lacking in most altcoins - an inherent method to develop a supply/demand gap. That drives the price and keep the market active.

[leea-1334]

It does not matter. my point was, if you have a use for it and you can also support the project, then by all means go for it. Then the price does not matter. For example if you used Steemit and you do not care about the price but want to use Steam dollars to boost your content, then at least you have something to use it for. Most alts are pure speculation, no utility this was my point.

But supporting a project does mean that the backer has some interests in it. Very few people would back something just out of pure emotional connection. VCs do that for profits because they have the skills to identify a possible profitable project from a non-profitable one.

I get your point but most of the users here have come to back projects to get paid. One of those could be by becoming a part of the project in future but I dont see that being the most common case for VCs or retail investors.

SBD is a good example for how alternative use to money can be obtained by using the same altcoin. This is lacking in most altcoins - an inherent method to develop a supply/demand gap. That drives the price and keep the market active.

Not necessary,,, I see community members as two distinct people.

Token buyers and Users.

Token buyers have a financial interest in it, but they are not even thinking in the same mind as investors (who do not buy the token but put money in the development).

Users of course would love to see a good price but a bad price does not stop them from using it. Think of Bitcoin as the easiest example. They do not see themselves as becoming controllers (unless you are Elon) but they are happy knowing they help make up the whole big Bitcoin economy simply by using.

[semobo]

Project team's reputation is the most important factor you need to consider before investing or joining into a bounty or airdrop. Then there are some easy ways available in like when a team lies about their raised funds and they keep saying that their project is going to launch soon again and again.

[Dread Pirate Roberts]

The most frequently used way to identify a scam project is to look at the developer team, track record, scale of their business, any documentation material related such Whitepaper, Roadmap, Website etc. but sometimes projects with good plans and preparations also still had possibilty to be completely faild or abandoned. and end up with completely fails. I prefer to choose some project that already running and is in a position that many people are interested in.

[asriloni]

Joining in the bounty or aidrop will be similarly with gambling or speculating with the future of project and how reputation of developers. There are so many greedy developers and they will not let the hunters or airdrop participants to take the advantages from their tokens. This is the fact and i have even seen so many times the legit projects were scamming the hunters.
You can 't define it easily because sometime the developer act like they were a trusted parties but the fact was the opposite thing.

[Ruvi2000sew]

If you really want to build anything positive out of bounties, you need to go through white paper before joining. See their tokenemics, Road map and the project team. Think that they have real solutions for a real-world problems. Always check articles related to the subject. Compare with competitors.

[pinoycash]

If you really want to build anything positive out of bounties, you need to go through white paper before joining. See their tokenemics, Road map and the project team. Think that they have real solutions for a real-world problems. Always check articles related to the subject. Compare with competitors.

Well there are some projects that have well written whitepaper but still end up scam, Always check team members if its legit or real person. Most of the time a project with real team will have less chance of scam.

[slaman29]

The most frequently used way to identify a scam project is to look at the developer team, track record, scale of their business, any documentation material related such Whitepaper, Roadmap, Website etc. but sometimes projects with good plans and preparations also still had possibilty to be completely faild or abandoned. and end up with completely fails. I prefer to choose some project that already running and is in a position that many people are interested in.

This would make most companies still operating in the crypto sector scams.

1. Anonymous teams more majority than others. Track record impossible to look at because you don't know who they are.
2. Scale? Everyone started from zero. Bitcoin scale was 2 people sending each other bitcoin.
3. Documentation? Defi projects now don't even do a whitepaper.

I agree, look into these things but having them all and being impressive about it costs a few thousand dollars on fiverr:)

[lienfaye]

The only way to know if the project is scam is through an extensive research. Check the website, whitpaper, roadmap and the team. Having a transparent team using their real names and backgrounds are much better because its an indication that they're genuine. There must be a working product that solve real problem, in short the coin must have utility.

Since you already have experience on bounties and airdrop probably you already have an idea of what likely a scam project is. High rewards or a too good to be true offer are also shady.

[smartaction]

I am new in crypto sector. I was participated many airdrop and bounties. but most of them were scam. They didn't pay their promoter.

Check project team and Whitepaper these are plagiarized or Original. If thous are Orginal then check project Roadmap, project Feature. Check that they are able to work according to their roadmap or not. This is the first step in verifying the project.

[Ararbermas]

I am new in crypto sector. I was participated many airdrop and bounties. but most of them were scam. They didn't pay their promoter.

actually when it comes most airdrop and bounties you really need a patience mate because it takes too long sometimes before they distribute the rewards for every participants. Of course yes there's a message from them that after the campaign and etc they will give those rewards but you know mate there are factors that really caused delays for the distribution and you need to understand it.. Perhaps if you use to update them through telegram just to have information for sure you have peace of mind, because in fact that's commom now when it comes to projects wherein they always provide telegram chat for all participants..

[TheUltraElite]

Not necessary,,, I see community members as two distinct people.

Token buyers and Users.

I get your point. But I still dont agree that the two groups of members are mutually exclusive. There will be overlapping because everyone had to "buy-in" to get a portion of the tokens - the similarity with equity comes from this. But they dont have any legal control over the project - the dissimilarity with equity comes here.

Well there are some projects that have well written whitepaper but still end up scam, Always check team members if its legit or real person. Most of the time a project with real team will have less chance of scam.

That well written whitepaper may very well be copy pasted from another project. So checking that is always going to be a proper method to determine scam or not.

Team members true, but advisors are the ones who need to be contacted personally on linkedin and so. Create an account on linkedin if you are serious about it and check their accounts, PM them about the project and their thoughts on in.

Sometimes you might find a surprised reply that they never heard of the project till date and they were using the advisors name on their site without permission. another sign of a scam.

Also check the "phone number" and "address" usually posted in the footer. Recently I cam across a group of websites which were MLM scams and were using different domain names but the same phone number on all the sites.

[stomachgrowls]

Define a scam project?

1. Anonymous team
2. Unrealistic roadmap
3. Copycat ideas

and lots of more and its not hard to determine which one is fake and which one is legit but be careful that there are projects do look good
but do end up on a scam in the end. So you should really do your assignment on making up some in-depth research which it isnt
really time consuming but if you are really serious on your investment then you would definitely do it.

[anu1908]

Project Hampuz, IrfanPak, and many other managers receive low-rank accounts by participating in social media and articles campaigns.

keep in mind that those managers can't guarantee the payment or the tokens value, especially if the tokens are not escrowed. so don't blindly join any campaign even if the manager is reputable, since some of them might never pay you or the manager itself.

[ivankoh]

I am new in crypto sector. I was participated many airdrop and bounties. but most of them were scam. They didn't pay their promoter.

Do tests with them.  I have a habit of forming and applying them to bounty projects which are always messy to go to the website, go to telegram, inquire and use visual evaluation, go to the project's media (twitter, facebook)  ) continue to feel, communicate with the admin in the group or even exchange and appraise the role of the campaign manager.  The more projects you observe, the more you will realize which projects have a "real" rate of fake, fraud.  The more tests you do, the more you value your own labor and reduce the risk to others.
Many of us hardly have enough expertise to fully know whether the information in WP is fake or real or copied.  So I ignore WP.

[$crypto$]

Define a scam project?

1. Anonymous team
2. Unrealistic roadmap
3. Copycat ideas

and lots of more and its not hard to determine which one is fake and which one is legit but be careful that there are projects do look good
but do end up on a scam in the end. So you should really do your assignment on making up some in-depth research which it isnt
really time consuming but if you are really serious on your investment then you would definitely do it.

Those are some of the cases that must be considered more important in projects with anonymous teams and should also be suspected at least can be displayed, for me doing this task is very important if any of us want to invest because new projects can not be guessed whether this will success or not will even be a scam as you say it.

And of course, from all of this, you have to take the risk that sometimes a project that looks good in the end can turn into a scam.

[Chaykenh88]

Projects are created with many promises but you need to have a calm mind to think deeply. No achievement can be easily gotten so if you check the CV of developer team and see no past impressive record, don't take risk.