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Author Topic: We have the right tools but many don't know how to use them  (Read 230 times)
jossiel
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December 26, 2021, 09:27:28 PM
 #21

No, they're not really enough to solve scamming issues. Yes, we may see the efforts of them putting red flags for the particular scams but it tends out that they're only giving that warning if it's too late already and the project has proven to be a scam.

This means that there are people that have been scammed already by that project which has given the report to them.

witcher_sense
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December 27, 2021, 08:03:13 AM
 #22

you don't have to ask anyone for link to official website,
The mere fact that a cryptocurrency project has an "official" website should get you suspicious because it means that a given project has official representatives, is likely centralized, run by individuals whose decisions and actions may affect your interactions with a project. Oftentimes these representatives will prefer to remain anonymous because "Satoshi did the same," but the real reason for them being anonymous is that they want to hinder you from catching them in case they decide to run away with your money. In short, they are hiding behind their official status to siphon off your money more effectively and quicker. Not only should you have the right tools to avoid being scammed, but also the right mindset and discretion to avoid being fooled by creators of fake decentralization.

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Rengga Jati
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December 27, 2021, 11:42:30 PM
 #23

Coinmarketcap and coingecko are enough to solve scam problems if you are a newbie, you don't have to ask anyone for link to official website, contract address or telegram channel coinmarketcap and coingecko got you covered, no more fake contract address and buying fake tokens on uniswap, we have the right tools but many don't know how to use them.
Actually, it is not enough.
not all new coins are listed on Coin market Cap  and also CoinGecko. if you are willing to invest in coins that have been in the CMC and CoinGecko, it seems easier. but we must also be careful because not all data show that the coins are not shit. I mean that not all coins listed on CMC or CoinGecko are worthy to invest, many of  them are also  heading to shitcoins. But yeah, at least if we have been checking that the coins are listed on those two sites, we can really get the essential information including what you are talking about.

But for the new projects in which they are not listed yet on those two sites, we must do some analyze deeper.
We can analyze from the team, telegram group, smart contract, and many more information. too good to be true projects may be also suspicious.
Btw, related to the fake smart contract or fake coins, yes exact if they re not listed on CMC or CG,  we must ask it to the official admin in the official group. This is to make sure the probabilities.


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ice18
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December 28, 2021, 06:09:33 AM
 #24

Most potential new tokens are not yet listed in CMC and Coingecko and this is the advantage of early birds but unfortunately they fall on scam tokens since they are easily believe in fake projects actually they dont need tools just a research and asking others opinion is the key to avoid scam tokens. 

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December 28, 2021, 08:09:45 AM
 #25

I agree that CoinMarketCap is a good starting point to get some basic information about a certain coin. Besides the official website, CMC will also suggest you blockchain explorers, a link to the source code, audits, social media, etc. But all that should be taken with a grain of salt. Don't trust the info just because it's on CMC. Compare it with other sources. CoinMarketCap can get hacked (and has been hacked) like any other site. Information can be intentionally changed to trick unsuspecting users.

A project can work "legitimately" for months and months, until an "exploit" has been found whereas there's a good chance that the exploit was self-inflicted.
When we are on the subject of self-inflicted bugs and exploits, have you seen the movie Money Monster? It's got nothing to do with crypto. It's about the stock market, but still an interesting watch.

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