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Author Topic: How possible is it to fish out scam ICOs?  (Read 9495 times)

Offline Stuart

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How possible is it to fish out scam ICOs?
« on: June 16, 2019, 05:32:18 AM »
Projects of 2018, 2019 where filled with lots of ICO projects, and those projects did not pay the bounty hunters, and some could not be listed at any exchange. Projects developers has become more smarter and bounty hunters without being paid needs to get smarter too. The question now is "How/what patterns will the bounty hunters use in knowing how to figure out scam projects? ". Thanks.

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How possible is it to fish out scam ICOs?
« on: June 16, 2019, 05:32:18 AM »

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Re: How possible is it to fish out scam ICOs?
« Reply #1 on: June 16, 2019, 08:41:14 AM »
Must follow various media that provide information about the ICO whether SCAM or not, such as ICObanch, CoinGecko etc.
Suppose you have a team or bounty group that specifically discusses the ICO SCAM or not.

Like the Altcoinstalks forum, there is no such thing and there should be many members from this forum not trapped in SCAM projects.

Offline ZionRTZ

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Re: How possible is it to fish out scam ICOs?
« Reply #2 on: June 16, 2019, 10:55:36 AM »
Let us make things clear first, when a project fails to pay bounty rewards, it does not necessarily mean that they are scams. They could be legit but they can't raise even the soft cap. Failed ICOs is different from scam ICOs

There are already basic guides and a lot of them have been discussed here already. The most important factor probably is determining whether investors will buy into the project or not.


Must follow various media that provide information about the ICO whether SCAM or not, such as ICObanch, CoinGecko etc.
Never rely on these sites.

aiviaa485

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Re: How possible is it to fish out scam ICOs?
« Reply #3 on: June 16, 2019, 12:12:58 PM »
Never rely on these sites.
It's just following and not trusting it.
Following that there may be new opportunities when there are ICO, ITO, IEO that will be listing on various Exchange (not for trust and this is an option).
If we know about it, our opportunity to participate in the bounty or even investors becomes very easy (but must be based on various considerations).

Because their website also pays for Bumping Service and falsifies their financial income.  ::)


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Re: How possible is it to fish out scam ICOs?
« Reply #5 on: June 16, 2019, 03:25:48 PM »
Projects of 2018, 2019 where filled with lots of ICO projects, and those projects did not pay the bounty hunters, and some could not be listed at any exchange. Projects developers has become more smarter and bounty hunters without being paid needs to get smarter too. The question now is "How/what patterns will the bounty hunters use in knowing how to figure out scam projects? ". Thanks.

Yeah, though this topic has been discussed here in this forum, there are failed ICOs and scam ICOs, these two are different.
Now, this is one the ways you can figure out scam ICOs
Know the Team - The most important aspect of every project is the team, the co-founders, technology people and thinkers behind the idea.

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Offline Betim

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Re: How possible is it to fish out scam ICOs?
« Reply #6 on: June 16, 2019, 07:11:44 PM »
Templates are unlikely to help in this situation, because scam projects do not constantly use the same scheme, they improve the methods of deception and change tactics. Therefore, I think that it is necessary to follow the news and information on the forum about cases of fraud in order to have knowledge and not get on the scam. Although there is still a risk that someone will deceive us, so if someone was deceived write here on the forum about your case and describe in detail how you were deceived so that other forum members would be more careful, together it will be easier for us to get rid of scam projects.

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Re: How possible is it to fish out scam ICOs?
« Reply #6 on: June 16, 2019, 07:11:44 PM »


Offline alltalk

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Re: How possible is it to fish out scam ICOs?
« Reply #7 on: June 16, 2019, 08:42:55 PM »
I will focus on the team identities to know whether it is a scam ICO or not. Try to analyze and look for the detail information about the core team and advisors. Then, check the information about where the project comes from. Do a little research to know whether it is true or wrong that the project comes from a certain country. And we also need to analyze deeply about its WP, look for something odd there.
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Offline Stuart

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Re: How possible is it to fish out scam ICOs?
« Reply #8 on: June 17, 2019, 04:57:44 AM »
Projects of 2018, 2019 where filled with lots of ICO projects, and those projects did not pay the bounty hunters, and some could not be listed at any exchange. Projects developers has become more smarter and bounty hunters without being paid needs to get smarter too. The question now is "How/what patterns will the bounty hunters use in knowing how to figure out scam projects? ". Thanks.

Yeah, though this topic has been discussed here in this forum, there are failed ICOs and scam ICOs, these two are different.
Now, this is one the ways you can figure out scam ICOs
Know the Team - The most important aspect of every project is the team, the co-founders, technology people and thinkers behind the idea.

This has been a procedure that has been used over the time, and this procedure has fadeout. Scam projects are working on new ways that they can use in scamming people. As at last year, I heard of a project that used the images of people who never new anything about the project as their developers and ideas behind the project, until it was found that the project was scam.

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Re: How possible is it to fish out scam ICOs?
« Reply #9 on: June 17, 2019, 05:51:15 AM »
I look at the whitepaper first and find the idea of the project (problem and solution), then the team and i like to do a search of CEO of the project to make sure he is real. i try to find if they have private fund for the project or no.

Offline Alcor

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Re: How possible is it to fish out scam ICOs?
« Reply #10 on: June 17, 2019, 08:23:21 AM »
Our fight against fraud almost a single can not be effective. To solve the problem in general, a different approach is needed. I hope that already this year regulation of the activities of ICO projects at the level of states and their various interstate associations will begin. The first results may already be at the G-20 summit, which is due to be held this month in Tokyo. Only when the states with their broad capabilities of law enforcement agencies will join the fight against fraud in the ICO, only then will fraud in ICO projects practically disappear.

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Offline marcsymons

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Re: How possible is it to fish out scam ICOs?
« Reply #11 on: June 17, 2019, 09:29:37 AM »
Projects of 2018, 2019 where filled with lots of ICO projects, and those projects did not pay the bounty hunters, and some could not be listed at any exchange. Projects developers has become more smarter and bounty hunters without being paid needs to get smarter too. The question now is "How/what patterns will the bounty hunters use in knowing how to figure out scam projects? ". Thanks.

It is very hard to tell if an certain ICO is a scam so as a hunter what i did is to joined Bounty platform as i believed that they already reviewed well the project as their reputation is at stake but for those ICOs that did not listed in exchange this is due to they did not hit their target cap so better we choose the ICO with product that are feasible to the masses so that it could attract more people to invest.

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Re: How possible is it to fish out scam ICOs?
« Reply #12 on: June 17, 2019, 02:40:43 PM »
Sometimes is very hard to discover scam project in times of bounty hunting because some the project do come with fantastic offers but end of bounty hunting after you have received your token reward for the project to be listed in crypto exchange becomes a problem that's why you see some cryptocurrency coins in your wallet that had been in our crypto Wallet for along 
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Offline gotbounty

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Re: How possible is it to fish out scam ICOs?
« Reply #13 on: June 17, 2019, 03:51:10 PM »
As bounty hunters, we must watch out of any scams (actually not only for bounty hunters but also for investors and all participants). Actually, it is quite difficult to fish out the scam ICOs because they commonly work professionally as the legit ICOs. But for me, the standard way to analyze is researching their team members, whether they are authorized, real, professional, and having good track record or not. Then, analyze also their project concept and community.
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Re: How possible is it to fish out scam ICOs?
« Reply #14 on: June 17, 2019, 04:07:32 PM »
Not all projects end scam in 2018, many good projects have been successful by paying BTC and they have a good bounty manager.
Team members and road maps cannot be a reference for scam projects or not, even projects that do not show their team members at various meetings and only post updates of their ideas can reach hard cap. ???

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