Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Stuart on June 16, 2019, 05:32:18 AM
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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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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.
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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.
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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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Apply the same guides you use when investing into projects. Is it really useful? If it is, then it most likely that they will have a successful token sale. If the sale is successful, then bounties will get paid.
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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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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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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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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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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.
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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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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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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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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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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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I also still feel confused about how to avoid scam ICOs. So far, ICO scams are very difficult to avoid, they are likely as the same with the legit ICO. So far, I only focus on analyzing their team members, checking their social media, and other information in order to know whether they are real or not.
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We can get rid of fraudulent ICO projects only when states and their international organizations establish common rules and regulate ICO activities.
ICO bounty campaigners will not be able to effectively resist fraudulent projects in this area. In most cases, we cannot even establish in which state the fraudsters and their real data are located. Only if the ICO team will properly register and be controlled in the general points of their activities, only then will the fraud in ICO projects decline.
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Bounty hunters find it very difficult to fight fraudulent ICO projects. For now, the ICO teams dictate the terms of joining their campaigns of generosity.
I believe that fraud in the ICO can only be effectively dealt with when there is government regulation of this type of ICO activity. If state authorities check the documents of the ICO team, make copies of them and, if necessary, make certain requests to identify these persons, the level of fraud will drop very sharply.
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for me scam projects have fake teams, telegram groups with lots of bots, and fake tokens. besides that there is no update about the ongoing project.
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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 depends if the project was successful and didn't pay hunters r if they couldn't make it through their ico but didn't pay hunters then that's another different case and I really have had this experience once
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Now 9 out of 10 ICO projects are fraudulent, there is no need to catch them, they tell people about themselves, now you can see good projects in IEO
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how to find out the ICO scam, certainly no news updates about the project either ICO, IEO or STO sales. lack of partners, unclear teams and bounty spreadsheets that aren't updated.
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It is super hard. I got scammed lots of times due to this reason. It is more sensible to check the project from other sources than twitter or facebook. Check the team, check what is going on in their telegram account.
If there is no news or only good project messages probably that project is scam.
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Seeing the #DevelopmentTeam because with the #DevelopmentTeam , it is certain that it will be able to analyze how the project will be a SCAM or it will be successful.
It's better in that way because in my opinion it's very easy to see the #DevelopmentTeam that is always on the main website.
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So many projects also, their ICO was successful but they don't even pay their bounty hunters. I've always check who are the bounty managers and which project that they handle in the past. It's better to look for a project that is prefunded.
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nowadays, even how caution bounty hunter, it could not dodge a failed a project. It's really difficult to choose a good project atleast reading their written documents will help you assess to continue.further or just stop immediately. Following their social networks and reading reviews might also give.insight and could help decide.
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it became very difficult to recognize the scam
a lot of companies neither send anything at all
some send other tokens and promise to change them
but these tokens weigh in a wallet
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One thing is when you invest in ICO your money and then it turns out to be a scam and it's a completely different matter when you're a bounty hunter. It's a lot more unpleasant to invest in ICO and not get anything more than advertise a project as a bounty hunter and not get anything. No one from the first and second ones is not insured and no fuses here will help
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But wait, what do we call scam?
1. An ICO collects money, unlocks tokens and do great returns then doesn't deliver anything. Abandon the project. (e.g. Atonomi)
2. ICO collects money, they exit scam.
3. An ICO collects money, cannot even unlock tokens and when they do, they dump prices (e.g. Sparkster!)
First one is kinda okay actually, we can still get tokens and sell them. But to be able to recognize one, look at their team whether they look genuine or not, as about their roadmap, also if it seems to good to be true (in terms of dream/return/tokenomics) it is probably scam.
good luck
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If the scammers have made a competent ICO project, it is almost impossible to catch them, because the cryptocurrency is anonymous
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It does not make sense for those who created the SCAM project, but indeed the proof is that they did something like that in the world of cryptocurrency.
I also say they (the scamers) will keep laughing to see the money collected then stolen easily by them. Bad!
It is also very difficult to avoid that because I also sometimes get caught up in projects that end in SCAM!
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Scam ICO's can be easily spotted by just having an investigation about it's project team, feasibility of their goal, etc. but we just intend to see past through it because of laziness. I always suggest to DYOR before diving into an unknown project to be safer than most of the time.
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Scam can be avoided by doing some researched about the project before joining in any ICO, if you sense that the ICO was shady then dont join that campaign thats simple. Bounty is not paid if the ICO was failed to raise its softcap sometimes good and promising project was not able to raise the needed funding so it was scrap.
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We need to improve our knowledge and information about current ways of scammers to trap people. They sometimes do the actions with different ways, so this needs to know how they scam people currently. The common way is by analyzing the data of the ICO's team and google to know the truth.
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It is easy to create ICO coins and now in trend for the IEO. This is for my experiencce at IEO at small exchange .
The IEO is an Initial Exchange Offering, with the situation progressing, scammers can easily adapt and many IEOs are now SCAMs, such as IDAX and CoinEal.