Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Fivestar4everMVP on September 26, 2020, 09:07:52 PM
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Welcome To Crypto Greetings My Fellow Altcoiners
I was having an argument with a group of people, we are all in crypto together so there isn't any need to think maybe they don't know much about crypto yet.
Our argument was based on crypto Startups, that flag off their ICOs or IEOs while team members stay anonymous, and sometimes with obvious fake names and no white paper, and even if sometimes, there's a white paper available, there's obviously no use case for the project's utility token.
Some people don't research before investing,(that's their problem), but those who research and notice all this and still go ahead invest, what do we call them?
I was telling my friends it's absolutely wrong to find such a project and invest and even lure other people into investing, forgetting the possibility that such a project could be runed by scammers.
But some disagree, saying that there are many projects that started off with anonymous team and today, they are super successful, some even used bitcoin as a point of reference, saying people who started bitcoin were never known even till today, and yet bitcoin is very successful,
since I got into crypto, I've never read anywhere where it was stated that Satoshi(who ever he is or they are) ran an IPO, ICO or IEO to raise fund for the development of Bitcoin (I stand to be corrected if am wrong), but this group of scammers will flag off an IEO with anonymous team, under the pretence that crypto is all about privacy, the most ignorant ones will believe and invest and even lure some newbies into investing.
Come to think of, we all know the C.E.Os of the most successful crypto projects in the world today, why didn't they stay anonymous in the name of crypto being all about privacy?? Look at Binance, Ethereum, Tron etc, we all know their owners, why didn't they stay anonymous?
I think the sooner we stop supporting projects with anonymous team in their ICOs and IEOs , the sooner scammers are likely to reduce in the crypto space.
If you are starting a project, and you know you won't be needing money from the general public to run the project, then for me, it's perfectly OK to stay anonymous if you choose to, but if you will be running a fundraising program or campaign, i think it's best you show yourself to the world if truly you have nothing fishy under your sleeves.. My candid opinion.
Ya all can say what ya think 🤔....
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No, only if you want to lose money, your title described perfectly the kind of project that everyone should avoid investing in it, and nowadays there is a lot like this. ::)
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Of course I'm not that brave. It's the same as we waste time and wealth. Investments in projects that are completely obscure. Just rely on 100% luck alone. Too very risky.
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No reason for me to invest in something on which I do not know who's the team behind the project neither no Ann and whitepaper only. Why will you ride in the airplane if you know that there is no pilot or any staff in it? You are so stupid if you ride in it even you know that the destination you want to go can't happen. Hope you get my point.
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Many DeFi projects have no team and people still invest, I can't understand it. I would not do it because right now, more and more scammers are trying to perform scam techniques. Scammers are always taking advantage of hype and soon, DeFi is full of scammers.
We all know from ICO about useless projects and how to avoid investing in shitcoin ICO.
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I will not invest in any project that does not have any information about the project on the website and in the whitepaper. I will invest in projects that have all the evidence on their website and either profile. Future plans are very beautiful. I will invest in such projects. I never want to invest in a bad project. Because a lot of my investment money is already involved with the scandal group and I have suffered a lot. So I want to invest in a better future.
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We have already seen more than once that if the ICO or IEO team is anonymous, so that they do not explain there, it almost always turns out to be a scam. It is very stupid to give your money to anyone in cryptocurrency. Of course, we cannot prevent others from doing this. Everyone has the right to choose. Anyone has the right to voluntarily give their money to scammers. We just need to warn naive investors about the great danger of such a step. However, the choice will always be theirs.
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It's a no for me I don't like to invest the projects with anonymous team and especially no white paper, for sure it's a scam project. Risky you know it is like you give your money to the scammers. Better to invest that already in the market.
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I doubt investing without clearly knowing the project team. I will not take risks so I will not invest without getting a lot of information about the project.
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theres a lot of new project out their but at the end it turns out to be scam or if they get listed the price will suddenly fall into deep. So i wont encourage everyone to get into newly project. Not unless, you are a season investors and traders who have deep understanding of project on crypto world. new comers should learn the basic first.
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bitcoin until now have high confidence to invest behold so many believe when all is full of risks if investment in the project IEO until this year there are still many projects IEO that hold the and correct any project that does not have a team that obviously is anonymous still believe and The favorite by the investors.
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I don't want to and will never invest in crypto projects that don't have a team and a whitepaper. Whereas a well-known platform that already has a clear team and whitepaper, is it possible that the project is still a scam, especially with a project that does not have a team and a whitepaper? I think anyone who invests in a teamless platform and whitepaper is a fool.
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It is very dangerous to do, because you can lose your invested money, because the team can quickly evaporate with the investors' money, and they will have nothing for it.
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I will definitely not invest in an incomplete project whether they are missing whitepaper or team info or incomplete website, all these are red flags for me and i will simply stay away no matter how good the project looks.
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Haha, it is important to be transparent about the team and the WhitePaper, but we should not trust it completely. Because scammers can create a professional website, add pictures of a few people and say that it is an experienced #DevelopmentTeam , consult the WhitePaper of some projects and write a very good WhitePaper. Investment is always a potentially risky thing, our job is to try to limit those risks.
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it is a huge concern and most projects currently listing on the DEFI SECTOR has little or no presence. most are just start up with no website, compiling a whitepaper which will probably not fulfilled and most are just targeting peoples funds. As an investors, the rules of investmenr in cryptocurrency is still viable.DYOR. make sure you invest what you can loose.
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Investing in In Startups, Projects With Anonymous Team And No White Paper?
Big NO.
It is really like giving money freely to the scammers.
Whatever the price and hype, personally, data and also information details are very important in order to avoid any bad things and risks.
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There is too much deception in ICO projects and teams as it is, because it involves large amounts of money. Therefore, investors and bounty hunters try to double-check the ICO written by the team in order to avoid deception in the future. If the ICO team is anonymous, then there is nothing to double-check here. It will really be like giving away your money to scammers. We cannot afford it.
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Personally I'm scared of projects with anonymous team. Though there have been such projects that perform overall well in the market. But it is better if the team are nit anonymous
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I don't want to invest this project right now . I just want to invest new project after the pandemic situation overcome .
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No, I won't invest in those projects because it's already a clear red flag for any project without appropriate information like team profiles, including the whitepaper. After all, every project needs to be transparent to avoid any doubt, thats why as a bit of friendly advice avoid those kinds of projects for your own good.
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If truly the intent is good and really want to deliver services and not cashout on investors, why then made the team anonymous. It just doesn't make sense to me anyways.
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Investing in such project is a very big risk. Bitcoin is one of its kind and only bitcoin can get away with anonymous team and still stay successful. I don't think I can take such risk regardless of how the coin pumps
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Investing in projects with an anonymous team is very risky, it's better to invest in top coins on coinmarketcap. Projects with a verified team can be a scam, anonymous project will be more risky.
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I tried this recently and it didn't end well. You really need to be close to projects owners so you can be aware of happenings. I ended up selling my tokens below the private sell.
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Most crypto projects whose developers and team stay anonymous often end up as scams. However many people, despite the knowledge of the high risks of such projects, still invest in them to quickly make some short gains. An anonymous tram can easily pull rug pull stunt.
I've been burnt in the fingers investing in one or two such projects, and I've determined never to repeat such mistakes again.
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An only stupid person who wants to invest in things like this. It is a completed combination of scammers od. Scammers itself will never make this kind of very good thing to be considered. because they may make the projects seem to be clear and they do not want to make any chance to recover.
here, I personally will never do it
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An only stupid person who wants to invest in things like this. It is a completed combination of scammers od. Scammers itself will never make this kind of very good thing to be considered. because they may make the projects seem to be clear and they do not want to make any chance to recover.
here, I personally will never do it
unfortunately there are many new people who don't understand cryptocurrency which ultimately results in them being deceived and eventually losing money, before investing in a project they should be careful and as much as possible not to lose.
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I tried this recently and it didn't end well. You really need to be close to projects owners so you can be aware of happenings. I ended up selling my tokens below the private sell.
I am very concerned about what you are doing because you decide to sell it at a low price and it will only make you lose, it's better if you can hold it longer and wait for the price to go up because currently many coins are expensive.