Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: masterrex on November 03, 2020, 11:34:00 AM
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In the crypto industry, many people are using privacy and anonymity to hide their true identity and launch their own projects, and even using the Bitcoin creator as alibis because "Satoshi Nakamoto" is also anonymous thats why it's not an issue but things, have changed already because today scammers are everywhere in the recent Defi hype many projects are sprouting like a mushroom that was created by an anonymous team and then what happens next? they have suddenly vanished away including the money from the investors thats why it's time to wake up dont invest in the projects that were created by the anonymous team of developers.
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how is it possible to believe in a project whose members are anonymous. We don't even know those who created the project, then what about the future of the project. It will also be difficult for us to consult if we have questions. It is better for us to avoid such projects.
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Investing in anonymous projects is considered normal in the years 2017-2018 when people take it for granted because no one wants to get caught up in legal troubles in the crypto sector. However, after a lot of fraudulent events of any kind, mainly project teams suddenly disappearing with the proceeds of Token-Sale, the community has become more wary and said no to "hidden" projects like that.
Now scam projects have found another method: they use pictures found on the internet, create an impressive biography, and then create a team that seems talented to deceive the new investors. Investors should also be interested in AMAs, videos, team appearances at major crypto events, or reviews from trusted crypto experts.
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I avoided the project with the anonymous team because it could not be tracked and its whereabouts were unknown. Better to look for projects that are clear and supported by a strong team
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Even projects with clear teams can be scam, especially projects with an anonymity like that. I don't really recommend it myself. When it becomes more and more difficult to find good projects, why choose projects with anonymous teams. Better think before you invest.
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Big factor that the project is scam or cooking something unusual. Why hide team's identity if they're intentions are pure? Are they playing safe not to provide transparency to the community in order to take advantage the investors?
For me that project is suspicious. Maybe it is understandable if the project are fully decentralized at the beginning. Then, the whole risk is upon the person who wants to get involve and support the team which I think very vulnerable. He is only the responsible of what he is doing, not fair enough.
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Investing money in cryptocurrency projects is a risk. And if the team of such a project is anonymous, then this is a double risk. A team with good intentions will not hide behind anonymity because they have nothing to hide. And she will value her reputation to be able to develop her project.
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I think and hope that nobody will invest in such project. It is also big risk to invest in the project which doesn't have anonymous team. :) Everyone must be very careful in investing, invest only money which you can lose.
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In crypto currency, alot of people worry about the wrong things. And believe me worrying about the ceo has no significant advantage while investing.
Everybody knows binance cz, that did not cause bnb not to dump or pump with time. Same with tron and etherum. Everyone knew eth ceo, but it once traded at 50-80$ just months ago.
Your research should be based on evidences of achievable profits.
You need to have a consistent profit plan that you follow
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Exactly, if we invest our funds into the projects with the team is not reputable and also trusted, it may lead to being a scam. And after scamming, we can't do anything. Analyzing them can be done by analyzing their social media, LinkedIn, and many others. It will be seen if they re really real person or not
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Obviously, staying anonymous when you are looking to raise funds is not only suspicious but a big red flag so we need to stay away from such projects. Recently we saw a surge in such projects in the name of defi and the result is disastrous as mist of these projects have already disappeared.
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Satoshi Nakamoto is one and only and aside from this anonymous guy or group there's nothing that we can trust. If a person or group behind the project uses some great personalities from crypto world we have to be suspicious because what they are professing is just great bait.
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The number of ICOs is now decreasing and switching to IEOs, it should be that if a project wants to do IEO with one of the exchanges, the exchange must oblige KYC for the team of that new project, so that it will minimize the project scam and make investors comfortable and for investors must choose the exchange which already ranks in the top 10 on the Coinmarketcap list.
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Always be careful of what you wanna do. Bear in mind that actual world is risky, crypto is more risky. Every project's deserve to research before joining. Once you got into the wrong place, all your time, efforts, and money will lost. Do not waste time and money as much as possible. Anonymous team is not transparent of their identity possible it will be the same to their future big achievements.
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Thanks OP, this piece of advice is priceless. Unfortunately this is the sad reality in the cryptospace. A lot of projects that investors dont check them properly before investing on them will eventually close development and runaway with investors funds. Its really heartbreaking to see that this kind of trend keeps thriving in the cryptospace and looks like they are still completely unchecked for.