Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Similificator on December 25, 2017, 11:32:19 AM
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Tittle says it all. I really wanna know. Not that i have sht to invest, but i want to know because i want to join bounties that will give me good coins so i can have capital and start investing and trading. Please respect this post. Thanksin advance for the advices guys.
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You just have to dig deeper on your research to find out which ones are legit. Of course, reading the whitepaper is very important as well as checking the team behind the project. Here's a good example of a good upcoming ICO that I think is very promising. Check out VLUX https://vlux.io/
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On the forum a lot of threads which discusses how to choose the ico and bounty. If you just want to choose the bounty, then look at what signatures wear high ranks on this forum.
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I define the project like this:
- The idea. Is the project needful?
- Site. The site should look decent.
- Road map. Is there nothing strange? Once I saw that it indicated that the team would be assembled after ICO :) I would pass by such projects.
- White paper. It is difficult for a beginner to understand this and as a rule there are a lot of pages in it. Read them and eventually you will understand.
now it's very difficult to determine what a scam, and what is not. Scam projects are very well disguised as good ones. Make good whitepapers, road maps and beautiful sites.
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I know it is really tough to identify the SCAM ICO now. But we can be 80% sure by doing a proper analysis. You must have to follow some step to identify SCAM ICO. I have made a post before about this. You can check my link:
Here: https://www.altcoinstalks.com/index.php?topic=31163.msg152506#msg152506
Thanks.
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It is quiet difficult to identify scam ICO's from legit ones. But you should always read the whitepaper and find out the team members profile on social media to find out how legit they are.
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An established company (highly regarded) with a product and a valid company address (not a virtual address). There are just too many ICOs and those that are answerable to the government and subjected to the country’s law have a lesser chance of running away overnight.
*Professional video with their team talking about the ICO including Youtube Interview with bloggers and influencers. This would be very hard to imitate using Fiverr. Alternatively, their CEO and core team would go to roadshows or exhibitions. Scammers wouldn’t dare to go live and reveal their faces in real.
*If they are a startup, then the top management would make themselves available in social media and answer questions simply because they care! If they are real, they have nothing to hid and you should be able to verify their credentials easily even by talking to them. You should be skeptical if they are always hiding behind the scene and not contactable.
*Over-emphasis on the rewards or things that sound too good to be true. For example, words like “200% pre-ico bonus” and “ROI in 3 months” should set off an alarm.
*Be skeptical of ICOs that ask you to send crypto to a personal wallet address. As the crowdsale doesn’t use a Smart Contract, it means you have no visibility of the total funds raised at any time and guarantee they will send you the tokens after the ICO ends. It is unfortunate that I’ve seen more and more ICO launchers using this method and investors waiting a lot longer to get their tokens after 8the ICO ends. Ideally, investors only need to trust the Smart Contract and not the words.
Linkedin profiles of top management with recommendations from real verifiable people. You should be skeptical of their profiles if they could survive all these years without any recommendations from anyone.
“I don’t who you are, but if I know a friend who can prove you are good and actually exists because I trust my friend, I trust you.”
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There's no way to differentiate ICO scam to legit. The least you could do is studying their documnet presented such as white paper roadmaps and team member! From there you can al least made a decision and check the legitimacy of the project.
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Safest bet is to go with an established company run by reputable individuals that has an already proven product being sold in the market. Case in point: VLUX - http://vlux.io/ (http://vlux.io/)
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To differentiate is very simple scam ICOs are not paying the bounty rewards allocation they promised to bounty hunters while legit ICOs are paying very well to bounty hunters participated in the campaign.
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I think legit ICO has a clear vision, a good management team and a useful product.
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Identifying scam ICO's requires a lot of effort. You will have to do your investigation very well before you invest in an ICO. You will have to read the whitepaper and understand the project. Then the next thing is to investigate about the team members, their profile on social media and what they normally post.
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This s based on you. Yo have to develop a way you want to and that will help you. You can read the whitepaper, and also you can read more about the team members to know more about them and you will know whether they are legit
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It is so hard to differentiate scam ICOs from the legit ones first thing to do is strictly the documents papers should be apply in every ICOs to determine not a scammers and the projects if all ICOs legit it will be running smoothly that we will not worried the scammers.
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everyone including investors would want that. but it is very difficult to predict the success of an ICO project. I see the ICO project from the experience of the team and the advisors of the project.
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everyone including investors would want that. but it is very difficult to predict the success of an ICO project. I see the ICO project from the experience of the team and the advisors of the project.
Checking the team and their linked in account if possible should be one of the things you should do to check if the faces of their team members are legit. I take into account their social media accounts if they have followers and if they are attending those crypto related events because it would mean they are doing their best to expose their project.
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You can check my signature because there is a good Bounty campaign.
but if you want to choose a good ICO, then I suggest you go to this link: https://www.altcoinstalks.com/index.php?board=20.0
good luck !
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Try to check if they already have a working MVP or prototype. If they do, you might want to put that project on your top list.
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It's more and more difficult to differentiate SCAM ICO from genuine one. For example I have waste months of my time doing bounty for ABLE ICO which had 5.0 rating at trackico and at the end it revealed a scam...
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I does not have a foolproof plan you can increase the legit rate by doing more analysis on the project on youtubers and influencer in crypto space if they are advertising it that ico should be legit.
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Tittle says it all. I really wanna know. Not that i have sht to invest, but i want to know because i want to join bounties that will give me good coins so i can have capital and start investing and trading. Please respect this post. Thanksin advance for the advices guys.
In my opinion, You should check it at icobench and bountylord. You read the whitepaper and roadmap.
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Once you defined where you are, I can say that you will be aware in how to determine the legit and scam ICO. Experience will make you more wiser.