Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Bobcrypto on August 20, 2018, 04:11:00 PM
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I have been wondering why most start up projects will come with excellent white papers that convinced many investors, and bounty participants yet ended up been a scam. How can we sort this legit white Papers from the fake? Thanks
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It probably. In my opinion, today, it is very difficult to distinguish between the legit and scam ICO. Both of them sometimes have the legit and clear whitepaper. They also create their website as perfect as usual. And finally, they belong to scams. This condition really makes us feel difficult. But, if we want to analyze deeper in their team and community channel, we may be able to reveal that.
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When scammers are going to create a fraudulent project, it is natural that they try to create the appearance of a legal and prospective project as much as possible. Many of them hire professionals, pay for marketing, so it's difficult to identify a fraudulent project or this one. The first way to check the project is to contact the project team and talk with them, maybe even meet, see their office.
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There are a lot of ads on the Internet offering Whitepaper, creating a site and everything you need to start and promote ICO, so you have to be extremely careful to choose a project and it still does not guarantee that you will not fall for the scammer.
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When scammers are going to create a fraudulent project, it is natural that they try to create the appearance of a legal and prospective project as much as possible. Many of them hire professionals, pay for marketing, so it's difficult to identify a fraudulent project or this one. The first way to check the project is to contact the project team and talk with them, maybe even meet, see their office.
Everything you wrote is perfect except the latest.
For example, I live in Uzbekistan. And for me it is physically imposibble to meet team members or visit their office.
There should be online tools to check or alert off fraudulent projects.
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It's very hard to discover this king of scammers, personally after reading whitepaper I try to figure if this project can be successful, if there are competitors and if blockchain is needed for this project... if not I will not invest.