Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Domithra on September 21, 2018, 02:50:43 AM
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The scams are not associated with Bitcoin because they were projects on their own. The only way this can be checked is to set regulations on various platforms where these projects are hosted. Details of the team members (KYC) and smart contract of the coin must be collected and thoroughly investigated in order to ascertain a good level of authenticity of the project before it is allowed to be posted on the forum or platform.
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We are not yet in implementation of serious regulations to prevent the scams project. Once the market will become striker than today, most probably we can experience huge changes. I don't know if it would be for better or for poorer.
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Since there are no regulations yet as to how to address those scam projects, crypto enthusiasts should help each other in exposing those scams. Being a member of the forum, one should share with others if they notice something fishy about a project because they can prevent others to be scammed. If many would be in a consensus of doing it then the scam projects would be lessened until such time that forums or sites would be more strict in posting their ICOs.
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I don't know how to control a scam ICO project, . But we can minimize being scammed and it can be done with caution and not in a hurry in choosing a Project and selecting it. The Scam ICO project is very difficult to control and know at the moment, therefore I don't know how.
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Actually to control the scam projects is a hard thing. Scammers use various ways to manipulate information and deceive people. I don't know why they become smarter. To anticipate it, we are advised to analyze and observe an ICO with many indicators. Know well which ICO potentially to be a scam and which ICO is a right one.
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The best way to know and avoid scam project is simply going through research.check the website, whitepaper,teammember,roadmap, most of all try to know what concept of the project is all about.
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The scams are not associated with Bitcoin because they were projects on their own. The only way this can be checked is to set regulations on various platforms where these projects are hosted. Details of the team members (KYC) and smart contract of the coin must be collected and thoroughly investigated in order to ascertain a good level of authenticity of the project before it is allowed to be posted on the forum or platform.
Scam projects can only be controlled by regulatory body...there are no better ways to control them
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We are not yet in implementation of serious regulations to prevent the scams project. Once the market will become striker than today, most probably we can experience huge changes. I don't know if it would be for better or for poorer.
Yes, we need more serious regulation to identify the project and the team behind the project. I think if it is possible, we need an association that can do identification process to new ICO projects. By this way, I am sure the scam and fake projects can be minimized.
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Since there are no regulations yet as to how to address those scam projects, crypto enthusiasts should help each other in exposing those scams. Being a member of the forum, one should share with others if they notice something fishy about a project because they can prevent others to be scammed. If many would be in a consensus of doing it then the scam projects would be lessened until such time that forums or sites would be more strict in posting their ICOs.
I quite agree with you mate, if crypto investors/traders/bounty hunters will work together against all the scammy projects around, there duplicity will be greatly reduced even without regulations.
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It remains to wait another 1 year and in 2019 the cryptocurrency will be regulated and all the scammers who will make scam ICO and will deceive people will be caught and will be imprisoned.