Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: VK.point on December 14, 2018, 11:35:26 PM
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I want to ask all of you who have a lot of experience in the world of bounty. Along with the development and rapid development of technology, how do you respond to bounty news that has proven to be fraudulent? Is there a solution to minimize bounties that are detected fraud (scam). Please share your experiences and insights, so that we beginners who want to participate in the bounty do not experience the same thing. Thank you for the forum admin, for all the time and hope that it can be useful for many people, especially in this very extraordinary forum.
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actually, it will be difficult to see whether the bounty is scam or not. first, we must analyze the ico projects whether it is legit or not. we can also see who the bounty manager, token allocation, and also community channel on the telegram and other social media.
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I am researching the first bounty manager who doing the bounty campaign. Then I am investigating the project which make bounty. And if i like the project, I join that bounty campaign. And I following the news on the telegram about bounty campaigns. Already usually when the project comes out of scam, the bounty manager locks up the topic.
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If the bounty is still starting stone we cannot distinguish whether it is good or there is an indication of a scam. Over time it will appear if on a social media account they have rarely or no updates, then the admin in the telegram group has already disappeared and the sales schedule is always changing. Those are some things that need to be considered.
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You have to research and read and ask around about a certain project before you invest or do bounty with them. You can see it if the team behind the project are active in social medias and in telegram answering queries. Also, check there updates about the project on there social media. If there is no progress for a week or so, ask around already. You can also see how the project worked hard on making website and its content.
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There are no clear ways to recognize a bounty as a scam because most bounties are actively done when the bounty manager is one that has high trust in the crypto community. Some pay these BMs and later scam the participants.
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I want to ask all of you who have a lot of experience in the world of bounty. Along with the development and rapid development of technology, how do you respond to bounty news that has proven to be fraudulent? Is there a solution to minimize bounties that are detected fraud (scam). Please share your experiences and insights, so that we beginners who want to participate in the bounty do not experience the same thing. Thank you for the forum admin, for all the time and hope that it can be useful for many people, especially in this very extraordinary forum.
Friend, the are no special ways to respond from a fraudulent news about a scam project, it just a total frustration and disappointment because of the wasted time and efforts.
Now, these are few ways to know if a project is a scam.
1. The Team. Check all people involved in the project to see if they are real and if they really have performed what they claim to have performed. The trick is to look for proofs of identity and real life presence: videos of real life interactions, articles published in respected journals and media, mentions by real life people and/or information vehicles, lectures, classes or anything that would confirm someone’s identity.
2. Not cleared white papers. The white paper of a proper project should clearly describe the problem the startup is trying to solve and the proposed solution. True, in some cases, the white paper may be too technical for a person with no special knowledge. In this case, turn to an expert and ask them to check whether the white paper makes sense.
The white paper may be full of such words as “innovational”, “cutting-edge”, “technological breakthrough”. If, in fact, it describes no real product or solution, there is a high chance that the project is going to be an ICO scam. Of course, if you notice that the white paper or other ICO website content is not original and contains a high share of plagiarism, better stay away from it. Etc
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It is very difficult to recognize a fraudulent bounty, to at least how to minimize this option, you need to delve into the research of the project, the ICO, the team and the white paper.
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It is difficult to say. First of all, read the whitepaper then analyze the team behind the project and if the members of there team were participating in the successful ICOs before. And the project has really well thought and attract people into the project.
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if I look at a number of things.
1. not listed and notified in the results of the sale during the campaign.
2. Managers have never been active either on telegram / bounty
3. managed by managers who have never kept their campaign promises. (Scam)
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Learn more! and more selective!.. It is what we must do to anticipate a bounty scam. I suggest you to never join bounties with suspicious teams or projects. Minimize the scam issues with more attention to weirdness of new bounties.