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