Oh, man...Why many scams? - ICO/IEO's - CryptoTalk.Org Jump to content

Recommended Posts

There are a lot of reasons why we have many scammers taking up their unofficial residence in the world of cryptocurrency. One big factor is the deregulated nature of this industry. I mean anybody can just copy another project, have somebody do the WhitePaper and all the nitty-gritty details, rent somebody's official name to be a part of the project team and advisers, publish a site, do a bounty in BTT and then start getting money from the public...but wait where is the permit? No need for that unless you are accepting money from the ugly Americans. No, of course, they are not ugly am just joking.

Now, after you get at least a million dollars, then make sure that you do something about the road map for at least three months and since that can be difficult you formulate a big excuse like the site is hacked or that you have a cough and you need to go somewhere in the Pacific Ocean (am sure there is an island there that can accept a scammer with money).

And then the investors are left crying...what a life! 

 

scammed.jpg

Edited by CryptoBry

Share this post


Link to post
Share on other sites
2 hours ago, CryptoBry said:

There are a lot of reasons why we have many scammers taking up their unofficial residence in the world of cryptocurrency. One big factor is the deregulated nature of this industry. I mean anybody can just copy another project, have somebody do the WhitePaper and all the nitty-gritty details, rent somebody's official name to be a part of the project team and advisers, publish a site, do a bounty in BTT and then start getting money from the public...but wait where is the permit? No need for that unless you are accepting money from the ugly Americans. No, of course, they are not ugly am just joking.

Now, after you get at least a million dollars, then make sure that you do something about the road map for at least three months and since that can be difficult you formulate a big excuse like the site is hacked or that you have a cough and you need to go somewhere in the Pacific Ocean (am sure there is an island there that can accept a scammer with money).

And then the investors are left crying...what a life! 

 

scammed.jpg

If It's Regulated, Isn't It Will Be Counterintuitive?

ICO Was Designed To Make People Easier To Crowdfund Their Product. Why ICO Exist If They Still Need Regulations? Regulation Is Also Counterintuitive With The Principle Of Cryptocurrency (Decentralized).

Bad Investor Invest In Bad Project,  Just Accept It.

Share this post


Link to post
Share on other sites
3 hours ago, FireZeus said:

If It's Regulated, Isn't It Will Be Counterintuitive?

ICO Was Designed To Make People Easier To Crowdfund Their Product. Why ICO Exist If They Still Need Regulations? Regulation Is Also Counterintuitive With The Principle Of Cryptocurrency (Decentralized).

Bad Investor Invest In Bad Project,  Just Accept It.

May be we dont need regulation but we need system like smart contract thats investor can control the money and not just the owner of the project, how to do that?😀

Vitalik Buterin proposed a solution made possible by the concept of decentralized finance, something that’s become quite hot throughout the past few months.

He refers to the solution as “public interest projects” and gave the following explanation:

“This is a spin on the ICO idea that I had one and a half years ago. So the idea is, instead of projects having ICOs where people will just send them the money, and they, well, go away, you have a scheme where people put their tokens into a smart contract. […] The developers don’t just have access to the tokens, they can’t take them. Instead what happens is the money gets put in compound, or some other interesting thing […] and then the interest goes to the developers.”

In other words, instead of people blindly trusting a particular project, they’d lock their tokens into a smart contract. That money would then be deployed into a DeFi solution providing a certain interest rate, and that’s how the project would fund its future endeavors.

The idea is rather interesting, mainly because it takes away the risk for investors. Since their money would be locked in a smart contract, this would eliminate the risk of the project’s team disappearing “in Indonesia or something,” as Buterin said.

source:

 

Share this post


Link to post
Share on other sites

Some people without having good knowledge about cryptocurrency only follow trend and try to invest in some project thats have good rating and get scammed, thats sad story

Share this post


Link to post
Share on other sites

in this year is so bad for project token/coin, many scam using fake team,fake whitepaper

Share this post


Link to post
Share on other sites

Because cryptocurrency is anonymous and scammers can easily run away with the funds they have collected from investors. Police and government can't do a lot about it

Share this post


Link to post
Share on other sites

Why, crypto is the best place herfore. Anonym and fast. See 2017, many have invest with closed eyes. 

Share this post


Link to post
Share on other sites

You are right their is always they have excuse the site was hacked and now they are recoveribg it.they gone and the invester lost hafty money or his life long saving .their are ruthless people .their must be strong punishment for this kind of people .but they are also supported by strong peoples thats why they always make money and alip through easily.😔


Get free real and Authentic Crypto free Airdrop from this site.

Share this post


Link to post
Share on other sites

I am on behalf of Regulations, if you link all they were following a rule of transparency, there would no be so many losses for frauds. Are the scams that hinder the acceptance of ICOs by beginners.

The one who saw someone whom it lost for the deceitful ones, is not going to invest.

Share this post


Link to post
Share on other sites

I know there is a many scammer in our cryptocurrency but we cannot  remark it now. Because he was the use our crypto currency any  rules to do his profit. He was the ready to do anything to do his profit but this it the not fault of this currency it is the fault of his humanity but I think  one time anyone can take a solid action when the scammer totally go away in this market. 

Edited by Rounak sarkar

Share this post


Link to post
Share on other sites

Numbers of scammers are growing more and more the jobless are trying to find job for themselves be stealing and hacking people's wealth online which is very bad in that situation

  • Useful or interesting 1

Share this post


Link to post
Share on other sites

Even scammers need to eat as well, and that's why there are so many scams, good thing is you only get to be scammed once then you learn.

Share this post


Link to post
Share on other sites

Where's the need of investment if you can realize it's a copy cat shit and offering nothing new to the crypto community? I wouldn't bother investing any ICO/IEO if I can realize it's offering nothing new.

Share this post


Link to post
Share on other sites

The scam projects now represent the big persentage from ico's 

If ther is 10 ico's you will find just tow or three legit ico's and this is really a bad think for crypto 

Share this post


Link to post
Share on other sites

A lot of people loose money because they are always expecting that the big brother (regulator) keeps them safe and so they do not have to think a lot about what they are doing... well I have news for these... in crypto you are responsible for your finances, for the good and also for the bad decisions...

You need to be as vigilant as possible and research before even thinking about an investment... people come rushing in expecting to be rich on the following day... and it just doesn't work like that... and scammers are waiting for these

of course that some regulations must be put in place, but if these are not evolved enough or just too strikt or detailed, it will kill crypto purpose

Share this post


Link to post
Share on other sites
6 hours ago, driwch1 said:

It's just a new kind of marketing to attract people. in fact, nothing has changed. there are no guarantees. in any case, all responsibility is yours. you need to study everything yourself and not trust the exchanges. Although binance has proven to be the best.

Some people are good but poverty makes them to steal, fraud and scammed people for get what they want and get out of poverty

Share this post


Link to post
Share on other sites
8 hours ago, Dguy said:

Some people are good but poverty makes them to steal, fraud and scammed people for get what they want and get out of poverty

Lack of job and lack of employment leads them to scammed somes is because of selfishness and wickedness they engaged in it

Share this post


Link to post
Share on other sites
On 10/25/2019 at 5:31 AM, Abderrazak19 said:

The scam projects now represent the big persentage from ico's 

If ther is 10 ico's you will find just tow or three legit ico's and this is really a bad think for crypto 

Is equivalent you said all ico is dead because from the example you made 2 from 10 is totally a be lost how can one dictate the good ico

Share this post


Link to post
Share on other sites
On 10/14/2019 at 11:35 PM, pageraji said:

May be we dont need regulation but we need system like smart contract thats investor can control the money and not just the owner of the project, how to do that?

This is akin to self-regulation where the industry itself has some effective systems of check and balance so that bad people (scammers, hackers, phishers, evils) will not be disturbing the peace of the many. If we allow scammers to do anything they want just because we hate regulation that is tantamount to saying it is okay if we have a dead rat under our bed anyway we are wearing a mask.

I always like that idea put forth by Vitalik and I am hoping that can be implemented soon but again the problem without regulation is that everything can be voluntary and no one is enforcing even if all will agree on a certain system. That is human nature, for you. 

Edited by CryptoBry

Share this post


Link to post
Share on other sites

For now there are many scam projects and take advantage of investors and I suggest before investing try research first to avoid scammers

Share this post


Link to post
Share on other sites

Crypto are more than gold. And people are usually get greedy. There are some crypto experts are in the online and they are Freud. They always try to  cheat to other's for getting their crypto. Today's crypto may be the future's asset from this thinking people are doing fraued. That's why so scammers are available. 


Do you know brave is the most crypto friendly browser. There are millions of crypto users only use brave browser because of their security. There are no other browser as secured as brave browser.

Source: https://brave.com/zbm957

Share this post


Link to post
Share on other sites

Because it is possible to create an empty project and earn money. And if this opportunity exists, then they use it. This is a lack of the cryptosphere, permissiveness.

Share this post


Link to post
Share on other sites

Not being regulated by any government is the blessing and the curse of cryptocurrencies. Real investors will get the profits of working free from government taxes and other kind of fees, but there is always a chance that scammers come and get their share of the cake from the honest users.

Share this post


Link to post
Share on other sites

In General, in cryptography really became a lot of scammers and thieves, they Rob wallets and passport data. Most likely, it is profitable for them, because they can easily get passport data, and sell them somewhere - it's very bad!

Share this post


Link to post
Share on other sites

People are bad ... people are very bad in essence. they tend to do things easily if their predisposition shifts to some evil. instead of dealing with human beings, we need to completely cover the gaps in the system and the possibilities to do evil.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...