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RE: How to Identify ICO Scams

in #scam-ico7 years ago (edited)

You have put together an excellent list of questions for any serious investor. Unfortunately the reality is that most investors don't have the skills to critically analyze the offers. The evidence is in the tens of millions being raised, as we speak, for coins which promise virtually nothing.

It's a very fine line between outright scams and ICOs which are not even investments.

Have a look at the blog I wrote about a token offering currently in progress:

https://steemit.com/ico/@swissclive/initial-coin-offerings-often-you-are-buying-thin-air-i-e-nothing-at-all

I pointed out to a couple of the Steemit bloggers who were promoting this one that the investment merits didn't exist. I suffered some serious abuse, down votes and flags from the promoters on a number of my posts in what was a revenge attack.

You can see an example revenge attack here:

https://steemit.com/crypto/@cryptonewz/domraider-decentralized-blockchain-auctions-in-real-time-review#@cryptonewz/re-swissclive-re-cryptonewz-domraider-decentralized-blockchain-auctions-in-real-time-review-20170926t075342491z

I decided not to reply to the abuse nor flag it. No point in war. I will just move on and let the blogger lose all his money.