ICO Scams 2018 - Programmer explains

by: Ivan on Tech

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what is going on guys welcome back to my channel and today we're going to talk about ICO scam red flags namely how you can develop your own feeling your own sense and intuition when it comes to deciding whether an ICO is legit or whether an ICO is a scam unfortunately we see many scams in our space we see many scams when it comes to a cos when it comes to blockchain projects in general and this is for several reasons one reason is because we have many new investors joining the field many new investors who aren't aware about blockchain about cryptocurrencies they don't really understand how it works they are only learning but they are interested and so they try to invest in an ICO and of course if you are knowledgeable and you are investing if you have experience and you are investing it is harder to trick you but if you're just new if you're just starting out you might become a victim in you're vulnerable to scams just because you lack all the knowledge that you need in order to be more prepared and it is natural everyone has been a new person in the field at one point in time but it is important to educate yourself and this is why I'm making this video because I feel that I want to share my views and some metrics with you that I use whenever I evaluate icos whenever I look at blockchain projects and the share also some things that really turn me off if I see them in an SEO or a new blockchain venture and that being said guys let's get into it and talk about a CEO scam red flags one of the biggest red flags for me is when a team is anonymous and you should always try to find out exactly who is behind the certain project you are interested in and always try to find out the company behind the project and always try to find out the address of the company because if they are transparent why shouldn't they share their address are they afraid to share the address why also the names I want to know exactly who is the CEO who is the CTO and so on and so forth there is no reason to not share the names also sometimes I try to reach out to the team try to get on skype or on telegram and try to talk directly to the founders because it is one thing to read about the project on their website to read on the whole marketing effort they're making and to get the information from there and it's a whole other thing to talk to the founders to talk to the founders directly about the same things that are said in the marketing websites on the white paper and so on and so forth but you get a whole different perspective when you hear it from the founders and you can develop your own gut feeling when it comes to missing people in person and seeing them I in the eyes if for example if you do a Skype call so try to get on skype try to meet them try to talk to them find out their address find out their company name and if you have trouble doing these things then it is a red flag because they should be transparent they're raising millions and millions of dollars there is no reason why they shouldn't share this information so anonymous team is a big turn-off try to find out as much as you can the second red flag I want to share with you is all about the white paper namely if you read the white paper and it is extremely weight you do not see exactly how this is going to be implemented you do not see any in-depth explanations you do not see any details about the project and so on and so forth something we have to realize is the discovers in many cases are not engineers they do not care about blockchain they do not care about the centralization they do not care about the technical implementation and so on and so forth they only want the white paper that looks legit that looks like it is a good project but it really isn't and if you're not careful and you read the white paper it might sound good to you but be critical and look for details demand details and try to find out exactly how they're going to implement it and if you cannot see it in the white paper try to reach out and make sure that the founders themselves know what they're doing is it only an idea or can they actually implement it because the blockchain project without any implementation and only an idea is worthless ideas are really worthless it's all about the implementation so if the white paper is vague you have a hard time contacting the founders and getting details on the white paper it is a red flag and you should be careful the next red flag has to do with community namely if you see no community you go to Beto and talk forum you go to telegram you go to slide and you see very little activity it is worrying why is it worrying well because if a project has a huge community and many people are asking questions many people are wondering things many people are engaging with the founders it means that the project has some kind of responsibility I mean if you have so many people in your community and they're all curious and they all know a bit about you they all know your address of your company they all know exactly where you live they all know your name it might be harder to scan it might be hard to scan because now we have thousands and thousands of people who know so much about you so if the founders are anonymous and there is no community this is a huge red flag even if the founders are not anonymous but there is no community it is also red flag because I personally want to see that many people are in this many people are engaged in this many people know who the founders are many people know what the ico is about and what is the company behind the ico and so on and so forth so I hope you see where I'm going with this if there is a lot of community if there is a lot of people who are interested in this project if there is a higher chance that more people will take some kind of legal action or pursue the scammers if this ICO turns out to be a scam so a large community of course makes me personally feel more safe the third website has to do with github activity namely when you try to find out exactly how the project is moving forward when it comes to coding when it comes to actual implementation of the idea you go to github and you see no activity at all it is a red flag because the scammers would most probably not spend a lot of energy on actually coding because they know that people will most likely not check it hub most people do not check it up and it is extremely important to do so so that you are aware and you are not fooled by just a nice white paper always check github now in many cases you have ice that haven't even started to code and this is of course making this whole investment more risky and you ideally want i ce o--'s who have some kind of github activity who can show you that look we're pushing each and every single day we have this coder here he is good at this and this and this well the second coder here he's good at this and this and this and they're all working all the time so check github activity and on this channel we check github I teach you how to check github so subscribe to the channel if you haven't yet finally I want to bring to your attention a phenomenon we will see more and more in the SEO space namely that scammers are creating fake SEO websites the reason why I think this will accelerate in 2018 and what I think this will be a trend for scammers this year is because we will see more and more established businesses doing icos for example you see telegram doing an IC o---- and you already see fake SEO websites claiming to be the telegram ICO taking people's money and if we see more and more established companies doing NGOs but will only see more and more of such websites because the scammers know that they can use these big names in order to attract people and most people will be extremely uncared for they will not check everything when it comes to the website they will not check the SSL certificate and this is what I want to really really advise you to do when you're investing in an IC o---- click on the little lock button on the top next to the domain name because if you check the SSL certificate you know who is behind the website you know that the website is coming from the company that you are investing in and if you're just on the website and they do not have this little SSL certificate lock and when you click on the lock you see some random business name that is not the company you want to invest in you should be extremely careful guys so I hope you learn something I hope you now have a better feeling for what is a good project what is a bad project and I hope you are more aware guess it's all about awareness it's all about knowledge it's all about being as careful as possible so thank you so much for watching guys smash the like button smash the bell button so that you're always up to date and if you are a new viewer you should definitely subscribe to this channel because you will find this channel useful I myself am a software developer and I'll see you

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Today we're going to talk about how you can screen ICOs and decide wether they are potential scams or not. I want to share some metrics I usually use myself and things that turn me off in ICOs. ICO scams are very common and will only become more common as the crypto industry grows. I hope this video will help and enlighten people - share it with your friends and family who are new to crypto but are eager to learn. Enjoy guys! Thanks for watching guys πŸ’ πŸŽ“ Join my online academy https://academy.ivanontech.com

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DISCLAIMER: This is NOT financial advice. This is just my opinions. I am not responsible for any investment decisions that you choose to make. Ivan on Tech by Ivan Liljeqvist
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