Avoiding being scammed in ICO “pump-and-dump” schemes
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Avoiding being scammed in ICO “pump-and-dump” schemes
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Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#2I wonder if there is an opportunity here for an unbiased certification process that ICO founders can request. Sort of like a Morningstar rating.
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#3The worst schemes are the "Oh No, we've been hacked during our ICO, stop sending those 'other people' your money!"
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#4How to avoid being scammed: completely ignore the world of "coins" and other nonsense.
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#5I wonder if there is an opportunity here for an unbiased certification process that ICO founders can request. Sort of like a Morningstar rating.
"Our startup promises blockchain-based certification process for blockchain-based platforms, offering security for [insert some more bla bla here]"...
Not calling Morningstar scammers, but they also have millions in revenue...
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#6This is becoming more of a problem. That's why I only stick to mining certain coins.
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#7I wonder if there is an opportunity here for an unbiased certification process that ICO founders can request. Sort of like a Morningstar rating.
There is http://icorating.com/ , and I know there is at least another one I can't remember the name of.
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#8A pump-and-dump scheme drives the price up by promoting the commodity only to allow insiders who bought it earlier to sell when the price peeks just before the the price plunges again.
You can easily see it in penny-stocks and/or OTC-stocks. The price stays flat, then peaks, then crashes to about the pre pump-and-dump price.
I haven't seen such a behaviour in any of the new coins. Does anyone have an example or link to a chart?
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#9A pump-and-dump scheme drives the price up by promoting the commodity only to allow insiders who bought it earlier to sell when the price peeks just before the the price plunges again. You can easily see it in penny-stocks and/or OTC-stocks. The price stays flat, then peaks, then crashes to about the pre pump-and-dump price. I haven't seen such a behaviour in any of the new coins. Does anyone have an example or link…
My understanding of ICOs is that the insiders don't necessarily need to dump, which makes it even better for the pump-and-dump sort of scam.
Re: Avoiding being scammed in ICO “pump-and-dump” schemes
#10How to avoid being scammed: completely ignore the world of "coins" and other nonsense.
Well, you can't avoid participating in the Game of Life.