Quote from: bololord on February 12, 2018, 01:02:34 PM

Quote from: VladWulf on February 06, 2018, 05:23:52 PM

Hey there,

I am a blockchain developer and most of my work consists in auditing Blockchain projects, criticising their use-case and proposing solutions and guidances.
What really kills me is the amount of scams and useless projects based on economic scarcity, fomo and proof of stupidity (https://www.youtube.com/watch?v=p1ZYGuJXBQE)

The reasons why we have to fight scams are fairly simple:
- Scams attract regulators
- More scams attract more scammers
- People invest blindly but if given the change to understand a project based on a professional analysis I'm sure many will think twice between sending those guys money.
- You know what is worse than exit scams? Shell projects that never get finished or have no traffic because their use case is pure BS.

I propose listing all the ICO scams here that can't correctly justify their use case, presumably scams:

* EQUI https://bitcointalk.org/index.php?topic=2888110.0
The guys weren't able to justify the use of their token and don't answer to critics and questions. More importantly they provide a passive return on investment which fails the Howey test (http://consumer.findlaw.com/securities-law/what-is-the-howey-test.html). They use their public image in order to attract suckers. Based on their use of proceeds they reserve 30% in order to develop the platform. 30% of 72 million to develop a react website with a postgres database and link it to infura (i assume they didn't even think about that). Laughable at best.

To all scammer they need to report immedietly so that it wont happened again. Its not fair to Us that they are just getting money from Us who actually dont work for it. Sad to say scammers are spreading out . And as we liable to our own accout we need to be aware with someone .

There will be no scammer if there is no person that will let the scammers to scam them. It means that we should be knowledgeable in order to avoid scams because as the people are being vulnerable and allowing the scammers to steal some money from their wallet then the more the scammers will spread out. It should be starting from us to get some knowledge to be able to reduce or possibly stop scammers.