I mean, is there an exact list of rules that could guarantee that someone who follows them will surely not become a victim of another ICO scam. Of course there are obvious rules like event participation, reputation of team members among ather prifessionals, approve by well-known advisors. But potential scammers also know all these criteria and know what to fake exactly.
Is there a 'blockchain way' to create an algorithm, scheme or set of conditions allowing to recognise and ban scammers? Not government laws way which also good for the market in my opinion.
Would be appreciate a link to an old thread, perhaps I just didn't find it.
UPD Best Advices:
- learn about previous ICO projects, select viable ones and participate similar ICOs
- invest in an ICO with a working prototype only
That's just too naive, avoiding it altogether. You can do solid research, not just jump head in without checking everything out: team, advisors, links, previous experience, if they delivered or not, roadmap. Ultimately they are all a bit scammy by giving themselves v high valuations for startups but that trend is a fad now, the public has realised this and all the moneygrabs will remain unsold. I believe we will see soon how most projects will only get a few millions most projects don't need more than 5-7 mils anyway fwiw considering the stage of their development.