After getting rugged (twice), I’ve started developing my own personal checklist to spot red flags in new altcoin projects. Here are a few I now take seriously:
Team not doxxed: If there’s no face, it’s a risk.
No GitHub activity: A “project” with no code is a meme, not a coin.
90%+ tokens held by insiders or devs: Obvious exit trap.
Whitepaper is vague or just buzzwords.
No clear revenue model: If it doesn’t generate value, it won’t last.
Just wanted to throw this out there for discussion: What are some of your “dealbreaker” red flags when it comes to altcoins?
If you don't get in at the very bottom you set yourself up. If there is a premine and no trusted parties you can get rugged at the bottom. You see it's all a game. Then you have outside investors who can buy up and pump and wreck the project. It's like a double edged sword in the altcoin game. At this point if nothing is pushing Bitcoin it's likely a scam. How the hell is any of these altcoins worth a dollar?
Don't care if it has a whitepaper or green paper how is it worth a penny? It's a risky game I'm telling you. Most of these altcoins should be worth nothing untill a community shows up or it hits the streets. Where's the product?