This is a short list of phrases that when used in conjunction with a cryptocurrency should raise giant red flags. they aren't all scams but think about each one carefully.
"Big things are happening"
Translation: Nothing is happening and we have nothing to write about. so if we tell you big things are happening maybe you will believe us and go away for a day because you think we are working hard. The reality is we are "hardly working". There is probably also no road-map to work against either.
"We are not releasing the name of the Devs to protect them"
Translation: We have no devs, we don't want to hire devs, or were known to not pay our devs. No one is really interested in advancing this coin. If we tell you were protecting them we don't have to make up fake name. Since when did Dev's need protecting, allow them to use a pseudo.
"We have investors"
Translation: No one has invested. But by telling you this maybe we can convince you to donate money that we can keep because we have no devs, no roadmap and no technical skills. If you had an investor wouldn't they be interested in a certain aspect, maybe a use for the coin, an app, a site, something?
"Trust Me/Us"
Translation: Don't trust us. We have to tell you to trust us because your gut instinct is telling you not too.
These are all common comments to identify a scam coin. Keep your money safe!
--IceBurst
This made me think of wcex.co... these guys ran the presale for months. They kept pushing the real ICO forward. When people got upset in the forum they shut down the forums.
They refused to name devs claiming to protect their identities. It is actually quite entertaining to read through the forum posts. You hit the nail on the head with this post!
If I had a buck for every time I hear "to the moon", well I'd have a lot of bucks
This one made me laugh because of something I said the other day in response, "It does appear your headed to the moon, too bad your on the Challenger Shuttle."
https://en.wikipedia.org/wiki/Space_Shuttle_Challenger_disaster
Too soon? Hehe
No Trust?
Don't INVEST ;)
"Invest 0nly What You Can Afford To L0se"
Good info, thank you.
If I save even 1 person 1 dollar by writing this I feel as though I have done my good deed for the day.
thanks for your great advice we will look into it
This submission has made it on the @MutuWhale MutuList!
frauds and scam are everywhere in every field but there are also some one like you keep the community aware about such info on scams. i also like your way of explaining things point by point @iceburst
You are so right my friend!
I recenly listened to a podcast from one of the top 25 altcoins (not name dropping lol), and they kept saying "big things are happening" and "we can't tell you which companies we are working with" and "the marketing folks are comming up with big campaigns".
Man people need a wake-up-call once in a while.
Thanks for giving me a laugh, although it was on a sad basis :)
Laughter is good for the soul no matter the source.
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