Sh1tcoins - warning signs

By Gabor | Gabor's Crypto Thoughts | 11 Nov 2020


When browsing Telegram channels of different blockchain projects, there are typically three type of messages

1) Constructive discussions about the coin/token/technology

This is in minority, and usually between 2-3 people maximum. For deep conversations and questions, there are other channels usually. 

2) Meaningless greetings

Lot more of these.
Good morning, Good morning, GIF, Good morning, Good morning.... 
Hundreds of these messages, completely waste of space without actual conversation. 

3) Scammers/ Trolls /Bots

"You gotta buy XYZ token, it's going to the moon", "Someone scammed me, can anybody help?", "Is there an admin here, I have a business proposal". While in active groups these are getting deleted, there are lots of groups where these messages overtake. That's a huge warning sign for either the project being dead or being a scam project. 

I am a little bit cautious picking an actual project, but let's see this example (removed the token name). 
This project has a pretty nice website, so if someone would have given it to me, I would be pretty happy to invest (unless I do my homework). 

Their Telegram channel:
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Also, if you can and it's available, have a look at the project's Github page. While there are services where you can check social media / development activity, I like to look at the actual page.
In this particular token, there is a public Github page, which actually has some code...
A pretty stock standard Solidity contract without any actual logic in it - also as I highlighted it's a pretty old version. 
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Feels like someone copy pasted from somewhere else and didn't even bother doing some development. 

There is no guarantee that I am 100% right here. This project might still be alive and they might work on something in the background.

But before you invest and listen to the "experts" in the Telegram channel, who say that this coin/token will "go to the moon", do your own research and only invest into projects that you actually believe in. 

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Gabor
Gabor

I started with crypto like lot of the other people. Heard it's great, didn't do anything until the big pump late 2017, then bought all kinds of alts that lost 90+% of their value in a few months. But then I realised how much potential there is truly...


Gabor's Crypto Thoughts
Gabor's Crypto Thoughts

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