Fake Advisers, Fake Entrants and Fake Startups with their Fake ICO are what I have to face every day as the founder of the DENTALFIX Startup Blocker in the process of our ICO.
I decided to write about this, since I did not see any information on similar topics and only the founders or project managers are faced with it.
Perhaps this will save your money or at least increase literacy in the choice of ICO project for investment.
Fake Advisors
Often from my acquaintances and outside investors, I hear the question "Who do you have as an Advisor and do you have it at all?".
Adviser - in English means Advisor. How much I understand the meaning of this term is an official who takes part in the formation and decision-making of a leader.
So, the truth is that most projects on the network invite to the position of Fake Advocates. Here is just one example from the request to me via linkedIn on the topic "Become our Adviser".
As you can see, in the first message they offer $ 50-70 thousand of your (investor's) money for the role of Adviser. To my question about "How do you choose Advisers" I never received an answer. Just join the group, man!
And there are 3575 such "Advisers" in the group.
I hope that my understanding of the processes in this project is incorrect. But this will only show the time.
Fake Members
This is the next category of Fake Startup participants. No, I'm not talking about Bounty programs, they have a definite meaning, if you do it wisely.
I'm talking about such proposals, which I am sure receive all the owners of the branches on the Blochein forums: It is
specifically offered here for money and fake users to keep the topic at the top of the branch, artificially raising attention to it. This creates a semblance of interest from other users.
And this is just one example. How to learn to distinguish fake commentators from real ones - just getting into the essence of written and studying the history of user messages (which is openly available on the Bitcointalk forum)
How to distinguish a Fake ICO or at least increase your chances of success from an investment?
1 - do not be lazy to do a deep drawing of the ICO project. Google to help you
2 - learn the history of all project participants , especially the founders:
If this is their first business project : this is a very high risk;
If their team did not work together before: this is a very high risk, that with the first difficulties this story will fall apart;
Do not be afraid to ask the founders about it. Their contacts are usually available.
If the contacts and the real social network of the founders have the appearance of newly created ones : this is a very high risk.
3 - Every business has a product and a buyer. Try to take a sober look at the project and the company's product:
What exactly will the company sell and to whom?
Who will eventually buy ( pay real money ) from this company its product and why?
Does the product solve the pain of the client, for which the latter is willing to pay?
If you have a question , write in the comments, in our official thread https://bitcointalk.org/index.php?topic=2547213 . or in a personal telegraph https://t.me/dbl_ss