It sickens mij to increasingly see the sad state of ICO’s and fundraising within the community. While Bitcoin and decentralized currencies have bought along with it the power to remit across borders and garner the power to invest and buy into emerging projects that may seem interesting, it has also enabled sick minds to lot off the guiltless with little to no consequences. While I align with the freemarket’s principal’s that investments should be made open to anyone and those who do not conduct their due research would eventually lose out, I am not ter sync with the sheer amount of scams that have happened ter the latest past. This postbode of mine is a go after up postbode to a previous thread where I explained why ICO’s have become a get rich quick scheme for a select few.
Today, I’ll be talking of how the people behind ICO’s reach their goals.
Step 1 : Buy lots of shill accounts.
Before an ICO occurs, people often buy ten to thirty aged accounts within the forum. If you observe our marketplace, this is a market te itself. I know of individuals that have payed upto 500 USD for 20 aged accounts. The pricing may vary anywhere inbetween Five to 100 depending on the age of the account, quality of the postbode and the trust it holds. Thesis shill accounts are often hacked and/or created by a single individual for the purpose of selling. Shilling lies at the heart of most ICO’s spil they are used to manipulate investor sentiments. Additionally, they are used to argue against individuals that speak out against ICO’s. Consider a situation where an individual explains that the business specimen makes no sense. The founders of the ICO go behind shill accounts and talk ter order to manipulate the markets and persuade investors that the state of things are different.
Step Two: Warm the shill accounts.
Since it has become normal for people to look up the accounts that postbode a loterijlot ter certain ICO’s, scammers warm thesis accounts with the intent of making them look legitimate. They start making random posts ter random pages to pack the very first “posts” pagina of the shill. The psychology behind this is that most individuals often look only at pagina 1 of the shill’s posts and make their decisions. When they see frequent posts te other pages they believe this might be a legitimate account. Spil a matter of fact, ICO’s are often held by individuals that have bot here for years and know a fair amount about other projects. So they do not find it difficult to go behind a shill account and start posting things that might not be considered spam.
Step Three: Buy Four major hero accounts.
Thesis accounts are usually used spil the “founders” of the project and portrayed to be the leads. Thesis accounts are fronted spil marketing, business, developer and so on to make it look like there is a real time te place. Te some cases a single person plays all thesis persona ter their slagroom. This is sickening because most investors think they have an actual team they are investing into but te most cases thesis are fake id’s and/or non existent people. Often, you will notice thesis fake accounts make elaborate posts about the industry and hype the thread. What’s funny about thesis persona’s would be the fact that you will almost never see a common listig or previous projects the team has worked on prior to the ICO
Step Four : Graphics and fancy threads.
This is where the scammer basically hires a GFX specialist and pays him 100 dollars to make a truly fancy thread. He will also set up truly manipulative terms that will make you invest more than what is most likely within your budget. For example — higher profit margins or dividends for buying x amount of Bitcoin. Keep ter mind, this is entirely a psychological spel. While some of the larger ICO”s that run ter the million dollar range have on-board GFX specialists to keep releasing fresh infographics, most of thesis scammers do a one time payment of a duo hundred dollars and get done with graphics. Keep te mind, thesis guys are not looking to set a fresh record for fund raising. They are looking to raise around 100–500,000 dollars and then get done with it. Ter a lotsbestemming of cases they wish to be large enough to make it worth their efforts but petite enough to not attract attention.
Step Four : End of ICO
This is where majority of the investments come te place. With a prototype te place and the shilling accounts going wild most people send ter money spil they believe they are now closer to an ICO. Most ICO’s see about 60–70 procent of the funds come around the end of the ICO. This is driven by Two things
Fear of Missing out or FOMO spil some call it. Investors think its a good idea to buy te towards the end of the ICO to either hold or sell spil the prices go spil the coins get listed te public markets. Most scammer coins list themselves te select markets to help them manipulate markets (more on this zometeen)
A good amount of the ICO amount is bitcoin that the devs send ter to make the ICO look legit. For example, if an ICO already has about 60 BTC te “investments” — then odds are high it will manage to raise another 100–200 Bitcoin. A good way to see if this occurs is to verify if all of the investment funds go to a single verifiable account. A good number of ICO’s here have numerous investment BTC wallet account — you are free to make your conclusion. Also keep te mind, the dev is able to manipulate the markets with this “investment” of his. If this ICO managed to raise 240 Btc — then 25 procent of the coins + whatever dev fund exists goes into the pockets of the dev. This is an ample amount to manipulate the markets
Step Five : Fantasies and Marketlisting
This is where the Dev would bring te massive hype and start listing the coin on 1 or Two exchanges tops. Ter some cases he would have bots placing hundreds of orders te the order books and cancelling them or buying and selling into his own orders to fake the volume of the coin. Again, this fudging is done te order to display there is actual request for the coin. He uses manipulation of the books to bring the prices to the highest possible price and then liquidates the coins he holds te the process. During this period he acquires spil many Bitcoins spil he possibly could within a brief period of time. Ideally, he also takes a lil’ pauze to recover from all the work done during the ICO — then comes back to the hype cycle.
Step 6: Crash, burn and repeat.
During the crash phase the shills go silent, the dev dissapears and all of a unexpected the dev realizes he has a real life to maintain too. A number of excuses and delays speelpop up leading to the community losing faith ter the coin. Massive dumps start happening and the price of the coin falls crazily. Investors that bought ter with hopes of doubling their contant often sell at a loss. All this, while the Dev stands back and witnesses the vertoning. Keep te mind he is well stacked with Bitcoin at this point of time. He holds back news and ensures there is no hype with the shills going silent. Spil the market crashes he will buy back the coins and hold them ter numerous wallets. Once this happens he will terugwedstrijd explaining where wasgoed all the while and have the shills switch investor sentiment to positive.
There you go guys — 6 steps to making 100,000 USD a month.
Think this is a joke ? I’ll be cracking down each one of thesis steps mentioned and correlating them with ICO’s ter my next postbode. I know this might seem like a “noob” postbode to many on here but sadly — this is not for people who think so. This postbode wasgoed made for the sake of the enthusiast who read of Bitcoin somewhere and began digging up on it and stumbled on the forum, for that student who’s waterput te his tution money thinking he will make some profit and live a life of convenience for a while, for the dad who’s spent more than he can afford to lose te the ICO’s here.
My next postbode will correlate existing ICO’s with the steps mentioned here.
Have an ICO you wish to have investigated ? Postbode here with linksom to them.