Blog: Tips & Tricks

How will you recognize a scam?

It is hard to say for sure sometimes. And if you take time and do a little more in-depth analysis, you might find something. But most important – DO NOT JUDGE just by a quick look!

A couple of days ago a friend of a friend said that while viewing my Q&A videos, it seemed like a scam. I approached him and asked why does he feel this way, he answered: “Because your videos are so unprofessionally produced. ”

PalmaDEMO Alpha – learning tool for real time data trading

Live Q&A with our CEO Jernej: mobile risk-free learning on real time data trading – launch of PalmaDEMO Apha ❤️

Objavil/a PalmaBot dne Četrtek, 12. september 2019

I somehow got relieved after this statement, because I am aware about the quality of our videos and would like to make a statement why is it so before I go into more details about the “Scam topic”:

  • all 3 co-founders of PalmaBot 100% agreed that we will not invest into marketing until we have a working product (contra the ICO strategy) – so, if you think we are scam, try PalmaBot first – LINK
  • as a marketing guy I must agree, that it is not OK to have a video this bad quality, but as a startup expert, I must say that nothing is perfect if you want to do it optimized way! And since this videos are meant for anybody that would like to ask something about PalmaBot or want to know more about what we are doing besides developing PalmaBot, this should work until we start earning (Billing with referral and invite system with PalmaBonus launch at the beginning of November 2019)
  • nevertheless, we have nothing to hide, our existing users are happy with PalmaBot and we intend to keep it this way – and if you think we are scam, contact me directly on Telegram, I will gladly discuss your reasons, my username: @DistrictBC

 

When / why do I need this?

We are in era of lightning fast technical development – the world has never seen such a speed in sense of technological evolution based on community lead organizations.

So, even before ICO era, at the beginning of the internet revolution, we were able to see many scams sucking peoples money with the owners running away to some exotic islands leaving investors empty handed. And if we go a little bit more into the history, scams are nothing new actually, it is just that the proportions were a lot smaller before the globally accessible internet projects.

There are as well different types of scams according to what is stolen from victims:

  • money
  • personal data
  • key to access valuable data, things or money
  • identity

But what history scams have in common with nowadays scams? People!

  • love quick earnings
  • like to take risks if it is easy money
  • like to believe things that look nice and beautiful (maybe it is better we have an ugly video production! Joke 😉

I did a test – I was asking random friends about 2 projects, one was a cutting edge technology (hard to understand) project and the other was scam. Guess what, 7 out of 10 people would invest into scam!

 

How can I do this?

In this article I will focus on typical scams after the internet revolution and such where thefts steal money. So, let me give you some examples:

  • Email scams – this one you all probably heard of or were victims of it already. Usually a guy from south Africa is writing to you in a long email (yes, they take time and write nice long emails, trying to be as convincing as possible) where they write you long lived relative died in a car crash (or something) and you are the only relative found.
  • Scam ICOs – in the era of ICOs, scams are biggest in history of mankind. The blockchain revolution with it’s trustless environment and Bitcoin billionaires made even more people believe in projects that had promises and nice websites. But if you do a research on who are people within the project’s team on the website and check out their background, plus check what others are writing about it (here make sure you check the source media thoroughly), you should quickly get the feeling whether you should continue to research more or see that it is a scam.
  • Scam bots – with the development of bot platforms, with Telegram app being the most developed one, many scam bots appeared. What they usually do is tell you they will automate some process (e.g.: trading, investing, or other) and try to convince you to send them money or give them your wallet keys. Especially with new technology in hands of low knowledgeable users the percentage of people becoming victims was fairly high.

What all scams have in common and how to do a quick research via internet (DYOR – Do Your Own Research!):

  • Reaching strategy of all scams – they don’t target, they just try to reach as many people as possible knowing that 1% will fall for it. So, if you encounter something suspicious, just search for title or topic keywords in google and add scam to it (e.g.: “ICO on bla-bla scam”). The rest is up to you – read top 10 hits!
  • They all promise quick and (almost) automated profit! Again, use google and do your own research!
  • Their website looks really nice and perfect with a very nice story telling how everything is perfect on this world. Trust me, these are all parameters buyers psychology teaches about and those who want to sell something are very well aware how to use this knowledge. But if you go a little bit more into details – sometimes even a click onto a subpage might reveal everything (if subpage looks messy and not so nice any more – design and text wise), you might quickly find out you are on a scams website.

What I must add though, for the end of this blog post – there are as well some projects that were not intended to be scams since the beginning of the project. Sometimes the team encounters problems (legally, technically, …) that were not foreseen, then it is not scam we are talking about – then it is just another project that did not succeed. And you know it is – nothing is guaranteed! Or, guarantee is an illusion!

Good luck!

 

 

💛 To learn more about my commands, please:

  • write /help to me in Telegram or
  • click “Commands” button below chat window in Telegram or
  • post the question within our community group on Telegram: https://t.me/PalmaBotCommunity

 

💛 To read more about financial markets, check my Medium blog, click below:

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