shuttershades
Senior Member
- Oct 26, 2013
- 909
- 515
What do you think guys?
BEBOP is the next Squid Scam?
- Thread starter shuttershades
- Start date
getseoonline
Banned - Multiple Rules Violations
- Jun 5, 2012
- 1,563
- 826
Another shite coin but to the people who got in and made profit nice play
shadow2015
Regular Member
- Jan 17, 2015
- 407
- 106
agree, if you can figure out when to get out that would be + point
blackbeans
Elite Member
- Nov 29, 2008
- 9,247
- 4,806
Well, don’t focus on one token in determining whether it's a scam or not.
It’s better to pay attention to key red flags that can determine if a token is a rug pull candidate or not.
The first thing that you should look at is the number of wallets that own the tokens.
If more than 33% to 50% is stored in one wallet that is not in exchange, you should be suspicious.
This can mean that at any time that account can dry up whatever built-up liquidity the token has managed to build.
This has happened many times before.
A lot of those people who lost their money could've easily prevented themselves from being financially raped by paying attention to the number of tokens being held by how many hands.
Another indicator of a token is the actual use case.
Did people just come up with this token because it's some sort of meme?
Or, is there an actual use for it?
Maybe there is a platform that people buy and sell services for that use this token.
Is it intended for a certain industry?
Another thing you should look at is where it's being promoted.
If you noticed that a token is being shilled primarily through Telegram groups or, worse yet, Twitter, that's definitely a red flag.
But if you see legit industry press releases about the token and it's tied to some real use case, then you have stronger legs to stand on.
Finally, you should pay close attention if the token is an actual instrument of existing transactions within an industry or an online activity.
Otherwise, it's just basically being positioned for speculation purposes.
You know this is the case when boosters or people trying to shill the token will tell you that it's going to go 50x or100x or it's the next Sheba Inu.
Be very suspicious about the hype.
Finally, even if one or two of the factors above are present in the token you are looking at, it doesn't necessarily mean that it's a flat-out scam.
It could still be legit.
You just have to look at the big picture.
It’s better to pay attention to key red flags that can determine if a token is a rug pull candidate or not.
The first thing that you should look at is the number of wallets that own the tokens.
If more than 33% to 50% is stored in one wallet that is not in exchange, you should be suspicious.
This can mean that at any time that account can dry up whatever built-up liquidity the token has managed to build.
This has happened many times before.
A lot of those people who lost their money could've easily prevented themselves from being financially raped by paying attention to the number of tokens being held by how many hands.
Another indicator of a token is the actual use case.
Did people just come up with this token because it's some sort of meme?
Or, is there an actual use for it?
Maybe there is a platform that people buy and sell services for that use this token.
Is it intended for a certain industry?
Another thing you should look at is where it's being promoted.
If you noticed that a token is being shilled primarily through Telegram groups or, worse yet, Twitter, that's definitely a red flag.
But if you see legit industry press releases about the token and it's tied to some real use case, then you have stronger legs to stand on.
Finally, you should pay close attention if the token is an actual instrument of existing transactions within an industry or an online activity.
Otherwise, it's just basically being positioned for speculation purposes.
You know this is the case when boosters or people trying to shill the token will tell you that it's going to go 50x or100x or it's the next Sheba Inu.
Be very suspicious about the hype.
Finally, even if one or two of the factors above are present in the token you are looking at, it doesn't necessarily mean that it's a flat-out scam.
It could still be legit.
You just have to look at the big picture.