What are scams?

Scam: ( 1 a dishonest scheme; a fraud. 2 a fraudulent or deceptive act or operation)

People seem like to throw this term around a lot in the bitcoin and crypto currency space.  There have been scams, but this is also a Venture Capital area, so there are also failed projects.  These are groups where the people tried, but did not succeed in creating the product or service.  So, for their own good, maybe we should concentrate on small but powerful projects like Protip. Also, never invest more than you are willing to loose as well as splitting your investments up between several projects and companies.

With a new personal ICO, I wonder how much you can be scammed if you are investing a small amount in your cousin.  When your grandmother gets involved will she consider herself scammed when your token value drops or she hasn’t doubled her money in 3 months?

So maybe some of the calls for scams are from disconnected people.  When we were donating to projects and people who we had little communication with.  Then family and friends may be the best people to crowd fund for long term purposes.

I am also reminded of the old saying “Don’t put all of your eggs in one basket”.  Without personal ICOs maybe there are too few baskets out there for us to invest in.  Thus making everyone interested jump on the few that are coming out every week.  The people releasing ICOs could know one whale investor who could be pushing up the market and making others who did not get in jealous.