Warning About Scammers!
Scammers and scams, the product of their evil, self-serving thinking, have no favorites, other than the weak or unsuspecting. They will always search for easy opportunities, be interested in areas where they can easily disguise as legitimate businesses and entrepreneurs, or crowded and euphoric places, where many act first and are sorry later.
Other than that, their devious schemes can unfold just as well offline and online, localized or world-wide, using fiat, commodities, or the newest hot thing, crypto.
We entered a new stage in the world evolution, when developments happen rapidly, in many directions, and at increasing speed.
Unfortunately scammers are among the first to adapt to changes, because they find fertile ground to attack markets, organizations and people who haven't had time to put things together thinking to all the little details.
I read a post today by @brandonfrye, who ran an experiment trying to see how easy it would be to create your own token. He created his own token on Etherium's testnet by following a tutorial, in about 15 minutes. And he has no coding experience.
To create a token on Etherium's mainnet, one would need some Etherium to back it up, but from my understanding, the process wouldn't be much different. Relatively simple should be to create an ICO too.
With these in mind, and knowing there is already a history of worthless coins and tokens, we should be really careful where we spend our hard earned money, may that be fiat or crypto.
Even more, on the verge of SMT release and after that on the Steem blockchain, there are and will be sooo many projects that promise the moon or look awesome... in words. But your Steem, Steem Power and SBD is hard earned over most likely many months, or even years. Make sure you don't waste them with a simple transaction, because in them there's value, current and future. You should also be very careful about the safety of your Steem account.
Sure, new epic projects can rise and need support while they are being developed. But try to make sure it's more than words behind such a project, it's something you really want to be part of and it will benefit you too (or a community you are part of or which you would like to offer help to grow).
Hopefully this makes sense for you!
Smart media tokens will change (and to some extent is changing) a lot the Steem ecosystem. So we (will) have many new things around. It's inevitable some scams and scammers will try to benefit too, as they already do with some Etherium ERC-20 tokens, and probably will with some EOS tokens too.
Stay informed, stay safe and steem on!
You really point out an important aspect of creating fake tokens and by enlightening people of the various ways scammers operate by creating their own scam tokens using Ethereum ERC-20 wallet , alot of these scam tokens have being created that has defrauded alot of people and more is even been created for different worthless projects. I will be very careful of future tokens coming through EOS blockchain and SMT because these scammers will definately take advantage of these blockchain in other to carry out their evil and criminal acts @gadrian
When something is at the beginning, scammers will flock, so serious people will need to be extra careful before the business / market / ecosystem matures and develops the mechanisms to deal with various forms of scamming and abuse. Thanks for your comments @obest!
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