Finance and Economics > Investing and Saving

Protect yourself from indiegogo and kickstarter frauds

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iam4liberty:
Just a friendly reminder to be careful investing your hard earned money on indiegogo and kickstarter items.  There are many out there preying on preppers by raising money for devices promising impossible results.  We have a lot of talented people on the forum and think we should be proud of the job done separating the wheat from the chaff.  For example, we showed how gotenna was viable (it got delivered on time to great reviews) and gravitylight was not (it had poor performance even being rejected by trial users in 3rd world and quickly closed down).  But the amount of fraudulent ones keep growing. 

An example is the fontus self-filling water bottle which got a lot of preppers excited. This video provides a detailed analysis of how these scams play out: https://www.youtube.com/watch?v=lYFH_bXM5gU

One key indicator is that if it is heavily promoted in the mainstream media as solving a world crisis (energy, water, poverty) it is probably a scam trying to hit emotional triggers.  Before supporting, it may be worthwhile to send a question to the TSP experts or post on a forum. 

Just remember, if they dont deliver you dont get a refund!

iam4liberty:
As another example here is a funny rant video showing how in a few hours gravitylight specs were exceeded using old bicycle parts::https://youtu.be/0UoERSKi7-Q

Yet, they are are back again dipping into another $121k: https://www.indiegogo.com/projects/nowlight-the-next-generation-gravitylight-camping-design#/comments

Mr. Bill:
A few of these get covered on the Metabunk forum, mostly in this section:

https://www.metabunk.org/science-and-pseudoscience.f4/

Here's a Metabunk thread about the Fontus:

https://www.metabunk.org/fontus-self-filling-water-bottle-indiegogo-scam-campaign.t7495/

Mr. Bill:
Here's another project currently raising funds on Indiegogo:

DELTA LAMBDA: Fit 1000 Times More Data on Devices
A Compression Software Revolution, Expanding Any Device's Data Storage a Hundredfold Above the Cloud

(I'm intentionally omitting the link because I don't want to improve their search engine ranking, but search on "delta lambda compression" and you'll find it.)

They claim to have a new data compression algorithm that will reduce the size of files by 1000-fold, even already-compressed data such as Blu-Ray movies.  This is mathematically impossible.

https://www.metabunk.org/debunked-delta-lambda-compression.t9848/

iam4liberty:
As an example, note that nowlight claims manual chaging is faster than either solar or wall charging.  In fact, per table they claim a manual charge time of 24 minutes!



In technical parlance, that is a 2.5 C charge rate.  For the Lithium Ion battery type they spec'd a 0.5 C rate is typical.  Even the fastest charging methods available for an iphone X can only reach 50% charge in a half hour.



Given that we live in a time where science reporters for major publications claim planes travel at twice the speed of light, it is important to think critically and seek advise before spending money on unproven items.


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