[2017-10-26] Vitalik Buterin: 90% of token startups will fall

Coenlogan

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Quote from: cryptohunter on October 30, 2017, 08:35:07 AM

90% of icos are business plans that failed to raise investment outside of the crypto realm. They see people here as easy targets and they are right.
Most will come to nothing and do not even have experienced cryptographers as part of their team.

The older projects that have skilled conceptual designers/cryptographers and coders will be the sole survivors.

The projects that also have consistent income, not just from cryptocurrency will survive as well. Take Assetron Energy for example, they will have their own solar plant. Real - they will own property.

cryptohunter

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MY RED TRUST LEFT BY SCUMBAGS - READ MY SIG

90% of icos are business plans that failed to raise investment outside of the crypto realm. They see people here as easy targets and they are right.
Most will come to nothing and do not even have experienced cryptographers as part of their team.

The older projects that have skilled conceptual designers/cryptographers and coders will be the sole survivors.

Gosha.day

newbie

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Too much ICO involves fraud
Just to meet personal money Shocked

followmenot

sr. member

Activity: 533

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Streamity Decentralized cryptocurrency exchange

Finally someone came up and told the truth to public. YES. Most of the coins with shiny labels will fail. It doesn't matter how great they advertise. But looks like Vitalik forgot to say one thing, successful startups will go to moon. After this ico madness. So there are still gold to be mined, symbolically.

G.Seed

member

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10% of token startup won't fall ?!
This would be awesome but I can't believe it. 1 or 2 %.

IgniHash

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Activity: 224

Merit: 10

One Token to Move Anything Anywhere

I think, Mr Butterin is right. His statement maybe based on current token condition. There are many ERC20 token right now which potentially become a scam.

jorneyflair

hero member

Activity: 672

Merit: 500

Considering the fact that 99% of all tokens that are trying to start themselves up in bitcointalk alone are completely clones of previous projects or just a ERC20 token with no apparent uses outside of a speculative token, 90% is an underestimate.

But generally, it's going to be along the lines of what Vitalik said.

People still going for these useless airdrops somehow, though.

rafter_01

full member

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I agree with Vitalik too but some ICOs are genuine and have good objectives with a well thought roadmap.

I think blindly signing up to ICOs is idiotic and most are scams.

axiline

full member

Activity: 462

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I completely agree with Vitalik. Most startups do not carry any real value, most of them are just a bubble that is inflated by advertising and beautiful ideas. I think with time, only strong and sustainable products will remain on the market, which bear real value in the development of blockchain technology.

Tipstar

sr. member

Activity: 1764

Merit: 280

Smart World Global Token

It's true. There are a lot of startups going for a token ICO as it's now easier and hasslefree.
Even they are true to their intentions, there no market for all those startup to success in their fields.

Howtrain

newbie

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Vitalik is right, the vast majority of ICO's are ridiculously thin on actual tech - eventually people have to start realizing that what they invested in has no value, right?

arpon11

sr. member

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I will said this is truth because many of the token has been delisted from the major exchangers sites and some of them also are scams projects using ethereum to actract investors. If we analyze most of this token and even new projects, we can see how some of them are pump from the beginning and get dump the following days and this is not healthy for the market. The market needs token and ico projects that gives confident to the investors and if things will be improve in years to come then good for all of us.

Yuhee

sr. member

Activity: 546

Merit: 250

Quote from: Spoetnik on October 30, 2017, 02:19:55 AM

Quote from: coupable on October 29, 2017, 07:48:44 PM

Doesn't need a genuis to tell us about the era of ICOs but every investor is responsible about his own money and has the ability to put them wherever he wants. So we can't blame scammers which they are always playing arround with or without ethereum. New startups will never stop appearing and no one can deny that there are great potentials in the market and everyday we see real solutions that may correctly affect our lives.

I agree.. every "investor" in "coins" is free to participate in any MLM / scheme coin "fuel token" app's platform smart contract coin cloning platform gimmick for ROI's they wish.. such as ? LEO COIN.

You guys are fucking blind and / or scammy and dumb.

Oh and utterly exhausting with your justifying bad.

the main issue why this other altcoins would crash would be because the lack of investors or miners. Because it cant run without anyone maintaining the coin in the market. Even if there blocks made everyday from other altcoins, but if no one is acquiring or mining them, it cant really be called as a success. That is why i think their are many free coins or airdrops given to some users to at least maintain it in the market

Spoetnik

legendary

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FUD Philanthropist™

Quote from: coupable on October 29, 2017, 07:48:44 PM

Doesn't need a genuis to tell us about the era of ICOs but every investor is responsible about his own money and has the ability to put them wherever he wants. So we can't blame scammers which they are always playing arround with or without ethereum. New startups will never stop appearing and no one can deny that there are great potentials in the market and everyday we see real solutions that may correctly affect our lives.

I agree.. every "investor" in "coins" is free to participate in any MLM / scheme coin "fuel token" app's platform smart contract coin cloning platform gimmick for ROI's they wish.. such as ? LEO COIN.

You guys are fucking blind and / or scammy and dumb.

Oh and utterly exhausting with your justifying bad.

Argoo

full member

Activity: 2254

Merit: 223

#SWGT PRE-SALE IS LIVE

The fact that most of the tokens created by the ICO fall in price or cease to exist at all, we already see in practice. I would like to learn more about the second wave, or the version of ICO, which, according to Buterin, will appear in late 2018, early 2019. Than these ICOs will differ from the former, that will become more reliable.

JanpriX

hero member

Activity: 1708

Merit: 606

Buy The F*cking Dip

This is expected and should be the utmost priority of the market right now. ICO's should have a more trustworthy standards where people can gauge it if it worth it to invest into it. We don't want to have a very big ICO-based market that don't have any practical use, be it in technological or financial terms. I'm excited to see the evolution of ICO (will happen between 2018 and 2019) as Vitalik stated. The quality of the ICO should be the first thing to be considered and else will follow.

Sven4

newbie

Activity: 7

Merit: 1

I really like the honesty of vitalik's statement, it takes balls to be able to speak freely and honest about
this problem that most "products" (icos) on his platform are basically vaporware.
Other Developers would probably never speak about a topic like this for publicity reasons, or when really asked about
it would just lie to the public and shut their eyes to the facts at least on a public level.

Coenlogan

newbie

Activity: 36

Merit: 0

ASSETRON ENERGY - https://assetron.energy

Is currently in presale - 40% of final ico price.

They are developing Blockchain P2P Investment Platform for Renewable Energy - basically revolutions the concept of "Community Solar" and building a global crowdfunding platform for renewable energy assets.

The coolest thing tho is that they are the FIRST (research yourself if you don't believe me) company that will utilise the ICO funds to build a solar pv power plant in Australia -so that they also get revenue from a money producing asset and not fail.

You will see, as Vitalik from Ethereum said - 90% of icos will fail - well they will fail because they will run out of money before they get customers.

ASSETRON ENERGY can't fail for at least 30 years - a fact, this is how long a solar plant will produce income within warranty.

So that's why its underrated - what other ico you can think of, that has a guaranteed income for 30 years (and income they will share with Token holders through rewards), that will allow them to continue developing and outlive any competition.

FleurTunisienne

member

Activity: 265

Merit: 14

Nina

But even vitalik was partener in some projects started with ICO !!!
Keep in mind that scammers are not just using erc20 tokens which will be updated with new version soon, but there does exist many other options.

coupable

hero member

Activity: 2338

Merit: 757

Doesn't need a genuis to tell us about the era of ICOs but every investor is responsible about his own money and has the ability to put them wherever he wants. So we can't blame scammers which they are always playing arround with or without ethereum. New startups will never stop appearing and no one can deny that there are great potentials in the market and everyday we see real solutions that may correctly affect our lives.

Topic: [2017-10-26] Vitalik Buterin: 90% of token startups will fall (Read 3981 times)