Hey guys - HAVE YOU HEARD!!!!
There is this awesome new ICO's with KITCHEN SINKS as its focus!
LOL - just kidding.
Great article - I feel its a little unfair to judge an ICO via its location however. There are scammers in every country. Dont make the mistake of NOT investing if it falls into a "high risk" country - it could very well be the best investment of your life.
By the same token DONT make the mistake of just investing in an ICO that is in a low risk country. If you do, using this as a basis for your decision - you are very likely to be scammed.
Topic: 3 kinds of ICOs — Protect yourself - page 20. (Read 13692 times)
Interesting post. Now if I can add a thing or two, I'll add that one should also look at the past professions and achievements of people behind the ICO project. For example, keep track of all the available information you can get about the founders and team members behind the ICO. Are they credible enough to start and make what they propose successfully? And likewise, are they transparent when it comes to providing records, specifically where they will use the contributions or where the contributions of the people who invested in will go?
I remember that I once read what Peter Sin Guili shared on his Twitter. He said that for an ICO to be credible, everything about the company's management should be transparent. This is what I say too to people I know to check before they start investing their money with any initial coin offerings.
I remember that I once read what Peter Sin Guili shared on his Twitter. He said that for an ICO to be credible, everything about the company's management should be transparent. This is what I say too to people I know to check before they start investing their money with any initial coin offerings.
everyone ico having bright future because now a days people are launching good projects which is quite great for investor to invest in right place because they are giving demos etc and everything which is given below so i would like to say that we should never ignore any ico because every ico having good future which is quite great.
I think you need to add some punctuation.
Nice thread to read, thanks for sharing!
Crowdholding claims that they have a working beta, which is good news. However, I can’t find it on their website. Have you used it? Have lots of people used it to help guide a startup to success?
Their white paper says that the problem is that too many startups fail due to lack of market need. Their solution is that funders (YUPIE token holders) will be able to tell the startups how to find market needs.
This is ridiculous. If this is the case, then companies would be asking their shareholders on what the market needs. Google, Apple, Facebook and the hundreds of thousands of companies should be asking their shareholders about market needs. They don’t. Why not? Because the shareholders do not know. The only people who will know are the end-users and customers. That’s why companies spend billions on market research, focus groups, free samples, surveys, product trials, etc., etc. The only people who know and will tell the truth are those who have to part with their money and will get enough value in return to justify it. Anyone who has studied Marketing knows this.
Let’s say that there is a startup that wants to sell Japanese seaweed snacks. How much are you willing to pay for the snacks? What would you recommend to the startup? Even if you wouldn’t eat this, how would you know others won’t? You may never have tasted it before, so you will have no idea. The only way the startup will know if these snacks will sell is if they do market research, in the right target markets, with product trials, etc.
Even if Crowdholding's idea has merit, how do you, as a YUPIE token holder, know for sure that startup companies will reward you after they succeed? The tokens are not legal contracts. You cannot get a judge to force the company to pay.
Startups take many years before they are financially successful. Most companies are still losing money when they go IPO on the stock market. Amazon is barely making any profits. Twitter is still losing money. Facebook took way longer than most companies to IPO and they barely showed a profit. Technology and growing companies rarely pay dividends. How long will you wait before Crowdholding’s startups start rewarding you?
I do not think Crowdholding is trying to scam anyone. They likely think that they have a good idea, but do not see the flaws. Most ICO buyers do not see these flaws because they haven’t spent enough time in the business world and are impressed by lots of jargon and big teams with fancy titles.
Their white paper says that the problem is that too many startups fail due to lack of market need. Their solution is that funders (YUPIE token holders) will be able to tell the startups how to find market needs.
This is ridiculous. If this is the case, then companies would be asking their shareholders on what the market needs. Google, Apple, Facebook and the hundreds of thousands of companies should be asking their shareholders about market needs. They don’t. Why not? Because the shareholders do not know. The only people who will know are the end-users and customers. That’s why companies spend billions on market research, focus groups, free samples, surveys, product trials, etc., etc. The only people who know and will tell the truth are those who have to part with their money and will get enough value in return to justify it. Anyone who has studied Marketing knows this.
Let’s say that there is a startup that wants to sell Japanese seaweed snacks. How much are you willing to pay for the snacks? What would you recommend to the startup? Even if you wouldn’t eat this, how would you know others won’t? You may never have tasted it before, so you will have no idea. The only way the startup will know if these snacks will sell is if they do market research, in the right target markets, with product trials, etc.
Even if Crowdholding's idea has merit, how do you, as a YUPIE token holder, know for sure that startup companies will reward you after they succeed? The tokens are not legal contracts. You cannot get a judge to force the company to pay.
Startups take many years before they are financially successful. Most companies are still losing money when they go IPO on the stock market. Amazon is barely making any profits. Twitter is still losing money. Facebook took way longer than most companies to IPO and they barely showed a profit. Technology and growing companies rarely pay dividends. How long will you wait before Crowdholding’s startups start rewarding you?
I do not think Crowdholding is trying to scam anyone. They likely think that they have a good idea, but do not see the flaws. Most ICO buyers do not see these flaws because they haven’t spent enough time in the business world and are impressed by lots of jargon and big teams with fancy titles.
Fantastic thread! Would you mind reviewing every single ICO so I don't have to do any work? 
LOL. I want to believe that to be a joke. If with all OP has stated here, anyone cannot make use of it to help themselves from getting scammed, then they truly deserve to be scammed. Almost all the people have fallen for these sort of ICO scams today because they really cannot do the needful diligence out of laziness, which is why we have China coming up with all these regulations otherwise some of those ICOs won’t even have been able to make it past the pre-ico before they see there is absolutely no room for them.
Took me some time to read all posts, i can say this is very useful thread and it answers to 99% questions asked in this section.
Moderator should pin it.
Moderator should pin it.
Your post is GOLD. Thank you for sharing this, I think this should be put on top of this section.
I agree with all of your points, except the one about "Corrupted Country". In my opinion, it means nothing. A good project can be done even if the main developers are from Venezuela, for example, or Angola. There are many good project done in Russia, even if this country seems quite corrupted. You have to separate individuals from government. The government could be corrupted and yet a single developed could be the most serious and reliable person on Earth.
I agree with all of your points, except the one about "Corrupted Country". In my opinion, it means nothing. A good project can be done even if the main developers are from Venezuela, for example, or Angola. There are many good project done in Russia, even if this country seems quite corrupted. You have to separate individuals from government. The government could be corrupted and yet a single developed could be the most serious and reliable person on Earth.
As mentioned in my OP:
Quote
Yes, there are scams from countries that are not corrupt and successful projects from corrupt countries. What is important is the probability and if you are willing to take the extra risk.
In non corrupt countries, people grow up with lots of regulations and enforcement. Though there are exceptions, the people feel that the way to get ahead is based largely on merit. In corrupt countries, there is less regulation, less enforcement and more people trying to find ways to get ahead by working around the system. In fact, they see that the most successful people in their country, usually in their government, are those who get ahead by lying, cheating or working around the system, instead of based on merit. If you do not think this is a risk, you may be right. I may be wrong.
ModulTrade
https://bitcointalksearch.org/topic/annpre-ico-modultrade-the-freedom-to-trade-2240518
Quote
“While the number of MTRc is limited the increase of trades pushes the demand for MTRc and its valuation”
This means that they are selling a security and will be on regulators’ lists. Maybe ModulTrade doesn’t care about regulators because Russia does not have extradition agreements with other countries, but what happens if regulators ban their token in Europe or North America? Will you suffer a loss?
Countries without extradition agreements make teams feel more invulnerable. Therefore, they are more likely to lie and cheat investors from other countries, because there is little to no recourse from the other countries' governments.
I watched a video of a conference. ConsenSys was warning about selling securities. Waves’ CEO, who is from Russia, debated this and shrugged it off. Is he less concerned because the chances of him getting punished is minimal?
Russia wants to boost the crypto industry in their country. Putin's advisor ran an ICO. Is the Russian government funding Russian teams to help them maximize the money that they raise on ICOs? If so, you should be aware of this risk. Though there are exceptions, in the far majority of time, when a government tries to pick and choose companies, it’s not a good idea. The U.S. government forced taxpayers to give $535 million to Solyndra. It looked great at first and then it went bankrupt. Governments are not educated nor skilled to be Venture Capitalists, investors or stock pickers. Their money is often spent on policies to further their political or social goals.
In the extreme cases when the government tries to centrally manage the economy, they create socialism, or communism which is the extreme form of socialism. Every government that centrally manages their economy have always made their economies poorer in the long run. Think of Cuba, Venezuela, when Russia was communist, when China was communist, etc. The people who are best at picking which business will succeed or fail, are those in the free market.
How about Genesis Vision mate?
Folks, I am badly in need of advice, all sounds convincing
https://bitcointalksearch.org/topic/annpre-ico-modultrade-the-freedom-to-trade-2240518
https://bitcointalksearch.org/topic/lif-winding-tree-decentralized-travel-distribution-lufthansa-swiss-1946065
https://bitcointalksearch.org/topic/annico-genesis-vision-decentralized-platform-for-the-trust-management-2143279
https://bitcointalksearch.org/topic/annpre-ico-modultrade-the-freedom-to-trade-2240518
https://bitcointalksearch.org/topic/lif-winding-tree-decentralized-travel-distribution-lufthansa-swiss-1946065
https://bitcointalksearch.org/topic/annico-genesis-vision-decentralized-platform-for-the-trust-management-2143279
The success of any ico is what the owner of the ico snd it's community made of it! There is no hard or fast rule! The truth of the matter here is nothing is actually legit, People create value on anything they decide on and make it legit. This is the more reasons for you to look for ico that had created value and is continuing to create value both in short and long term!
Thanks for this, Jilp! This is educating the people here in terms of how to classify the so many ICOs that are offering their sets of tokens right now with a price. However, the knowledge to be able to determine which ICO is a scam, just a crap, or legitimate still needs to be learned by the great majority of us here.
Nice thread and great breakdown!!!
I tell people time and time again that these should be the MINIMUMS for any ICO's. Team, idea, and proof of concept. I found out about Unikoingold recently and they seem to fit the bill
I tell people time and time again that these should be the MINIMUMS for any ICO's. Team, idea, and proof of concept. I found out about Unikoingold recently and they seem to fit the bill
I think ICO's are revolution that's for sure , because it is like every individual can invest in 90's 00's tech companies regardless how much money they have that is one good part of it. But there is too many junk and similar ico's , every entrepreneur or scammer wants to grab some easy money. We need to be so selective and need to make our own due diligence , we need to search team , product , market , is there a need for this idea.. Because nearly we are all invest our own hard gained money...
ico is how to determine their own market value? What is the proof of what they have, and if they can not prove this and what is the difference between the air?
Great thread man, should be pinned here haha
If Bitcointalk had a tip system i would tip you ;p
So many projects raised millions, have NOTHING, some just tax miners and make hands free money
Everyone wants to get rich, and it's easier to take it from the uninformed in crypto sadly
Dont trust anything with Vitaliks face on it, thats one of my rules haha
If Bitcointalk had a tip system i would tip you ;p
So many projects raised millions, have NOTHING, some just tax miners and make hands free money
Everyone wants to get rich, and it's easier to take it from the uninformed in crypto sadly
Dont trust anything with Vitaliks face on it, thats one of my rules haha
Awesome advice! Definitely can empathize with all you wrote. Moreover, would add that transparency is vital; Team (LinkedIn, public Profile), Product (at least a smoke screen test), Whitepaper (well written, detailed, timeline, compensation, distribution, concept, people, etc), and online presence (Social media, blogs, etc). All helps with credibility (references never hurt either).
Feel free to give us some advice to make us as transparent at possible: http://www.telco.in
Cheers!
Chris
Feel free to give us some advice to make us as transparent at possible: http://www.telco.in
Cheers!
Chris
Thank you everyone should know what you write here, I totally agree with all your writing.
Today ICO is like a marathon race, they make it collect money then lost. just leave the junk coin.
this is a disaster for investors.
Today ICO is like a marathon race, they make it collect money then lost. just leave the junk coin.
this is a disaster for investors.
Everyone congratulating the OP for a great post. Lol
Sorry to burst the bubble but you know all ICOs will soon very very likely be banned globally. They all breach basic securities law. You cannot advertise the sale of a security. It's on the books in international law. Dump all the tokens you have they are soon to become worthless.
Sorry to burst the bubble but you know all ICOs will soon very very likely be banned globally. They all breach basic securities law. You cannot advertise the sale of a security. It's on the books in international law. Dump all the tokens you have they are soon to become worthless.
A very well written thread by the OP.
BTW, not all ICOs are considered securities, and thus not all ICOs will fall under securities regulations.
very good input from OP.
But i can't help to think that you are a little biased. There are some good projects, altough i agree that 98% are not substantial.
But you're assumption of Kyber was wrong, i cleared that already up and Reuqest Network and Bitpay are fundamentally different.
But i can't help to think that you are a little biased. There are some good projects, altough i agree that 98% are not substantial.
But you're assumption of Kyber was wrong, i cleared that already up and Reuqest Network and Bitpay are fundamentally different.
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