Topic: 3 kinds of ICOs — Protect yourself - page 23. (Read 13686 times)
Thanks your hard work for all member here! I had join somes ICO coin! Some of that coin have price after ICO lower ICO times and some off it have long time waiting exchange ( example: MNX coin) . So i ithink member need carefull when joint ICO program!
this topic can provide good insight and knowledge about prevention of the negative effects of ICO. this can minimize losses for investors and others.
Change Bank wants to issue a debit card, which Monaco, TenX and Centra are doing as well.
There might be enough of a market for multiple debit cards. However, the number of people who will put their coins in a bank or any centralized place, is questionable. According to this poll, the majority of people do not agree with the idea "Bitcoin bank":
https://bitcointalk.org/index.php?topic=1652815.2160
Andreas Antonopoulos recommended that you should never leave your coins at an exchange, because you are creating a honey-pot for hackers or employees to steal. By putting your coins in a bank, you are creating a honey-pot.
Also, Change Bank lies about their team. Their “Blockchain Expert” worked as an Inside Sales Rep until 1.5 months prior. Their “Blockchain Developer” never developed anything related to blockchain before.
Also, banking and insurance are very complicated businesses. None of the people on Change-Bank's team have experience in banking or insurance, with the exception of their administration person who did administrative work at a bank.
There might be enough of a market for multiple debit cards. However, the number of people who will put their coins in a bank or any centralized place, is questionable. According to this poll, the majority of people do not agree with the idea "Bitcoin bank":
https://bitcointalk.org/index.php?topic=1652815.2160
Andreas Antonopoulos recommended that you should never leave your coins at an exchange, because you are creating a honey-pot for hackers or employees to steal. By putting your coins in a bank, you are creating a honey-pot.
Also, Change Bank lies about their team. Their “Blockchain Expert” worked as an Inside Sales Rep until 1.5 months prior. Their “Blockchain Developer” never developed anything related to blockchain before.
Also, banking and insurance are very complicated businesses. None of the people on Change-Bank's team have experience in banking or insurance, with the exception of their administration person who did administrative work at a bank.
This is very helpful for those who are interested to join and to invest in ICO's. These days there are many ICO's that has been spreading posting more information about their project like the roadmap, team marketing strategy and a lot more. Yes the team should proves that they can develop the project very well to attract more investors.
so helpful information for me that never tried to invest so for now atleast i have read it now and then i will apply what i have read with the information you provided.
thanks for the infomation mate. well detailed and will take your points into consideration. thanks again!
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.
This is a very good point. Avoid any ICO that tells you that you are making an "investment" or that you will make money, a "return" or "dividend" or that the value of the token/coin will go up. These ICOs will be on top of the list for regulators, if they decide to come after them.
It's questionable if the new token will be deemed a security if the team sufficiently warns the buyer that the token has no value and that the buyer can lose all of his/her money.
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.
So here are the golden rules that I always follow if I am thinking of investing in any ICO. No 1 is, what is the problem that the ICO intends to solve. If there is no real life usage, I do not even look into the ICO. 2nd is, who are the people behind the ICO. Do they even have the capability and capacity to complete the project - I dont want to give my money to some kids with cool idea but have no experience in execution. Lastly, if I do not understand the ICO in layman terms and can't explain it to my grand mother, I would not touch it.
There are 3 kinds of ICOs:
1) SCAMS
2) CRAP
3) LEGITIMATE
YOU CAN REDUCE THE RISK BY USING 3 FILTERS
1) The project’s idea should make sense, but do not base your investment decision purely on the idea. Watch:
There are probably 10 other people with the same idea that you have or that the ICO has. The most important factor to success is the ability to execute.
HAS THE ICO TEAM BUILT ANYTHING THAT WE CAN USE TODAY?
If not, take a pass. This is the best evidence that the team can execute. It takes way more skill, time, work and money to build an app than to create a one-page website and video. It shows:
Everything else is useless. Don’t be fooled by big teams, fancy pretentious titles, references, roadmap, video, fancy animations, escrow, blogs, Slack, Telegram, Twitter, Facebook, Reddit and white paper.
One project stacked their team with a dozen people and then lied about them. One member had the title of “Blockchain Expert”, but he worked in Inside Sales until 1.5 months prior. One member had the title “Blockchain Developer”, but he never developed a blockchain before.
Here is an example of a project team using fake photos and fake names: https://bitcointalksearch.org/topic/m.19485217
Don't rely on Github unless you can verify that they didn't copy the code from someone else and you can run it.
Several high profile projects raised millions of dollars and still have not produced an app. This number will grow and become more evident in the coming years.
Gnosis raised $12.5 million and their website says:
No app yet.
Qtum raised $15.6 million. I don't see anything produced on Qtum's website.
After raising $50 million, Cosmos's website is still pitching its white paper. Come on. What have they produced with that $50 million?
Augur had Vitalik Buterin on their team. After Satoshi Nakamoto, Vitalik is the most desirable person in the universe to have on an ICO team. After raising multiple millions and after two and a half years, all they’ve released is a simple beta that is barely usable.
Don’t be suckered by animations and videos. Satoshi didn’t have any of this and his coin was the most successful. Besides, the animations aren’t that impressive anymore, as I’m beginning to see the same animation on multiple websites. Some of these teams must be using the same graphic designer.
2) IS THE TEAM FROM A CORRUPT COUNTRY?
If so, take a pass.
The number of ICOs from corrupt countries, especially those that were famous for sending out phishing scams for years, have exploded.
3) “NEVER INVEST IN A BUSINESS THAT YOU DO NOT UNDERSTAND”
Last word:
You need to be able to verify that the business problem exists, that the market size is truly as big as the ICO claims and that the solution is possible.
I'm sorry I deleted a lot of info in my quotation, it was done solely to make it shorter and main points visible at first glance. Your kinds of icos seem to be fine, it's hard to think of other major kinds at least. However, an ico might be a legit one and yet fail due to some unexpected reasons, nobody is ever protected from that. What should also be mentioned is that perfect icos don't really exist, I guess they all have their downs. And yet it doesn't create an obstacle for one to earn a lot of money by investing into it.1) SCAMS
2) CRAP
3) LEGITIMATE
YOU CAN REDUCE THE RISK BY USING 3 FILTERS
1) The project’s idea should make sense, but do not base your investment decision purely on the idea. Watch:
There are probably 10 other people with the same idea that you have or that the ICO has. The most important factor to success is the ability to execute.
HAS THE ICO TEAM BUILT ANYTHING THAT WE CAN USE TODAY?
If not, take a pass. This is the best evidence that the team can execute. It takes way more skill, time, work and money to build an app than to create a one-page website and video. It shows:
- The team has proven that they can develop.
- It is less likely that the team will invest so much and not follow through.
Everything else is useless. Don’t be fooled by big teams, fancy pretentious titles, references, roadmap, video, fancy animations, escrow, blogs, Slack, Telegram, Twitter, Facebook, Reddit and white paper.
One project stacked their team with a dozen people and then lied about them. One member had the title of “Blockchain Expert”, but he worked in Inside Sales until 1.5 months prior. One member had the title “Blockchain Developer”, but he never developed a blockchain before.
Here is an example of a project team using fake photos and fake names: https://bitcointalksearch.org/topic/m.19485217
Don't rely on Github unless you can verify that they didn't copy the code from someone else and you can run it.
Several high profile projects raised millions of dollars and still have not produced an app. This number will grow and become more evident in the coming years.
Gnosis raised $12.5 million and their website says:
Quote
“The Hunch Game is nearly ready and can be launched in the first half of 2017 as an example Gnosis app.”
No app yet.
Qtum raised $15.6 million. I don't see anything produced on Qtum's website.
After raising $50 million, Cosmos's website is still pitching its white paper. Come on. What have they produced with that $50 million?
Augur had Vitalik Buterin on their team. After Satoshi Nakamoto, Vitalik is the most desirable person in the universe to have on an ICO team. After raising multiple millions and after two and a half years, all they’ve released is a simple beta that is barely usable.
Don’t be suckered by animations and videos. Satoshi didn’t have any of this and his coin was the most successful. Besides, the animations aren’t that impressive anymore, as I’m beginning to see the same animation on multiple websites. Some of these teams must be using the same graphic designer.
2) IS THE TEAM FROM A CORRUPT COUNTRY?
If so, take a pass.
The number of ICOs from corrupt countries, especially those that were famous for sending out phishing scams for years, have exploded.
3) “NEVER INVEST IN A BUSINESS THAT YOU DO NOT UNDERSTAND”
Last word:
You need to be able to verify that the business problem exists, that the market size is truly as big as the ICO claims and that the solution is possible.
What's more, I disagree with your advice not to invest in an ICO whose team is from a country with high level of corruption. People are different in any country and projects developers might actually be good and it's unfair that good people from a bad country don't get a chance to succeed.
This is so true, I cant agree more. I remember when I got engaged on a scam, Im new on investing with ICO that time and Im just so excited to join one. Little did I know, I found my self engaging with a fake team and a fake project. That time, I was encouraged to join because of the pleasing apperance of their website. Then I only learned that not all ICOs are credible, I realize that I should have a knowledge about the projecct. Since then Im always doing a background check with the team and also avoiding projects which I have no idea. So far, Im now learning more and engaged to a well known ICO which has a bright future.
This worth to read 
as my research goes and I've been reading some articles, most ICO's are legit and has a good purpose, however, the real issue here is the post coin offering, will it be worth on the market? Will the community adapt it or the project will just go to garbage because community doesn't need it.
as my research goes and I've been reading some articles, most ICO's are legit and has a good purpose, however, the real issue here is the post coin offering, will it be worth on the market? Will the community adapt it or the project will just go to garbage because community doesn't need it. 
Fantastic thread! Would you mind reviewing every single ICO so I don't have to do any work? 
ICOs project are not real except few of them. What is BAT, Adex network, They left the project after they can raise million dollar funds. That ;s sucker developers who suck money from investors. Most ICO with unrealistic project give high promise but in fact they are selling garbage and shit. 
Thanks a lot for an informative discussion regarding ICO. To be honest i'm not really good in identifying what is legit or not. But this thread help alot
Quote
3) “NEVER INVEST IN A BUSINESS THAT YOU DO NOT UNDERSTAND”
This is funny as most of these ICO have nothing to understand! Nice list By the Way.
Thank you for the insights .
. 
Thanks for this detailed write up. Extremely useful as well. It was getting hard to chose which ICO was legitimate so just decided not to go with it lately. However it seems Airdrop is all the rage nowadays.
Fantastic thread! Would you mind reviewing every single ICO so I don't have to do any work?
Your tips are excellent and i'd say all on point.
The fact is that there are so many ICOs out there trying to rip you off these days. Especially the big ICOs that do an ICO without having any sort of product even done after a year of ICOing, that really really sucks.
However, there are some ICOs that are worth a buy, even if they don't fulfill your criteria. But it's sort of a gamble, nobody knows for sure.
The fact is that there are so many ICOs out there trying to rip you off these days. Especially the big ICOs that do an ICO without having any sort of product even done after a year of ICOing, that really really sucks.
However, there are some ICOs that are worth a buy, even if they don't fulfill your criteria. But it's sort of a gamble, nobody knows for sure.
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