Topic: 4 main reasons why ICO projects are not trusted - page 2. (Read 735 times)
I found most of the ICO, it is difficult for us to contact the ICO team directly, and most of the ICO project is not open source, it makes me very worry, because it appears that most of the ICO project is just for the sake of money, they don't have any innovation.
Many of the ICO projects allocate a large share of the aquıred ınvestment from ICO to the advısors and founders of the fırm, many develop good technolgıes but the roadmap ındıcates that that techologıes wıll take a lot of tıme to ımplement, Many are only a replıcatıon of prevıously exısıtıng crytpocurrenıes successful ın the same category.
I think this can help when it comes to trusting a project, but also there is a lot more.
1) The team - Do they know what they are doing?
2) No product - I personally like ICOs that have a product as they are not just in it to make a quick bit of cash and disappear.
1) The team - Do they know what they are doing?
2) No product - I personally like ICOs that have a product as they are not just in it to make a quick bit of cash and disappear.
I would add the following feature to the list:
1) the company offers the following products: MLM, pyramid or ponzi scheme, cloud mining.
2) No white paper
3) ICO is not available on ICO rated sites
1) the company offers the following products: MLM, pyramid or ponzi scheme, cloud mining.
2) No white paper
3) ICO is not available on ICO rated sites
I agree with your points too, its very important that the team can explain their project further on the whitepaper. Sometime you just catch a copy/past of the ANN thread, that's not serious... we have to find more details on the document.
I always do full research before joining any ICO because as of now daily many new ICO are coming and most of them are only here to scam people so it's not worth to waste time and money on them so I select ICO very wisely by reading their Whipatper and concept of the project and the team also.
I would add the following feature to the list:
1) the company offers the following products: MLM, pyramid or ponzi scheme, cloud mining.
2) No white paper
3) ICO is not available on ICO rated sites
1) the company offers the following products: MLM, pyramid or ponzi scheme, cloud mining.
2) No white paper
3) ICO is not available on ICO rated sites
Thanks for your post. It is usful for me.
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
I agree with point 1 but regarding the rest I understand as someone who is holding an ICO. If you are a small team it is impossible to get back to hundreds of requests. For me the bigger concern is the incentive problem.
If there was a industry standard and secure DAO that gives governance rights to token holders that would be great. It would be as secure as investing in traditional tech startups!
Yes, I agree with you about your point of views, Therefore, the most important thing before investing in ICOs is that connect with the team. We have to understand clearly with people who will use our money
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
Your advice and recommendations are good, but it seems to me that this list can be further increased, since there are other items to consider when choosing ICO. The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
Just read about one such example "Confido"
https://www.cryptocoinsnews.com/exit-scam-confido-startup-vanishes-after-raising-375k-in-ico/
These scammers are a shame to the community creating bad blood and distrust with the entire ICO concept.
We should definetly come with a solution that will help everybody to avoid scammers like that.
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
Just read about one such example "Confido"
https://www.cryptocoinsnews.com/exit-scam-confido-startup-vanishes-after-raising-375k-in-ico/
These scammers are a shame to the community creating bad blood and distrust with the entire ICO concept.
To add another point to your list:
- They don't have a working product or even a demo to show as proof of concept before asking for severel million dollars.
- They don't have a working product or even a demo to show as proof of concept before asking for severel million dollars.
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
we need too foreknow the ico project before we diving it. Also the ico teams we need to pay attention to know how to make a project and the useful of their projects. Other way to stay in an ico projects we need to know the number of members who response to a good projects. More participants = good project. The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
I agree with everything except 4. If there are too many messages, the team will not be able to respond to them too quickly. You also need to pay attention to the experience of the team enough to make a useful project
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
This kind of projects doesn't worth that time you are spend to study them. I'm trying to avoid them. First of all any project should be communicative and responsible.
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
Most of the developers are not publishing their linkdn and that can be considered as ico with unknown developers. Just stay away from there. The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
The second they are starting with limited person. But for some ico with a lot of the people in there and they can build strong cs.
But some ico already made ontime communication with the investors.
Reviewing ICO projects is becoming a challenge because we have tens of them per week with their crowdsales starting. Some projects are making investors life harder because their websites ar not explaining how real they are and what they are really doing: using hype around cryptocurrency or trying to do the project.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
The reasons why ICO teams are not trusted:
1. They have not links to social profiles of their members on facebook or linkedin.
2. There is no dedicated person that answers emails or in social media.
3. Communication is not personalized. You chat or email with a person with no name or a name you can not check is true.
4. You have to wait several days to get the answer from the team.
Very good points, I think nobody can disagree. In fact, I would even say numbers 4, 3, 2, then 1 are the priority. But to be honest, these are simply basic customer support that is very important to all start ups, all services, not just ICOs.
The smart ICOs now already take care of 1. Everyone has that. They even have 2 or 3 done easily now through Slack and Telegram and even here.
That said, the best ICOs invest a lot of money in promotion and bounty. so 3-4 are hired people from here and freelancers. So not necessarily the best solution.
Good projects recruit and train the support staff first. Then they launch.
I absolutely agree! I think these subtle cues speak volumes about the types of people running these ICOs. If the founding team is doing this for all the right reasons they are likely to be well prepared and have made significant stride in other aspects of the project e.g. product.
1. Existence of more ico programs which initiates a confusion in prediction of the good and the bad.
2. Some trusted ico projects going as a scam creates a panic among the users.
3. Fake pumping groups that try to manipulate the moves of the project.
4. Above all, people never try to understand it better going through the different sources provided. When one reads it thoroughly automatically can predict the worthiness of the ICO.
2. Some trusted ico projects going as a scam creates a panic among the users.
3. Fake pumping groups that try to manipulate the moves of the project.
4. Above all, people never try to understand it better going through the different sources provided. When one reads it thoroughly automatically can predict the worthiness of the ICO.
Thanks for this information, this information helpfull how to find good ICO. I can add one more thing, to decide that good or bad project is depend on the team founder and their community. If the founder already known in publik and has good team work then they will succes. And also the purpose of the project really interesting so many people and investor will be jump it.
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