Topic: 80% of ICOs are Scams - page 114. (Read 12240 times)
Yes. Many ICOs are fake and scams. It is very difficult to identify a good ico. But ICO investment is the best way to make profit. You should have a good knowledge and experience to identify a good one.
I do not think that the figure of 81 percent of ICO fraudulent projects is true. Earlier, it was announced that 902 ICOs were conducted last year. Only a third of them were directly fraudulent projects, and the total number of fraudulent and failed projects was 46 percent. I think this figure is more real. This also corresponds to my practice. Still, most of the ICO projects in which I participated, ended successfully. Therefore, I do not think that the current situation with the ICO is so tragic. Now there is a need for the regulation of ICO projects, but in any case they are very useful for the development of the crypto currency.
I can't say the percentage is upto that, because an idea won't work don't make it a scam, what I can say here is that definitely there are some projects that are obvious scam, and some developers don't know they are committing fraud also some projects won't work, so if I sum all these together I think it is more than 90%
I think its the process of ICO to get better in the future, if there are a lot of scam now then in the future this industry will get better and many legit project and the participants will be more competitive.
It depends on what we call the scam.
Perhaps 80% is even too optimistic estimate
Perhaps 80% is even too optimistic estimate
Scam being they never intended on delivering what they said they would. I would include shit that goes dead because they realized they could not do it as well.
I think that the figure of 80 percent of fraudulent ICO is too high.
I analyze a lot of projects for investment and keep track of ICO for a long time. In my experience outright scam found much rarer. Perhaps this is subjective, but I believe that among ICO there are much less scam projects than it is considered in recent years.
It is true that many ICOs are fake nowadays. We should choose an ICO wisely or else we will work just for nothing. Study the ICO and have a research on it so that you will have an idea regarding the ICO.
As far as i know the number of scam ICOs are far bigger than 80% 1/10 ICOs are acheiving success,so it means there are less projects that are surviving the market that is why ICO investments are surely a risky thing to do especially when you arent good in researching or investigating every aspects you need to check before getting involved with these projects.
Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272
I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share
Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”
"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”
DYOR people ...
If you have a 8% chance of it going to the exchange you better do you homework for sure. I believie you can eliminate most of the scams from your pool by doing the right kind of research. So, if you can eliminate half of the scams you can increase your chance of picking a winner gets close to 20%. I'll take those odds. I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share
Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”
"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”
DYOR people ...
I don't think 80% of ICOs are scams, but I think we agree the majority of them will fail/have problem sto stay alive when project will be done. Also reading on internet the % is more than 80% is around 90%!
Hi all,
I have already invested in Celcius network, Salt lending, eth lend ICO's and want to invest in Welltrado.
What do you think guys? Is it an interesting project?
Thank you for your answers!
I have already invested in Celcius network, Salt lending, eth lend ICO's and want to invest in Welltrado.
What do you think guys? Is it an interesting project?
Thank you for your answers!
We are collecting feedback, can anyone read our docs and comment on our project?
It's true there is a lot of opportunism in the crypto sphere. I even heard there were a couple projects which were created for earning a quick buck, but gathered so much money that they started working on the product for real. However, I wouldn't label so many ICOs as scam. A lot of them are pretty risky investments indeed and a lot will eventually fail, but it's alway like that on fresh markets.
This percentage is inconsequential to what you do as an investment in ICO.
The true litmus test has to be whether the business model is sound. If you are an angel investor would you investor other people money into this ICO . If it's Telegram would you invest? If it's some other Banana coin, would you invest?
How do they monetise the ICO ... Is there a fungible product supporting the coin? These are all the questions to ask...Instead of headlessly chasing bounty after bounty
The true litmus test has to be whether the business model is sound. If you are an angel investor would you investor other people money into this ICO . If it's Telegram would you invest? If it's some other Banana coin, would you invest?
How do they monetise the ICO ... Is there a fungible product supporting the coin? These are all the questions to ask...Instead of headlessly chasing bounty after bounty
Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272
I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share
Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”
"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”
DYOR people ...
I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share
Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”
"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”
DYOR people ...
I am not surprised by statistics represented in this topic. There are lot of ICO on the market. That’s true. But it is also almost impossible to define surely which project will be profitable. Participating in ICO is risky.
I'm sure that 90% of the projects are scam since project developers are easier to raise money on the pre/main sale and then go away 
Well I think it just the matter of time that ICO will gettin mature and it become one of the platform which trusted and known by many people. Its common when peoples just trying to get money from ICO but it will changed.
Sad statistics that frightens many potential investors. I hope that in relation to ICO measures will be taken that will exclude the possibility of losing the money of investors
Some projects are frank scam, some are well disguised scam. A lot of serious projects are not scams, but they don't do anything, because the technology is still young. Teams simply don't have enough experience to implement the plan. This is normal. Perhaps the first successful cryptocurrency projects will appear in 4-5-10 years. If we draw an analogy with dotcoms, most successful companies appeared after 2007
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