Topic: 80% of ICOs are Scams - page 25. (Read 12251 times)
Actually are other studies that it is higher than 80%. This scam projects are just riding the hype and popularity of blockchain and crypto and wanted to benefit from it in the wrong way. But it is still to us user and investor to fully research the project that we are joining.
ICO scams in cryptocurrencies are already well known. However, these detailed data are still difficult to organize. There have been speculations that 95% of ICOs are scams, but with these data it is different. At least let me have a little bit more confidence in ICO.
A good percentage of ICos are indeed scams, but not as much as 80 percent. Scams are all of the place now, but there are still a good number of ICOs that are genuine and are doing well for themselves in the market. It is only sad to see sometimes that these scam ICOs are making a bad name for the legit ones, and creating a bad atmosphere for them.
You are not entirely right, most projects simply can not collect the necessary amount of investment! These projects were not conceived to deceive participants and other machinations. At the moment, the market simply does not have enough investors who are willing to risk their money.
Yeah but in my opinion 90% of ico are fake.If we choose it to invest our money.It will be a big mistakes in our life. Because we will lose this money.So I recommend you don't invest on any ico before proper study.
It is necessary to pay attention about how the founders relate to their project. Are they managing their YouTube channel, share actual info and keep price of tokens at a decent level. If the idea of the project is working, then the crypto currency will be more stable. The OSA DC, for example, generally has its own manga. What kind of scam the project will create something like that? 
Yeah but in my opinion 90% of ico are fake.If we choose it to invest our money.It will be a big mistakes in our life. Because we will lose this money.So I recommend you don't invest on any ico before proper study.
Unfortunately, the company is not successful, some only make a noise, make a hayp, but in fact there are no underpinnings. Some companies frankly raise funds and disappear, but there is a small percentage of those who actually do their business honestly.
No one can statistically count that 80% of ICOs are fraudulent, so we should update our knowledge regularly, so do not get caught up in such scams.
Most ICOs are scams, but it's important to choose where to invest wisely. For me, a positive signal is participating in large number of events, established partnership and a good, well-known advisors. For example, OSA DC, I've been following their development and hope the project will be implemented in the retail chains soon.
Yes it is true. 80% of ICO's are now scams. Often these are fraudsters and just ran away the money of their investors after the end of ICO. And in addition, the ICO can also be called a scam if investors don't have gain profits, and lose money. and the developers are have no action for the situations. So the percentage of scams ICO's increases.
Unfortunately, it is really seems to be so. The lack of a control has it's flaws, so scammers have a great range of ways to fraud on cryptocurrency market. However, now even good and promising projects sometimes can't reach hardcaps, so maybe the situation will become better in the near future. Its only on us and our research before invest.
I must agree to that. Most ico's these days are scams , unlike last year where the ico's are just starting to blow. Now, I no longer invest or trust new ico. I stick with the top 50 atleast and that where I look for good project where I can invest.
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 ...
Now it is very difficult to find a promising and successful company. Most companies do not reach the soft cap. 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 ...
not all ico is scam, but mostly they're scam all you thing need to do is just do some little research before joining any ico, e.g search for their rating, the team, and their flatfom that is surely will be worth for joining the ico.
that's my advice.
that's my advice.
Yes, there are a lot of new ICO projects in this market that are scams, and they don't have good technology. So we must be cautious when investing in ICO, because it is very likely that you will lose your money, the risk of investing in ICO is very large.
In a smart contract. ICO conditions are formulated, may contain vulnerabilities or deliberate hidden conditions. Quite often, the presence of even limiting norms is better than their complete absence. This position is justified by the fact that the lack of legislative regulation predetermines the expansion of the limits of the discretion of law enforcement agencies.
We are currently outing an ICO that wants to pretend their ICO is completely normal here on the forums.
Check out the Tombola ICO ANN Thread https://bitcointalk.org/index.php?topic=4691540.600
The team was going to launch an EOS based lottery and gambling site (with 3 games)
They met their presale target and are currently in ICO...
Yesterday they post:
Tombola now ERC20 based. Not more EOS
WHAT?!? So everyone who invested in the project thinking it was EOS (that was a selling point your team had) just accepts that ERC20 is the protocol? How is this just decided to use a completely separate blockchain...
How much will the TBH Token price drop due to the Ethereum price tanking the last few weeks? How do you just put a smiley face and not explain anything about this?
Then we check their site and the whitepaper has been changed to not even mention EOS. They have already sold tokens in presale and are still listed on ICO sites as an EOS based lottery project but randomly decide that ERC20 token will now be the protocol....
They have already taken peoples crypto but don't give any detail as to why EOS isn't used or refund people who already bought tokens based on a different whitepaper.
If anyone see's this as a NORMAL ICO, feel free to chime in for them here https://bitcointalk.org/index.php?topic=4691540.600 It's not how ICO's are SUPPOSED to be run though.
Check out the Tombola ICO ANN Thread https://bitcointalk.org/index.php?topic=4691540.600
The team was going to launch an EOS based lottery and gambling site (with 3 games)
They met their presale target and are currently in ICO...
Yesterday they post:
As for me, project on EOS preferable than on Eth. Ethereum network is often overloaded, therefore, it can avoid this problem.
Although the idea of the project is not new, but it has a number of unique features over competitors. For example, the fact that Tombola is created on EOS platform.
Tombola now ERC20 based. Not more EOS
WHAT?!? So everyone who invested in the project thinking it was EOS (that was a selling point your team had) just accepts that ERC20 is the protocol? How is this just decided to use a completely separate blockchain...
How much will the TBH Token price drop due to the Ethereum price tanking the last few weeks? How do you just put a smiley face and not explain anything about this?
Then we check their site and the whitepaper has been changed to not even mention EOS. They have already sold tokens in presale and are still listed on ICO sites as an EOS based lottery project but randomly decide that ERC20 token will now be the protocol....
They have already taken peoples crypto but don't give any detail as to why EOS isn't used or refund people who already bought tokens based on a different whitepaper.
If anyone see's this as a NORMAL ICO, feel free to chime in for them here https://bitcointalk.org/index.php?topic=4691540.600 It's not how ICO's are SUPPOSED to be run though.
Honestly i am really tired of having fake ICOs everywhere they scare people away alot i just wish something can be done about this but in the meantime one has to take precaution which is looking out for the right ICO to participate in when you research you will be on the safer side thanks
I think that category of successful ICOs is very small. I can remember only few really successful ICO in this year. Maybe it is related to the bad situation on the market, but maybe ICO will not be popular anymore.
Yes, I agree with you, but I see that many initial offers coin now face the problem of not collecting money because of the market situation, but not all of them are scams
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