Topic: 80% of ICOs are Scams - page 36. (Read 12240 times)
ETH is currently under strict control of the token on the platform. This gives rise to many DEV teams that easily create projects without much cost. So many fraudsters took advantage and appropriated the money of investors.
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 hope in the future there will be more successful ICO. Now there are many ICO scams and therefore it is better not to invest all the money in the ICO. 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 do your research thoroughly, you don't have much risk of getting scammed.I've been involved in quite a few ICO's and bounties and I've only encountered one scam in an airdrop/ICO.
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 have experienced an ICO failed, not a scam but failed, I think most ICOs fail because they don't meet the target so we don't get paid. 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 ...
Yes for sure 80% ICOs are SCAM. But if you think that all organizars will not be punished so it's wrong. Crypto is not legar or illegal. But when it will become legal. All of them will go to prizon. Be patient and careful.
Let's be clear, initial coin offerings on rare occasions are straight scams. It's my view that the concrete obstacle turns out to be time and again a unacceptable economic proposal.
Yes, every day more and more scam projects and now it is more difficult to find a good and promising project.
When we discuss trick?, its distinctive with low advancement of the group. Trick is simply fled with the raised money.There are additionally many ICO's that have a feeble potential for advancement and don't achieve the objective, so the cost of their token is continually falling. Possibly the rate is littler than half.
Quite unfortunate but its a fact. There are also chances that its even more than 80%. Most of these projects barely turn out to be meaningful, some even fail before seeing thelight of the day, making the crypto industry so unpredictable as it is
would be wise to invest on ICOs that follows regulatory reqts, they cant run away with the money just like that. Check out the space in Taiwan where the likes of Formosa Financial are actively engaging the government officials into talks about crypto regulation. https://technode.com/2018/08/06/taiwans-crypto-scene-is-booming-but-still-needs-a-clearer-regulatory-framework-to-thrive/
This is of course an urgent problem of our days. But how to resolve this. in fact, I don't know. Personally, when I choose some ICO project, first of all I look at the history of the company, it is important for me to understand that this is not just a newly created company, but a long-growing one. Secondly, I look at the project team, who these people are whether they have some more successful projects behind them. And third, the availability of the product and its benefits to people. If the idea itself is questionable, then I immediately cut off this ICO and do not even participate in it as a bounty hunter, if the project is promising, then I am happy not only participating in the bounty program, but also investing in it. Everything is relative, everything has a percentage of slag, the main thing it to be able to identify and not fall into their trap.
It is because the ICO does not have any legal framework so when fraud occurs, investors will not be protected by law, but must be responsible for their work. In the history of ICO projects have Many people become millionaires after just one night
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 starting to believe in this, at first I was secured that most of the campaigns here are somewhat legit or perhaps atleast will give the rewards based on my work but sadly a lot of these ICOs turned out to be a scam leaving months of works wasted.
This number seems to be very exaggerated, so I would agree that maybe 15% and not more is a scam, but the problem is with proper definition of the word scam, which is a project developed in purpose of stealing money.
Of course not 80% percent of scum, but quite a lot. You just need to follow the simple rules of filtering and the scam will be seen right away. It is very rare that a scam is well masked for a promising project. Everything is easy to check.
I think 99% of ico is a scam
Somewhere so and even more after all there is still a risk of a technical scam. There are two kinds of projects that initially want everyone to throw and the other part seems to work, but because of some circumstances, they can not realize what was written on the roadmap. Projects from the first group can be calculated at the beginning, since sometimes everything is very clearly visible at a glance. But with the second group, how lucky it will be in the future no one knows.
The largest number of scammers in the ICO. Therefore, carefully check the project before entrusting your money. Pay special attention to the development team, it should be public people with profiles in social networks. Do not be lazy to check these profiles, whether they are real. Well, if the team has people who have already participated in successful projects.
Totally agree, most of the ICO is cheating. You need to choose the project carefully if you want to invest in the project at the ICO stage. Now it's a big risk. In addition, I very much hope for the introduction of regulation in this area. This will put in order and increase the confidence of investors
Of course, many of them is just a scam. Especially in this year, most people see ico as a money field. After they got money from crowdsale, they dont want to develop project anymore and keep saying "They working hard every single day" but the fact is just a lie, he said like that just want to make us calm and dont want to make investors yelling their project is just a "Scam".
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