Topic: Are ICO going to replace mining? - page 2. (Read 2802 times)

insta ico = the easiest way to scam they have found yet.

impossible to scam with fair release POW.

I don't agree that all ICOs are scam but people just repeat what others say, Ripple, ether, monero are ICOs, and all of them are gaining new adoptions, if you got scammed someday, that because your bad choice, do you think ethereum or monero investors regret their decisions now.

may divide the capital for the ICO and Mining is the best way, ICO is good to have a different character with a few ICO scams, it is mining, some people believe that the mine to the GPU is a way of avoiding losses by warranty GPU, is inversely proportional to the ASIC.

I would ask the question in a slightly different way.

If and when the Bitcoin killer, super-alt is launched, how do you think they will be distributed at the early stages?
I can imagine it being an ICO, but ICOs are very dodgy as most are scams.  They also overly reward the people getting onvolved in the ICO, it is basically everything that is wrong with crypto distribution.

If the new super-alt is mineable, it will have to be either a new encryption that can only be mined fairly by the masses. I don't think such a thing exists though.  Even if they do make a CPU mineable coin, Botnets will take it over. That means most of the coins will be controlled by the initial miners, which is unfair.

The Clam method of everyone with a crypto address gets given x new super-alt coins.  This seems to to have it's faults too, as people with millions of addresses get given lots of money for nothing. It has happened a few times to clams that someone digs huge amounts from faucet addresses. That also isn't fair. You could raise the amount required in the wallet to a non-dust amount, say 0.1 BTC, but then you are making the rich richer.

I don't know how it will be done, I fear at the moment that an ICO will be the way forward so that developers can get some money together to develop the coin before it is released.  It isn't a good distribution method though.

Even Ethereum then?  Mining Ethereum was never very profitable even from the beginning. 

Nope.. ICO = SCAM

..all of them

Yes actually ICO and mining are investments, ICO can be called as trading altcoins in my opinions
basiccally make investments on ICO and mining are high risk
so we must manage strategy investing on hardware miners or investing on ICO, but I don't agree with ICO
will replace mining activity because without mining coins will not be made.

this now is good response investor and succes in ico selling use token system or asset
so without mining and pow,
coin with type pow is not good dev, good promotion can not grow
only old pow coin in still good coin
you can comparation same time launch lisa coin, lizi coin, with chronobank, edgeless coin, still good ico selling with token system

The main advantage is that the developers get a lot of money very quickly to help them hire bigger teams and pay for promotion/press releases/advertising.
It is also advantangeous because in certain blockchains a PoS system is preferable because it actually serves a function in incentivizing behavior on the blockchain itself.  I am brainstorming a new blockchain myself where being PoS is really critical to having it function correctly, there's certain behaviors that are much easier to incentivize with a PoS coin, and it's much easier to distribute to multiple well off stakeholders with an ICO setup that will be more likely to help you build your ecosystem.

The disadvantage is that a lot of people are just throwing money at projects they do not understand at all on a technical level, hoping to get rich quick because they saw Ethereum go up 200x in value.  Most coins are not going to be Ethereum and a lot of people will end up losing their money.

I don't think it's possible to end this year.some legit coins had their successful ico this year and what makes icos relevant is the huge number of investors and holders supporting this icos,we just need to weed the true one from the false

yes my fellow mate. so much ico has been popping everywhere and i wonder if they will last or just a scam.. i think this is happening because you can easily create an ico based on eth contract. that is why most devs prefered to have it under eth contract. and possibly sooner it will take over mining if this will happen massively.

Not all ICO get success, most of them are just scams. If all of the coins are distributed through ICO than those projects can't sustain for long time, there will be big dump after listing.

ICO are to generate some development fund to keep project running but mining is better way to distribute any coins.

I also love alts that do ninja launch (without pre-mining) rather than the ones that sell off more than 90% of total supply through ICO.

PoW coins rely heavily on inflation to pay for miners to secure their cryptocurrencies. Most PoW coins inflate well past our lifetimes, or in some cases for eternity. This inflation is costly. At their current respective valuations and block reward schedules, the top 5 coins are paying:

1. Bitcoin = $2,038,522 USD per day
2. Ethereum = $61,039,787 USD per day
3. Ripple = not PoW
4. Litecoin = $173,088 USD per day
5. Dash = $133,472.88 USD per day


Doing an ICO, sharedrop or switching from PoW to some variation of PoS is currently the only way to create a deflationary cryptocurrency. Why would you want to create a deflationary cryptocurrency? Inflation (whether it be from PoW block rewards, PoS staking rewards, or miscellaneous incentive schemes) creates substantial downward pressure on the free market. More supply being created results in it being necessary to have equal or more demand to sustain or grow the value of the cryptocurrency.

Deflationary crypto currencies are the future, IMO.

A deflationary cryptocurrency
+
Demand created by utility of said cryptocurrency (whether it be a service, a game, gambling, etc)
=
Massive profits for stakeholders due to the ballooning valuation of their tokens

And let's get real here. That is the reason why 98% of us are here... profits. Lately, I am insta-investing in any deflationary cryptocurrencies I find as long as I think they can create a sufficient amount of demand and have a decently fair distribution. I stay away from ICOs though, as they are too risky for my blood, but where there is large risk there can also be large rewards. I usually wait until there is at least a skeleton of a working blockchain, and after the "initial release pump" gets sufficiently dumped on.

They will continue mining operations if they intend to make profits in the long run and keep the 'business' lucrative too.Did I just say eth ? Why mining matters anyway ? Copy pasting the code from github is what it has become.

To be honest,I still love the altcoin start-ups which replace the traditional mining ways.You see much of a creativity in that process.We have already seen coins providing 100 other features bitcoin doesn't and they all failed,terribly.So people should get over making new coins already,just start a better project which doesn't necessarily has to be based on bitcoins.

I see so many ICOs its hard to keep up. I think ICOs may be the way to go. I may be wrong but there doesn't appear to be too many new quality coin announcements. So far my basis for whether it's a scam has been on what algorithm is used. If the new coin uses ASIC based algo ie sha256 or scrypt it's a red flag for a scam. My thought process is true decentralization is hard to achieve with those's algos due to larger coins like LTC and BTC attracting the majority of the miners. That means the new coin will attract old BTC and LTC miners looking to dominate in a small pond.

 ICOs are mostly scam. Mining is waste of electricity. There are some other ways of distrubuion (Like distribution based on blockchain snapshots and others).
 So I hope ICO-madness will be ended by the end of this year.

I agree with your observation,there are a lot of ico popping up and many more will come because it's easy way for  a dev to generate coins for his projects legit or not and many investors support,because they don't have a good mining rigs to accumulate those coins and they want to be first holders of those new coins.

So many ICO popping up , will they eventually take over for mining? Or the miners will continue to develop new coins to launch?

What are the advantages of ICO vs Mined?
I prefer to put in the work of mining, that was the whole allure and mystique of bitcoin