It’s been a market funded by scams and manipulation for quite some time now. I think newbies are finally getting fatigue of burning their money in pursuit of easy profits.
Og has the idea.
Most of the icos were created during last year's bubble as people wanted to capitalize and take advantage of all the money entering the bubble. It worked for a lot of ICOs. There was millions upon millions wasted last year due to icos.
Now that it has died down this year we aren't seeing as much activity but there is still some. ICOs are a waste of money. You're better off waiting for the coin to hit the market cause it's hard to tell whether or not something is a scam as most don't even make it to an exchange. It's a risky business going into an ico. I paid money for one ico, and never will make that mistake again.
Sometimes not taking action, and recognizing opportunity when it's there is a greater mistake..Those who initially invested in ETH had insane ROI's.
There are some steps that can be taken to to tell whether or not something is a scam:
-Promises that are too good to be true
-fake teams
-Asking for more than what they are trying to build
The SEC also created a fake ICO website themselves called HoweyCoins.com
AI tools will likely one day be able to also help us tell frauds from gems. Until then common sense and good judgement can make it less of a gamble. Losing money is never fun but it's always the fault of the loser.
