Topic: Are ICOs scam? - page 13. (Read 5447 times)

If ICO does not reach the minimum target (hard cap), I think its name is not a scam, but project failed.
Provided they return the money that has been entered into the investor, or continue ICO in the presence of ICO part2 or something like that

Most ICO's that are doing good have launched somewhere beyond Bitcointalk and they also participate in this website as well. Being around many websites with the project does mean something if it's legit.

i don't believe that all icos is scam. Most of them  are Scam or without promising future .

No.Not all.Remove that from your mind and select a good and promising ICO and invest in it. ICO's are the opportunity for a potential project to get on the road.They just raise fund and start building the project.So invest in a good ICO which has long-term benefits.To know about the ICO read their white paper and roadmap and to know well about their team.

Did you read their whitepaper? Or at least visited their website? If you did that and you decided that the project is a legitimate one, then perhaps the ICO that you invested on is good. You will have returns in the next months depending on their roadmap development. And they collected a big amount.

Not all of them. But one should do their due diligence before investing in any ICO to make sure it's not a scam.

The fact that ICO has got all the neg reputation is all because of the recent increased number of scam on the forum campaigns as well as after the project launch. The ICO used to be best investment opportunity a year ago but it's not now but that's not completely ignorant as well. There are many people who are trying to get into real business deal and they are very rare that's why we can't see them in the bunch of scam ICO. The better way to odd them out is by researching more in that particular ICO by means of reading whitepaper or looking after the real news about the project launch. You can also checkout the engagement of the project socially which actually defines the power of communication and hence altogether the legitimacy of the project.

For me personally i do say that some ICOs are scam and some just failed to reach tjier specific target. Always remember that the true value of an ICO token takes month after the launch nor years. Invest wisely mate.

I decided to do something about spam on this forum, and to give my contribution in fight against spam. This forum can be a better place, I believe that we can make better organization of our comments. Let`s try to create a system that we will follow in every section of this forum, to make easier for each of us to find good and valuable informations. This is my first try, have respect for that!
Let`s have 1 thread about this topic, not as many as we have now. We will keep track of one thread easier then  10 different threads with same headline, and hundreds of same or similar comments.
First of all let`s choose a topic where we will discuss about specific question or matter, we need to avoid new threads that newbies are making each day with same problems and same questions, avoid them or if you wish to comment something point that newbie where to find thread about it and stop there.
Everyone is entitled to his/her own opinion, everyone can change opinion, add new information`s. What I wish we to do is to stick with facts all the time, with verified informations, and after that to give our opinion on that.
Point is: LETS ACT AS CONNECTED COMMUNITY, NOT AS INDIVIDUALS.

System I have in mind is very easy to follow, I will give first example and I ask others to follow me in this!!!


Question is clear: Are ICO`s a scam?!

YES:
NO:
NOT ALL OF THEM: 1  Vote for this option.

Before 1 and a half year I had chance to invest in bitcoins and some alt-coins (in that time icos), I spent bitcoins other things, I missed my chance
to invest on time part cause I like more to gamble and I didn`t know much about trading, and part is cause many threads in that time and comments from all kind of members new and reputable ones were suggesting that this icos are scam. I missed my chance back then, now I try to have alt-coins that have future in my opinion and to invest in some new icos. That is my experience!

NOW PAY ATTENTION PLEASE- EVERY NEXT PERSON SHOULD DO THE NEXT:

-First copy/paste my poll and give your vote, and my vote stays the same, or if you vote for same just wrote next number.
-Second give your opinion and describe your experience if you have any.
-Third and not necessary if you think that I make any mistake in my comment, or I`m wrong with something please correct me.

IS IT HARD?!?! EVERY NEXT PERSON THAT COMMENT THIS THREAD SHOULD FOLLOW ME!
I will come back to see what is happening, I don`t wish to threat with giving negative trust to all who just post to be paid without reading anything!!! But if I see some very stupid comment after mine I will do that.

Did you do your own research regarding the company? Personally I haven't joined any ICOs yet since I don't have much time to read their whitepaper and everything but before you invest you should really learn about the company first. Its plans and the people behind it if you think they are responsible enough to run the company after ICO. Only invest in an ICO if you really trust the company and everything about it because by that you won't be blaming someone else if in case your investment fails.

I think the first best way to make an impression about an ICO if it is scam or not, is reading the white paper... if it is well written, with lots of details and the ICO goal is explained very clear in it. Try to do research on the Team members to see if they exist or if they were made up.

Of course not, we have a lot of genuine ICO out there.

I appreciate the way you explain yourself, it's clear you're intelligent and you definitely know what you're talking about. I agree with a number of things you say, but what you don't factor in is that technology is always advancing, now faster than it ever has, and slower than it ever will in the future. About Datum, I understand and agree with what you say, except for the fact that technology, more specifically data processing, is one of the fastest growing industries in the world. Fog computing isn't sci fi anymore, and localized cloud computing is more than capable of dealing with the amount of data that will be stored and traded on the datum network, because it simply won't come close to what facebook and other media will have to deal with, at least not at first.
The way those crypto 'banks' work isn't with centralisation of our money and finances, it's the centralisation of decentralised services, which makes it not more hackable than any other bank afaik. Also, Change is based in Estonia, which isn't a corrupt country by any standards, at least not more than other countries. Datum is based in HK, which also fights to get rid of corruption. Whether or not that claim is in fact true remains to be seen.

We both know we could discuss this topic endlessly. I have my vision and you have yours, which I respect. The fact of the matter is only time can tell. I believe in every project i've invested in and it has paid off really well. I've therefore decided to participate in both ICO's becuase I felt I could take a little more risk to potentially gain a little more profit. Like I said, time will tell.

Most of ICOs are not scam, but claims and possibilities/skills of teams are not consistent with each other. Such investments are ventures, so diversify your assets and be happy 

You can not say them Scam.
Maybe they become unsuccessful to fulfill their words after the ICO.
That doesn't mean Ico's are scam.
There are lot's of legit ICO are available
We just need few calculation to choose the right one.

There are a few differences between when Ethereum had its ICO and today:

• There are far more ICOs today than back then, so you can be much choosier
• Vitalik was co-founder of Bitcoin Magazine in 2011. This means that he was already a leader in the field, when he started Ethereum in 2014.  Most of the ICOs today are not started by leaders in this field.  Some of them have only been exposed to cryptocurrencies for a few months.
• Vitalik grew up in Canada and Ethereum started in Switzerland. Today, you have many ICOs coming from corrupt countries around the world:  https://www.transparency.org/news/feature/corruption_perceptions_index_2016  In 2014, you didn't.

Datum only needs to be a fraction of the popularity of Bitcoin or Ethereum, and it will have a bigger blockchain and have scaling problems.

Facebook, or any company, can process more data than the blockchain, because their databases are centralized. Centralized databases can process much more. That’s one of the reasons that Visa can process way more and faster than the blockchain.

I’m not invested in any coin bank for the reasons I cited:

Nobody is going to put their coins in a bank or any centralized place, for the reasons that Andreas Antonopoulos cited. You are creating a honey-pot for hackers and employees to steal.

I would not invest in Change-Bank because they lie about their team. Their “Blockchain Expert” worked as an Inside Sales Rep until 1.5 months prior. Their “Blockchain Developer” never developed a blockchain before.

Also, banking and insurance are very complicated businesses. None of the people on Change-Bank's team have experience in banking or insurance.

There will be scams from North America or Western Europe and there will be successful projects from corrupt countries. But when you invest, you have to factor in probability. The probability of scams coming from corrupt countries is higher. If you get a phishing email, it's likely from a corrupt country. It's not just scams. The probability of projects that are not well thought out, that do not fully understand the complexities of business, blockchain or technology, that will exaggerate, will be higher from corrupt countries as well.

Most of them are. Like big names presenting a white paper that is just a farce and funding big bucks with it, just because they have a reputation.
And then there's also the regular golddiggers who want to get rich to easily. These are all people who give Ico's a bad name. So, be aware and make sure not to fall into their traps.

If we take your opinion into account Ethereum should've been ignored as an ICO.

Datum isn't going to store tons and tons of data on the blockchain instantly. It's gonna grow, just like bitcoin and ethereum did. Nobody is instantly gonna jump on the datum project, it'll take time. Also, its not gonna store all data, just the data that's gonna be sold. Facebook is storing massive amounts of data and sells that data to advertisers. Are you saying Facebook is more technologically advanced than Blockchain?

Change isn't too late for the party. Are you saying centra, monaco and tenx are gonna supply the entire world of cards? I don't think so. Plus, Change is based in Estonia, which is the most digital country in the world, giving it quite a good start. About the centralisation, that's just not true. You say we need to research projects but you didn't research Change, or you're invested in either one of the three others you mentioned.

About their team, they actually do have experience, but even if they didn't that's no guarantee for failure. One of my best friends has never had a job, yet he's the CFO of 2 LLC's and 1 VC he started, all of which are succesful.

Last, being born in a corrupt country doesn't make you corrupt yourself. This market doesn't depend on its country of origin, but like I said with Estonia, being based in a good country definitely has its advantages, but it's no necessity. Look at where Vitalik comes from, one of the most corrupt countries in the world.

I agree with the others. There are many scammy icos out there, but there are many legit ones too. You need to do your research and proceed with caution. This is a high risk high reward scenario and you are gambling with your money. Take care.

CarTaxi got a 2.9 out of 10 rating:  https://hacked.com/ico-analysis-cartaxi/  I’m scratching my head trying to figure out why a blockchain is needed to tow cars.

In order for an entity, like CarTaxi, to pay dividends before it is making profit, let alone in operation, then it is a ponzi scheme.


Augur had Vitalik Buterin on their team. Vitalik is the best person in the entire crypto industry that you can add to your team. After raising millions and after two and a half years, all they’ve released is a simple beta that is barely usable.

There are a number ICOs, that haven’t raised anything yet and they already have more software built. Enjin, Funfair and Stockbet already have much more than Augur’s beta.

If anyone understands blockchains, they would know that the Datum team consists of idiots.

Bitcoin is already having scaling issues with its 120+GB blockchain and it’s only storing small numbers for each transaction. Ethereum’s blockchain shot past Bitcoin’s and is approx. 200GB. Scaling is Ethereum’s biggest issue. It stores only smart contracts.

Datum is like ARToken, which wants to store TONS and TONS of data on a blockchain. Good luck with that. Its blockchain will need to be hundreds of Terabytes. Who is going to run its full node? You?

Change-Bank is way too late to the party. Monaco, TenX and Centra are doing debit cards as well.

Also, nobody is going to put their coins in a bank or any centralized place, for the reasons that Andreas Antonopoulos cited. You are creating a honey-pot for hackers and employees to steal.

Also, they lie about their team. Their “Blockchain Expert” worked as an Inside Sales Rep until 1.5 months prior. Their “Blockchain Developer” never developed a blockchain before.

Also, banking and insurance are very complicated businesses.  Nobody on Change-Bank's team has any experience in banking or insurance.

The easiest way to filter out the shit and scams is to use 3 filters:

1)  HAS THE TEAM BUILT ANYTHING THAT WE CAN USE TODAY?  If not, ignore.  Everything else is useless.  There have been many projects with impressive teams, fancy pretentious titles, detailed roadmaps, cool videos and lots of social media activity that have raised millions and still have not released any software.  Let me know if you want examples.

2)  IS THE TEAM FROM A CORRUPT COUNTRY?  If so, ignore.

https://www.transparency.org/news/feature/corruption_perceptions_index_2016

3)  RESEARCH THE PROJECT and don't be suckered by the fancy animations and videos.

And don't be scammed by comments from users who are interested in pumping and dumping.