Topic: Don't blame the idea(ico) blame scammers - page 3. (Read 767 times)
the ICO concept is actually very good. due to lack of supervision and regulation, many people abuse it. we cannot blame and stop trusting ICO. and there still real ICO running out there waiting for invesment. just be careful and dont to get worse because of the scammers actions.
Once anything involves money it takes a very large effort and integrity for greed not to step in. Sometimes it starts as little as I will take 5%/and it won't affect the project to larger % that will. In any group there is a Judah, he or she might be the one to scam the project that doesnt ran others had the intention. We should just live by integrity.
Exactly not all the ICO's are bad, Most of it are Good projects too, But due to some greedy people ICO's was painted with controversy and become bad in the eyes of the investors. Thats why in my own opinion the idea is not bad although that it has cause some damage in crypto-space i still believe that its not too late to make it right.
Okay I am also guilty of that. Maybe because I am so dragged by the hype of too many scam ICOs.
I didnt even notice that I am already blaming the ICO and not the one who creates projects using ICO to scam people.
Yeah, that is correct. I am also a victim of one. Pretended to be bankrupt although I already knew that something is being brewed for evil deeds.
I didnt even notice that I am already blaming the ICO and not the one who creates projects using ICO to scam people.
Yeah, that is correct. I am also a victim of one. Pretended to be bankrupt although I already knew that something is being brewed for evil deeds.
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You give people too much freedom without boundaries then they will misuse it. ICO was a form of freedom and the cryptocurrency community misused it that's why we now have IEO which has less freedom than ICO as some exchange now have a say over how much you can invest, when to invest etc I blame the idea for not providing security majors to tackle the scam. You can't blame scammers as they're like change which is constant for better improvement on a system or idea without the scammers more brainstorming via improving on ICOs won't have been developed so I blame the idea for not been close to perfect or flaws free although I get what you're trying to say.
Am making this thread because of the numerous wrong perception seeing. So people are actually castigating cryptocurrency and initial coin offering idea for loses the made through it rather than really seeing the cause of the problem.
The cause of the problem is simple, anyone who can convince someone to invest money can get investors from around the world without even having a working model hence it will attract scammers just to take advantage of the situation, it is a noble thing but the idea of crowd funding for a project is nothing new and the blockchain enabled everyone to participate so easily and that attracted scammers and other trail and error individuals who wanted to make money with other peoples expense.PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it
To tackle the issue, the people who collect these amount of money in the name of projects must be accounted for their trail and error case and if their project is not successful they must return the amount and not let them keep the money they earned through the crowd funds and it will reduce fake projects and scammers. PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it
We are waiting for your suggestions.ICO nobody kills, just many investors have become smarter and more cautious.If the project and the team are shitty no one will give them money.That's all. Scammer is a part of this cryptoworld we cannot blame those people thinking that ico is another type of scam becausenof what happen last year the number of scam icos are being raised and theres a lot of people being scam the current situation of ico are so bad you will count the real potential project and most of them are now switch to IEO.
we have various character from market participants.some of them be honest man in earning money by investing or maybe trading.but for people that have bad charater they will doing bad things by creating fake projects or maybe scamming other people.
Units create a masterpiece. A huge number of people in the pursuit of profit spoil the idea. It happened with ICO. They want to do the same with cryptocurrency in general.
Scammer is a part of this cryptoworld we cannot blame those people thinking that ico is another type of scam becausenof what happen last year the number of scam icos are being raised and theres a lot of people being scam the current situation of ico are so bad you will count the real potential project and most of them are now switch to IEO.
The problem with the ico is that it makes it a lot easier to scam people. Anyone can copy a whitepaper, create a flashy website, and buy profile photos on shutterstock, job done!
that's why we must aware about that and when we find a suspicious ico and just try to create awareness to the community. The scammer will be used the fake accounts to spread lies among the community. I have experienced with the scam icos so many times. But ieo was giving more advantage to prevent it. We should do various analyzation to the team member or any technical things related to the ico.
You are right, scammers are to be blamed for all the losses investors have incurred over the years as a result of investing in ICO. Nothing is actually wrong with ICO but scammers have given it a bad name.
That's exactly the point am trying to make and not only have scammers gotten hold of the initial coin offering but are systematically invading cryptocurrency as a whole and this is affecting the adaptation of cryptocurrency globally But nowadays, ICO's are becoming the house of scammers because they can raise money and just stole it from the investors, we can't blame people about saying icos are scam. Its faulty and not perfectly safe it has flaws to be taken irresponsibly
There is one action that this forum is having to address potential ICO scammers. The scam accusations board. Those who are doing their research and truly care that someone might be scammed are posting their threads in that section. The team/project involved can always answer those allegations and assess for ourselves who is saying the truth. Though not all scam or crap projects have their thread, still that section is very helpful if you want to check a particular project if they have issues unresolved.
But nowadays, ICO's are becoming the house of scammers because they can raise money and just stole it from the investors, we can't blame people about saying icos are scam. Its faulty and not perfectly safe it has flaws to be taken irresponsibly
The way to collect funds for ICO is a very interesting idea, but unfortunately it is true that scammers use this method. Perhaps that is why a new fundraising method has emerged - IEO. Everything in this world is evolving, improving and changing its form, so the same thing happened with ICO, which evolved and turned into IEO. But this is good, because the cryptocurrency market began to recover and promising projects collect the necessary amount of funds.
And what you are missing is that the ICO scam cancer is already spreading too fast ,I don't blame those that looks ICO just as bad as anything ,only very few ICO projects are real
Am making this thread because of the numerous wrong perception seeing. So people are actually castigating cryptocurrency and initial coin offering idea for loses the made through it rather than really seeing the cause of the problem.
Initial coin offering is one of the great ideas in cryptocurrency and we know that it was efficient in 2017. Through initial coin offering some great coins of today where launched people keep overlooking the good attributes initial coin offering has offered but are busy bringing it down the more and making all hope of initial coin offering being as it once was hopeless.
It's too bad Scammers stated getting involved in initial coin offering and projects without logic and idea also got involved but this doesn't mean good and real project are not involved or want to get it but the stigma had made developers develop cold feets
PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it
Initial coin offering is one of the great ideas in cryptocurrency and we know that it was efficient in 2017. Through initial coin offering some great coins of today where launched people keep overlooking the good attributes initial coin offering has offered but are busy bringing it down the more and making all hope of initial coin offering being as it once was hopeless.
It's too bad Scammers stated getting involved in initial coin offering and projects without logic and idea also got involved but this doesn't mean good and real project are not involved or want to get it but the stigma had made developers develop cold feets
PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it
I am agree, we should not blame ICOs system but the scammers behind scam project. ICOs should be regulated by government because its about investment climate and we knew that in 2018 many ICOs project are scam and many investor trauma and right now they prefer invest on IEO becauase its more legit and get listed soon after IEO end.
i don't see anything remotely great about initial coin offerings and it has nothing to do with scammers. scammers are everywhere, they are even creating shitcoins without ICO but that doesn't make cryptocurrency bad.
ICO is bad by nature because it is fund raising for an open source project that is a copy of the same technology used by others and it is suddenly giving a huge amount of money to developers for doing practically nothing. specially when they are releasing a token not a stand alone cryptocurrency that doesn't rely on another platform (like ethereum platform) to run.
if you also check the success levels of ICOs versus normal cryptocurrencies with no premine or ICO you can see that the later group has a much better success. that is not by coincidence, that is because of the flaws of fund raising.
ICO is bad by nature because it is fund raising for an open source project that is a copy of the same technology used by others and it is suddenly giving a huge amount of money to developers for doing practically nothing. specially when they are releasing a token not a stand alone cryptocurrency that doesn't rely on another platform (like ethereum platform) to run.
if you also check the success levels of ICOs versus normal cryptocurrencies with no premine or ICO you can see that the later group has a much better success. that is not by coincidence, that is because of the flaws of fund raising.
Depending on the project some project are not real the intention of many project is to scam so more scammer will be attracted to use the platform.
The problem with the ico is that it makes it a lot easier to scam people. Anyone can copy a whitepaper, create a flashy website, and buy profile photos on shutterstock, job done!
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