Topic: Good ICOs should be protected from dump - page 17. (Read 23377 times)
All these won't prevent good ico from dumping in this bear market, the reason why project both good and bad project dump is due to bear market, demands are not huge and there are too many seller. The above conditions you mentioned didn't affect market when crypto space was witnessing a big boom.
You can't simply mess with the open market.
Bancor created a system which would prevent dump but at the end it failed a lot.
Bancor created a system which would prevent dump but at the end it failed a lot.
That will be the good thing and should be really peotected from dump , this to protect the value of the token from falling becuse of making it dump, let the new token of the new project will be able to pump up to the good price in the crypyocurrency market so that it will not become a shitcoin.
If they pay out marketing budget and bounties with fiat or eth instead of their tokens that can prevent dump mostly.
But they don't want to spend that so we ar seeing dumps all the time.
But they don't want to spend that so we ar seeing dumps all the time.
2. KYC should be made mandatory for all bounty and airdrop participants in order to avoid multiple accounts. The kyc should be announced
3. Participants should be made to complete the remaining process of their registrations on the project's website, where IP can be detected. Multiple accounts can also be prevented this way.
2. KYC indeed reduces the cheating behaviors but it should be used when it's necessary. If KYC is mandatory, bounty hunters are possible to be stolen their information by scam ICOs. So, don't abuse KYC.
3. Changing IP is not a difficult matter. So, it will not work.
KYC for bounty and airdrop participants will not protect an ICOs against dump because in the current market, even well known altcoin that is part of the top 20 in coinmarketcap also experiencing a price dump. Even an altcoin that were newly listed from a well known exchange was being dump by their investors and bounty hunters. Why? Because every traders have the same rule, sell high and buy low.
It is true and I agree with you. These are the most important steps to make from the team members to protect the project from the first listing dump. It would be a great idea to pay to the bounty hunters with stable coins or with more stable crypto currencies to avoid the price dump.
I personally have nothing against all items except KYC. it’s not because I don’t want to throw off the scammers, but because I don’t want to send my personal data. now very often this data is used for other purposes and can be sold
On an ideal world some of these points would definitely be true, but let's see:
- most ICOs are scams or failures... the first hard step would be to determine which ICOs are trustworthy... and that is definitely not easy... some scams were managed by credible teams...
- with your proposal of kyc and ip detection, there would be an amazing amount of personal info collected, that would need to be safely stored... this would become more dangerous if you fail on identifying the "good ico"
- listing is another problem as the reputable exchange sites usually cost a lot of money....
well, I think the two major problems here refer to ICO scams and bounty hunter scams.... the ICO ecosystem will have to change in order to rule out both of these without hurting the others...
and ICO rating sites receive money from the projects in order to rate them... so that is not a good principle...
- most ICOs are scams or failures... the first hard step would be to determine which ICOs are trustworthy... and that is definitely not easy... some scams were managed by credible teams...
- with your proposal of kyc and ip detection, there would be an amazing amount of personal info collected, that would need to be safely stored... this would become more dangerous if you fail on identifying the "good ico"
- listing is another problem as the reputable exchange sites usually cost a lot of money....
well, I think the two major problems here refer to ICO scams and bounty hunter scams.... the ICO ecosystem will have to change in order to rule out both of these without hurting the others...
and ICO rating sites receive money from the projects in order to rate them... so that is not a good principle...
These are good points you made there, but additionally i believe there is a striking point you left out- the community, most times the community pressures the project team to list even when there is no product they expect to get rich quick, which doesn't happen even in normal physical business....
We only have one problem. How does the ICO project show that it is authentic and reliable? I believe that ICO projects that can solve this problem can get the best attention and development.
Yes, it sometimes amazes when I see some spreadsheets containing thousands or participants for content creation and social media bounty, where most of them are proxy accounts, copy and paste of contents of others. In this case there are some managers who care less and at end award those fake and plagiarised contents. I believe the solutions you provided will work.
Sometimes, project promoters also cause a lot of dump. Take for instance what happened to projects like OMX, FTT and others.
Sometimes, project promoters also cause a lot of dump. Take for instance what happened to projects like OMX, FTT and others.
After careful research, when you see a good ICO, you would know and there will be no doubt about it.
I have noticed that good ICOs also dump after listing, competing with crap ones that have no definite direction, but to cart away funds.
There are ways in which they can be protected and prevent unreasonable dump in price. Some of which are:
1. They should be managed by credible and trusted managers, managers that already have good reputation on the forum, else the trust might not be there.
2. KYC should be made mandatory for all bounty and airdrop participants in order to avoid multiple accounts. The kyc should be announced
3. Participants should be made to complete the remaining process of their registrations on the project's website, where IP can be detected. Multiple accounts can also be prevented this way.
4. Listing should be done on reliable and reputable exchange sites.
5. There should be regular and prompt communication with the community.
6. Projects should maintain and comply to their roadmaps and if there is amendment, the community should be made to know, with concrete reasons.
These are just few among so many other solutions, but if this few are integrated into the system, i believe dump can be minimized if not totally eliminated.
I have noticed that good ICOs also dump after listing, competing with crap ones that have no definite direction, but to cart away funds.
There are ways in which they can be protected and prevent unreasonable dump in price. Some of which are:
1. They should be managed by credible and trusted managers, managers that already have good reputation on the forum, else the trust might not be there.
2. KYC should be made mandatory for all bounty and airdrop participants in order to avoid multiple accounts. The kyc should be announced
3. Participants should be made to complete the remaining process of their registrations on the project's website, where IP can be detected. Multiple accounts can also be prevented this way.
4. Listing should be done on reliable and reputable exchange sites.
5. There should be regular and prompt communication with the community.
6. Projects should maintain and comply to their roadmaps and if there is amendment, the community should be made to know, with concrete reasons.
These are just few among so many other solutions, but if this few are integrated into the system, i believe dump can be minimized if not totally eliminated.
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