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Topic: ICO standard for absolute investor protection ?? (Read 871 times)

member
Activity: 700
Merit: 11
December 09, 2019, 03:33:23 AM
#44
Perhaps we should look away from ICO or at least, stop calling it ICO as the name has been tarnished with the mega scam of many alt projects in 2018. By the way, you can take a look at IMO as a more viable means of raising funds for projects and protecting investors funds
legendary
Activity: 3276
Merit: 1029
Leading Crypto Sports Betting & Casino Platform
There is really a need to put some regulation to ICOs. This has become more necessary. It is needed not only to protect investors but to protect the entire crypto itself. If the influx of ICOs that are scams will continue, the established reputation of crypto will be severely affected and might even appear scam in general to people. Something has to be done. 

to minimize the incident we must provide the regulation with firm action to every Investor and member. with this will have a positive effect on everyone.
Regulation is not yet needed but for the verification purpose of the team to prove if that platform has already created by the same owner was not faking his identity and i thought that's good enough.
When icos implemented some important thing as the standard in the past and that is helping a lot right now, just like
1. Escrow
2. Proof of identity by the team
3. 3rd trusted party to audit the platform

The verification has already done by investors that what we have called that as KYC verification is really suited to be used by the team too
newbie
Activity: 28
Merit: 0
The malware problem is much bigger than it seems. Many well-known companies, manufacturers of smartphones build various software, which over time will begin to give you constant advertising and collect your data for unknown purposes. Therefore, it seems to me when using cryptocurrency wallets and services, I first need to look for all the information about cases of infection on your phone and reset all settings, trying to minimize the methods of information leakage.

two-factor identification is a great idea, but you should not trust and save passwords in the phone. Regular notepad writing can be reliable if you are not inclined to lose paper. But about the fact that it is better to use vpn when trading, I hear for the first time. Will crypto-exchanges and wallets not ask for your location? In addition, a good VPN can also have flaws in the phone due to the resale of data.

I would recommend to all people who plan to use cryptocurrencies and engage in investments to get acquainted with the materials on the taklimakan platform. There are trading tips and analytics here, but the main thing is training articles. Because how many posts have not written about wallet security, users make the same mistakes when counting the number of hacked accounts. It’s better to get all the knowledge yourself and continue to work with crypto

I use the words of my favorite song for the password, this works great so as not to forget the password and also it is complex enough to pick up the key to it. Safe storage of cold keys, preferably on removable media, is also a simple and effective way.

people are not hacked because they have simple code, but they are easy to manipulate. The human factor is fundamental to scammers. Many are tempted by offers on shares where they offer additional benefits, but in this way users can open access to their data so that malicious services copy the most important information and gain control over your accounts
newbie
Activity: 16
Merit: 0
The malware problem is much bigger than it seems. Many well-known companies, manufacturers of smartphones build various software, which over time will begin to give you constant advertising and collect your data for unknown purposes. Therefore, it seems to me when using cryptocurrency wallets and services, I first need to look for all the information about cases of infection on your phone and reset all settings, trying to minimize the methods of information leakage.

two-factor identification is a great idea, but you should not trust and save passwords in the phone. Regular notepad writing can be reliable if you are not inclined to lose paper. But about the fact that it is better to use vpn when trading, I hear for the first time. Will crypto-exchanges and wallets not ask for your location? In addition, a good VPN can also have flaws in the phone due to the resale of data.

I would recommend to all people who plan to use cryptocurrencies and engage in investments to get acquainted with the materials on the taklimakan platform. There are trading tips and analytics here, but the main thing is training articles. Because how many posts have not written about wallet security, users make the same mistakes when counting the number of hacked accounts. It’s better to get all the knowledge yourself and continue to work with crypto

I use the words of my favorite song for the password, this works great so as not to forget the password and also it is complex enough to pick up the key to it. Safe storage of cold keys, preferably on removable media, is also a simple and effective way.
newbie
Activity: 68
Merit: 0
I like most of your suggestions but without regulations by legal entities, it is almost not possible to entirely stop scam ICOs because there is still huge money to be shared in the market.


yes, but this standard will help people easily distinguish scammers from honest projects
full member
Activity: 448
Merit: 100
I like most of your suggestions but without regulations by legal entities, it is almost not possible to entirely stop scam ICOs because there is still huge money to be shared in the market.
legendary
Activity: 1330
Merit: 1003
There will never be a proper ICO standard. Sure there will be ICO standards left, right and center, but they will all fail in the end. There cannot be regulation of ICOs the way they are being performed right now with ERC20 tokens being created. The institutions that are coming into the frame want to regulate ICOs, but there won't be the same valuation as current ICOs, no matter how bad they want to tax funds raised.
legendary
Activity: 1386
Merit: 1016
good idea, but who would enforce? Local authorities?

This is what is happening to China. They are banning ICO and exchange. But there are rumors that they will slowly allow exchanges and ICO as they have ironed out more rules and regulations.
sr. member
Activity: 478
Merit: 250
they may not started with intention of scamming, they just do not understand how it could work properly for long term, and end up failing to do what they really want to do.  bottom line, using ICO to raise fund through crypto is not an easy way to get free money.  It just a more effective way of getting money, but investors at the same time do expect you to be doing exceptionally well, and effective in short time.
newbie
Activity: 68
Merit: 0
good idea, but who would enforce? Local authorities?


Thank You  Smiley,


NO! If the cryptomarket is controlled by the authorities - in 10 years it will not differ in anything from the fiat market. The adoption of the standard is the most democratic way.


It is necessary only to popularize the standard. New projects may not use it - but this will arouse suspicion. Thus, over time it will become the de facto standard.

full member
Activity: 228
Merit: 100
good idea, but who would enforce? Local authorities?
hero member
Activity: 812
Merit: 500
as for me
Quote
4. Ability to return invested funds in the voting of 61% of participants.
is too much a little bit...
when you start a new busines you can't be sure that you will get any money back... only if you will put 60% of your meney in a wallet and use only 40% that are left.
sr. member
Activity: 2352
Merit: 245
There is really a need to put some regulation to ICOs. This has become more necessary. It is needed not only to protect investors but to protect the entire crypto itself. If the influx of ICOs that are scams will continue, the established reputation of crypto will be severely affected and might even appear scam in general to people. Something has to be done. 
newbie
Activity: 68
Merit: 0
These are some pretty good valid points and if you can really do a lot of good with this. It is really bad that it is uncontrollable but the only way for now has been for the investors to know how to fish out the project they invest in which is still not easy.

With some of the regulations coming up gradually for ICOs anyway, I am sure some lazy investors who do not like doing some research on their own will find it easy.

The whole scam shit is really giving the whole cryptocurrency community a bad name as so many people looking for a cheap project since bitcoin is expensive and most of them being newbies, always end up being thrown into the mouth of sharks.



Thank you, I think soon it will be time to make a poll and vote in this topic
legendary
Activity: 3052
Merit: 1188
These are some pretty good valid points and if you can really do a lot of good with this. It is really bad that it is uncontrollable but the only way for now has been for the investors to know how to fish out the project they invest in which is still not easy.

With some of the regulations coming up gradually for ICOs anyway, I am sure some lazy investors who do not like doing some research on their own will find it easy.

The whole scam shit is really giving the whole cryptocurrency community a bad name as so many people looking for a cheap project since bitcoin is expensive and most of them being newbies, always end up being thrown into the mouth of sharks.
sr. member
Activity: 1470
Merit: 325
There is so many ICO that is really hard to find a scam and for sure need to find solution to stop this.

I personal stop to buy ICO on eth and other platform.

I will buy only ICO on NEO platform because they don't allow ilegal or scam ICO build on their platform.

thats not necessary a solution,

i mean i am planing currently to use ethereum because its simple,

but neo might be exclusive, or charge fees, or they simply just seek to give way to funds and startups they own themselves.

i have no idea about that,

if you folks want i can also change to neo,

and i will abandon ethereum if the transaction costs get mad, i am seeking a long term quality product, i cant have ether speculants messsing up the transaction costs.

however in germany the laws are quite strict regarding financial businesses, to strict actually it can takes decades to get a license because the burocratic investor protection is big that it is extremly mad and expensive and you cant start a new company anymore with a result that the system protects mainly the established rich, and owners, enslaving the rest in corporations those own.

regards
full member
Activity: 200
Merit: 101
There is so many ICO that is really hard to find a scam and for sure need to find solution to stop this.

I personal stop to buy ICO on eth and other platform.

I will buy only ICO on NEO platform because they don't allow ilegal or scam ICO build on their platform.
sr. member
Activity: 1470
Merit: 325
Hi  Smiley.  I propose to develop a standard (list of rules) that guarantees absolute protection of investor's funds.

BPI,    Blood Pact ICO standard - this name seems to me very suitable)

ok lets break this down, for my ISO i am going to take you serious on this "blood pact" despite this name sounds like from a dark video game for me i would rather suggest a name like "Gerobits & Co LTD risk estimation service for ICOs and ISOs"

Quote

1. Access to collected funds is possible only with the permission of the participants. That means, the team creates an application for the withdrawal of part of the amount for the stated purposes, the support of a specified number of participants is necessary for the transaction. (Implementation of escrow without intermediaries). Either from the opposite, the team creates an application for withdrawal, which will be executed in 5 days if 51% of the participants do not block it.


ok i hereby apply for your bloodpack ICO standard however my project is an ISO, i decribe my token as sources and entities not as cash or coins, because i dont want to be identified with unsustainable low quality crap scam and empty IT systems, i work substantial longterm oriented and strategic, i am a university great real estate and industry economist and engineer, i cant just do a hit and run, my goal is not the ICO/ISO my goal is to uplift and develop this brand

Quote
2. The team award is established by the community.

what do you want me to do for this paying money to the forum so my banners are everywhere? having a team of 20 smiling marketing guys?

thats good to reach people but its not a sign for sustainability.


Quote
3. The team must identify their wallets in the newly created crypt (you can see how much your own money is invested, how much the creators believe in the project and whether they are going to run away from the sinking ship like rats.


ok we can discuss that, i am creating a long term alternative to cryptocoins i call them cryptosources,

my goal is the have a systematic infrastructure beneficial alternative, for cryptocurrencies, so nation state banker cartels wont be able to hunt Cryptocurrencies with good reasons anymore.

Quote
4. Ability to return invested funds in the voting of 61% of participants.

my token is 75% redemable for value generating sources that are strategically carefully chosen
i plan to increase efficiency later.
but the core goal of this is the establish this solution of ours/mine as a kapital solution people can rely on.

Quote
I think the introduction of such principles will radically change the picture on the ICO market. If the project declares support of the Blood Pact ICO principles - it can be trusted, it is not worthwhile to look at others.

it will create the foundation of what we had before, in the financial system

mathematics, stochastics, rules regulations, huge industry with consultants and its inefficiency, then people will realise why jews are so successful and put their money into them (like maddoff)
till those maddoffs are fed up investing.

Quote
The price of the token from the usual ICO in the first stage depends only on the participants' confidence in the team, they can already forget about the money, they have no control over them, therefore, to say that the cost of the new token is supported by 1000 of collected broadcasts is incorrect.

In the case of Blood Pact ICO, the credibility of the team is good, of course, but the new tokens are really supported by a kind of "gold and currency reserve" - ​​which, here it lies and over which investors have control. This radically changes the picture, the token receives real security.

the idea is that if the project team says - we use the BPI standard, then it's 100% reliable guys

maybe I missed something, if you think that the above principles do not give absolute protection to the investor - tell me how they can be circumvented and offer your additions  Smiley



i am suspicious about teams that push around their internal responsibilities.
sr. member
Activity: 1470
Merit: 325
belive me folks that "absolute" investor protection will also lead you to be ignored by people that have simply no time for you

regards


sorry, but I did not understand you. Can you explain more?

if a system is too overregulated and complex with to many consultants statisticans like the current wallstreet system/ city of london /frankfurt main/ moscow / shanghai financial district it becomes unefficient and expensive itself.

it start to get a communist style feeling and many smaller investors stay out of it becomes a place for giant corporations and their billonaires, and the mega asset managments.

they will not do smart microinvestments with creative applications but they wil build communist style cash cows everywhere, because they are too big, and the financial system is too paranoid.

this is currently the case in the world, wallstreet bankers have become communists. they lend mainly to each other and other huge corporations where they are sitting inside.

but you dont have to be afraid about that currently, the blockchain financial system however will develop itself into that direction.

only huge corporations will then be able to fill out those higly complicated forms thick like a bible,

thats the issue in wallstreet and city of london currently, so they are now gambling with mathematic models with stocks and cryptocurrencies while living on the back of the popluation when they lend money to each other.

young enterpreneurs are fed up working with them and rather prefer creating new currencies. thats what wer see with blockchain tech


its just a sidenote regarding the word "absolute" protection

there will be always a rest risk but you can reach the status "riskaverse"

regards
newbie
Activity: 68
Merit: 0
belive me folks that "absolute" investor protection will also lead you to be ignored by people that have simply no time for you

regards


sorry, but I did not understand you. Can you explain more?
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