Topic: ICO's, Airdrops, Lies, & Corruption (Read 175 times)

Agree with tk808. I also think that in the uncertain future, a lot of junk COINS or projects will become "0" and leave the market. Everyone wants to be a millionaire, but apparently that time is over.

For every 100 airdrops, there is most likely 1-2 that will be anything worthwhile. I think i'm going to start really looking into airdrop's and tweeting those potential few that will have any merit in the future. Airdrops like Rebellious for example, was among one of the most solid coins to airdrop this/last year.

Aside from that, you're correct on several of your points. We are just in a phase where many think they can enter and become a millionaire overnight, which is not the case. There was a time, before the masses poured into crypto, where this would of been possible, but every coin is starting to meld with eachother and become indistinguishable.

The market has essentially become oversaturated by utter trash and garbage. It's becoming increasingly difficult for myself, and i suspect others, to find those crypto gems.

This issue has give a lot of concerns to many that have been into crypto for quite some time,as regards what will be the fate of cryptocurrency in near future. Every time, every day, we see new projects come up in form of ICO. The worst part of it are the airdrops. What happens most time is that those who bring up one airdrop or the other just end up using the community to achieve their aims.
I was formerly a fan to airdrop. All i noticed was that most of the airdrop tokens i got and that i decided to hold are no more trading at the prices they traded initially - prices dropped drastically. The worst part of it is that some are even dead.

I think is only a concern to me, the whole space has changed dramamtically since the rise in the number of ICOs entering the space, at times in a week close to 10 ICOs will start their token sale and the idea now of raising money from private sale and giving out free tokens through airdrops is on the rise, I think people need now to look into the foundation of this space, which is mining but people are looking only for free money

Well there are lot of promotional styles when it comes to attracting consumers or customers, like when you are selling wines, free tastes are necessary, when you introduce new noodles then sample is needed, when you sell for tools then free demonstration is shown, likely when you want others know and like your token then airdrops are necessary too!

This thread isn't getting nearly as much attention as it deserves.  Largely, I suspect, due to the fact it's being drowned out by all the marketing and hype for tokens of questionable legitimacy.  

Welcome to Altcoin Discussion, where no one actually wants to have a discussion about whether they should be launching a coin to begin with, or if that coin has any discernible purpose or reason to exist, or if it's coded to such a poor standard that it's full of bugs and security risks.  None of that is important, just hand over your money!  

I believe the market will eventually self-regulate.  For example, I have already given up on damn near all ERC20 tokens.  It's too easy to start one.  ICO's in general can be a great way for a small startup in crypto to get going.  The only way I would touch any ICO now is if they announced in the past and if the team members have an active and verifiable media presence.  There are exceptions to this, no one knows who JL777 with Komodo is but he has the credibility because he has been around for so long and a proven track record.  If the team is made up of all people that don't give their last names or use an alias that no one knows then I bail. More people will catch on to this I hope.  


Edit:  About it being too easy to start up an ERC20 token, this will force legitimate developers to actually select a coin-type and create their own wallet, which takes resources and skill.  This is good.

The current climate of crypto's launching and the future outlook is on a steady decline, due to unfavorable actors attempting to launch every breed of crypto. I'm really hesitant to acknowledge any ERC20 token as a legitimate token, because there are few-to-none that are.

Individuals here should be questioning the legitimacy of these types of tokens launching, seeking to find a niche in the real-world. For the most part, coins have moved away from trying to push forward the sentiments of Satoshi, making coins/tokens for people, and now are making coins/tokens for X industry, whereby they have no regards to the massive undertaking against real-world corporations and regulations. There are 0 ICO's that have actually embedded themselves in a real-world industry, because, frankly, ERC tokens and blockchain technology can be implemented by anyone. And if any legitimate corporation decides to implement a blockchain, they'll invest into R&D and create it themselves, pulling the best of the best talent out of the crypto world. In essence, almost all ERC20 token launches are bullshit, and are just quick cash grabs. There are very few that are legitimate, and i assure you those are not the ones being talked about.

In regards to the airdrop climate, it's turned into a marketing gimmick. The airdrop coins that do seek to giveaway the majority of there tokens are plagued by mishandling of information or forced-mass spam campaigns to promote their coin. Once that coin is listed, the end-goal has been achieved. All users and development efforts cease and whatever is left of the coins value decreases to 0. Rinse and repeat.

These are not blanket statements, this is just a basic summary of the current climate of cryptos. Individuals here are uneducated about what actually occurs behind the scenes or the scheme's they actively promote and invest in. For those reasons, the new crypto climate will continue to degrade. Coins that will achieve top-100 rankings will be significantly reduced in the coming years.

But this entire scenario was inevitable, everyone is out to enrich themselves as quick as possible, by any means necessary. Human nature.