Topic: ICO's killing crypto (Read 3638 times)
Too much scam has divorced, normal ICO is harder to find among a large number of projects, it is necessary to complicate the processes of ICO and to reconsider the conditions for obtaining smart contracts
ICOs are not killing crypto, they actually keep it alive. For crypto to advance and go mainstream we need good projects and good ideas - just take a look at Powerledger, it just started a month ago and already got government grants.
What is killing crypto are ICOs with huge market caps that fail in the end, but also all of the useless BTC/ETH forks (known as money grabs). If we could somehow forbid or just start ignoring all of the forks, there wouldn't be bloodbath in alt market.
What is killing crypto are ICOs with huge market caps that fail in the end, but also all of the useless BTC/ETH forks (known as money grabs). If we could somehow forbid or just start ignoring all of the forks, there wouldn't be bloodbath in alt market.
News from mainstream medias were influenced by the people who joined the scam ICOs and lose their money thats why in the eyes of other people crypto is a scam but its not.
The movement in cryptocurrency prices in the past month confirm that this thread is dumb.
Who decided that btc is the only viable solution. Perhaps from a these new coins the future ones will rise on the wishes of the old coins. Nobody knows really who will win in the long term.
Is it true? I think that it is not. In fact, ICOS are making the cryptocurrency world alive. That is my interpretation, don't mistaken it. That is one of the things to check if the crypto is still alive.
have want to destroy the ICO but i think killing of ICO are not good idea's because the coins is came from the ICO to become potential coins and to row in the altcoin to become valuable.
if there is many ico's scam, it can kill the world of cryptocurrency slowly, so it is unfortunate indeed there are some unscrupulous people doing it. investors should also be protected and there are even more stringent regulations to keep this period still going on
i dont think so that killing crypto as investors we have to choose where we invest , even we invest in bad icos this is not killing crypto is our responsibility to make a good research so we limit the scammers icos
Recent news of the imminent closer of many Chinese exchanges is the direct result of them dealing in ICOs, I've been shocked for the longest time other countries have done so, allowing ICO's to fly under regulators radar, however its only just a matter of time.
Most of the governments are too slow in terms of legislation and regulation. So it will inevitable happen, the only question is when.
Only bad ICO is hurt BTC.
BTC is too sensitive.
Just 1 great ICO will bring back BTC
Maybe you can name TOP 3 project that could do that. I am newbie but in my opinion those are nice one: Enigma ICO, UnikoinGold, Confideal BTC is too sensitive.
Just 1 great ICO will bring back BTC
no one can kill crypto because crypto has been born in trading and crypto success is usability as currency and accepted as currency. now ICO is very popular but you have to be careful in choosing it because many ICO is a fraud.
I dont think ICO is killing crypto, at the first place, crypto is popular now because of ICO. Although we can deny that their are many scam ICO.
ICO's were a way of fund raising through the digital platform. Here nothing needs to be complicated, because very few go as a scam making an bad impression over the entire cryptocurrency. In my view it also supporting in the growth of digital currency, because lot of people come to know about bitcoin after knowing about ICO's.
Ico gives newer investors a chance at Huge gains given they do there research by weeding out the scams.
Without ICOs, there would be no Ethereum. Without Ethereum, the crypto market wouldn't have grown so fast. It's attracting a lot of capital right now.
Ethereum is facilitating a wave of shitcoins and most will never see the light of day. The coin itself is a shitcoin that can't even perform a basic function of a cryptocurrency i.e. multisig. The only thing propping it up is the perpetual token sale whereby investors have to buy ETH to buy said token. It was setup to be a crypto ponzi scheme to attract regulators to this market and that's essentially what it is - a trojan horse.
https://news.bitcoin.com/ethereums-parity-client-users-lose-millions-multi-sig-hack/
It's backed by big bankers from Wall Street who have developed an automated shitcoin factory with ETH as the center spoke of the wheel. A nice PSD will get you 30 million in funding sometimes more. Vitalik Buterin is nothing more than a front man for the big bankers. They figured he was some kind of authority in Bitcoin since he co-founded bitcoinmagazine.com so they hyped him up as the next Albert Einstein and all the idiots on Main Street ate it up.
ICOs have been around way before Etheruem was even an idea. The reason why it didn't attract regulators is because it required a minimum technical understanding of the Bitcoin protocol to launch a cryptocurrency to hold a premine for the ICO. Now every dip shit in silicon valley and on Wall Street is trying to launch their own token through it. Some even promoting integration with VISA and Mastercard.. Bitcoin and cryptocurrency was never meant to co-exist with VISA or any other payment processor for that matter - it was meant to replace it.
Satoshi Nakamoto: "Bitcoin can scale larger than the Visa Network"
https://bitcointalksearch.org/topic/satoshi-nakamoto-bitcoin-can-scale-larger-than-the-visa-network-1391350
Silicon valley and wall street are co-opting Satoshi's movement to co-exist with the current system instead of replacing it. If it keeps going down this road this movement will die and be remembered as a tulip bulb bubble. By investing in these ICOs and supporting Ethereum YOU are responsible for contributing to the downfall of this legendary movement that has the potential to completely disrupt the central banking system and the debt slavery cycle that has imprisoned mankind for over 100 years.
Shitcoin projects like Civic who are promoting identity based cryptocurrency as a de facto standard are also contributing to the downfall of this movement. I wouldn't be surprised if that is a government project meant to derail this movement and discredit Bitcoin and it's counterparts. Why do we need identity based cryptocurrency to replace Bitcoin or any other cryptocurrency? When you strip away all the fancy GUI wallets and the mobile applications all cryptocurrency is just data on your computer that you can transfer through a transmission protocol. If an identity is mandated for a file on your computer, then where does this end? Must an meme or gif also have a digital identity signature? How about a word document you send to a journalist through a peer to peer transmission? Do you see where this is going?
https://cryptoinsider.com/civic-blockchain-solution-combat-cybercrime/
The downfall of crypto was premeditated by the central banks:
1) China ban
2) Dimon discredits Bitcoin ("This will end badly"- Dimon)
3) G-8 slaps North Korea with sactions
4) China cuts trade ties with North Korea
What comes next (end goal)
5) All governments of the world accuse North Korea of using Bitcoin to fund their weapons program and attempt to impose draconian regulation (this is coming and will mark the biggest test for Cryptocurrency)
https://www.bloomberg.com/news/articles/2017-09-11/north-korea-hackers-step-up-bitcoin-attacks-amid-rising-tensions
http://www.businessinsider.com/north-korea-allegedly-stole-bitcoin-from-south-korea-2017-4
https://www.coindesk.com/report-north-korea-targets-south-koreas-bitcoin-exchanges-cyber-attacks/
https://www.cnbc.com/2017/09/12/north-korea-hackers-trying-to-steal-bitcoin-evade-sanctions.html
This narrative is the same one pushed by the mainstream media with regards to Iraq and it's WMD program. Similarly, they cite no evidence of North Korea using Bitcoin yet they'll keep regurgitating this talking point until it the banhammer comes down. The Potcoin project is also to blame for this facilitating this narrative when they sent Dennis Rodman over there in Potcoin attire.
You make a lot of good points here. There's a lot of scamming going on here, and the regulators are going to come in eventually.
ICO's killing crypto
Whether it is good or bad, we may have unstopped ICO phenomenon underway! Oh my.
After all my ranting about the illegality of ICOs, I stumbled today on the idea that forking and airdrop may be a way to convert an ICO issued token into a non-security.
Thus in theory for example the EOS tokens would end up living on (as re-issued in an air drop) outside the jurisdiction of any securities regulators in the world.
Hahaha. The regulators suddenly become irrelevant and can be ignored?
Disclaimer: IANAL. This is not legal advice.
Maybe you're right. It depends on what you think.
Because ICO really does support entities right now. Many of them are air coins.
Only a white paper starts with ICO. No actual landing of the project.
Some countries have become aware of the seriousness of the problem.
After all, a coin out of the white book. There is a certain risk.
Many projects took the ICO wheel on foot. Therefore, there are certain grounds for prohibition.
Because ICO really does support entities right now. Many of them are air coins.
Only a white paper starts with ICO. No actual landing of the project.
Some countries have become aware of the seriousness of the problem.
After all, a coin out of the white book. There is a certain risk.
Many projects took the ICO wheel on foot. Therefore, there are certain grounds for prohibition.
No, of course. ICO is just an instrument in human's hands. So, the right answer is scam ICO without any regulation
ICOs are enabling the media to associate cryptocurrency and blockchains with money laundering, terrorism, North Korea, World War 3, etc:
These useful idiots are playing right into the plan of how Bitcoin would globalize (while necessarily becoming entirely centralized mining as has recently been proved in research!) while the scammers would drive the excuse for massive regulation:
ICOs are enabling the media to associate cryptocurrency and blockchains with money laundering, terrorism, North Korea, World War 3, etc..
I think the differences in approach here is due to different world view of the negative value of democracy and the reality of democracy (i.e. what really happened on 9/11 that everybody really wants to sweep under the rug).
Let the competition of ideas, designs, concepts, and financial structuring ensue.
Disclaimer: IANAL. This is not legal advice.
Quote from: https://www.cnbc.com/2017/08/04/icos-may-be-seen-as-securities-by-u-s-and-singapore-regulators.html
It's a very good time to be a money launderer, and you can thank cryptocurrencies
Cryptocurrencies have exploded in popularity in recent years that has led to a red-hot fundraising trend where start-ups bring in millions of dollars in capital by issuing virtual tokens to investors in exchange for money.
Initial coin offerings (ICOs) have become a primary means of fundraising for projects built on blockchain technology. Companies create and issue digital tokens that can be used to pay for goods and services on their platform or stashed away as an investment. They put out whitepapers describing the platform, software or product they're trying to build, and then people buy those tokens using widely-accepted cryptocurrencies (like bitcoin and ethereum) or fiat currencies like the U.S. dollar.
All of that is done without any regulatory oversight, and that has regulators — and members of the financial industry — worried about the potential of widespread money laundering and fraud.
Cryptocurrencies have exploded in popularity in recent years that has led to a red-hot fundraising trend where start-ups bring in millions of dollars in capital by issuing virtual tokens to investors in exchange for money.
Initial coin offerings (ICOs) have become a primary means of fundraising for projects built on blockchain technology. Companies create and issue digital tokens that can be used to pay for goods and services on their platform or stashed away as an investment. They put out whitepapers describing the platform, software or product they're trying to build, and then people buy those tokens using widely-accepted cryptocurrencies (like bitcoin and ethereum) or fiat currencies like the U.S. dollar.
All of that is done without any regulatory oversight, and that has regulators — and members of the financial industry — worried about the potential of widespread money laundering and fraud.
ICOs are enabling the media to associate cryptocurrency and blockchains with money laundering, terrorism, North Korea, World War 3, etc..
I think the differences in approach here is due to different world view of the negative value of democracy and the reality of democracy (i.e. what really happened on 9/11 that everybody really wants to sweep under the rug).
Let the competition of ideas, designs, concepts, and financial structuring ensue.
Disclaimer: IANAL. This is not legal advice.
Had a talk with someone from China about Bitcoin yesterday. I was looking at coinmarketcap and he asked what I was looking at. I told him about bitcoins, and he told me he heard about it and said it was just gambling. He had a pretty negative opinion on it, and nothing I could have said would change his mind. I think a lot of people still equate crypto to online drugs and hackings. It will probably take a long while for crypto to go mainstream […]
I see, here in the Netherlands, mainly negative views on crypto and bitcoin in the media. Today there was an article in a national newspaper about ICO's that was mostly talking about scams, pyramid games, easy ways for companies to generate money without having to deal with regulations, etc.
These views are caused by many (the majority?) of ICO's that indeed seem scammy and fraudulent. The actually legit well-managed ICOs suffer from this image. For mainstraim adaptation, it certainly has to be regulated in some way.
Another thing is the association many people have between bitcoin and the black market/criminals. Furthermore, people don't understand the technology so it is 'scary'. I think mass adoption can only start with some viral campaign that educates people and makes them enthusiastic, but that is only possible after regulations have been adopted that make people feel secure against hackers and scams.
These views are caused by many (the majority?) of ICO's that indeed seem scammy and fraudulent. The actually legit well-managed ICOs suffer from this image. For mainstraim adaptation, it certainly has to be regulated in some way.
Another thing is the association many people have between bitcoin and the black market/criminals. Furthermore, people don't understand the technology so it is 'scary'. I think mass adoption can only start with some viral campaign that educates people and makes them enthusiastic, but that is only possible after regulations have been adopted that make people feel secure against hackers and scams.
It's too easy to scam or to be scammed for common people at cryptoworld. It's really anarchy. Government institutes trying to adopt this market but it will take pretty much time.
Bitcoin has been the escape method for capital fleeing China. With the looming trade war on the horizon, the Chinese government will have absolutely NO CHOICE but to come in and regulate bitcoin as its citizens now account for 98% of all trading. From a regulatory perspective, the days of passive treatment of bitcoin may come to an end. Bitcoin has soared only because it has been the mechanism to obtain foreign exchange and take capital out of China. This could easily be considered an illegal operation, such as money laundering, to justify closing that window.
Of course, you have the zealots who preach bitcoin as the alternative to the dollar that they cannot shut down. All they need to do is declare bitcoins illegal and the PRESUMPTION of being in bitcoin is a PRESUMPTION of being a criminal. They are already using terms like “CASH IS FOR CRIMINALS” and if you have a few thousand in cash, they just confiscate it presuming you are criminal under Civil Asset Forfeiture without having to prove you committed a crime or charging you.
Keep in mind we are dancing with the devil. There are no rules — just ruthless self-interest. They will do whatever it takes to survive. They will not relinquish power willingly.
Of course, you have the zealots who preach bitcoin as the alternative to the dollar that they cannot shut down. All they need to do is declare bitcoins illegal and the PRESUMPTION of being in bitcoin is a PRESUMPTION of being a criminal. They are already using terms like “CASH IS FOR CRIMINALS” and if you have a few thousand in cash, they just confiscate it presuming you are criminal under Civil Asset Forfeiture without having to prove you committed a crime or charging you.
Keep in mind we are dancing with the devil. There are no rules — just ruthless self-interest. They will do whatever it takes to survive. They will not relinquish power willingly.
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