Topic: ICO's killing crypto - page 8. (Read 3638 times)

They don't care.
They are here to profit.. and nothing else.
So that has gradually morphed crypto into a sleazy shithole.
They don't get why ICO's are bad no matter how many different ways it is explained to them.
Think about it people.. why wasn't ICO's used years before ?
It was maybe 7 years i am estimating that the scene dropped mined coins and went with ICO's
Why were we mining them ?
You know guys there is a reason 
And there is a reason why i say *ALL* ICO's are scammy too.

I think instead (or perhaps even in addition to it if they must) of banning left and right, governments should send more efforts into educating people about money, finance, risks, how to do taxes. It should be started early in schools in my opinion but you don't really see that anywhere in the world. I for one want to spend my money freely, if I think something is worth my money and I do it from a position where I know there are risks, not just rewards and if I fuck it up, it's my fault first and foremost.
So I don't think ICO's are killing crypto, I think people's greed and lack of research and risk control is.

ICO's are not a bad thing themselves, but the way we have all let our greed creep in is the main problem. I as much as the next guy can't resist the next get rich scheme.

The scam ICOs have grown massively over a short period of time, and the crypto community should have come together to try dampen it down, and clean out the bad ones.
We the members of this forum must take some responsibility. Even if we had only established a seperate "ICO only" section, just to keep the dross away from the other sections.
Reading through here now it is so hard to see the wood for the trees.

Unfortunately the crypto communities failure to internally address this, was always going to lead to government intervention, and now we have put crypto on the table in the worst way.
Now we are forcing governments to make public decisions, and we all know how poor they can be at that.

This is definately not the death of crypto, rather the sanitising of it. I know this will bring forward the UKs Bitcoin tax laws into weeks rather than years now.
They were only considering taxing bitcoins, but with all this drama they will use it to encompass all coins. Or, they will only encompass bitcoins and outlaw all other crypto (Knowing the UK, this will be their choice)

My thoughts are simple, give ICOs a seperate section, and monitor them very very closely, perhaps even limit the number of new ICOs published per week, keep a clean house, cos if not history shows it will be cleaned for us, and we will have to live with the results.
J

Indeed! Governments are only responsible for safeguarding citizens. If they fail to do so then they are the one who are questioned. Many ICOs start only with the intention of scamming people. Certain kind of regulations are indeed needed. But banning is also not right according to me. A chance should be given to people to start their own ventures but under strict regulations.

Yes your words are very wise. Ico needs strong rules to avoid fraud like before. The Ico does not kill crypto but it makes them grow quickly. We need strong rules so that scam ico will not exist in the world. But is it possible to create decentralized crypto rules?

You're right about it taking time for people to adopt a new technology. I'd argue that the speculative nature that dominates the bitcoin discussion currently helps draw more attention to crypto currencies in general. This additional awareness is leading to more interest from the general public and will ultimately benefit the market as a whole.

Just like porn drove the adoption of many technologies, bitcoin speculation may help drive it's adoption as intended.

Because ICOs are really getting dirty. A sort of regulation has to be employed to try sorting out ICOs offered in public. Look at how many ICOs end up as mere scams after millions and millions of dollars worth of investments have been carted away. This has to stop of course, one day soon.

ICOs, in general and of course with some exceptions, are a way for scammers to rapidly collect money -- that's really the long and short of it.

This year I think a lot of ICOs are popping up. Not a few ICOs that collect tens of millions or even hundreds of millions of dollars. Sometimes I am confused, what is the money for, what for a noble cause, and why investors dare to spend that much money? However, I think again that ICO is indispensable as a creative business step. So, as long as no harm, ICO is still a shortcut for people who want to try to invest without having many requirements.

Merchants are starting to accept bitcoin as a form of payment in a very rapid way so I would have to disagree that it isn't making headway. Look at the massive increase in usage in Japan and tell me that it is not being used as intended. It takes time to overtake the status quo system and especially when it involves governments that are desperate to maintain control.

Scammers using blockchains like Eth to manipulate markets and launder money by investing-reinvesting, converting-reconverting to ICO tokens and back to

Eth and Bitcoin then from Eth and Bitcoin back to ICO tokens but this time into other tokens with different exchanging services focused markets to confuse all

The government agencies and regulators, and with coin mixers around their job was like a living hell for them so what they did was putting a temporary stop

Into everything until they can come up with some methods to deploy as countermeasure for those nefarious transactions.

That would be a really good thing for the crypto world right now.  ETH is being used almost solely for the purpose of scamming people.  The ICOs being run on it are almost all scams, all it's going to take is for a few of them to come crashing down and then the SEC is going to step in and regulate, and they're going to come down hard.

There are a lot of other things out there that are not scams, the crypto world isn't defined by ETH.  There are also innovations that are coming that probably won't fall afoul of the SEC.

I agree with your second comment.  ICO's are really helping provide exposure and creating new businesses that are leveraging blockchain technology.  It's a great thing for the overall industry.

However, I do think it's fine to have scams.  Anything worthwhile, will always have people trying to take advantage of the situation.  We can't prevent scammers just like we can't prevent stealing, robberies, etc.  

But it is OUR responsibility to not invest in the scams and warn the community so that the scams are minimized as much as possible and do not impact the community itself.

Nevertheless, in the crypto trading markets there are many whales that playing on the bad news, to instill our fear with the intention to collect good coin at the lowest price possible.
After the bad news is over there will be a turn to hype on the good news for the "distribution" to small player.

This is similar like in the stock trading markets, bigger fish will eat smaller fish.

I hope that people actually read the whitepaper and do research before they invest into anything. But because cryptocurrency is still new, new investors are going to be driven by greed and profit. I think some regulation is good so that the scam ICO's don't dominate the lower end of the market.

I don't think ICO is killing the cypto currency. In fact, it starts from the new idea / innovation and people need funds to translate these into actual product that usable for public and since it may not has the fund to start hence we have this crowdfunding.

Well I do agree there are too many ICOs and some may have the intention is just to collect the monies.
Therefore, we a investor must do our part to analyze if the ICO is worth to put our hard earned monies.
And I feel, the some forms of regulation is needed to filter out those scam ICOs.

and no ETH would be a bad thing 

as Spoetnik rightly put it "ETH was morphed into an ICO coin cloning platform"

Crypto doesn't need alot of capital right now, we shouldn't be judging the success of Bitcoin (or any crypto) on how high its priced in fiat, crypto success is about usability as a p2p currency and acceptance as a currency.

Only bad ICO is hurt BTC.

BTC is too sensitive.

Just 1 great ICO will bring back BTC

It is not all about the exchanges dealing with ICOs, it is about China's great fear on the threat and uncontrollable nature of the cryptospace.

BTCC which announced that they will close in 2 weeks does not have an ICO listed in their exchange. Why were they the first one to close down?

BAD icos are hurting crypto, but this too shall pass