Topic: ICOs, not Bitcoin, are the bubble (Read 1145 times)

Sometimes we need to get burn in order to get our lesson, I never invested in icos and I'm not going to but there are many stories around the forum of people getting scammed and losing money, and the issue is that they not only lost their bitcoin they have lost forever the possible profits they could get out of their bitcoin holdings.

There's so much ignorant holders in the cryptocurrency space that the hype itself from them is effectively rising the prices; they sort of shill the coins as if they actually know the coins inside out. What they only know is they would sort of double their money or something.

At present, many ICO projects have no effect on the future and in real life. At present, they can't see it, just know that they get a lot of money, and sometimes it's just a scam.

unfortunately, i dont think that's going to be the case. as much as i don't like the idea of ico's with how insecure they can seem, with millions of dollars' worth being entrusted to groups on their word alone, they can get pretty out of hand with the scams they pull. however, at this point, the ico scene is too closely tied to the cryptocurrency market, and while bitcoin itself may not experience too much of a hit were the ico scene to get shut down, it will take a hit regardless, although i don't believe it will be devastating. however, i do think that the ico scene is a major contributor to bitcoin, and even cryptocurrencies in general, receiving a lot of exposure in recent times, and also contributing to the 'bubble' that people are assuming exists, although i havent seen an actual market analysis that suggests so.

We can directly describe it as bubble since they can hype it up and later dump it big time, some of the ICOs are now used just to generate profit and leave it behind and give reasons like, it was hacked or no more investors are coming in lol, also the Bitcoin Forks are now also a phenomenon to the Crypto World another way to generate profit easily. There are a lot of scammers in this world, but let's not generalize all ICOs and All Bitcoin Forks, let's learn to discern things carefully.

Couldnt agree more here. Its a shame how this whole ICO craze is evolving. I am concerned that this will hurt the space badly sooner or later. We can already see it with those many scams evolving. Moreover people are too lazy to do their due dilligence and therefore hurting themselves. This month there were several ICO's (legit ones) that just lowered their hardcap to 1/10 or even 1/50 of the previous one because november was a slow month. Can you believe that? What are people supposed to think of that besides of: greedy money grab that would have never needed this kind of money in the first place to realize their idea. Sad.

In my opinion,ico's are the latest ponzi.
Till a coin makes it to the coin cap market,am not interested, Christmas is around the corner,wisdom is never far fetched.

Thats fine, i think alot will disagree with me but its important to share views in these threads as the unexpencted does happen. No one thought Trump would be president last year and look where we are today! 10k by new year, i reckon so! a dip some point next year, i reckon so!!  if your buying into bitcoin now you should be careful, putting 9-10k into a bitcoin could short term bite you unless you wait for a dip entry or are happy to hold out longterm.

With such huge investment into ICOs however a small percentage will produce products of great value, i dont believe there all cancers!

IMO you are definitely wrong. ICO's are infact the ones following the bubble of bitcoin. Anything that affects bitcoin price will also affect all the ICO's. However falling down of all the ICO will obviously not affect bitcoins price that much. Aside from that they are all just cancers

I dont believe Bitcoin will be affected by ICOs if they crash.

BUT that said Bitcoin is the one thats skyrocketing not ICOs (whilst huge investments gone into ICOs there fairly dormant at the moment being overshadowed by Bitcoin) and people away from this forum who have no understanding of Bitcoin are the ones Chinese whispering about how there so much quick money you can make and they should jump on the hype train. Your average joe isn't buying into ICOs in the same way with Bitcoin. Media is focusing on primarily on Bitcoin and the unbelievable growth and money making opportunity. Your average joe isnt thinking oh TenX, Neo, Lisk blah blah there thinking Bitcoin.

Early investors of bitcoin fuck yeah go you guys your going to be fine just hold on long term as it will continue to grow to new heights in the next 10 years, you got yourselves a great entry into the market early on!

Newbies looking to invest now id be very cautions of getting wiped out short term and waiting a long time to recoup your potential losses. Nothing lasts for ever, history repeats itself, dont be blinded by money signs and whilst there is great value to Bitcoin there is also alot of volatile hype right now. I know alot will disagree that Bitcoin is in a bubble and will have a dramitic drop at somepoint but perhaps we can agree long term bitcoin will be of a higher value that it is today. Entry is everything in market trading and jumping in now seems quite risky.

I think its alot easier to get bitcoin than it is to learn and buy into ICOs. I think Bitcoin is the bubble but yes there are trashy icos out there still.
I think you should be very careful if investing at this time and use this great forum to collect as many opinions to form your own. If bitcoin crashes all those ICO/BTC prices are going to surge up. Theres not much of a crash for ICOs to currently really have, more Ethereum with the majority of ICOs being built on its platform but again its relatively cheap and lightweight still in comparison - everything being kept relatively low by bitcoin and its hype.

ICO attract people to invest on bitcoin indirect way but when people decide to buy it, it means that they have trust on this project.
It's difficult for me to convince people to invest bitcoin but they trust on ICO. Sometimes it's difficult to understand but the fact is happening !

ICOmarket is just likeclassical stockmarket.
you have to separate innovative and promising projects from "old school" ones !
To me, what makes the difference is "what can blockchain technology provide in terms of progress in this activity  ?" .
I am sure that blockchain will forever change the way to make business.
and as usual,  the first in the place will mke a lot of profit while the followers will....follow.
some ICO are future gold nugget, undoubtly...you just have to detect them !

I feel that the ICO bubble has already been and gone, there were so many successful ICOs in the early part of the year, now I feel that the ICO market is struggling because of that, ICOs are trying to raise too much money and are failing in doing so. I think ICOs will come again in 2018 with another wave of very successful ICOs and large profits for investors.

Sure, "many of them" are not worth investing in. But that's true of most startup companies; the vast majority will fail. ICOs do reduce a lot of friction in fundraising, and they globalize the public offering markets. That's huge. But when big inflows of money are involved, scams are bound to pop up. And many well-intentioned projects will flounder just like most startups do.

Most of the early Bitcoin services/businesses/casinos are gone at this point. Many of them disappeared under less-than-ideal circumstances and disappeared with customer money. I don't see this era so differently. The newcomers are always getting scammed. With so much money constantly pouring into the space, that's only natural. I consider it "paying tuition" much like new traders blowing up their first account.

It's really amazing the way people fall for these ICOs despite the fact that it's a known fact that many of them are copies and duplicates of meant to scam the living out of the pockets of the gullible. It's obvious that greed is the driving factor facilitated by the knowledge that people are too lethargic for due diligence.

Well said! I agree with you, its a natural process but a good one none the less to get to the Amazons/Ebays of the future

Indeed, there are so many ico's which are just copies of other projects. But in blockchain. Its really rubbish to even think about it/them. But yet they manage to collection millions time aftert ime.
it's like people are investing without using their brain.

Well only the time will prove bitcoin is a bubble or not. But correlating ICOs bubble nature to bitcoin is not a wise idea. ICOs are the only small fraction of bitcoins large application domain. Volatile nature of ICOs does not have significant impact on bitcoin's market.

Rubbish! Yes there are scammers but statistically 80% of startups fail but that does not mean they are all scammers. ICOs are high risk investment options, the majority want to succeed and build value and a great brand but not everyone is so lucky with increasing competition.

You always need to check the ICO project and better invest where is working prototype