ICOs now are asking for too much - page 3.

Sylvial

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Quote from: btyco on October 06, 2018, 04:09:56 PM

If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.

Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?

I don't have a problem with an ICO asking for certain amount of money so long as it's justified. I mean these projects are being run like actual companies with overhead costs and other sundry expenses. What I have a problem is with is a complete scam asking for $30m only to disappear into thin air thereafter.

mirgo1791

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MISS_nSTASSY

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Quote from: btyco on October 06, 2018, 04:09:56 PM

If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.

Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?

There are not so many specialists and developers in the field of cryptocurrencies so they ask for a big salary. And business-plan includes spendings not for few months but for years - till the product will not be completed. So sometimes it is fair assessment of required funds.
But only sometimes. In most cases business plan in ICOs is useless paper.
By the way many projects don't even need ICO to make a product Wink

bitbabba

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Quote from: Suslura on October 07, 2018, 04:44:33 PM

Quote from: Noobaru on October 07, 2018, 04:29:03 PM

I totally agree with you. I've recently seen a project conduct their ICO with 1 mil soft cap and 50 mil hard cap. Crazy enough and they didn't even raise the million. As you proposed 1 mil soft and 2 mil hard would suffice or at least 1 mil soft and 5 mil hard.

Perhaps you are right, the amounts requested are really very large. On average, 20 million for the project and almost all, despite various ideas, require such huge sums from investors.

Yeah sometimes they expect 10 million dollars for just for software, yeah i know software engineers are paid very high but project owners' acting greedy sometimes. (lots of times)

Qiuyue201_real

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Quote from: Qiuyue201 on October 06, 2018, 05:52:40 PM

Quote from: Reid on October 06, 2018, 04:12:24 PM

Yes, because most of them needs to pay employees, programmers, advertisements and a lot more.

I remember one ICO who got bankrupt because they didnt hit the softcap although they got 3million dollars in their offering.

Look this people needs to pay a lot of things and with just 1 million dollars it will not be enough.

Add the capital they released. I dont think that will be a small one.
This is for legitimate ICO's who have a goal.

I'm not sure about that but what about these coins that didn't raised any money from the investors? You can see byteball and more free airdrop coin just like decred. but these investors are taking opportunity to doubled their money. As far as i know about the fact that icos can be considered as a game changer after crypto trade.

Suslura

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Quote from: Noobaru on October 07, 2018, 04:29:03 PM

I totally agree with you. I've recently seen a project conduct their ICO with 1 mil soft cap and 50 mil hard cap. Crazy enough and they didn't even raise the million. As you proposed 1 mil soft and 2 mil hard would suffice or at least 1 mil soft and 5 mil hard.

Perhaps you are right, the amounts requested are really very large. On average, 20 million for the project and almost all, despite various ideas, require such huge sums from investors.

Noobaru

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I totally agree with you. I've recently seen a project conduct their ICO with 1 mil soft cap and 50 mil hard cap. Crazy enough and they didn't even raise the million. As you proposed 1 mil soft and 2 mil hard would suffice or at least 1 mil soft and 5 mil hard.

waser12

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You can't imagine the volume of costs that team should pay. High quality specialists and research and development are the most expensive costs, add advertising, road show and so on. When you will launch your own ICO than we will speak.

dodgecharger

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Quote from: btyco on October 06, 2018, 04:09:56 PM

If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.

Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?

There is no threshold for an ICO project to start. The problem is that if you want to make it successful, you need to spend a lot of time and energy to promote it.

batang_bitcoin

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That depends on the prospect of the project and what industry they are tackling. Including all of those expenses just to highlight and give exposure to their project, that's going to be the market cap of their token. The higher cap they hit, the potential high market cap they will start. But this business has been exposed too as a way for scammers to collect millions easily by just proposing an interesting project which really has similarity with most.

Qiuyue201

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Quote from: Reid on October 06, 2018, 04:12:24 PM

Yes, because most of them needs to pay employees, programmers, advertisements and a lot more.

I remember one ICO who got bankrupt because they didnt hit the softcap although they got 3million dollars in their offering.

Look this people needs to pay a lot of things and with just 1 million dollars it will not be enough.

Add the capital they released. I dont think that will be a small one.
This is for legitimate ICO's who have a goal.

I'm not sure about that but what about these coins that didn't raised any money from the investors? You can see byteball and more free airdrop coin just like decred. but these investors are taking opportunity to doubled their money. As far as i know about the fact that icos can be considered as a game changer after crypto trade.

bangjoe

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there are some projects that do require a lot of funds to realize their concepts there are also those who only need small capital so we must first assess the concept of what they apply because the concept will give us answers to how much money they need

cytpoway121

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I think in q2 2018 till now
Icos didn’t really ask too much, they were simply greedy

Etherum was sold at 1 ETHEREUM = 350$
And some icos would insist their own 1 Etherum = 750$

Which would chase off investors and even ordinary ico participants
Trivver crashed and couldn’t reach softcap because of this

Ramtapsbtc

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ICO project for start needs fund to pay the compensation of the team (developers, community managers, advisors, etc) and these people are not cheap if we are talking here of talent so i think they need at least a million dollar for a softcap to endure and retain their talent for at least a year or so. Asking for $50million is too much though and i think it's an abuse.

Hamphser

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Quote from: btyco on October 06, 2018, 04:09:56 PM

If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.

Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?

Entirely depend on what project they would tend to built or proposed even if you do tried to sum up all of the expense (labor, development) it wont really require millions of dollars which coming
to a point on where setting out a hard cap which is really very hard to reach out.I would say that they are entirely getting greedy because not all projects are really legit ones.
I have remembered the past where projects do only ask out $1M-4M which is a realistic goal.

DonnieMitchel

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Its not about developing alone.
There's a lot of other thing involved.
Let's say it takes about a year for the token to launch again after the ICO, within that 1 year of span, all the developers and employees need to be paid, the token must be still be talked about for one year and that needs marketing, other funding, collaborations.
In short, don't just look the aim, also what it takes to achieve the aim

pawel7777

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Quote from: btyco on October 06, 2018, 04:09:56 PM

If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.

Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?

You're looking at matter as if all the projects were the same. Obviously it very much depends on the project and you have to assess each individually. Just like with (other) businesses, some need few thousands to start, other could need hundreds of millions.

To be honest, having high soft-cap could add some legitimacy to ICO. If organisers intend to pull yet another money-grab scheme, they're more likely to set soft-cap quite low, so they don't need to return it if the goal is not reached.

DireWolfM14

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That depends on where the project is based, and who the key players are. If we're talking about reputable people with a history of success starting a project based in Silicon Valley, you can expect the operating costs are going to be higher.

Of course most ICOs are not what I described above. If an ICO is founded by youngsters spread around the world, with no base of operation, with no business experience, working from mom's basement setting a hard cap at $10m... It's no wonder they all look like scams.

Reid

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Yes, because most of them needs to pay employees, programmers, advertisements and a lot more.

I remember one ICO who got bankrupt because they didnt hit the softcap although they got 3million dollars in their offering.

Look this people needs to pay a lot of things and with just 1 million dollars it will not be enough.

Add the capital they released. I dont think that will be a small one.
This is for legitimate ICO's who have a goal.

btyco

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If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.

Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?

Topic: ICOs now are asking for too much - page 3. (Read 543 times)