Topic: ICOs: The Cancer of the Digital Currency Industry (Read 1256 times)
The first wave of ICO is completed, someone managed to earn a lot of money on it, someone was unlucky, but soon begin the new wave of startups - STO, it will start in the new phase of market growth. This is the natural phase of the development of the cryptocurrency market and it will replenish the capitalization of cryptocurrency and return investor confidence to startups.
ICO's aren't all scams but a large percentage of them were from early 2017 up until recently but that was mainly due to the cryptocurrency boom and many investors weren't very savvy as to what constituted a decent investment and instead were buying into quick flips to gain profits and some ended up making losses in the end giving crowdsales a bad reputation
You wrote something wrong. ICO is something that on the contrary attracts investors to this industry and makes money stay in this area, if not for them, people would cash them because they have nowhere to spend.
but perhaps the very drastic price reduction will end soon because the crypto market situation has improved and has experienced a significant price increase in the past few days and maybe this is the beginning of the market recovery that we have been waiting for, and maybe we can be a little relieved current market.
There is a fact that most ICo are bad projects and do not bring anything to investors, but there are also many good ICOs. Many ICOs bring capital to small companies and profits for investors. So I don't think the whole ICO is a scam
That's right guys ... I think the assumption of the whole ICO scam is just the opinion of someone who is hurt because they are disappointed to invest their money in a wrong ico project without careful consideration. The recent drops in the digital currency prices have been unparalleled in the amount of market capitalization dollars lost. In the past there has been some examples of large drops in Bitcoin and Altcoin prices, but what’s happened over the last 10 days cannot be an accident or attributed to the Bitcoin Cash hard fork. There are certainly more sinister forces at work...
https://cointrader21.wordpress.com/2018/11/25/icos-the-cancer-of-the-digital-currency-industry/
https://cointrader21.wordpress.com/2018/11/25/icos-the-cancer-of-the-digital-currency-industry/
The words are so harsh, do ever think about the benefits that these ICO's can bring to the community? Well I guess you can say that because allot of ICO's are scam projects, but still, it is the way to open up the world to new technologies.
There is a fact that most ICo are bad projects and do not bring anything to investors, but there are also many good ICOs. Many ICOs bring capital to small companies and profits for investors. So I don't think the whole ICO is a scam
ICO projects are just one of many instruments that have recently appeared on the cryptocurrency market. There will be a lot more of them and we should not fight with it. To use them skillfully we should learn how to do it and not destroy it. The fact that many of the projects have fallen in 2018 is mainly bear market consequency. Let's hope that this is the end of price drops and ICOs will allow us to earn as it was in the second half of 2017.
Millions of investors must have lost funds to scam projects in this 2018 alone which is bad but I would wait and see what STO has to offer in the year 2019 and if anything would happened to ICO anyway but I personally think ICO should be regulated to reduce all this scam issues at least
ICO's aren't all scams but a large percentage of them were from early 2017 up until recently but that was mainly due to the cryptocurrency boom and many investors weren't very savvy as to what constituted a decent investment and instead were buying into quick flips to gain profits and some ended up making losses in the end giving crowdsales a bad reputation
I think ICO is not the main factor that can destroy the crypto market, so you can't give a statement like this. Even if it's true, the fact is that the ICO has also had a positive impact on the crypto community. For example, there are many people who have been helped in improving their financial condition thanks to the ICO through a bounty campaign, and many more. So never judge something from one point of view.
You wrote about hating ICOs but why? Are there any reasons? Many ICOs became really good projects which are now in the top of coinmarketcap. I think that you should tell the reason of your hate.
The whole problem of the ICO is that so far this activity is not regulated by the states in order to reduce or completely eliminate the problem of fraud and protect the rights of investors. States have so far removed themselves from this problem, although fraud with stealing huge sums of money is a crime in all states. If the activities of the ICO will be regulated by the states, then there should no longer be any particular problems. We just need to survive the time of this wild, unregulated ICO and everything will be fine. After all, the very idea of ICO is good, this is how the cryptocurrency is being improved.
No need to look for bad moments in ICO. They are clearly visible. You need to look for good qualities in ICO. There are still good ICO projects in the market that are needed in the market. Some problems exist with ICOs, such as inability to achieve goals and which are constantly being postponed. Despite this, there are tokens that make a profit. For example, a month ago I bought a completely new Darico Ecosystem Coin coin, which grew 3 times during this period. And it has a chance to grow even higher.
ICO's are necessary part of the evolution in the crypto space and to decentralize the funding instead of VC's.
Instead of VC's earning all the money if the project booms, the ICO's allowed for INDIVIVUALS GLOBALLY to be able to participate and contribute thus decentralizing the funding and wealth generation if the projects booms.
If individuals are only contributing what they can afford to lose, that should not worry much those who participated in good ICO's.
But sadly, the ICO's also became a gambling arena, where people are betting their hard earned money without really performing proper DYOR.
Instead of VC's earning all the money if the project booms, the ICO's allowed for INDIVIVUALS GLOBALLY to be able to participate and contribute thus decentralizing the funding and wealth generation if the projects booms.
If individuals are only contributing what they can afford to lose, that should not worry much those who participated in good ICO's.
But sadly, the ICO's also became a gambling arena, where people are betting their hard earned money without really performing proper DYOR.
Of course you have a strange perception. Think about it, ICO is made to receive the new projects. Isn't that awesome? This is a new competition in the field.
One of the causes of ETH losing so much value to be accounted to the 2017 ICOs, over 170k ETH were dumped by ICO anchors on ETH market because most of the project that conducts ICO uses ETH platform. The cancer of digital currency is however not only ICOs but also the governments trying hard to FUD the whole system.
I agree with your points about ETH. But what needs to be reported on far more is how the venture capital firms backed the ICOs and ultimately the prices crashing is their fault.
One of the causes of ETH losing so much value to be accounted to the 2017 ICOs, over 170k ETH were dumped by ICO anchors on ETH market because most of the project that conducts ICO uses ETH platform. The cancer of digital currency is however not only ICOs but also the governments trying hard to FUD the whole system.
O-o-o-kay. Did you write that article and want to point people to it, or was there something else you wanted to say about it? It's not a very in-depth piece of writing; it's basically calling ICOs scams without providing a real argument for why people should think that.
Not that I completely disagree with it, but I've got my reason for thinking so and if I just wrote "ICOs suck; they're killing the crypto industry" it wouldn't be worth much as a published blog article. Know what I mean? Want to spark some sort of discussion about this?
Not that I completely disagree with it, but I've got my reason for thinking so and if I just wrote "ICOs suck; they're killing the crypto industry" it wouldn't be worth much as a published blog article. Know what I mean? Want to spark some sort of discussion about this?
I wonder if we'll ever know how many individual investors lost money on the ICOs. I would think the number has to be in the hundreds of thousands, if not a few million.
I never bought an ICO, but I knew early on that they were a problem. I remember seeing an interview with Andreas Antonopoulos in the summer of 2016 and he warned people to not invest in them. He said they were basically scams, I believed that then and I believe it now.
Study Concludes 80 Percent of ICOs in 2017 Were “Scams”
https://ethereumworldnews.com/ico-80-percent-scams-2017-2018/
no, precisely if there is an ico with a better concept it can lift the altcoin that is their platform. I know that you suspect that participants who get a reward and do a dump are very influential on the altcoin market right? that's not entirely true. ico can greatly help the future of the coin that is their platform.
Jump to: