Topic: ICOs: The Cancer of the Digital Currency Industry - page 2. (Read 1283 times)
ICOs have disappointed everybody in 2018 for several reasons. First of all almost no ICO can even collect its soft cap. Secondly, the market is full of scam projects that are trying to trick the investors. Hope things will change.
Personally, I think that just due to ICO, many projects have developed to the level that we can observe now. Of course, the system is not perfect and needs to be improved, but its merits cannot be minimized.
not all. there are some good ICOs too. but i think all the ICOs must be regulated. then its healthy thing for crypto community and blockchain technology. hope that will happen in 2019
I'd like to see the venture capitalists give all their ICO gains to homeless charities and food banks around the US.
not all. there are some good ICOs too. but i think all the ICOs must be regulated. then its healthy thing for crypto community and blockchain technology. hope that will happen in 2019
Well if an ICO was a scam I'm sure they'd probably cash out. So it's like investors who like crypto give to people who don't care about crypto so it drains the market.
I think they've been cashing out all along.
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/
You've been talking in general which is not fair to the legit ICO which indeed helping cryptocurrencies to survive this bearish market so I strongly disagree on your thought , let's be specific to avoid misleading the other member .
anyway whatever thought is always been an arguments to others .
Well if an ICO was a scam I'm sure they'd probably cash out. So it's like investors who like crypto give to people who don't care about crypto so it drains the market.
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/
I do not really believe that creation too many altcoins is destroying the entire cryptocurrency market. On the other hand, they really opens up opportunity to introduce new technology in the market that will be used by many.
While there is no doubt that icos are responsible for the mistrust that the general population has in cryptocurrencies, things will not be so bad if people learned their lesson and stopped investing in those projects, you just need to take a look at the scam accusation section of this forum and you will see many users exposing icos every day that are fake.
icos have also brought something good. through them many people have found their way to crypto and the reputation of crypto has greatly increased. that would not have happened without the last ico hype.
Yes. I believe that scam ICO's are the reason why we are experiencing the bear market. I mean it should not be this worst if not for those scam ICO's. What's happening is that they are ruining the reputation of cryptto currency. Not all of the investors understand that ICO is an independent company that offers services. They were thinking that ICO is the crypto currency itself. It results to people bad mouthing crypto because of their experience on ICO's. Scams are cancer!
scamcoins surely affect greatly the crypto community. there is no good effect of a bad scheme, there will never be. Crypto community should be aware that there is no easy money, everything should be in a legal and legit process. Do not believe in a good to be true schemes.
of course, I think there are organizations or groups that are tasked with suppressing crypto prices at certain times, since January the price of other bitcoin and crypto has always dropped from month to month, but I'm sure there will be a large bullrun.
"...ICOs had their beginnings back in 2013, but their popularity as a new “crowdfunding” type scheme to raise capital did not take off until 2017, when over $7 billion was raised. Venture capital firms were wondering what had hit them.
The primary issue with these fundraisings is that they are unregulated, and their “tokens” have been likened to “securities” by the regulatory establishment, their way of combating the rampant fraud within this space. The SEC and others have come down hard with hefty fines, court filings, and incarcerations. The uncertainty of the situation has slowed momentum, too..."
https://www.leaprate.com/experts/tom-cleveland/the-anatomy-of-an-initial-coin-offering-ico-fraud/
The primary issue with these fundraisings is that they are unregulated, and their “tokens” have been likened to “securities” by the regulatory establishment, their way of combating the rampant fraud within this space. The SEC and others have come down hard with hefty fines, court filings, and incarcerations. The uncertainty of the situation has slowed momentum, too..."
https://www.leaprate.com/experts/tom-cleveland/the-anatomy-of-an-initial-coin-offering-ico-fraud/
I believe that there are good startups that came to the market with good intentions
I think if they wanted to do things right they would have started their coins like the early altcoins did. That would have kept things honest.
Instead we had criminal venture capital firms who wanted to game the system with their ICOs and now we're seeing the results of their criminality.
I believe that there are good startups that came to the market with good intentions
ICOs are offering an amazing opportunity to get access to very perspective tokens even before they will be live on exchanges. But unfortunately the market is overwhelmed with fraud projects that are trying to scam investors.
I blame the venture capital firms for all the fraud. They don't care about the individual investors, they just want to steal as much money as they can. Tim Draper and people like him are parasites who should be imprisoned.
ICOs are offering an amazing opportunity to get access to very perspective tokens even before they will be live on exchanges. But unfortunately the market is overwhelmed with fraud projects that are trying to scam investors.
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/
Considering during the peak of ICO times the prices have been soaring and during the low times of crypto currency there are no ICO that makes any money, I think it could be the opposite. I do not really think the coins that came out intend on having this much bear market right after they published their coins. https://cointrader21.wordpress.com/2018/11/25/icos-the-cancer-of-the-digital-currency-industry/
So if you take a look back you can see that there has been a lot of ICO funds that has shrinked a lot during the past year making it harder for them to achieve what they promised whereas they have been paid so they had to work for it with a smaller budget compared to what they have been funded.
Hence all this "scam coins" you talk of has been a bit of bad luck involved in it as well. Of course there are scam coins as well but not all of them are like that.
In general, ICO is a very useful and necessary activity, it is a real way to improve cryptocurrency, in which our entire society takes part. However, large sums of money that are collected during an ICO attract many scammers. This is practically the only problem with ICO. We need government regulation of ICO activities and then all the main problems with ICO will be resolved.
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