Topic: Lets Create NEW ICO standards! | Ultimate thread - page 2. (Read 1411 times)
This is a very important topic, as it is a huge problem in the crypto currency world. Does anyone have any new suggestions?
These standards should be regulated by all the big coins like Ethereum because many of ICOs are ethereum based coins they need to implement such rules to prevent scams from ICOS.
"Regulation" is a swear word to innovation. However as a community we just need to be smarter and make smarter decisions. Scams will always exist, we just need to hold these coins to more of a standard.
These standards should be regulated by all the big coins like Ethereum because many of ICOs are ethereum based coins they need to implement such rules to prevent scams from ICOS.
I agree with you, the current ICO market does need certain rules, otherwise anyone can release an ICO! This is clearly unreasonable and requires the joint supervision of all countries
This is a big problem, and I think some of these accounting based coins will help solve this problem. If we dont get more information the next generation investors are going to have a terrible time evaluating the different coins.
I agree with you, the current ICO market does need certain rules, otherwise anyone can release an ICO! This is clearly unreasonable and requires the joint supervision of all countries
you have a good point of here and your intention is good but we dont have existing board that can filterout ICOs or even give reviews.
Who else thinks that we need more ICO standards?
To avoid scams the folks who do the ICO should keep 10 % of the ICO money as a secuirty . This helps to avoid any future scam as there is no body such as SEC to vet the ICO's.
That really wont solve anything. Plus I am looking into more of the investor and their safety.
To avoid scams the folks who do the ICO should keep 10 % of the ICO money as a secuirty . This helps to avoid any future scam as there is no body such as SEC to vet the ICO's.
2 minimum standards you can add to determine if an ICO is good:
One get google dev tools to determine what frontend tech stack they use - I use BuiltWith Technology Profiler and Wappalyzer. If they cant build a decent frontend website that means they will never be able to build anything better (more so DApps). If your dev tool shows you WordPress or Wix - huge red flag.
Second - look at Github. ICO's these days are even forgoing GitHub. If you can't see any development activity on GitHub, you know it's a pump and dump scheme or a get rich quick scheme
One get google dev tools to determine what frontend tech stack they use - I use BuiltWith Technology Profiler and Wappalyzer. If they cant build a decent frontend website that means they will never be able to build anything better (more so DApps). If your dev tool shows you WordPress or Wix - huge red flag.
Second - look at Github. ICO's these days are even forgoing GitHub. If you can't see any development activity on GitHub, you know it's a pump and dump scheme or a get rich quick scheme
They should still use the OP suggestions in the whitepaper, I think that is the biggest deal.
2 minimum standards you can add to determine if an ICO is good:
One get google dev tools to determine what frontend tech stack they use - I use BuiltWith Technology Profiler and Wappalyzer. If they cant build a decent frontend website that means they will never be able to build anything better (more so DApps). If your dev tool shows you WordPress or Wix - huge red flag.
Second - look at Github. ICO's these days are even forgoing GitHub. If you can't see any development activity on GitHub, you know it's a pump and dump scheme or a get rich quick scheme
One get google dev tools to determine what frontend tech stack they use - I use BuiltWith Technology Profiler and Wappalyzer. If they cant build a decent frontend website that means they will never be able to build anything better (more so DApps). If your dev tool shows you WordPress or Wix - huge red flag.
Second - look at Github. ICO's these days are even forgoing GitHub. If you can't see any development activity on GitHub, you know it's a pump and dump scheme or a get rich quick scheme
Who should make these regulations? is there any team or people who can regulate ICOs? between nice point of view we really need to clear scam ICOs.
Us. Investors, crypto currency enthusiasts. We need to spread our thoughts and opinions because it is regular people that are investing in these coins without a second thought. We as investors and enthusiasts need to stick together to help promote this idea of extra layer standards.
I guess we are in a transition phase from the period when people would invest in ICOs just as ICO flippers (resell immediately for inflated price) and the period where people are discovering that if the project sucks, so does their investment.
People seem to forget business investing strategies that have been around for many many years. People often will go completely against traditional investing ideas, which is why we are seeing such a painful backlash.
Standardization is so much needed in the crypto world because any one can wake up in a day, create a coin and go for an ICO but if there is a standard this will reduce a lot of shit coins creation and scams by developers. It will also give the mainstream society especially those that do not have faith in digital currency a reason to belief in crypto coins . Regulation is needed for full acceptance of crypto currencies
Exactly, and these standards will arise whether we petition for them or not. People are going to start getting burned and investments that were made with the first round of this ICO frenzy are going to start coming back soon. And when that happens, the market is going to turn sour for a period of time. People need to wake up now and fix this problem before it gets worse.
Standardization is so much needed in the crypto world because any one can wake up in a day, create a coin and go for an ICO but if there is a standard this will reduce a lot of shit coins creation and scams by developers. It will also give the mainstream society especially those that do not have faith in digital currency a reason to belief in crypto coins . Regulation is needed for full acceptance of crypto currencies
I guess we are in a transition phase from the period when people would invest in ICOs just as ICO flippers (resell immediately for inflated price) and the period where people are discovering that if the project sucks, so does their investment.
Who should make these regulations? is there any team or people who can regulate ICOs? between nice point of view we really need to clear scam ICOs.
At the moment, ICO as many as they are is still better than your traditional IPO! In the traditional ipo and deriavatives, you can not know the inside secret and trading taking place because that system is not open. But in crypto furrency it is not so. Everything is in the open and you can dig out the minutest secret!
What do you mean it is "better" than a traditional IPO. Are you talking about insider trading or what? I am very confused as to what you are even trying to say. I would stay away from trying to compare the stock market and the crypto currency market.
At the moment, ICO as many as they are is still better than your traditional IPO! In the traditional ipo and deriavatives, you can not know the inside secret and trading taking place because that system is not open. But in crypto furrency it is not so. Everything is in the open and you can dig out the minutest secret!
In 21st century we are already tired of standards and regulations and this explains the boom of the cryptos and ICOs. If you want standards and regulations you can go the traditional way which we have at present. You mentioned it in your last sentence "As investors we need to make smarter decisions with our precious coins".
Regulation and standards are 2 different things. Making standards is not restrictive to the ICO frenzy.
I think it should be standart practice that funds unlock at milestones. For example 1/3 unlocked when BETA release, 1/3 when full platform release etc.
That would certainly be nice
I think it should be standart practice that funds unlock at milestones. For example 1/3 unlocked when BETA release, 1/3 when full platform release etc.
In 21st century we are already tired of standards and regulations and this explains the boom of the cryptos and ICOs. If you want standards and regulations you can go the traditional way which we have at present. You mentioned it in your last sentence "As investors we need to make smarter decisions with our precious coins".
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