Over 90% of ICOs are a scam - page 34.

SpringfieldM1A

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Quote from: lovenlifelarge on February 25, 2018, 07:22:45 AM

I hope some good people will list all of this scam ICOs and posted it for awareness along with names of devs. It is a big disappointment for cryptos.

It's actually a great idea, it would take way too much research and it would be hard to identify a scam from time to time... So rather than calling out current icos, a database could be created. A database of past scams so looking at that would give people an idea of what scams look like, what do they have in common and such... Hear us out devs, this is a gold mine for you!

Zandra

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I don't think 90% of ICO are fake, honestly I'm not convinced that. There are many ICO that are really good, reliable and give you a x5 to x10 profit and yes there a some fake ico, I think 50 percent. And to avoid scam or fake ICO be careful and check the Team, if they have experience on what their doing and the project their made.

captain8

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Maybe its true, maybe they are not scams just setting their sites too high,

Anyway use ICO's as an easy way of doing a x2, then get out and invest in something you are comfortable with

sujeewacrypto

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Peoples need high income with low invest. that's why lots of peoples try to invest in ICO. most of ico are fake but some one are good and they gave good chance to create money. Best thing is to study as much as the ICO and then invest as much you can risk. There are no reward without any risk.

kbit9311

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Crypto market has grown more widely.In this context many project more than 2000 ICO has come out.But many is not real projects.Some are SCAM Roll Eyes

.I also had to work on these kind of work.At first I could not way to know about it.But I got some sign from those projects;

1.No proper team and advisors.
2.No update in social media and TG
3.Promote the project until end of ICO
4.Colofull website without proper information
5.Fake person with fake accounts
6.No proper roadmap
7.No main idea about the project

These are the few things that I could be able to know about it.If you are on this kind of project say "Bye"...

Cashcash

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If we invest in the right ICOs; both bad ICOs will be reduced and we will have made money.

Cookies_N_Cream

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Quote from: ciacio84 on February 22, 2018, 07:21:55 AM

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

Someone also told me a month ago that 90% of ICOs focuses only to the benefit of the company or the developer. I think this is predictable since most ICOs are there only because of profit, turning all investment into a scam after later months to years. We can't really blame those investors who participated on ICOs as they see the project promising because they are also after some profit.

JetSet11

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I was surprised by the high number, but I suppose that it's true. I mostly just stick to ICOs that are curated by sites like ICOdrops, so I usually avoid the scams.

Bybox

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Yeah it is true but you need to know that we can still make profit from scam ICO so nobody care about it for short term. If the investors and community believe in the project then the price will increase since most of the ICO didn't have any MVP yet so you can considering that 90% are scam.

yanxuanyunshan4

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I object to that. There are some scams, but most ICO is real. If 90% is a hoax, no one will work for any reward.

I can understand that 10 percent of an ICO is a good project that will give you 5--10 times the return on your investment.

Mattacoin

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Quote from: ciacio84 on February 22, 2018, 07:21:55 AM

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

Vitalik pulled that number out of somewhere, over 90% of statistics are made up. You also don't have to give money, you can get airdrops or get bounties. Also, is Ethereum really money? I would think less than half are scams but most are pipe dreams. Calling something is SCAM is quite an accusation and is libel, if you think something is a scam, report it to the police, mention it directly and don't hide. To paint 90% of ICOs as scams is ridiculous. Sure 95% wont succeed, they are copycats and have weak teams. Hopefully due diligence can help a savvy investor pick out a much higher percentage of winners than 1/20. I hope to profit off 1/3 of my ICOs and profit immensely in 1/10.

The world is cracking down on ICO scams, take a look at QSP (QuantStamp) and ICO check, the US government, Facebook and other entities and coins that are looking at ending this fraud. Do your research!

RondoAnyar

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Quote from: bohr on February 26, 2018, 07:14:32 PM

Quote from: ciacio84 on February 22, 2018, 07:21:55 AM

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I do not know if that is accurate, most icos will fail that is correct but there are more ways to fail than a project being a scam, the developers may not have the ability to make a project successful, the project is simply too revolutionary, the project lacks a good marketing campaign and it fails, another project appears and displaces them, as you can see there are many reasons besides being a scam of why an ico projects fail.

failures can occur in a project because of several factors such as lack of preparation of the team and developers, because at this time a lot of new teams that have not experienced in ico so I see it reasonable to be called as scam ico because the achievement is not good and failed .

bohr

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Quote from: ciacio84 on February 22, 2018, 07:21:55 AM

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I do not know if that is accurate, most icos will fail that is correct but there are more ways to fail than a project being a scam, the developers may not have the ability to make a project successful, the project is simply too revolutionary, the project lacks a good marketing campaign and it fails, another project appears and displaces them, as you can see there are many reasons besides being a scam of why an ico projects fail.

jackflag

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Quote from: ciacio84 on February 22, 2018, 07:21:55 AM

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I'm a little disagree. There are scams in ico but not all. . According to statistics for 2017 there were about 15-20% ico scam. But this does not mean that all ico - scam. Most of the iso conscientiously relate to investors. They collect capitalization and go to the crypto exchanges and continued develop theirs products.

Crypto_lion

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Quote from: ciacio84 on February 22, 2018, 07:21:55 AM

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I wouldn't say 90 percent of ICO are scam but most of the Ico will fail either because of competition or because of the team not being able to execute their idea .So be careful in selecting the ico

StephenieDuong

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Some ico change its status to scam in 2018, and more will become scam. I found lots of project have nothings for sure, no real roadmap, no real product, no real team and still get millions investment.

MV7

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People use the word "scam" too easily nowadays.

There's a big difference between a scam, where a project intentionally lies, and a failed project. I can understand 90% of ICOs failing, but i have a hard time believing they're all outright scams.

EvaGC

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You can also chose an ICO based on a company's trayectory, for example, if they already have a working-circulating product.

Robst

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Yes. True. That's why dudiligence is so important. 90-% of ICO's being a scam is actually quite positive for me I'm a selfish way because it makes the pool of potential investors drastically smaller. Decreasing competition

SamboNZ

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It's pretty much true for me, many ICO's now are just scam, so it's better to do some researching, studying and analyzing before investing in an ICO. Most ICO's projects are too good to be true or unrealistic therefore you better avoid it because most likely it will be a scam.

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