Topic: Problem of nowadays ICOs (Read 1844 times)
Most of the ICOs these days have no proper clarification of the product. Their whitepaper does not have enough details which can satisfy an investor to invest. Some of the ICOs are running just for getting fund without any implementation.
The problem with most new ICOs is a lack of a real-world product. They all give you the same blurb about being decentalized and how they are revolutionary and going to change the world, yet they do not have a useful product, and if they do, there's no legitimate business plan on how they will take over the world. Most don't even allocate a proper marketing budget outside of marketing to raise money for the ICO.
Do not let yourself become emotionally attached to any coin you have, or any ICO you are thinking of getting into. I will not write about which recent ICOs I think were not worth it, since I'm sure we can guess as a collective group of smart readers. That being said, if a company adjusts the rules of the ICO abruptly and soon before the ICO, maybe it is a sign to take another look and decide if you still want to buy the coin.
The main problem is bad preparation - some don't even have WP or roadmap, competitors analysis (and unique offer). And I found only one gaming project with live working app, right and clean WP. Maybe some of us know it - IQeon project
You're right. Many do not have sufficient training despite a good idea. I saw a lot of good ideas, but they did not achieve the goal due to the fact that they could not properly design the project and make a good advertisement.
Scammers are actually a thing right now but if you really look at the objectives of the ICOs and research or dig into it, you might be able to tell if it is a scam or not, probably.
The first problem would be that ICO's dont' get enough credit anymore, due to the fact that there are too many scams. So called developers conjure up an idea to make money and unfortunately some members of the community become the victims of scams.
Secondly, not all ICOs have a real plan or concept. The ICOs whitepaper and roadmaps are not accurate, not achievable or legit. There is zero vision and no actual mission, ultimately the ICO will go nowhere. These types of ICOs usually do not finish successfully and hardly raise any funds to support their project.
Thirdly, ICOs nowadays have no experienced teams. Having a team, a solid Board of Members and Advisers is most definitely the number 1 element in any ICO. The team is what will make things happen in the project. They need to maintain the project, be supportive and thrive to make the ICO successful.
These are some important factors that need to be looked at.
The main problem is bad preparation - some don't even have WP or roadmap, competitors analysis (and unique offer). And I found only one gaming project with live working app, right and clean WP. Maybe some of us know it - IQeon project
I feel you. A lot of investors and newcomers to crypto are FOMOs. They rush and theyre confident with it cause they think they would earn so much profits just because theyre one of the pioneering investors, this is a good idea though but you should research. Pioneering is an amazing thing but being unawared of your invested project is a dangerous thing. In this era, you should really be picky with iCOs because there are bunch of them and 80-90% are scam. You would know if it really presents an interesting intention to the community.
I think the biggest problem of ICo nowadays it is quality of project and teams who wants just earn money. I'm crypto entuthiastic and im frustrated when I see such count of ICO, it's just a golden rush.
I agree, you just need to know the question better. But the opportunity to get"easy" big money is in the air, so people sometimes just be blind.
I think the biggest problem of ICo nowadays it is quality of project and teams who wants just earn money. I'm crypto entuthiastic and im frustrated when I see such count of ICO, it's just a golden rush.
Recently everyone thinks ICO investment is a process of get quick rich scheme.
And it was proved in the initial months of 2017 where everyone who invested in ICOs are already got profited with 2 to 3 times profits on their investments.
But now it is difficult to get profits in ICO investments because lot of ICOs are not having any MVP or even not able to acheive their targets after funds has been raised.
And it was proved in the initial months of 2017 where everyone who invested in ICOs are already got profited with 2 to 3 times profits on their investments.
But now it is difficult to get profits in ICO investments because lot of ICOs are not having any MVP or even not able to acheive their targets after funds has been raised.
Since ICOs appeared pretty recently, there are no rules are regulations concerning these projects. Dishonest people use it and make bubbles — they simply collect money and vanish, closing their social accounts even. There are about 4% of ICOs that give very good profit to investors, but they exist.
I agree, investing in a coin with a good product, transparency vision and better outlook of the team like the upcoming Roboadvisorcoin, SALT etc solidifies investor trust.
Since ICOs appeared pretty recently, there are no rules are regulations concerning these projects. Dishonest people use it and make bubbles — they simply collect money and vanish, closing their social accounts even. There are about 4% of ICOs that give very good profit to investors, but they exist.
the main problem is those SOME of campaign managers who is making ICO bad in the eye of many people.. ICO is good way to introduce and raise funds but those scam managers making the ICO image bad.. thats why many of people thinking ICO is not proffitable and 90℅ of them making scams hahahah good for those scam managers ...
sime says quality
and build to trust by most of people
sime says quality
and build to trust by most of people
Could you please pointed out who is the managers that you are referring to? The last ICO that I know that pulled a stunt act is Confido. The bounty campaign manager is Atriz and he himself was also a victim. He invested 80% of what he was being paid so also lost in this scam. So I don't think that managers are giving ICO bad images. Even they can't even detect a scam ICO from the beginning that's why they accepted it in the first place. I guess it part of being a bounty or campaign managers, even though they are strict, they won't know if the project they have been managing will turn out to be a scam project at the end.
The problem with most of the ICOs is the overvaluation of the projects, you can look back at most of the most successful ICOs in the space even if you look at Bitcoin, they all started small, all the projects with $100 million valuation have all underperformed in the market.
There are a lot of sketchy ITOs coming up recently. I'm usually looking at 4 main things in ITOs (+ a little bit of gut-feeling):
1. How is the team? Who are they? What are their goals?
2. Is there something behind their token sale i.e a solid implementation?
3. Market feedback, how do people react to it?
4. Token sale parameters: how many tokens and why the amount? How many tokens are sold? How much for the team? etc.
I found a quite interesting project some time ago. It's called GetGame.io (https://getgame.io), it's a blockchain based game development platform. I run it through my checklist and I think it's quite a promising project. It has a solid team and a solid purpose (to make game development easier and more accessible), they have a strong implementation (a platform for game devs with all the necessary tools), feedback is very positive and they are only issuing 500k tokens for the ITO, indicating that they value their backers and don't do it only for the quick money grab. I suggest you check it out yourself, their ITO starts on the 30th of November 2017. I personally have high hopes for this project.
1. How is the team? Who are they? What are their goals?
2. Is there something behind their token sale i.e a solid implementation?
3. Market feedback, how do people react to it?
4. Token sale parameters: how many tokens and why the amount? How many tokens are sold? How much for the team? etc.
I found a quite interesting project some time ago. It's called GetGame.io (https://getgame.io), it's a blockchain based game development platform. I run it through my checklist and I think it's quite a promising project. It has a solid team and a solid purpose (to make game development easier and more accessible), they have a strong implementation (a platform for game devs with all the necessary tools), feedback is very positive and they are only issuing 500k tokens for the ITO, indicating that they value their backers and don't do it only for the quick money grab. I suggest you check it out yourself, their ITO starts on the 30th of November 2017. I personally have high hopes for this project.
the main problem is those SOME of campaign managers who is making ICO bad in the eye of many people.. ICO is good way to introduce and raise funds but those scam managers making the ICO image bad.. thats why many of people thinking ICO is not proffitable and 90℅ of them making scams hahahah good for those scam managers ...
sime says quality
and build to trust by most of people
sime says quality
and build to trust by most of people
Don't you think that the problem of ongoing and upcoming ICOs is not the quality of projects (certainly there are scam projects, but there are also a great deal of really working projects backed with technology) but the problem is in the quality of investors who don't really make their research and mostly even don't care do read anything about the project they are going to invests in. They are in rush to buy any altcoins because it seems to be an easy way to make money for them.. What do you think?
this is what happens, but if someone who has had a long experience and has been involved long enough on crypto they know what to do. but unfortunately for new investors. what you say completely I agree.
With ICOs it should be team, team and then team.
It's like VC funding on steroids. The most important element is team.
You need to be confident that the team is competent and trustworthy enough to deliver the project.
Which is why its scary that all these "We help you ICO" companies popped up. Because they hide the true competence of the team that will inevitably have to build and deliver the project / product.
It's like VC funding on steroids. The most important element is team.
You need to be confident that the team is competent and trustworthy enough to deliver the project.
Which is why its scary that all these "We help you ICO" companies popped up. Because they hide the true competence of the team that will inevitably have to build and deliver the project / product.
So far, the biggest problem of the ICO is still the problem of fraud and poor-quality selection of the project by his team. To eliminate possible risks, still need to regulate the conduct of the ICO. This may be state or public regulation, or their mixed forms of control. What is the use of blaming investors in this case? They already suffer from such ICO.
I agree that many people now a days simply invested at ICOs without reading and they don't even know what they had invested. So my advice is try not to involve too many ICOs as we won't have so many times to monitor it. Just invested those potential good project ICOs.
Some ICOs really need to stay away especially for those intentionally just want to raise their money illegally and the project has totally no value at all.
The ban of ICO in China in fact is the good one and they want to have the regulation for those ICOs. With the regulation, I believe it is good for investor so that they won't invest in illegal or scam project.
Some ICOs really need to stay away especially for those intentionally just want to raise their money illegally and the project has totally no value at all.
The ban of ICO in China in fact is the good one and they want to have the regulation for those ICOs. With the regulation, I believe it is good for investor so that they won't invest in illegal or scam project.
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