Scammers ruin ICO fund raising - page 5.

charlop24

copper member

Activity: 560

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Quote from: Stanlo on August 15, 2019, 10:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

I agree with you, developers are the most affected in this IEO issues. I ones heard that a developer paid about two btc to hold an IEO on a cryptocurrency exchange and after the period of the tokensale was told that no token was sold after there was huge movements in the exchange which was planned to make it seem that the tokens are been sold out.

Teraboy

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Quote from: Stanlo on August 15, 2019, 10:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

When that ico used trusted member in this forum as escrow and that cna be trusted.
But it looks like IEO is starting from ICO dude and exchange site will be offering a good offer to the good ico only.
But ICO already lost transparency and this make a lot of people are thinking about bad opinion on ICO.
So many scammers are abusing this kind of fundraising but with IEO and it much better right now.
I hope exchange site will consider to hold the amount even longer.

xenomorphe1

full member

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If i understand correctly, there is a risk that the team creating the IEO on an exchange can be scammed? The exchange don't give back the money to the team? I have not heard any news about this kind of scam. But it is possible that it has happened. Do you have an example of this kind of scam?
But at the end, an ICO has to pay to be listed on an exchange like an IEO. And sometimes the exchange can scam the team by accepting the fund and not listing the coin.
But maybe doing an IEO on an exchange is more expensive than a normal listing. I don't really know.

Ridwan Fauzi

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The mindset of some investors won't look the centralized or decentralized an investment place. They only look the purpose profit that they want and the risk that will be faced when they store money. As you may know, the ICO project has been spreading up by some negative news who make the investor believe an ICO is not a safe way anymore to store their money. I don't think this assessment will be subside on their mind since there is a new way to take part to investing in new project who have a safe way. I remember that there is someone who got 300x profit when he invested his money through an IEO if I'm not mistaken the exchange is binance.

coin-investor

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Quote from: Stanlo on August 15, 2019, 10:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

ICO will eventually run out of control because there is no regulatory board to check if the roadmap is attainable and the testnet and mainnet are really going to work, everyone is for himself, and there are a lot of connivance going on from ICO rating, some bounty managers and influencers.

Every one of us here has become a victim one way or another and if we are not going to be very careful we'll going to be a victim again.
investors still want to invest and always on the look for a good project, and IEO has become their new ground.

adamlillian

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Scammers only affect a small part. For experts on project evaluation, they will know what scam projects are and potential projects.
so we need to learn more about how to analyze ICO projects. It will help us less fear when investing.

chocopapaya

full member

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Well, there is a totally different way of looking at it.
If a brand new company was stupid enough to get scammed by a third party, then they deserve it.
And if you are stupid enough to invest in that kind of a project and you lose money, you deserve it.

Sounds harsh, but if a new company can't even handle their fundraising properly, then how on earth can they be successful later on.
People blame scammers, exchanges, bounty platforms and everything but don't realize the most basic thing:
The project was doomed before it even began.
It was doomed because of no innovation, no professional competency, no technical prowess, no business sense.
The vast majority of ICO/IEOs are like this.

masterrex

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Quote from: Stanlo on August 15, 2019, 10:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

ICO and IEO was the same in terms of fundraising method, the only improvement was only the security since the tokensale was made inside the exchange and the exchange acted like a escrow to the funds that raised from token offerings, While ICO fraud was continue to wreaking havoc on the ICO market, in the other hand IEO was already gaining ground from the heart of investors. No doubt IEO was the new rising star for fundraising in the crypto-space. But its different when IEO was made on the fraudulent and shady looking exchange i think thats the team own mistake.

thiscomm

jr. member

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Looks like you have misunderstood or you have written wrong. because what you have clear is a work process of the IEO program not ICO. if ICO all funds go to the development team, scam projects often occur due to the development team that is less responsible for their tasks.

ginobitcoiner

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Quote from: Stanlo on August 15, 2019, 10:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

ICO projects are not as good as you would expect, some investors will be more interested in IEO, because with IEO, investors have a guarantee that the coins or tokens will be listed on a definite exchanger.

without a third party the DEVs of an ICO will be easily tempted by the funds collected from investors and become scammers without a plan.

Bravext

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Your topic really doesn't relate to the body of your post, as for scammers ruining IEOs, I am yet to see an example of an IEO that has been conducted and the funds are not given to the team as agreed, maybe it's because I do not follow up on projects that does not conduct their IEOs in too tier exchanges, this is basically an indication that you should stick to trust worthy and verified exchanges as long as fundraising is concerned.

electronicash

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Quote from: Stanlo on August 15, 2019, 10:19:53 AM

If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

the party would have been going on still if those ICO were managed properly, there were escrows before they take them out of the picture. that's when they started groupoing a lot of these team doing ICO without escrows. there were some that ended quite good though. IEO is just going to make all these worse if all these small exchanges never been heard of are going to do IEO for some projects.

eternalgloom

legendary

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Well, then you should just stick to IEO's on reputable exchanges, it's not that hard.
I'm personally glad the whole ICO craze is over.

I mean, while it's not really ideal that IEO's are much more centralized, if done correctly, they're much safer for the average investor.

Stanlo

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If ICO wasnt been plague by scammers acts ICO will way better than IEO, ICOs are programmed to run on the projects very own website and no any third party involvement at all so any fund raised will go directly to the dev or project team, no loss of funds to scam exchanges,after some successful IEO fund raise on some exchanges they dont bother to send the funds back to the project teams

Topic: Scammers ruin ICO fund raising - page 5. (Read 4898 times)