Stop sponsoring ICO/IPOs without escrow!

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

Quote from: kelsey on August 27, 2014, 08:33:56 PM

escrow or not all IPOs here are scams Shocked

i agree 1000 zillion % and mostly because of the context / environment they are released in.
if we had the same level of protection that stock holders have in the US stock market for example then i woudl say *maybe..
but we have a market a Free For All market where SCAMS are not even against the forum rules LOL
i am repeating myself so..

anyway i see them as a step backwards for the Altcoin scene as in rather than an improved distribution method we have one that is worse !

I would never EVER touch any of these scam coins ever !

KriszDev

sr. member

Activity: 364

Merit: 250

What is the meaning of IPO and ICO I know both for buy coins before release but what are the original words?

smalltimer

sr. member

Activity: 252

Merit: 250

stop sponsoring ipo/ico alltogether.
Coins need to start from the ground up. Period.

kelsey

legendary

Activity: 1876

Merit: 1000

escrow or not all IPOs here are scams Shocked

blockjoe

member

Activity: 115

Merit: 10

Quote from: Spoetnik on August 27, 2014, 06:06:47 PM

stop doing them period.

this is not the stock market etc with Regulations..

it is NOT appropriate for these scamming fuckheads to apply shares, ICO/IPO's to an existing SCAM MARKET.
This shit was already pretty damn scammy as it is.
those just made it way worse..
they provide an easier way for them to hide their scams.. that is it !

ICO/IPO is one of the great idea that kills the alternaters. You have to stop these scams.

Spoetnik

legendary

Activity: 1540

Merit: 1011

FUD Philanthropist™

stop doing them period.

this is not the stock market etc with Regulations..

it is NOT appropriate for these scamming fuckheads to apply shares, ICO/IPO's to an existing SCAM MARKET.
This shit was already pretty damn scammy as it is.
those just made it way worse..
they provide an easier way for them to hide their scams.. that is it !

Nullu

hero member

Activity: 532

Merit: 500

Quote from: rdnkjdi on August 27, 2014, 02:27:43 PM

Quote

The ‘get rich quick‘ mentality that is required to constantly get defrauded

Think that pretty much sums this entire forum up ...

People need to take off their green-tinted spectacles. The scammers wouldn't bother if there weren't people lining up to fill their pockets.

spacehopper

member

Activity: 121

Merit: 10

Quote from: Amph on August 27, 2014, 02:47:22 PM

to be honest, they are bad even with escrow

I heard there was a problem with syscoin's escrow.

Amph

legendary

Activity: 3248

Merit: 1070

to be honest, they are bad even with escrow

rdnkjdi

legendary

Activity: 1256

Merit: 1009

Quote

The ‘get rich quick‘ mentality that is required to constantly get defrauded

Think that pretty much sums this entire forum up ...

KriszDev

sr. member

Activity: 364

Merit: 250

Yea ther are too many scams and shitcoins.

HeadsOrTails

full member

Activity: 233

Merit: 102

https://bittrex.zendesk.com/hc/en-us/articles/203127460-ClusterCoin-Doing-the-Right-Thing

Clustercoin ICO investors were lucky to be covered by Bittrex's escrow in this case.

If the "community" doesn't stop with these ICOs it's sponsoring scammers and destroying the altcoin landscape, and whatever regulation comes from this is going to bite Bitcoin in the ass to boot.

The only ICOs to consider should have very strong escrow terms.

AltcoinHerald did a great article on this.

Quoted in part:

Quote

The ‘get rich quick‘ mentality that is required to constantly get defrauded by ICOs stems from the same stream of human greed that is encouraging altcoin exchanges to constantly list them. The trouble is, as the malfeasance mounts and the dollar losses continue to sky-rocket, regulation is the only possible outcome.
Escrow terms must be changed now. They must implement a solid legal framework written by a tech-savvy law firm that protects all parties during the transaction.
Until this happens, altcoin ICOs must be avoided at all costs by anyone who is unwilling to lose all their money.

Topic: Stop sponsoring ICO/IPOs without escrow! (Read 1017 times)