Topic: The greed of ICOs (Read 1280 times)

That's fucking retarded.
You are not an "investor" and these are NOT companies.
Nor should they be.

Do i even need to go on from there ?

It is not all about greed,if some company starts an ICO and if people are willing to invest in it ,where is the greed in it,everyone wants to make a good profit and if the general public thinks that it is a good project then you will be getting huge investments and since this is not limited to any countries i still think it is not that big of a money,opportunities are unlimited.

That is true. I believe in what you say bro. There are too many ICO out there and most of them provide a good condition to investors and promise about the opportunity they can get. However, It is little bit different since I have seen that all investors always gain the profit

Yeah, it all about greed

You can say ICOs in today look like as HYIP or Ponzi project in 2015-2016. More people not know the project they invest is real or not, they only hear "Oh, this is a best project, invest it and you can take x10 bla bla bla" (reality in my country ). I think in next time we can see a huge scam in ICOs, and the value maybe to hundreds million dollars!

I agree. Some ICOs are too greedy and it will probably turn out to be a scam in my opinion.

too many negative thoughts in this threat. when was bitcoin launch people said what is this bitcoin and who will use bitcoin. that time people make jokes on bitcoins. but now everyone want bitcoin. very funny.

This remembers of the Internet bubble of the 1990's. Including the potential valuation after 1 or 2 decades, even if the market fails initially.

I have an idea for a cryptocurrency if any devs want in

Lol.

This thread is valid but that is innovation my friend..lol

New ways to solve things that are better/quicker is quite possibly the definition of innovation lol

Well said, won't last forever. People need to realize they should only invest in products that are innovative.  Many aim to accomplish the same thing in a different way.

So it is like a higher level of gambling where they pay more for a not so sure ROI or more?
Maybe they think it is less riskier than gambling itself.
I dont know muh about those who throw their money and what are their reasons but I think this answer is the right one for me. Although I am also supporting one altcoin I think ICO is just some ways for the developer to make money in an instant.

WOW Bancor is obscene ! What a vulgar display of greed  

Well said and summarized perfectly.
I think users are selling their support cheap.. it's valuable !
They are selling themselves short profit wise too.
A path with class, integrity & patience would deliver far higher profits.. vs chump change.

I seen the scales tip long ago..
Those type of users became the majority and then things went to shit in a hurry.
The majority just says anything to keep sucking off the scammy pyramid/ponzi teet.
They are vultures and vampires and won't back down unless stopped by force.

I decided to just quit trading vs mingle with trash.
And sadly it speaks volumes of the dev's.
The fact that they WANT these users buying their coin says it all.
You'd think a dev would be after supporters not profiteers hovering over the dump & run button.

The investards flocking here are not bringing much of use to the table.
I have also long been concerned it will simply bring on unwanted attention / regulations etc.
But they don't care.. they will dump and run leaving the rest of us to deal with the aftermath.
Just like what happened in 2013.
Back then we had MASS SCRYPT CLONING and people were buying GPU's like crazy.
Guys were buying them and turning a massive profit for them on eBay because of high demand.
Fast forward 6 months and they were all fumbling over each other to sell them.
Then we seen a quiet period were more & more users left.. and then prices slumped harder & harder.

I see it happening all over again NOW !
But since they can get a mittful of chump change RIGHT NOW they don't give a fuck.

The advent of crypto has been interesting.
It highlights what we pointed out.. the human factor.

If we can we will.. ruin things.. ALWAYS !

@bathrobehero
This is why we can't have nice things  

If you meant that this is why ethereum will dominate the market, I don't agree with you. It's the ethereum very simlar to a baloon right now. I can pop out.

I totally agree with this prediction.
Because as everybody already knows: Nothing last forever.. as with everything in life.
Anybody with a brain can figure this out.

As with Bancor.. that is horrible for an ICO to just do a flash sale like that.
Not allowing anybody but big investors to buy into it.
I heard they sold out in 20 secs after it was released which just sounds like a quick money grab which garnered them $150 million in their crowdsale.
It is very hard to believe this to be true... if it has any truth to it.

Hate to break it to you but if you just held ETH you would already be into very nice gains.

People are buying into the ICOs with not a single final product released and usable.

Real companies get round funding and have to demonstrate progress before the next round.

Most of these companies won't make it. 50% of businesses fail through lack of leadership. Good, motivated leaders are a rare thing. Give them millions of dollars and they become even rarer (note the amount of CEOs that have left for other projects).

ETH is a speculative vehicle like any other. If you are going to speculate, you may as well buy and hold ETH, which is where the speculative money is. This is where the new money comes in, in order to buy worthless ICOs.

Everyone knows that nothing last forever , so everyone is trying to make the most when you can and that is what is happening here.I am with Op with everything he said,the amount of money these companies are collecting are just huge and you really do not need those kind of money to run a company.

i think the OP is right. nothing more to say. i hope this won't last forever.

There is sense in what you say there buddy.

These devs are taking wayyyyy too much for the team. In your words they want to become overnight multi millionairs.

For the first time in my digitalcurrency-history I invested a little sum of 102 dollars into Monaco ICO.

They will be millionairs while i will be watching my screen to see if my monaco coin went up a dollar and be happy about it

We are being scamed

 Could not have said it better myself, but ill give it a shot , the "hype" surrounding bitcoin and ICO's has developed into a psychological system or people feeling an accrued loss which has essentially lead to many individuals wanting to invest in literally every ICO in order to prevent losing out on the potential next Bitcoin despite the fact that like you say many are scams in order to make a quick buck. Most people investing in ICO's currently have not even read the white paper but instead simply have seen the name of a new altcoin (most likely on this site) and thought to themselves "must be a good idea if people are talking about it", but lets not forgot THOSE PEOPLE ARE PROBABLY BEING PAID TO TALK ABOUT IT. From a coin offering perspective, of course people with the development capabilities will take advantage of this, I mean how many other ways can you raise X*Millions in X*Minutes? BECAUSE MCDONALDS WONT CUT IT MY MAN, YOULL PROBABLY EVEN STRUGGLE WITH THAT 200K HARVARD MBA.  

Final Note: If you are going to invest in an ICO, do the math, read the white paper, look into the founders and make a decision YOURSELF.