Topic: WARNING! this is very misleading - page 6. (Read 1076 times)
Tracing the funds that they have accumulated will be very hard specially if the raised fund is not only in cryptocurrency but also with fiat. As not all projects will be using the main tokens to gain funds specially in a bear market as cap will be harder to achieve if only altcoins and BTC are used.
It's indeed misleading. Without a proper audit, the exact (or even rough estimation) of the gathered funds cannot be justified. In fact, even if you were able to check all the ICO addresses, you couldn't determine the legitimacy of the source of fund. They could use loans to fill up those addresses.
That's a quite useful information for all investors who trying to invest in some IEO or ICO. Sometimes they are too lazy to check the ICO address and they are just relying with that bar (if the bar show them softcap has been reached, it would be attract more investor to come)
Please fellas ,take a minute to look at the image below
Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap ,what came to surprise me is some investors depends on this bar to decide whether they will invest or not ,they want to be sure that more investors are buying well you might be wrong.
1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.
2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.
3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.
Rely more on your researches ,no knowledge is lost and knowledge is indeed powerful.
Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap ,what came to surprise me is some investors depends on this bar to decide whether they will invest or not ,they want to be sure that more investors are buying well you might be wrong.
1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.
2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.
3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.
Rely more on your researches ,no knowledge is lost and knowledge is indeed powerful.
I never rely on that bar I already knew that they can be misled into thinking that they already reach the soft cap or the hard cap, sometimes they spend with their own funds to buy their own token so people will think that it's gaining ground and people are really investing.
You are right this can indeed be misleading and this is always caused by hype; that is a project that is hyped might showcase this to attract investors at the end the result will be clear that nothing was raised. Also, the surprising thing is that most of these projects after showcasing this will still find it hard listing on good exchange.
This post is very insightful. Many investors fall prey of this, some projects fake their ICO progress bar for sales, just to get more investors. I've seen a few cases which immediately they kicked off token sales, the bar was already around the middle, giving false claims of hitting softcap already. Well, progress bar shouldn't be that yardstick to ascertain whether it's worth investing in an ICO or not.
only fools will immediately believe that, without knowing the truth. there are already many projects that provide such data in tokensales. but many of them lie. so don't believe it, unless they publish the smartcontrac address. this can be a guarantee that the project has real data.
Please fellas ,take a minute to look at the image below
Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap ,what came to surprise me is some investors depends on this bar to decide whether they will invest or not ,they want to be sure that more investors are buying well you might be wrong.
1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.
2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.
3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.
Rely more on your researches ,no knowledge is lost and knowledge is indeed powerful.
Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap ,what came to surprise me is some investors depends on this bar to decide whether they will invest or not ,they want to be sure that more investors are buying well you might be wrong.
1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.
2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.
3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.
Rely more on your researches ,no knowledge is lost and knowledge is indeed powerful.
that's why we expect all projects to use the IEO. with the IEO we can see their income directly, the exchange will definitely provide information about sales, teams and more. this is great for preventing fraud. and the exchange can also be an Escrow, so the funds are not directly held by the team. this is a safe way in my opinion.
ICO is an old way that is very detrimental to the investor, so the ICO should have been abandoned.
The bar is obviously not properly scaled. Either is the work of some crappy web designer or outright scammy. In anycase, one should not invest in a project because the team says they have raised XYZ amount. Do not take their words for it. Ask for their contract address (most reliable proof) or other proof of funds received.
Please fellas take a minute to look at the image below
Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap,what came to surprise me is some investors depends on this bar to decide whether they will invest or not,they want to be sure that more investors are buying well you might be wrong.
1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.
2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.
3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.
Rely more on your researches,no knowledge is lost and knowledge is indeed powerful.
Every projects with ICO fundraising has this bars showing on their website if they've met softcap or hardcap,what came to surprise me is some investors depends on this bar to decide whether they will invest or not,they want to be sure that more investors are buying well you might be wrong.
1)Some projects are so shady that they will feed investors fake bars indicating that the sales is going on very well just to make you invest.
2)How can you just depend on a bar to decide if they project is good or not?even if people are rushing a ICO project doesnt mean the project is good,ask what happened to many investors who blindly invest in IEO projects when they rely on exchanges.
3)some projects presale fund raising might start very well and ended up not meeting hardcap in the end.
Rely more on your researches,no knowledge is lost and knowledge is indeed powerful.
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