Blockchain is the technology that underpins bitcoin. It is a distributed ledger that records all of the transactions in bitcoin publicly. Many industries from finance to insurance have talked up the potential of blockchain technology in making some of the processes they do cheaper and more efficient.
Digital currencies have gained a lot of prominence in the past year spurred by increases in investment. In August, the total market value of publicly traded cryptocurrencies reached a new high of around $160 billion according to data provider CoinMarketCap , with Bitcoin representing half of that value. This has prompted the financial world to figure out how to incorporate the new form of transacting into their own models.
ICOs are unregulated and do not provide protection to investors in case of fraud or loss. In September the People's Bank of China declared ICO's illegal and have banned them. South Korea have since joined the backlash against ICO's and has banned them as well. The U.S. Securities Exchange Commission recently charged two companies running ICO's with fraud and selling unregistered securities.
ICO's are not about raising capital.
ICO's is about creating network effects and adding value to the ecosystem. = + net utility.
Topic: WHY 99% OF ICO IS SCAM? - page 3. (Read 2179 times)
99% of icos are scam because they dont have product and they tokens are not used, if token not using in service then its useless token for sure thats why 99% of icos are scam.
There are really a lot of scams out there in the market. Be careful. Alway check their website, their communities, are they active on social media etc. Also, do you believe in their project etc. For example, I follow closely SciDex. They are creating a new type of smart contract generator for complex transactions. So that even regular businesses that need legally binding contracts can be on the blockchain. That’s improving the whole blockchain ecosystem, if you ask me.
This topic began to pessimist. I do not believe this statement because I am analyzing IO projects and I see that good teams implement and develop various promising projects. ICO - a great discovery of modernity to attract investment. Yes, there are flaws in the form of fraud, but they will be resolved in the near future. I am sure there will be opportunities for inevitable punishment for fraud.
since there are no regulations in the crypto market, it's easier to run away with the money of the investors. besides, it's also easier to deceive people. everybody wants to make some quick money but very few are willing to research on crypto properly or the ICO.
How you know that 99% of the ICO's are scams ? How did you came with this statictics ? From where did you took them ? I don't think this is legit and maybe you have some bad experience with some ICO's but this is your problem when you are putting your investment money.
the problem is that even if they are not scam, there is just bad business plan, bad team, bad luck etc and the project fails. .. and will be called scam aftherall
Because investors are dumb. (if you want to be quick rich and don't DYOR, scam projects will go on until strict regulation which is for protecting dumb investors)
Most of the people looking for more money without doing any work so they choose to scam the people and being rich in short period,the scam is not oly happening in the crypto world but in the crypto world the anonymity makes more people who want to do scam by learning about what is the easy way.By starting a scam ICO they don't have to reveal their identity most of the scam ICOs uses the fake profiles even if they get caught it is impossible to fin who is the scammer.
I feel submission is not true as it is not backed up with detailed facts and figure, Yes we have lots of scam ICO, BUT I feel the 99% stated is enough to discourage investors into the cryptocurrency space and also have a negative impact on real ICO project.
If you really didn't trust the icos then you can forget it and try to divert your money to more establish coin. Since icos are getting crappy and you need to go through a smallest hole just to get into a most prominent project, a regulation will be the answer to stop icos from dying or else crypto space will literally leave a space.
Fraud does not cause doubts, but not in the percentage that you write, if you are unlucky, it does not mean that this is so in fact
Hi, lads!
There are many ICOs ongoing at present but in 2018 a lot of them is a SCAM. Why does this happen?
It will be interesting to hear your opinions.
Thanks, friends!
Most people have chosen their ugly part of life to be criminals or fraudsters. That is the major reason. That is why they derive pleasure from stealing through fake or scam ICO projects. There are many ICOs ongoing at present but in 2018 a lot of them is a SCAM. Why does this happen?
It will be interesting to hear your opinions.
Thanks, friends!
Hi, lads!
There are many ICOs ongoing at present but in 2018 a lot of them is a SCAM. Why does this happen?
It will be interesting to hear your opinions.
Thanks, friends!
There are many ICOs ongoing at present but in 2018 a lot of them is a SCAM. Why does this happen?
It will be interesting to hear your opinions.
Thanks, friends!
the reason is blockchain technology and this eccosystem is decentralized. there is no official regulation against scamming. that is why there are so many people trying to scam people. but i am sure that after a while people will understand that it is not very easy to scam others anymore.
i dont think 99% ico was scam, you are too much for saying that, maybe its true mostly ico now was scam, but not 99%.
The topic is not true. During 2018 and now there are a lot of ISO projects that collect planned amounts of money and go to exchanges with a good price of tokens. According to my observation of good ICO projects - 40-50%.
I don't think that 90% of ICOs are scams. but, currently there are quite a lot of ICOs that are scam. so we have to think carefully before investing in a project, because I think it's very difficult to know that.
The topic is not true. During 2018 and now there are a lot of ISO projects that collect planned amounts of money and go to exchanges with a good price of tokens. According to my observation of good ICO projects - 40-50%.
What occur in my mind about SCAM ICO is, there are bad people that trying to collect easy money by creating a SCAM ICO.
That is obviously a criminal, but since they work in blockchain that usually anonymous, so it's hard to find who's behind that SCAM ICO.
That is obviously a criminal, but since they work in blockchain that usually anonymous, so it's hard to find who's behind that SCAM ICO.
because they has finished collect ethereum from investors. ico is a very high risk investment because no country or organization protect you when ico become scam project. when the ico's owner know that is true. They just collect your's ethereum and don't do anything, the price of the tokens down everyday and they don't care. You can hold or sell as you wish. Very simple, finally the investor is a loser.
because most ICO want a lot of money without doing anything here, but I think here is not a 99% scam ICO, you just exaggerate it, there are still many ico here that are real and achieve success
Due to declining market many ICOs do not reaching the soft cap and many projects struggling with the development and cannot fulfill on promises on . The market situation we have this year does not helpful for ICOs.
Yeah! there is a big effect of market deflation rate into the developement of ICO in a blockchain. Therefore many investors now a days are unable to invest in an ICO compared to the Coin in the market which was most promisingly gain big profit.
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