Topic: Why do people have no faith in ICO's? - page 11. (Read 1112 times)

Not all, but many ICO’s are just scam to rip people off. There are projects and ICO’s that are being launched, but don’t even have any utility or real world applications and are just based on theory and no technology is there. People have lost their faith because of such scam ICO’s. yes, there are also good ICO’s that have technology and potential. I would like people to do their own research before investing in and ICO and invest in them if they seem legit though one can never say exactly.

Yes, people read to do all the background check and research before investing some significant amount into an ICO. People investing in ICO must check their whitepaper, must follow their telegram ground and twitter page to get regular updates about their work, must check their existing partnerships and whether it is legit and with well know company and must check the team that is working on development of such project and ICO. If all these are properly checked and considered, people would be able to invest in the right ICO’s rather than some scam or ponzi schemes.

I give a few factors here:

- The guy really does not know how ICO works
- Oran is just listening from someone's failure
- The person is retired as an ICO Investor because it always fails

Most of us are already used in ico's, most of them are just scam or fraud, I've witnessed many ico's and most of it failed but i also saw some good ones and i regret on not investing on them.

Exactly. The phrase was well put. Its like finding a needle in a haystack. There are so many poor ICO’s nowadays that its hard for people to do research for all and find the right ICO to invest in. So, people usually invest in the existing projects with good technology rather than getting into an ICO that might prove scam. Research is at most necessary before investing in and ICO.

There were also incidents when bitconnect shut down its website and ran with the investors money. Such incidences have made people aware of ICO scams and have made them to invest in existing crypto currencies rather than taking risks in new projects.

There are too much scam ICOs projects who want only cheap money. One more argument is too little people know about this market.

People have no faith in ICO because majority of ICO are scam while others dump so hard by the dev and the value of the coin plunge and go deep. Those are experience of majority of the investors who tried and lose in ICO. But there are still good ICO that you can count on, you just have to do your own research before you invest in  ICO.

I don't know about others, but I have absolute faith in the ICO model.
I think it is one of the greatest developments in the crypto world.
I understand that people are suspicious because a lot of startups flat out suck, but this keeps you from seeing the truly outstanding startups that would never have been able to form if it wasn't for the ICO model.

For those that got burned by an ICO, they should be blaming themselves and no others.
And coming on to bitcointalk and screaming FUD or SCAM is behavior that will guarantee them making even more mistakes in the future.

Instead, learn from your mistakes and make more informed decisions next time.

For me personally, I have not lost yet on an ICO.
In fact, the vast majority of ICOs I have done have been huge returns.
Proportionally, the amount of time I spend researching projects is insane!
But all that time to whittle down potential ICOs has definitely been worth it.

Simply because faith is not necessary needed in every thing where the one that should play is reason. Faith is about religious concern and cryptocurrency world is not religion but financially matter.

Cryptos have made everyone suddenly a financial whiz.  They read a couple of tweets that sound smart, and they think they have knowledge about the market.  It is sad that people assume expertise in a field where truly few have real expertise.

Most of them aren't really investable, are scams/frauds or simply don't deliver. I'm very picky with the ICOs I get into and I've got 2 on my horizon, the one in my signature and another one, Atonomi. I kind of want to have coins in my portfolio that I can hold on to for a couple of years such as:

ChainLink
Universa
Skycoin
and those two ICOs I just mentioned. For example I think the Ncash project is a good one altough very niche for high end clothing stores and what not. I don't see that stuff being put up in the more low tier clothing stores.
I also don't think it really needs a token, imo they could have found a private investor and just start knocking on the doors of these clothing stores. I'm pretty sure VC's would be interested in a concept like this. I agree they should use blockchain because of the data security though. I can be wrong but its just my opinion, so I rather invest in the platforms/infrastructure projects as they have a wider scope of implementation and usecases. Universa for example has already signed Ernst&Young for blockchain implementation for the public sector and are working on more deals, besides that Universa can host all kinds of stuff that can be tokenized such as stocks, derivates and more. I saw an ICO that had patents on 3D printing models and whatnot and I thought they had a cool idea regarding the tokens. They fundraise the amount to get started which wasn't a lot and in the case of an IPO your tokens get converted to shares in the company. I think a lot of ICOs should go a similar route. An exchange like HybridBlock trying to raise 50M and in return I get an utility token that people can use on their exchange doesn't really get my engine warm. If such an exchange is succesfull they would be raking in billions but I don't really ever get a share of that. Sure tokens going 10-20x is all a lot and very cool but you don't know when this stops. Unless I really think the token makes sense such as with Chimaera where the token features an integral part in the games and gameplay developed on their blockchain/platform I don't really care. Utility tokens are by far one of the worst investments you can make. There's a reason most top coins have their own platform and blockchain.

Since there are no rules and regulations to check and govern the listings of ICOs, any one with an idea regardless whether it works or marketable or not will want to have an ICO. Naturally not surprisingly more than 70% of the ICO fails and with many scams among them. It is obvious in order to instil faith and confidence in investors the crypto community has to work together to put in place some rules and checks for future ICOs.

ICO's image is a little bad because people think it's a fraud. This idea will change one day, but first everyone has to trust ICO.
If the number of participants increases, ICOs will succeed and nobody will be afraid of it.

It's not like what you think. There are different people who think differently about investing in ICOs.
For instance some think they are all scam becuase they would have already invested in some ICOs which would have scammed them. Some think that ICOs don't generate enough profit because of theire earlier investment in some ICO would have resulted in a loss. Some think ICOs are a good way to earn huge profit in a small amount of time which is why they invest in them. So in most cases, the people who are against ICOs are becuase of their past bad incidents with ICOs.

there are too many scams now and most projects are just air, its nothing strange that most of them have a truely bad performance after hitting exchanges, why should we give our money to them?

because now a days, most of the ICO's are scam, and nothing more. but there are few ICO's that are really good to join/participate. but it is hard to find one. for me ICO's are something you regret after joining, because you got loses and wasted time, but as i said there are a few ICO's that worth it to participate but they are rare to come out or to find.

Due to that circumstances that's why many people find ICO's are not worth to believe with and also ICO's are prone to be dump and this factor also added some bad reputation to this kind of offering. But as you said its so good if we let our eyes opened for some good opportunities and better we should wear some better understandings on ICO since In this scene we need a hard balls to earn since sometimes solid ICO project pump when their platform officially launch.

A lot of people do not have faith in ico because a lot of them turn out to be a scam. It takes time and money to develop the project, and people expect a quick profit. In my opinion, it is worth supporting good projects with perspectives.

why would you claim the people have no trust in ICOs? Amounts raised by the ICOs are saying exactly otherwise. Your post is just another funny fud attempts for whatever reason...

I don't think all people don't trust ICOs. Some have already earned from ICOs so I think they still believe in it. I think we should continue supporting ICOs so that earning will be continuous.