Why Exchange Run ICOs may be a bad idea

hovrah

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Quote from: dulinivanrus on February 02, 2019, 11:13:53 AM

Quote from: VanDeinsberg12 on January 30, 2019, 12:16:38 PM

Quote from: BQ on January 30, 2019, 11:22:15 AM

if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?

It seems like binance is not putting any limitation to how much someone able to buy BTT. It looks like they are only accepting the big whales that can be considered as accredited investors only. that makes sense 1k buyers acquired all of BTT on binance.

Why should the exchange make restrictions. Who wanted to buy it, but some just did not have time as the sale of tokens lasted 18 minutes. I heard that the demand was huge and the exchange began to work unstable during the sale.

Apparently the trading market did restrictions at its discretion, because it could not billiards for the entire cryptocurrency market and do something for the benefit of the cryptocurrency. today, we are witnessing a general fall in the cryptocurrency market, and these factors have a bad effect on weak exchangers.

dulinivanrus

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Quote from: VanDeinsberg12 on January 30, 2019, 12:16:38 PM

Quote from: BQ on January 30, 2019, 11:22:15 AM

if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?

It seems like binance is not putting any limitation to how much someone able to buy BTT. It looks like they are only accepting the big whales that can be considered as accredited investors only. that makes sense 1k buyers acquired all of BTT on binance.

Why should the exchange make restrictions. Who wanted to buy it, but some just did not have time as the sale of tokens lasted 18 minutes. I heard that the demand was huge and the exchange began to work unstable during the sale.

masterrex

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

Well these is crypto everyone can speculate. But whats wrong with those coin offering on exchange, Besides its not a shitcoin remember its Bittorrent its already an establish name and now just tokenized. Lets just accept the reality the so called Whales are exist in this space so why we bothering ourselves with it. just focus on what are we doing to earned better results.

wuvdoll

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

We can't really know if its a good thing or a bad thing without testing it out. I mean how would we know if it will be better or worse without actually testing these kinds of BTT deals on binance like giants. That is why I support the first 10 ICO's that are on binance because that way we will see how it will be for the people who participate and then come to a conclusion if it was a good idea or not.

If all 10 are bad then we will not continue with it or at least give any importance to it, if there are 2 or 3 good ones among the first 10 then we will decide it could be good or it could be bad, if over 5 of them are good then we can say it was a good decision. Hence, we need to wait and see how it will be for the next ones and how they will be AFTER the ICO as well.

Maxre

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binance is now a popular exchange in altcoins but if they also run ICO it's a decision the CEO has taken.
I strongly disagree because with that there will be many more exchanges that will follow in the footsteps of the binance.
which makes the ICO can be manipulated by the pope.

smyslov

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There are advantages and disadvantages, the coin will automatically be listed, this is not actually the first time, they just copied Yobit, who from time to time launch new ICO in their market and eventually get pumped those ICO coming from their platform from time to time.

Svelto

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Well, I guess any project won’t be any limitation to the amount a person can buy. The more funding raise and earlier the ICO end will be better for the project. To be frank, limitation to the amount might just delay the success of ICO.

muslol67

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Although not as expected, the number of ICOs is decreasing. In particular, recently published ICOs usually belong to cryptocurrency exchanges. So we started to reach the satisfaction point. There will not be much new coins anymore, I think.

Caladonian

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Quote from: Bittalk12 on February 02, 2019, 08:03:52 AM

I could say that Binance is not that dumb to agree to sponsor the tokensale without any proper agreement from BTT. I am pretty sure that they are also aware of the pump and dump scheme which could lead to lowering the credibility of Binance so there might be some sort of penalty on BTT side if theu will be unable to fulfill that agreement. Besides, Binance are freezing an account that has a fraudulent activity of pump and dump scheme.

Good point, binance is not that dumb though this idea of catering ico is really a risk for their business, but like you I also see good points why binance
allowed this to happen aside from it's just pure business and there's money that flow after, BTT still above the first offer and those who able to bought
this coin when the offer begins are all happy with the gained that they've got, after this there's chances that we will be able to see more project that
will also offer the same.

Erik Goff

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

There were only 1000 buyers and these 1000 buyers caused technical problems on Binance? That is not good news for Binance Grin

.

Bittalk12

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I could say that Binance is not that dumb to agree to sponsor the tokensale without any proper agreement from BTT. I am pretty sure that they are also aware of the pump and dump scheme which could lead to lowering the credibility of Binance so there might be some sort of penalty on BTT side if theu will be unable to fulfill that agreement. Besides, Binance are freezing an account that has a fraudulent activity of pump and dump scheme.

BitcoinHodler

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HODLing is an art, not just a word...

not just that but it is also bad for the reputation of that exchange too. simply because all these ICOs are going to live for a short time and then turn into actual shit and when the coin is turned into useless pile of code in user's wallet that is worth zero, they will start blaming anybody who was involved in it including the exchange themselves.

andor.gellenhidi

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What's the difference? If people spend ICO or the exchange, which not so long ago began to work in the field of cryptocurrency. Do you think this is normal? It seems to me that in general it is not quite normal. Because today it is really a significant problem.

various

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Binance does this for the first time and you do not have to join this ICO. But before Binance, this exchange ICO sales had already begun in exchanges like Latoken. This is not a new method for ICO's.

jacafbiz

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PredX - AI-Powered Prediction Market

There is nothing that has no advantage and disadvantage, ICOs use to raise fund through exchanges in the early days of ICO, Poloniex use to do it and not surprise developers are opting for it now, especially with Binance knowing fully well that it will be listed on the exchange for certain and no need to pay ridiculous listing fee to get it again on big exchange

iqlimasyadiqa

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Quote from: Jating on February 02, 2019, 06:18:10 AM

It doesn't makes any difference, whales have been manipulating the price of every ICO in the horizon so I wouldn't be surprise in this case.

Quote from: marksayson on January 31, 2019, 04:33:27 PM

I don't think there can be no manipulation, instead it would help regulate the ico because the exchange will be the one conducting the tokensale. And it could boost the popularity of the coin.

You really don't understand it. How can it regulate or prevent manipulation? Exchanges has no control whatsoever. Just look at those exchanges conducting their own ICO's, all of them are below ICO's price, the bearish sentiments might be a contributory factor, but for me it's pure manipulation.

this situation almost occurs in most exchanges. this is normal because market conditions are in a bad situation. there are many influences that make the situation negative and therefore when a team developer does not have the power, they will experience a failure, that is, with a decrease in price when listing on the exchange.

Jating

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It doesn't makes any difference, whales have been manipulating the price of every ICO in the horizon so I wouldn't be surprise in this case.

Quote from: marksayson on January 31, 2019, 04:33:27 PM

I don't think there can be no manipulation, instead it would help regulate the ico because the exchange will be the one conducting the tokensale. And it could boost the popularity of the coin.

You really don't understand it. How can it regulate or prevent manipulation? Exchanges has no control whatsoever. Just look at those exchanges conducting their own ICO's, all of them are below ICO's price, the bearish sentiments might be a contributory factor, but for me it's pure manipulation.

CoinsOrDie

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Quote from: Sundaey on February 01, 2019, 04:05:11 PM

I actually think this is a good way of selling token or coin, more easier and convenient to the buyers. I will really love this if the exchange can play more role to stop scam project by doing enough verification of the project owner and a little about investors of only verify accounts.

Reality is not like that. You will not be able to easily purchase those token at ICO. Look at BTT, no one can buy the ICO. There are only 1000 lucky people and the rest are sharks and whales manipulating it. And the price of BTT has increased 5 times compared to the ICO price, obviously BTT has been manipulated by big investors and we have to buy it at a much higher price.

martin1221

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I think this is their strategy to dominate the crypto exchange industry. Forces users of their exchange to buy their tokens in exchange for benefits they can acquire as holders. I don't know if this is a fair practice but as users, you tend to buy to avail these promised benefits.

jupppo

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I don’t agree with you. Seems that you didn’t buy BTT tokens and now you are angry. As for me, I bought them in exchange and sold with 30% profit. It is enough for me, easy money without risks

Sanford

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Yes, it is no secret to anyone. They decide what to lower what to raise. Community and conspiracy. Such is the cryptocurrency world. As they say all around fraudsters.

koreacryptofan

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Quote from: Sundaey on February 01, 2019, 04:05:11 PM

I actually think this is a good way of selling token or coin, more easier and convenient to the buyers. I will really love this if the exchange can play more role to stop scam project by doing enough verification of the project owner and a little about investors of only verify accounts.

The problem with exchanges is that they pay attention little attention to users and have no responsibility. But we need them. So the situation should change in some way.

Sundaey

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I actually think this is a good way of selling token or coin, more easier and convenient to the buyers. I will really love this if the exchange can play more role to stop scam project by doing enough verification of the project owner and a little about investors of only verify accounts.

yesyes18

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Quote from: Gary Levanevskii on January 30, 2019, 03:44:36 PM

I think that buying tokens on the exchange is convenient. Therefore, I do not think that ICO on the exchanges is a bad idea. I think that in the future more and more projects will enter the market this way.

Yeah and I also think same because just think about it, who wouldn't invest in a coin sold by Binance/Kucoin/Huobi or any of the major exchanges. At least, it gets better security over there since not just anybody can go to Binance that they should sell their tokens for them. So I think that may be the new initiative.

Olayinka225

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I don't this is true. Hardly have we seen a certain exchange coins been depreciated at all even if the growth is not that significant. But atleast some of them are doing good and some are worth investing.

hihelen

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Quote from: CleverOracle on January 31, 2019, 05:04:07 PM

Initial Exchange Offering (IEO) is a new way for any projects to sell their coins via exchanges, it gives some assurance to the buyers or investors that the funds will be hold on those exchanges like an escrow. I see a lot of newly projects doing this kind of thing since the bear market started.

What will it give to them?

CleverOracle

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BBOD - The Best Crypto Derivatives Exchange

Initial Exchange Offering (IEO) is a new way for any projects to sell their coins via exchanges, it gives some assurance to the buyers or investors that the funds will be hold on those exchanges like an escrow. I see a lot of newly projects doing this kind of thing since the bear market started.

suzanne5223

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Quote from: LordShanken on January 31, 2019, 04:22:10 PM

It all depends on how the tokens have been distributed. If the majority is in the hands of one person, then there is a high probability that manipulation may occur. If the tokens were distributed evenly between 1000 investors, it should not happen any manipulation.

Like you said it all depend on how the token was been distributed but what you said about the token not to be manipulated if 1000 investors hold the token was not true because if the person which is the highest holder dump his holding it will still affect the price of the token in market. Besides, when the apple co-founder sold his holding have you forgotten that it affect the price of bitcoin market.

Meanwhile, i dont see anything bad in exchange run ICOs but the project team have to create a genuine strategy which will boost the price of the token.

marksayson

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I don't think there can be no manipulation, instead it would help regulate the ico because the exchange will be the one conducting the tokensale. And it could boost the popularity of the coin.

CaMeRoNy

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Quote from: LordShanken on January 31, 2019, 04:22:10 PM

It all depends on how the tokens have been distributed. If the majority is in the hands of one person, then there is a high probability that manipulation may occur. If the tokens were distributed evenly between 1000 investors, it should not happen any manipulation.

Unless all investors are interested in this, as in principle, and this scheme operates. Of course there are big whales, but more manipulation takes place when several players are interested in achieving some one goal.

LordShanken

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It all depends on how the tokens have been distributed. If the majority is in the hands of one person, then there is a high probability that manipulation may occur. If the tokens were distributed evenly between 1000 investors, it should not happen any manipulation.

BQ

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CoinMetro - the future of exchanges

I don't know the specifics but www.coinmetro.com are planning on having an ICO platform aswell, hopefully it'll be more open..

mdzahed134

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SOL.BIOKRIPT.COM

I usually not seen before Binance selling ICO token. BitTorrent token is the first time i think. I don't know why binance CEO anger, in the public every opinion not always postive even not negative. Latoken running ico sell a lot project also i see dobitarde exchange this is not a bad idea. Because investors can easily buy token without any additional process like as KYC.

encryptedht

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Will everyone need BTT to trade? Did they said it?

kindbtc

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SAPG Pre-Sale Live on Uniswap!

I too find tgis strange if some ico raises funds or sells its token on some exchange, exchanges are not for raising funds they are for trading so i think traditional way of icos raising funds is normal to me and if there are other platforms specific to help raise funds they are good too but raising funds on an exchange does not make much sense.

boolog

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

For me it sounds also as if only the big whales got btt token. To stabilize the btt price, maybe that is good, even if the price can be heavily manipulated. Still, you should not hype an ico just because it is done on Binance.

Gary Levanevskii

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I think that buying tokens on the exchange is convenient. Therefore, I do not think that ICO on the exchanges is a bad idea. I think that in the future more and more projects will enter the market this way.

rosezionjohn

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I see your point and the suspicion from having only 1000 buyers is warranted. I wish there would have been more participants. On the other hand, this could turn out good too. Other major exchanges may follow soon and with better policy to distribute to as many holders.

romero121

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casinosblockchain.io

Exchanges running ico's is not at all a bad idea, because each and every ico go for listing depending on different exchanges. If they have their own exchange, it is an easy task and gains good reputation. Most ico tokens gets distributed, but lacks in listing on exchanges. Coming to the BTT, they're a big protocol with worldwide userbase. Now they've made their tokens through the TRC-10 Tron platform. As they're already established the token sale went well within few minutes. With every project similar thing won't happen.

masterzino

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

There is no need to be a bad thing. Binance are getting another source of revenue, the ICO get insta buyer traffic and listing and it's more probable Binance to check it deep is it worth it. Because they are lining their reputation with direct ICO listing.

Hitbtc had similar market an year or two ago and it was quite popular.

semobo

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I just now learn about that ICOs were run by binance but i don't think it is a good idea unless they know those projects have some good future and find value for the tokens because of they run a failed ICO means their reputation will be disturbed and why they are doing this when they are at most preferred exchange by traders.

ynatopak14

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Binance will have the demand as long as it is running on their own exchange.
People will seek the 50 percent off from their transaction fees on using like BNB.
That 50 percent s really huge if we are talking about the number of tokens to be transact especially if you are doing daytrade.
This will help the coin to have the demand.

tk808

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

Binance will eventually destroy their reputation altogether through these types of events. The damage has already been done, and Binance is receiving a lot of backlash (from general discussions) because of this event, it's also depicted on the markets btw. When investors/crypto enthusiasts dislike certain actions and become vocal about it; that's how companies rise and fall in crypto very quickly. Especially with centralized and monopolistic enterprises taking advantage of their platform to promote and sell a new shitcoin.

Lets not forget CZ's remarks after Cryptopia hack, Binance has done a lot of damage to themselves over the past month. No one will remember the other extraordinary events/actions Binance has and is taking, the only things that matter are the mistakes and failures.

ansi

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I can see from a whole total perspective, i think th Binance move was total bullshit doing this " ICO platform ", it's like they wanna dominate the cryptosphere for themselves, so any ICO that gets there will get so hyped eventually, why? because it's on " Binance ICO Platform ".

I guess there is already working platform for ICO money raising a stuff like that, it's still doing it through some exchange & i can see this a whole BUSINESS, the bad type of business one chasing money wherever it is.

Binance is looking for any other kind of gathering money in this cryptosphere because of this bear market, it's not a shame to chase money, but been such greedy, i won't be surprising seeing them doing another platform for ICO review too, or a DEX too... !!!

This is going out of hand actually, as the ICO been done there will be listed in Binance eventually because BTT will be trading in there tomorrow January 31-201), imagine that !!!

I don't like this Monopoly Kind of strategy, crypto is already screwed thanks to this Monopoly of BTC & major cryptos out there where good crypto projects have 0 chances to compete with them.

fudster

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You'd be lucky to have bought the first, did they offer bonus to the very first few who bought the tokens?
I'm not a fan of bittorrent but if it was piratebay who released tokens, I'm probably the first to list in the whitelist.

Quote from: sulis sudibyo on January 30, 2019, 12:20:03 PM

Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I think it will be a place for the Whales to manipulate prices. and those who will suffer are the givers in the exchange later. there will be a dump and pump during the initial weeks of the coin listing

Pump and dump always happen in every coin even with BTC. There are just traders with lots of money to spend who already aimed higher.

sulis sudibyo

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Quote from: yesyes18 on January 30, 2019, 11:13:32 AM

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I think it will be a place for the Whales to manipulate prices. and those who will suffer are the givers in the exchange later. there will be a dump and pump during the initial weeks of the coin listing

VanDeinsberg12

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Quote from: BQ on January 30, 2019, 11:22:15 AM

if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?

It seems like binance is not putting any limitation to how much someone able to buy BTT. It looks like they are only accepting the big whales that can be considered as accredited investors only. that makes sense 1k buyers acquired all of BTT on binance.

BQ

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CoinMetro - the future of exchanges

if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?

yesyes18

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So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

Topic: Why Exchange Run ICOs may be a bad idea (Read 338 times)