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Topic: Why I am quitting ICO's - page 3. (Read 6126 times)

hero member
Activity: 1638
Merit: 505
June 19, 2020, 05:08:37 AM
In my eyes, most ICOs were either scams or were promoting technology with no added value. To me, the best solution is to buy them at the start and sell the parts when the project gained traction and/or visibility.
Indeed, without existing permits or control over all ico projects it would be very risky because it could be a fictitious project and we all know that now ico is no longer interested even people are reluctant to see good project reviews that still use the absence of the ico system transparency
hero member
Activity: 616
Merit: 503
★Bitvest.io★ Play Plinko or Invest!
June 19, 2020, 04:12:58 AM
In my eyes, most ICOs were either scams or were promoting technology with no added value. To me, the best solution is to buy them at the start and sell the parts when the project gained traction and/or visibility.
newbie
Activity: 34
Merit: 0
June 19, 2020, 12:49:09 AM
Time of ICOs is passed. Now ETH or BTC can be invested in other ways. From trading and mining\staking to dapps and structured deposits
full member
Activity: 560
Merit: 106
June 18, 2020, 11:48:15 AM
I participated in one project three years ago. So when they went public, there was incredible growth, but I decided to wait, as they predicted a higher price. And now for the third year this is such a small amount ... less than I bought ...
full member
Activity: 1232
Merit: 186
June 18, 2020, 10:39:13 AM
[snip]
Gone are the days that investing in icos are profitable and less scam. But now the situation is totally different, its rare to see a good project conducting an ico
Hmm but if we will base on the past history, ICOs will suppose to feel alive again when the next ATH comes since they can use btc's hype to increase their influence and gain many investors too. But honestly, I am a little bit doubtful regarding this because I do believe that most of us became smarter on spending our money. We already heard lots of stories about scams and failed projects and I think the lesson it brought us will be remembered even during the bullish days when everything seems perfect. .
its not a reliable way to gain with your invested money anymore.
Indeed, I also agree that those things are more productive than spending our time chasing for the "promising" alts Cheesy.
sr. member
Activity: 2828
Merit: 357
Eloncoin.org - Mars, here we come!
June 18, 2020, 08:45:19 AM
I decided to quit ICO's. From December till now I invested about 5 eth into several ICO's. Invest what you can miss, this is what was able to miss.

Right now the first few of my ICO's have reached the exchanges. Most are under performing, but this is related to the overall dip (can be read everywhere). I understand, but ICO token economics have changed also.

  • massive hardcaps
  • most is sold in pre-sale to big investors, leaving scraps for crowdsale
  • much attention to marketing, less to working product or realistic time lines
  • immediately available on EtherDelta and IDEX, sure sign of little interest in token economics/future
  • no lock on pre-sale tokens, whales take their x2, x3 or x-whatever as soon as possible (I would probably have done the same). Prices drop to below ICO price.
  • too many ICO's without distinctive differences.
  • too many ICO's in general
  • too much tokens reserved for team/marketing
  • many ICO's don't even have a crowdsale anymore (which perhaps is a good thing as the little investors are protected this way)
  • ICO prizes are quite high. 1eth = 1000/4000 tokens is pretty common, but with a hc of 40 million, this will not easily go x10 or more.

I was 'unlucky' to miss out on a few ICO's besides the ones I was able to participate in. Afterwards I am glad, since I was able to pick most up at a fraction of the ICO price.

Important as ever: DYOR as not all ICO's have a genuine solution to a genuine problem. Some may seem like a fantastic solution, but often it is marketing combined with a strong team, and not so much a great working product.

And who am I? I am definitely a nobody Tongue, but still wanted to share my experiences and perhaps save people from thinking of getting on board of the next x100 ICO Smiley

p.s. when a Telegram has over 20k subscribers all screaming 'when lambo' with endless rows of animated gifs, you may also wonder if this is a serious block chain solution which will revolutionize 'x' Smiley

People should have read this thread since then specially those ICO investors that always been attracted with High profit promises but crying hard when they become a victim of scammers.
There are so many ICO and Victims all over the forum,but if they only realized this before then the losses maybe lessen and more had been saved.

Lucky for me that i only invested in ICO twice and both are profit brings me ,Though the first is Good income but the second is just a small bucks.
hero member
Activity: 3010
Merit: 629
June 18, 2020, 07:50:29 AM
Hahaha let's not be hypocrite here. "Some" is not enough, I guess the word "Most" is more appropriate Grin. When it comes to the cases of recent sprouting alts, most of the investors are just attracted on their profitability. That's all! They are not bothered whether it offers fastaer transaction, greater security etc. simply because there are already existing one before them which offers the same kind of feature. They are just for pump and dump schemes thus no wonder why hundreds of sh*tcoins are present in the market.
Gone are the days that investing in icos are profitable and less scam. But now the situation is totally different, its rare to see a good project conducting an ico, its not a reliable way to gain with your invested money anymore. Thus its better to find other ways to earn in crypto world like investing in top coins or offering your service if you have skills.
hero member
Activity: 1722
Merit: 528
June 18, 2020, 07:32:19 AM
I do not trust ICOs nowadays because most of it are worthless project. Their only goal is to earn profit and they do not have care on their products. Most of the ICOs nowadays are doesn't have a improvement and development after they listed in exchanges.
right, they seemed to only collect money from investors, then go from responsibility. and that is what worsens the image of ico at this time. although not all ico like that, but the current conditions make many investors disappointed

Although some projects are actually bad at managing, some are just destroyed by bounty hunters.

To be honest, they start the fall of the ICOs. When these bounty hunters usually receive their parts, they already list it in the market at a lower price. What other BH would do is to list them with a lower price then that goes on until the target price of the project will be bad. Some projects countered that some didn't.

ICO is not that bad but it has its reasons why it fell down and it is not always the fault of the developers, the marketings, and the hunters.
legendary
Activity: 2268
Merit: 1655
To the Moon
June 18, 2020, 07:27:23 AM
they hop in when they see the price of the coin is cheap? good quality projects wont never have a cheap price because they are good anyway which means there are a high demand on them . why those guys dont notice that logic ? there are some that invest too when the price of the coin is not really that cheap but they dont thought of the quality of the project , the reason that they invest is because they are expecting that the coin can grew more which is still wrong .

If you could make a profit from a real business for which an ICO is being held, the price of the coin would be comparable to the profitability of this business. In practice, we see the following picture: the money collected during the ICO brings profit to the project team, and the price of the coin may decrease, since it is no longer supported by the project team.
full member
Activity: 1750
Merit: 118
June 18, 2020, 07:13:36 AM
Some are not looking on the product of the project to invest with, but with the price when they are going to gain profit which become immediate that cause a panic selling on the market and exceed the circulating value.
Hahaha let's not be hypocrite here. "Some" is not enough, I guess the word "Most" is more appropriate Grin. When it comes to the cases of recent sprouting alts, most of the investors are just attracted on their profitability. That's all! They are not bothered whether it offers fastaer transaction, greater security etc. simply because there are already existing one before them which offers the same kind of feature. They are just for pump and dump schemes thus no wonder why hundreds of sh*tcoins are present in the market.

they hop in when they see the price of the coin is cheap? good quality projects wont never have a cheap price because they are good anyway which means there are a high demand on them . why those guys dont notice that logic ? there are some that invest too when the price of the coin is not really that cheap but they dont thought of the quality of the project , the reason that they invest is because they are expecting that the coin can grew more which is still wrong .
full member
Activity: 1232
Merit: 186
June 18, 2020, 06:33:10 AM
Some are not looking on the product of the project to invest with, but with the price when they are going to gain profit which become immediate that cause a panic selling on the market and exceed the circulating value.
Hahaha let's not be hypocrite here. "Some" is not enough, I guess the word "Most" is more appropriate Grin. When it comes to the cases of recent sprouting alts, most of the investors are just attracted on their profitability. That's all! They are not bothered whether it offers fastaer transaction, greater security etc. simply because there are already existing one before them which offers the same kind of feature. They are just for pump and dump schemes thus no wonder why hundreds of sh*tcoins are present in the market.
full member
Activity: 952
Merit: 107
June 18, 2020, 04:17:00 AM
Ico is good to invest in if you can actually make money if those projects will be listed in those big exchange and not on etherdelta and hitbtc were most thing that happened is dump and sell out of panic.
I don't think Ico itself is bad but what is bad is our attitude towards how this market work , no one want to invest in a project because he believes in the future of those project but just to sell for profits.
Some of ICOs good at the beginning but keeps losing its value later on when it is early listed on the exchange. Some are not looking on the product of the project to invest with, but with the price when they are going to gain profit which become immediate that cause a panic selling on the market and exceed the circulating value.
sr. member
Activity: 750
Merit: 258
June 10, 2020, 12:47:28 PM
ICO are full of scam. As the begin, there were many promising ICO which can change the blockchain in particular and the world in general. However, as the results, not many companies kept their words which make investors fall to believe in any other ICOs. Then, there were too many ICOs created cause they saw the sucess in other projects. At that time, more and more investors began to confuse and wondered themselves: what the heck is going on. However, people are always greedy. They just want to make money as fast as they can and in the results, many investors lost their money

My advice: Dont invest in any ICOs anymore. There are many other projects which are more promising out there and they dont need you to hold their tokens. Find another place to put your money and use them wisely
sr. member
Activity: 1400
Merit: 347
June 10, 2020, 11:12:33 AM
The problem with ICOs (and similar products) is something which plagues the internet in general: the hype trains.
From my experience, I can gather hype trains are usually bad, and deliver well below the expectations from the general public.
And the recent "zoomer" generation feed hype trains more than ever, thanks for their smartphones and connected networks, which works in concert towards taking the most possible profit from sponsors.

I've saw it happening with games. A certain game, which name I will not mention, have some mod projects which are being hyped for five, six years already, and never deliver any content. Instead, they make hype videos, in YouTube and Twitch, and get money from ads. Since there are thousands of players in their streams, they make tons of money, and thus keep postponing their "projects" to the future. It is much more profitable to let the hordes of idiots hypnotized by a future project, than to deliver the project.

The same happens with ICOs. The difference is that the ICOs appeals to a more mature audience (which happens to have money to afford it), but the principle is the same. And since is a mature audience, you use buzzwords to make it sounds "modern", so that they dont feel being left behind by technology. If you look at it objectively, most ICOs are promising the same things the main cryptocurrencies already do.

You dont make money from the project, but from selling the idea of a project. The project dont even need to exist, you can only make the part you are going to show and then lie to the public about its development. There will be nobody to check it, and since the public is enthralled by the hype, nobody will dare to question it, for fear of reprisals.
hero member
Activity: 1694
Merit: 722
Leading Crypto Sports Betting & Casino Platform
June 10, 2020, 06:40:54 AM
It's not like all the ICO/ITO/IEO are the same.
Sometimes, you invest on them and you can get more than 1000 percent profit out of it easily. But usually they don't know how to manage the project and that's why even if they get listed and become trade-able you have to sell all your investments for a cheap price.
In my own idea, if you don't trust the ICO rating websites and start digging about the projects yourself you have a chance to find a good one for investing in long and midterm.
full member
Activity: 1190
Merit: 117
June 10, 2020, 06:32:43 AM
Since IEO is increasingly popular and many ICOs are scams, for 2020 it is indeed not feasible for us to invest in ICO projects anymore.
I recommend investing in IEO projects, but certainly not all IEO projects are profitable. Even some IEO projects are proven scams.
Therefore, choose trusted and popular exchanges to be successful in IEO projects.
hero member
Activity: 2072
Merit: 656
PredX - AI-Powered Prediction Market
June 09, 2020, 02:48:50 PM
so what's your idea that IPO is actually better or what
Hey, have you read what DikkieD wrote on OP thoroughly? He never stated the alternatives of ICOs. He just explained the reasons why he quitted from ICOs. He has invested about  5 ETH on some ICOs, but finally he just got tokens from ICOs which have underperforming or bad values once they are listed on exchanges. That's what he exactly told to people on OP, there was no talking about other things like IEO, IPO, or STO.  Tongue
member
Activity: 277
Merit: 10
June 09, 2020, 12:21:52 PM
I so glad people are seeing reasons with me. I can’t even risk my money on ico again. i would rather wait and see how the coin play out when it enters market or i will wait for the dump after it’s released and buy at a far cheaper rate.
full member
Activity: 197
Merit: 100
QUIFAS EXCHANGE
June 09, 2020, 06:18:17 AM
so what's your idea that IPO is actually better or what
member
Activity: 454
Merit: 13
February 01, 2019, 11:33:47 AM
Really good OP. All the points are valid (ie. good team, good marketing, solid idea etc) but I think to say that most ICOs are scams in some of the comments probably misses the point. Many ICOs are not scams but they still fail to deliver because they are poorly executed by an inexperienced or incompetent team who have much idea about very little.
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