Agreed. A working prototype along with feasible idea, good team is what that matters.
A little more common sense and technical knowledge would be enough for anyone to determine whenever it was SCAM or not
Topic: Why Most ICO's are SCAM ? - page 7. (Read 4501 times)
There had been lots of successful ICO in the past and as we all know in this world scammers are all around taking advantage of everything that can benefit themselves. Since scammers know more people are attracted and making investment on lots of ICOs so they use this opportunity as well to fool investors and run their money. We just need to be keen observer and make really good decision before entering any investment so we don't end up losing our money for scams.
This picture that "all ICOs are scams" is a lot dangerous to the future of the technology. I truly believe that we are living in a transition time where all kinds of business are beeing migrated to the blockchain in a way we can benefit from the descentralized way of services. The technology has a lot to evolve yet, Ethereum, solidity, smart contracts...all of this still need so much to do, but if scammers kill this opportunity and take off the incentives of the real good projects all the community has a lot to loose. What we can do is research, and research, and a bit more of research. Invest not because of the speculation, but because we found that group of people that has a lot to add to this whole thing. With time will be always more difficult to be a scammer, I believe.
Maybe, in some points, you're right but this doesn't change the ico craziness. Let's have a look at the altcoin announcement forum and you'll see what I mean. This is just crazy to see 20+ new ico every day.
I agree with you. It's really ridiculous to see all of these announcements with no website or product. However, I have seen a trend of these companies having a hard time getting crowdfunded. Some are barely meeting their min cap or not getting any support at all. For example, TribeToken opened their ICO up yesterday and received 2 ETH their first day. Looks like people are getting smarter with their investments as well.
This picture that "all ICOs are scams" is a lot dangerous to the future of the technology. I truly believe that we are living in a transition time where all kinds of business are beeing migrated to the blockchain in a way we can benefit from the descentralized way of services. The technology has a lot to evolve yet, Ethereum, solidity, smart contracts...all of this still need so much to do, but if scammers kill this opportunity and take off the incentives of the real good projects all the community has a lot to loose. What we can do is research, and research, and a bit more of research. Invest not because of the speculation, but because we found that group of people that has a lot to add to this whole thing. With time will be always more difficult to be a scammer, I believe.
Maybe, in some points, you're right but this doesn't change the ico craziness. Let's have a look at the altcoin announcement forum and you'll see what I mean. This is just crazy to see 20+ new ico every day.
I can't argue with you more on "7) Behind the scenes it is all about Money". Bitcoin was a great idea and it lead the cryptocurrency to an unimaginable extent.When that happen i was expesting more interesting technologies and ideas but all we got is scammers that wants a little more.It's actually sad.
Who even told you ico are scams they are 2 types of ico one is legit ico where they actually raise millions and other one is when they are able to raise only some thousands but they show it as millions without any proof. ICO surely have no business model i totally agree with you but if you see any successful ico who listed their coins on exchange people normally sold their coins 2-5 times the price than initial ico which is all that matters for most of investors.
Legit looking projects can easily turn into scams. They be legit at the beginning then scam people. Check populous, polybius, onplace, and some others, you'll see what I mean.
in the first place op did not state that every ico are scams, theres the word most on it which indicates that the greater part of it tend to be as scams but obviously not all of them
there are certainly legit and successful ones. but yeah legit looking doesn't mean its legit and even if it collected million funds doesn't also mean its legit so if you're gonna
invest. don't invest an amount you can't afford to lose. bottomline is there is no way to find out if the compaign will be successful but if its legit and the devs are serious there is a
way. if they are transparent e.g. show the faces of their team, transaprent addresses etc. but some are also hiding it for privacy and security.
that the past will repeat. Actually it has help the entire crypto market to improve and people are now eager to be part of the history if it will be big in the future.
Who even told you ico are scams they are 2 types of ico one is legit ico where they actually raise millions and other one is when they are able to raise only some thousands but they show it as millions without any proof. ICO surely have no business model i totally agree with you but if you see any successful ico who listed their coins on exchange people normally sold their coins 2-5 times the price than initial ico which is all that matters for most of investors.
Legit looking projects can easily turn into scams. They be legit at the beginning then scam people. Check populous, polybius, onplace, and some others, you'll see what I mean.
in the first place op did not state that every ico are scams, theres the word most on it which indicates that the greater part of it tend to be as scams but obviously not all of them
there are certainly legit and successful ones. but yeah legit looking doesn't mean its legit and even if it collected million funds doesn't also mean its legit so if you're gonna
invest. don't invest an amount you can't afford to lose. bottomline is there is no way to find out if the compaign will be successful but if its legit and the devs are serious there is a
way. if they are transparent e.g. show the faces of their team, transaprent addresses etc. but some are also hiding it for privacy and security.
Who even told you ico are scams they are 2 types of ico one is legit ico where they actually raise millions and other one is when they are able to raise only some thousands but they show it as millions without any proof. ICO surely have no business model i totally agree with you but if you see any successful ico who listed their coins on exchange people normally sold their coins 2-5 times the price than initial ico which is all that matters for most of investors.
Legit looking projects can easily turn into scams. They be legit at the beginning then scam people. Check populous, polybius, onplace, and some others, you'll see what I mean.
in the first place op did not state that every ico are scams, theres the word most on it which indicates that the greater part of it tend to be as scams but obviously not all of them
there are certainly legit and successful ones. but yeah legit looking doesn't mean its legit and even if it collected million funds doesn't also mean its legit so if you're gonna
invest. don't invest an amount you can't afford to lose. bottomline is there is no way to find out if the compaign will be successful but if its legit and the devs are serious there is a
way. if they are transparent e.g. show the faces of their team, transaprent addresses etc. but some are also hiding it for privacy and security.
How do you all feel about token distribution? I've seen some concerned if a company's token sale is greater than 60% of the available tokens.
We are thinking about this differently for our upcoming ICO. For example, the following.
Primarily because this industry / market are still young and the uncertainties around it. We feel that not having a future reserve poses risk to the company (and coin / token) in the event that was an unforseen circumstance such as hack during the ICO, etc. Lastly, it allows for future sales or injections into the market exchanges to help with managing price fluctuations, etc. Would the distribution above concern you?
For reference, Civic had the following model:
Thanks.
We are thinking about this differently for our upcoming ICO. For example, the following.
- ICO Reserve - 30%
- Future Reserve - 30%
- Ecosystem Development and Partnerships - 20%
- Employee and Advisor Option Pool - 20%
Primarily because this industry / market are still young and the uncertainties around it. We feel that not having a future reserve poses risk to the company (and coin / token) in the event that was an unforseen circumstance such as hack during the ICO, etc. Lastly, it allows for future sales or injections into the market exchanges to help with managing price fluctuations, etc. Would the distribution above concern you?
For reference, Civic had the following model:
- ICO Reserve - 33%
- Partnerships - 33%
- Company Reserve - 33%
- Token Sale Expenses - 1%
Thanks.
So in fact we have to find good projects with a low marketcap.
Good projects that are not good at marketing
Good projects that are not good at marketing
Who even told you ico are scams they are 2 types of ico one is legit ico where they actually raise millions and other one is when they are able to raise only some thousands but they show it as millions without any proof. ICO surely have no business model i totally agree with you but if you see any successful ico who listed their coins on exchange people normally sold their coins 2-5 times the price than initial ico which is all that matters for most of investors.
Legit looking projects can easily turn into scams. They be legit at the beginning then scam people. Check populous, polybius, onplace, and some others, you'll see what I mean.
Why Most ICO's are SCAM ?
Cause they have a scammy distribution model, and not most, but all of them! All of them have a scammy distribution level that's why they are scams.
Because icos are the simplest way to trick on people. They can just create a fake images fake site fake names fake photos and convince people that they are real. It is easy and even if they find 10 20 investors that is mostly enough for them. 
This picture that "all ICOs are scams" is a lot dangerous to the future of the technology. I truly believe that we are living in a transition time where all kinds of business are beeing migrated to the blockchain in a way we can benefit from the descentralized way of services. The technology has a lot to evolve yet, Ethereum, solidity, smart contracts...all of this still need so much to do, but if scammers kill this opportunity and take off the incentives of the real good projects all the community has a lot to loose. What we can do is research, and research, and a bit more of research. Invest not because of the speculation, but because we found that group of people that has a lot to add to this whole thing. With time will be always more difficult to be a scammer, I believe.
Most of the ICO are scams because the developer just want a quick money and like to lure people with unrealistic project and sweet promise, and I like how OP teach us how to spot a good and bad ICO, ICO supposed to be giving us a better coin to invest, but most of the developer scammed the people and giving ICO a bad reputation
If those devs will scammed people and ruined the reputations of the ICO he will be liable for his mess. I don't thinks most of ICO really scams people but in a specific manner those devs just did the unrighteous acts which made the ico reputations with bad impressions, due to theit greediness of money. Hopefully this will not be over yet and morr will be gaining trust on different ico again, because profit is really been having good impact to crypto currencies economy.
Who even told you ico are scams they are 2 types of ico one is legit ico where they actually raise millions and other one is when they are able to raise only some thousands but they show it as millions without any proof. ICO surely have no business model i totally agree with you but if you see any successful ico who listed their coins on exchange people normally sold their coins 2-5 times the price than initial ico which is all that matters for most of investors.
No even some obvious scams raise millions as well, its just a bigger scam than those that raise only thousands. The problem is that investors here are too gullible and need to understand the value of research and demanding a working product before money is raised.
We've seen some very succesful ICO in the past. Some of us feel that they have missed the train so they are looking for new ICO to invest. But I believe it is a bit too late to invest now. Too many scams, hacks, greedy dev team, etc.
It's the temptation, when an ICO already collected a lot of investors fund from their project they are tempted to run the funds. Because it's an easy money already and they can just reproduce and recreate a project that can easily rebrand it, change their names and they will just come back. This is what I've seen base on my observation.
Some ICO scams happened when they were attacked by hackers upon their ico, when the project didn't reach their cap even they really serious on the project but it fails and have no enough funds and as what mentioned above there were traitors sometimes in some ico teams that run away and took the fundings. So better think and know the details of the ico there are still many Ico that are worth investing.Thanks for adding that, I didn't considered the possible hacking incidents because I wasn't able to witness the ICO's to become scam because of hackers. As I mostly see ICO's that are starting to become scam when the developers are backing up and erasing their trace once they are ready to run away from their investors.
Who even told you ico are scams they are 2 types of ico one is legit ico where they actually raise millions and other one is when they are able to raise only some thousands but they show it as millions without any proof. ICO surely have no business model i totally agree with you but if you see any successful ico who listed their coins on exchange people normally sold their coins 2-5 times the price than initial ico which is all that matters for most of investors.
I really like the points presented on the opening of the thread. I always look at the teams first and then if the product makes sense. Those two factors are crucial. A team must be known and with a track record. Unknown teams are dangerous/risky.
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