Topic: Why Most ICO's are SCAM ? - page 9. (Read 4476 times)
Any one who falls in the hands of scammers really have himself to blame although one cannot be totally careful because there have been some projects that possesses the characteristics op explained and still turned scam but only few would rn out that way. But with proper understanding and basis of what the project is to rely upon, I don't think anyone should be blame other than me if I just put my money is something blindly simply because I saw the ICO ANN thread nicely designed.
Do you know that most of the ICO's are scam .
Well if you don't here are some reasons behind it :-
1.) Most of these ICO's have no business model
2.) Most of these ICO's would never be profitable
3.) High Market cap for a project / ICO with no development , code or any past experiences
4.) Most of them have a 1 year roadmap which means no vision
5.) 5 months of hard work and for that they get Millions in funding
6.) Dumb people running the shitshow
7.) Behind the scenes it is all about Money
What makes an ICO legit ?
1.) Working product
2.) Practical Use case
3.) Legit Team
4.) Limited Funding ( Based upon Fair Market valuation )
Why are these days ICO raising so much money ?
Answer :- People are dumb and greedy they want to invest in the next ETH , STRATIS , WINGS , EDG , IOTA , XEL but they do not understand that Stratis had less than 1000 contributors and most of these ICO's happened during bear season when most of the people were not active in the scene .
Should I invest in ICO's ?
Yes , some ICO's are legit and can be good investments such as MobileGo , Edgeless , Civic etc which can yield you good ROI in long term but then always due diligence is important .
Should I invest in ICO's with high marketcap ?
No , High marketcap means a lot of people have invested in an ICO seeking for quick buck or the ICO team has been dependent on marketing to get more investors which makes a lot of weak hands so when the marketcap is not able to sustain the demand and supply the price will likely go down . When the price goes down is the time to invest but not during the ICO .
I fomo like a noob during ICO as I don't want to miss it .
Well then you are a fuking sheep who want to buy in today and be a millionaire tomorrow well it does not work that way , you can always buy after it hits the exchange . Always have a good risk management system in place where you are able to manage your risk/reward ratio according to your portfolio .
Always :- Ask tough questions to the team and you will know the reality
Best Regards ,
VerthagOG
Well if you don't here are some reasons behind it :-
1.) Most of these ICO's have no business model
2.) Most of these ICO's would never be profitable
3.) High Market cap for a project / ICO with no development , code or any past experiences
4.) Most of them have a 1 year roadmap which means no vision
5.) 5 months of hard work and for that they get Millions in funding
6.) Dumb people running the shitshow
7.) Behind the scenes it is all about Money
What makes an ICO legit ?
1.) Working product
2.) Practical Use case
3.) Legit Team
4.) Limited Funding ( Based upon Fair Market valuation )
Why are these days ICO raising so much money ?
Answer :- People are dumb and greedy they want to invest in the next ETH , STRATIS , WINGS , EDG , IOTA , XEL but they do not understand that Stratis had less than 1000 contributors and most of these ICO's happened during bear season when most of the people were not active in the scene .
Should I invest in ICO's ?
Yes , some ICO's are legit and can be good investments such as MobileGo , Edgeless , Civic etc which can yield you good ROI in long term but then always due diligence is important .
Should I invest in ICO's with high marketcap ?
No , High marketcap means a lot of people have invested in an ICO seeking for quick buck or the ICO team has been dependent on marketing to get more investors which makes a lot of weak hands so when the marketcap is not able to sustain the demand and supply the price will likely go down . When the price goes down is the time to invest but not during the ICO .
I fomo like a noob during ICO as I don't want to miss it .
Well then you are a fuking sheep who want to buy in today and be a millionaire tomorrow well it does not work that way , you can always buy after it hits the exchange . Always have a good risk management system in place where you are able to manage your risk/reward ratio according to your portfolio .
Always :- Ask tough questions to the team and you will know the reality
Best Regards ,
VerthagOG
Everyone is trying to take advantage of the momentum right now. My strategy is the same for all investments whether cryptocurrency, stocks, and startups.
First and foremost:
Team
First and foremost, I invest in people. The questions I ask are:
Traction
Traction enables me to understand someone's passion, hustle, and results over a period of time. The question I ask here is:
Idea / Concept
It's never about the idea. It's always about the execution. Hence why this ranks lower than traction. The questions I ask are:
The answers to all of these questions give me a good sense on whether or not I should invest. While it is still possible to make money from momentum investing, I recommend everyone employing due diligence and ask the same questions above prior to making an investment.
First and foremost:
- Team
- Traction
- Idea / Concept
Team
First and foremost, I invest in people. The questions I ask are:
- Are these individuals I can trust and share the same values with?
- What experience does the team have in this space?
Traction
Traction enables me to understand someone's passion, hustle, and results over a period of time. The question I ask here is:
- What traction has the team achieved over the past quarter, six months, etc?
Idea / Concept
It's never about the idea. It's always about the execution. Hence why this ranks lower than traction. The questions I ask are:
- What problem does this solve?
- Is this an idea that I'm passionate about and care offer value to?
- Is the idea / concept aligned with my values?
The answers to all of these questions give me a good sense on whether or not I should invest. While it is still possible to make money from momentum investing, I recommend everyone employing due diligence and ask the same questions above prior to making an investment.
Great analysis and after trying my hand at an ICO a couple days ago (CoinDash) I believe I learned my lesson. Should've done way more research. What ICO's do you have your eyes on?
do you know why !!! Because many experience programmers found it easy to create ICO with a nice graphic and logos using ETH or WAVE blockchain so no hard-work required to crate a project like before with owned blockchain.
Becouse people love money very much,create fake ico is most safe way to be rich fast,people are buying any hype,non regulated market,no watchdogs no scrutinity,make nice ico get 20mln$ and go away,nice i think
1 of 100, 10 of 1000... Don't stop believing 
Because at first we can see that it is really paying at look belivable as it is but it is not. And when the distribution of alk bounties is on going. They will find every reason dor them not to send their bounty. But I think karma will return on them also.
Yeah , totally true , All.of us we need to see over the scene that is happening behind the ICOs . Usually we invest our money in the ico tocken with the news and promotions of the particular coins but when we get lost our money then we trying to see what was the reason .So before invest in ico , we should consider following points in mind and also need to analyse them .
(1) Economical background & support .
(2) Technology behind the coin algorithm and stability expectations .
(3) Technical support , how much impactful and also look of the official site that how much is better and what we can estimate according to the look of the site of that ico .
(4) See the reason why we should buy , any particular reason that can result into bulk profit for us.
Most of the ICOs I participated are not scam and I have not scam in investing ICOs even once in my life.
I think that only depends on a certain investors, if we will make a thorough research before investing then we can avoid that
in happening to us, this kind of investment requires us to be smart all the time.
I think that only depends on a certain investors, if we will make a thorough research before investing then we can avoid that
in happening to us, this kind of investment requires us to be smart all the time.
The opportunity to get a 1000% profit exceeds all risks.
Because at first we can see that it is really paying at look belivable as it is but it is not. And when the distribution of alk bounties is on going. They will find every reason dor them not to send their bounty. But I think karma will return on them also.
a lot of bounties during ICO - indicator of probable scam.
There's always free cheese in the mouse traps.
There's always free cheese in the mouse traps.
because it is easy money. where there is easy money there will be scammers.
Nothing is easy to earn money, except stealing. As happened in coindash. Very concerned. Investors lose a lot of money in a few hours.For learning to identify potential ICOs or not. more thoroughly.
Also most ICOs are done by newbies. Why newbies do ICOs? because they want to hide their identities and collect quick money. If they had intentions to do something, they will not use newbie to start ICO.
So all newbie started ICOs are almost guaranteeed to be crap.
So all newbie started ICOs are almost guaranteeed to be crap.
By newbies you mean accounts i assume. By your post it seems you assume this forum is the alpha and omega of crypto which is pretty insane of a statement in itself.
The reason why projects are started by newbs is a) as you said they do not want to share who they are and b) They simply did not have an account here. It is as simple as that.You really think everyone who is joining crypto has an account here immediately ? lol
It is just a forum. It used to be "the place" but as new crowd comes in, this place serves more as a place to post some information while main discussion and information sharing takes place in other places.
Also most ICOs are done by newbies. Why newbies do ICOs? because they want to hide their identities and collect quick money. If they had intentions to do something, they will not use newbie to start ICO.
So all newbie started ICOs are almost guaranteeed to be crap.
So all newbie started ICOs are almost guaranteeed to be crap.
I am trying to uncover a ScamCoin ICO on this thread after they blocked me on their FB page, but don't see anybody else on any site questioning it. It is like no matter what you do, these ICO scammers have it their way
https://bitcointalk.org/index.php?topic=2014062.120
https://bitcointalk.org/index.php?topic=2014062.120
I'm annoyed of seeing the same advisors in different project when they didnt even succed in the first one. I dont know how much they get to put their face there.
Great post, definitely agreed. Most ICOs are crapshoot.
The scam ICO coins left the good ICO coins in the mud.
Do you know that most of the ICO's are scam .
Well if you don't here are some reasons behind it :-
1.) Most of these ICO's have no business model
2.) Most of these ICO's would never be profitable
3.) High Market cap for a project / ICO with no development , code or any past experiences
4.) Most of them have a 1 year roadmap which means no vision
5.) 5 months of hard work and for that they get Millions in funding
6.) Dumb people running the shitshow
7.) Behind the scenes it is all about Money
What makes an ICO legit ?
1.) Working product
2.) Practical Use case
3.) Legit Team
4.) Limited Funding ( Based upon Fair Market valuation )
Why are these days ICO raising so much money ?
Answer :- People are dumb and greedy they want to invest in the next ETH , STRATIS , WINGS , EDG , IOTA , XEL but they do not understand that Stratis had less than 1000 contributors and most of these ICO's happened during bear season when most of the people were not active in the scene .
Should I invest in ICO's ?
Yes , some ICO's are legit and can be good investments such as MobileGo , Edgeless , Civic etc which can yield you good ROI in long term but then always due diligence is important .
Should I invest in ICO's with high marketcap ?
No , High marketcap means a lot of people have invested in an ICO seeking for quick buck or the ICO team has been dependent on marketing to get more investors which makes a lot of weak hands so when the marketcap is not able to sustain the demand and supply the price will likely go down . When the price goes down is the time to invest but not during the ICO .
I fomo like a noob during ICO as I don't want to miss it .
Well then you are a fuking sheep who want to buy in today and be a millionaire tomorrow well it does not work that way , you can always buy after it hits the exchange . Always have a good risk management system in place where you are able to manage your risk/reward ratio according to your portfolio .
Always :- Ask tough questions to the team and you will know the reality
Best Regards ,
VerthagOG
Well if you don't here are some reasons behind it :-
1.) Most of these ICO's have no business model
2.) Most of these ICO's would never be profitable
3.) High Market cap for a project / ICO with no development , code or any past experiences
4.) Most of them have a 1 year roadmap which means no vision
5.) 5 months of hard work and for that they get Millions in funding
6.) Dumb people running the shitshow
7.) Behind the scenes it is all about Money
What makes an ICO legit ?
1.) Working product
2.) Practical Use case
3.) Legit Team
4.) Limited Funding ( Based upon Fair Market valuation )
Why are these days ICO raising so much money ?
Answer :- People are dumb and greedy they want to invest in the next ETH , STRATIS , WINGS , EDG , IOTA , XEL but they do not understand that Stratis had less than 1000 contributors and most of these ICO's happened during bear season when most of the people were not active in the scene .
Should I invest in ICO's ?
Yes , some ICO's are legit and can be good investments such as MobileGo , Edgeless , Civic etc which can yield you good ROI in long term but then always due diligence is important .
Should I invest in ICO's with high marketcap ?
No , High marketcap means a lot of people have invested in an ICO seeking for quick buck or the ICO team has been dependent on marketing to get more investors which makes a lot of weak hands so when the marketcap is not able to sustain the demand and supply the price will likely go down . When the price goes down is the time to invest but not during the ICO .
I fomo like a noob during ICO as I don't want to miss it .
Well then you are a fuking sheep who want to buy in today and be a millionaire tomorrow well it does not work that way , you can always buy after it hits the exchange . Always have a good risk management system in place where you are able to manage your risk/reward ratio according to your portfolio .
Always :- Ask tough questions to the team and you will know the reality
Best Regards ,
VerthagOG
While i agree with you that many of these projects are shady and some of them even straight up scams, i feel crypto in general has been playing the labeling game for far too long.
As per your points.
1.) Most of these ICO's have no business model - So ? They describe what their plan is (be it via whitepaper or other documentation - some even have partial or working products). Giving a shot at something experimental or sometimes even outright stupid does not mean that the project is a scam. They let you know what amount they want and what they plan to do. If people wish to support that idea they are free to do so.
2.) Most of these ICO's would never be profitable - They do not have to be. People seem to be under assumptions that only profitable projects may exist, that however is not the case. Many good projects run at net negative, that does not mean they are a scam however.
3.) High Market cap for a project / ICO with no development , code or any past experiences - Depending on the ICO, if they promise development (high or low marketcap has no difference here) and they do not deliver then it is a scam. Lack of past experience does not mean it is a scam, maybe they are starting fresh and want to get into the crypto sphere. For it to be a scam, they would need to actually scam.
4.) Most of them have a 1 year roadmap which means no vision
- Vision and direction can be shaped over the course of the year. This does not automatically mean it is a scam.5.) 5 months of hard work and for that they get Millions in funding - This does not mean it is a scam, it is THEIR choice how much they want for their projects funding. They set their own goals, be them what they may, and if people think those goals are justified they will give them the funds.
6.) Dumb people running the shitshow - stupidity and ignorance does not make anything a scam.
7.) Behind the scenes it is all about Money - Tell me me one business that is not after money.
While i agree that there is a lot of money grabbing and outright scamming going on, i think it is time to stop labeling everything as a scam. Its been a plague that has been infesting the whole crypto sphere for way too long and people need to grow the fuck up if we ever want to be taken seriously.
I agree with you . Here I am comparing ICO's with Startups .
ICO's are 5 months work and Startups are built over years based on hard work .
Most of these ICO's will run on the money they have raised which will make them burn out of funds one day or the other .
Behind the scenes as I understand it is all about money and exit .
I absolutely do not share your opinion. In fact most of the recent ICOs, if not all of them, have been profitable for the investors, and I do not even talk about those you got bonuses.
ROI does not prove that the coin is legit LOL
Do you know that most of the ICO's are scam .
Well if you don't here are some reasons behind it :-
1.) Most of these ICO's have no business model
2.) Most of these ICO's would never be profitable
3.) High Market cap for a project / ICO with no development , code or any past experiences
4.) Most of them have a 1 year roadmap which means no vision
5.) 5 months of hard work and for that they get Millions in funding
6.) Dumb people running the shitshow
7.) Behind the scenes it is all about Money
What makes an ICO legit ?
1.) Working product
2.) Practical Use case
3.) Legit Team
4.) Limited Funding ( Based upon Fair Market valuation )
Why are these days ICO raising so much money ?
Answer :- People are dumb and greedy they want to invest in the next ETH , STRATIS , WINGS , EDG , IOTA , XEL but they do not understand that Stratis had less than 1000 contributors and most of these ICO's happened during bear season when most of the people were not active in the scene .
Should I invest in ICO's ?
Yes , some ICO's are legit and can be good investments such as MobileGo , Edgeless , Civic etc which can yield you good ROI in long term but then always due diligence is important .
Should I invest in ICO's with high marketcap ?
No , High marketcap means a lot of people have invested in an ICO seeking for quick buck or the ICO team has been dependent on marketing to get more investors which makes a lot of weak hands so when the marketcap is not able to sustain the demand and supply the price will likely go down . When the price goes down is the time to invest but not during the ICO .
I fomo like a noob during ICO as I don't want to miss it .
Well then you are a fuking sheep who want to buy in today and be a millionaire tomorrow well it does not work that way , you can always buy after it hits the exchange . Always have a good risk management system in place where you are able to manage your risk/reward ratio according to your portfolio .
Always :- Ask tough questions to the team and you will know the reality
Best Regards ,
VerthagOG
Well if you don't here are some reasons behind it :-
1.) Most of these ICO's have no business model
2.) Most of these ICO's would never be profitable
3.) High Market cap for a project / ICO with no development , code or any past experiences
4.) Most of them have a 1 year roadmap which means no vision
5.) 5 months of hard work and for that they get Millions in funding
6.) Dumb people running the shitshow
7.) Behind the scenes it is all about Money
What makes an ICO legit ?
1.) Working product
2.) Practical Use case
3.) Legit Team
4.) Limited Funding ( Based upon Fair Market valuation )
Why are these days ICO raising so much money ?
Answer :- People are dumb and greedy they want to invest in the next ETH , STRATIS , WINGS , EDG , IOTA , XEL but they do not understand that Stratis had less than 1000 contributors and most of these ICO's happened during bear season when most of the people were not active in the scene .
Should I invest in ICO's ?
Yes , some ICO's are legit and can be good investments such as MobileGo , Edgeless , Civic etc which can yield you good ROI in long term but then always due diligence is important .
Should I invest in ICO's with high marketcap ?
No , High marketcap means a lot of people have invested in an ICO seeking for quick buck or the ICO team has been dependent on marketing to get more investors which makes a lot of weak hands so when the marketcap is not able to sustain the demand and supply the price will likely go down . When the price goes down is the time to invest but not during the ICO .
I fomo like a noob during ICO as I don't want to miss it .
Well then you are a fuking sheep who want to buy in today and be a millionaire tomorrow well it does not work that way , you can always buy after it hits the exchange . Always have a good risk management system in place where you are able to manage your risk/reward ratio according to your portfolio .
Always :- Ask tough questions to the team and you will know the reality
Best Regards ,
VerthagOG
While i agree with you that many of these projects are shady and some of them even straight up scams, i feel crypto in general has been playing the labeling game for far too long.
As per your points.
1.) Most of these ICO's have no business model - So ? They describe what their plan is (be it via whitepaper or other documentation - some even have partial or working products). Giving a shot at something experimental or sometimes even outright stupid does not mean that the project is a scam. They let you know what amount they want and what they plan to do. If people wish to support that idea they are free to do so.
2.) Most of these ICO's would never be profitable - They do not have to be. People seem to be under assumptions that only profitable projects may exist, that however is not the case. Many good projects run at net negative, that does not mean they are a scam however.
3.) High Market cap for a project / ICO with no development , code or any past experiences - Depending on the ICO, if they promise development (high or low marketcap has no difference here) and they do not deliver then it is a scam. Lack of past experience does not mean it is a scam, maybe they are starting fresh and want to get into the crypto sphere. For it to be a scam, they would need to actually scam.
4.) Most of them have a 1 year roadmap which means no vision
- Vision and direction can be shaped over the course of the year. This does not automatically mean it is a scam.5.) 5 months of hard work and for that they get Millions in funding - This does not mean it is a scam, it is THEIR choice how much they want for their projects funding. They set their own goals, be them what they may, and if people think those goals are justified they will give them the funds.
6.) Dumb people running the shitshow - stupidity and ignorance does not make anything a scam.
7.) Behind the scenes it is all about Money - Tell me me one business that is not after money.
While i agree that there is a lot of money grabbing and outright scamming going on, i think it is time to stop labeling everything as a scam. Its been a plague that has been infesting the whole crypto sphere for way too long and people need to grow the fuck up if we ever want to be taken seriously.
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