Bitcoin Forum

So many ICO popping up , will they eventually take over for mining? Or the miners will continue to develop new coins to launch?

What are the advantages of ICO vs Mined?
I prefer to put in the work of mining, that was the whole allure and mystique of bitcoin

I agree with your observation,there are a lot of ico popping up and many more will come because it's easy way for  a dev to generate coins for his projects legit or not and many investors support,because they don't have a good mining rigs to accumulate those coins and they want to be first holders of those new coins.

 ICOs are mostly scam. Mining is waste of electricity. There are some other ways of distrubuion (Like distribution based on blockchain snapshots and others).
 So I hope ICO-madness will be ended by the end of this year.

I see so many ICOs its hard to keep up. I think ICOs may be the way to go. I may be wrong but there doesn't appear to be too many new quality coin announcements. So far my basis for whether it's a scam has been on what algorithm is used. If the new coin uses ASIC based algo ie sha256 or scrypt it's a red flag for a scam. My thought process is true decentralization is hard to achieve with those's algos due to larger coins like LTC and BTC attracting the majority of the miners. That means the new coin will attract old BTC and LTC miners looking to dominate in a small pond.

They will continue mining operations if they intend to make profits in the long run and keep the 'business' lucrative too.Did I just say eth ? Why mining matters anyway ? Copy pasting the code from github is what it has become.

To be honest,I still love the altcoin start-ups which replace the traditional mining ways.You see much of a creativity in that process.We have already seen coins providing 100 other features bitcoin doesn't and they all failed,terribly.So people should get over making new coins already,just start a better project which doesn't necessarily has to be based on bitcoins.

PoW coins rely heavily on inflation to pay for miners to secure their cryptocurrencies. Most PoW coins inflate well past our lifetimes, or in some cases for eternity. This inflation is costly. At their current respective valuations and block reward schedules, the top 5 coins are paying:

1. Bitcoin = $2,038,522 USD per day
2. Ethereum = $61,039,787 USD per day
3. Ripple = not PoW
4. Litecoin = $173,088 USD per day
5. Dash = $133,472.88 USD per day


Doing an ICO, sharedrop or switching from PoW to some variation of PoS is currently the only way to create a deflationary cryptocurrency. Why would you want to create a deflationary cryptocurrency? Inflation (whether it be from PoW block rewards, PoS staking rewards, or miscellaneous incentive schemes) creates substantial downward pressure on the free market. More supply being created results in it being necessary to have equal or more demand to sustain or grow the value of the cryptocurrency.

Deflationary crypto currencies are the future, IMO.

A deflationary cryptocurrency
+
Demand created by utility of said cryptocurrency (whether it be a service, a game, gambling, etc)
=
Massive profits for stakeholders due to the ballooning valuation of their tokens

And let's get real here. That is the reason why 98% of us are here... profits. Lately, I am insta-investing in any deflationary cryptocurrencies I find as long as I think they can create a sufficient amount of demand and have a decently fair distribution. I stay away from ICOs though, as they are too risky for my blood, but where there is large risk there can also be large rewards. I usually wait until there is at least a skeleton of a working blockchain, and after the "initial release pump" gets sufficiently dumped on.

Not all ICO get success, most of them are just scams. If all of the coins are distributed through ICO than those projects can't sustain for long time, there will be big dump after listing.

ICO are to generate some development fund to keep project running but mining is better way to distribute any coins.

I also love alts that do ninja launch (without pre-mining) rather than the ones that sell off more than 90% of total supply through ICO.

yes my fellow mate. so much ico has been popping everywhere and i wonder if they will last or just a scam.. i think this is happening because you can easily create an ico based on eth contract. that is why most devs prefered to have it under eth contract. and possibly sooner it will take over mining if this will happen massively.

I don't think it's possible to end this year.some legit coins had their successful ico this year and what makes icos relevant is the huge number of investors and holders supporting this icos,we just need to weed the true one from the false

The main advantage is that the developers get a lot of money very quickly to help them hire bigger teams and pay for promotion/press releases/advertising.
It is also advantangeous because in certain blockchains a PoS system is preferable because it actually serves a function in incentivizing behavior on the blockchain itself.  I am brainstorming a new blockchain myself where being PoS is really critical to having it function correctly, there's certain behaviors that are much easier to incentivize with a PoS coin, and it's much easier to distribute to multiple well off stakeholders with an ICO setup that will be more likely to help you build your ecosystem.

The disadvantage is that a lot of people are just throwing money at projects they do not understand at all on a technical level, hoping to get rich quick because they saw Ethereum go up 200x in value.  Most coins are not going to be Ethereum and a lot of people will end up losing their money.

this now is good response investor and succes in ico selling use token system or asset
so without mining and pow,
coin with type pow is not good dev, good promotion can not grow
only old pow coin in still good coin
you can comparation same time launch lisa coin, lizi coin, with chronobank, edgeless coin, still good ico selling with token system

Yes actually ICO and mining are investments, ICO can be called as trading altcoins in my opinions
basiccally make investments on ICO and mining are high risk
so we must manage strategy investing on hardware miners or investing on ICO, but I don't agree with ICO
will replace mining activity because without mining coins will not be made.

Nope.. ICO = SCAM

..all of them

Even Ethereum then?  Mining Ethereum was never very profitable even from the beginning. 

I would ask the question in a slightly different way.

If and when the Bitcoin killer, super-alt is launched, how do you think they will be distributed at the early stages?
I can imagine it being an ICO, but ICOs are very dodgy as most are scams.  They also overly reward the people getting onvolved in the ICO, it is basically everything that is wrong with crypto distribution.

If the new super-alt is mineable, it will have to be either a new encryption that can only be mined fairly by the masses. I don't think such a thing exists though.  Even if they do make a CPU mineable coin, Botnets will take it over. That means most of the coins will be controlled by the initial miners, which is unfair.

The Clam method of everyone with a crypto address gets given x new super-alt coins.  This seems to to have it's faults too, as people with millions of addresses get given lots of money for nothing. It has happened a few times to clams that someone digs huge amounts from faucet addresses. That also isn't fair. You could raise the amount required in the wallet to a non-dust amount, say 0.1 BTC, but then you are making the rich richer.

I don't know how it will be done, I fear at the moment that an ICO will be the way forward so that developers can get some money together to develop the coin before it is released.  It isn't a good distribution method though.

may divide the capital for the ICO and Mining is the best way, ICO is good to have a different character with a few ICO scams, it is mining, some people believe that the mine to the GPU is a way of avoiding losses by warranty GPU, is inversely proportional to the ASIC.

I don't agree that all ICOs are scam but people just repeat what others say, Ripple, ether, monero are ICOs, and all of them are gaining new adoptions, if you got scammed someday, that because your bad choice, do you think ethereum or monero investors regret their decisions now.

insta ico = the easiest way to scam they have found yet.

impossible to scam with fair release POW.

Mining is an stage apart from the ICO. Most digital currencies gets hold by the ICO launch. Only very few progress and mining of coins gets initiated. So it depends upon the developer team plan along with the funding provided for the respective project.

no and no, because mining back up the coins with the profit and reward that miners need to have, remember that mining set a value to the coin, because miners need to be payed, and their payment is the minimum profit they are making on other coins, which mean that automatically your pow coins have already a mnimum value threshold, ico are shitcoin that have no future and only pump and dump, just tell me what ico have lasted so long to be called a good coin? i see no pure ico in the top 10 of coinmarketcap, don't tell me lisk because lisk has a form of mining called forging which is at least something

I think it is more like pre-mined coins that are sold through the ICO what he is talking about. Not mining in general.
I don’t know how the coins who have too much pre-mine can get the transactions go through when/if the coins gets bigger, they don’t think it through.

I mean you can pre-mine all you want and sell them on ICO but when there is no coin left to mine there is no miners fee which would make the transactions can take a lot longer.

If a coin is only mined.. then how is the Dev team suppose to fund their progress?  Giving away free coins helps the community i fully agree. but if the coin Dev does not have the funds to create short and long term goals, then whats the point of mining them.

ICOs are a great investment in my eyes, you get in at the lowest value, you are helping that coin Dev team with their goals, then they get launched in an exchange, you watch the value increase, you sell some to regain your initial investment and then watch and support the coin community.

The people the pre mined i feel are the ones that sell the first day or two once that coin launches.. making money.  some i feel only are in it for the money. not helping in any way of the advancement of that coin.

I also agree that some ICOs are only for the Dev to make BTC.. but i feel more of them than not want to not only create the coin, but build the community and the vision for a long time. 

@Coinguys

They don't.

None of these ICO idiots have produced anything useful for one thing.
If that was true it would be reflected in adoption..
Not ICO shitcoin Poloniex market prices for greedy idiot dipshit brat moron "investors"

No idea why you guys are stuck on this concept that these losers *DESERVE* to be paid.
When crypto started it was disgusting and obscene to ask for money up front.
And plenty of coins launched with out begging for hand-out's Kickstarter style.

Problem is these dipshit millennial brat retards are full of themselves and reek of self entitlement.
Want money little fucking loser assholes ? get a job at McDonalds little shits.

If you do not possess the means then post your idea for all to use and let someone who does.
The only thing ICO scammers deserve is a punch in the fucking head.

Roll up your little ICO's and stuff them balls deep up your ass Investard pricks.

well thants your opions..

but i wonder how fast you are to line up to mine them.. and then sell them once listed..

fyi  not all ICOs are scammers... 

That's what we have brains and hearts
let me know the difference between a good and a scam ICO ;D ;D

A big fat zero.

I have integrity unlike the rest of you.
And no that is not opinion that is fact NOOB.
I would know because i was here when there was only a few coins.. you NOOB ?
My so called opinion is a history lesson for the greedy assholes here *NOW*.
You reap what you sow brats.. enjoy  ;D

..and yes for the kazillionth time.. *ALL* ICO's are scammy.
Hence they are all scammers.
They are a crooked by design distribution method.
It's HOW THEY WORK.. not fucking opinion.
It's called design and code NOOB's.

All you shitheads do is show up here greedy and lower the bar and try and justify bad.
NOTHING eeeeeeeeeeeeeeever changes.

You are all so greedy and corrupt you can't fathom that anyone at all out there has a shred of integrity.
The concept simply does not compute.. i know this because i have been accused of this before.

Then you have the fucking nerve to accuse me of shit ?
Why are you here brats ?

ICO's i ever supported (traded etc) ?

0

The world is not going to allow the replacement of mined coins with scammy ICO's.
Get real Investards.
You think the outside world wants to buy your digital centralized-exchange pyramid scheme ICO "tokens" ?

Reality Check:
They are not here are they ?
The only people here are idiot NOOBS scrounging around for whale scraps from the next shitcoin ICO.
The respectable part of the world would not touch this scammy ass ICO bullshit with a 10 foot poll.

I speak the facts.. the truth !

I read this pretty much on the cover of my news paper a year ago roughly..
It was a story on Bitcoin and how the people interviewed about it in my town in the financial industry would not show their face or give their name and admitted they don't talk to co-workers about BITCOIN ITSELF
..because it's a dirty word with a bad reputation.

THIS my stupid little reject friends is the reality.
I know because EVERY single person i ever met since 2013 said the same damn thing.
ALL OF THEM !
My friends and family to strangers on the street young & old.

SO..

Lets put this into perspective fucking mouthy idiots.

You think those same people out there want to buy your ICO shitcoins ?

LOL

I was actually thinking the exact same thing. :-\
After seeing the news that HumanIq joined up with Chronobank (they the same owners or some kind of hatched planned ahead of this?) if they fail then there will be a mighty blow to ICO crowdsales and all that nonsense in the future.

I think most people see it being done.. then assume it's ok.
They do not objectively look at the issue.

Miners invest in hardware which is a sign of good faith and dedication.
They complete a task and then are rewarded for it.

Why would shitcoin makers want to remove the step of mining a coin on launch ?
To stream line pumping garbage out for ROI's.

Is the ICO an improvement on BTC's initial distribution technically ?
Fuck no.. it's a step in reverse.

So i myself see this perspective and i can safely assume the public will see what i see.
What you all choose to see is.. dollars signs $$$
THAT ..is YOUR motivations.
Me ? I am just looking at both sides and offering a fair and unbiased opinion.
I am not tainted by greed sitting here bullshitting fer teh ROI'z.

What should matter to you all but won't.. is adoption.
And DO YOU all think the outside world is going to adopt an ICO coin like Ethereum ? Ever ?
One day the world will be clamoring to buy ETH ICO shitcoins ?
Hell no !
Money pro's out there see this as unregulated gambling type bullshit.
Like an illegal pyramid scheme stock market system for the web.

You people need to give your heads shake if you think the world is going to rush in to buy ethereum or Ripple etc.
Seriously are you all that blind and consumed with rabid contrarian greedy fanboy shady crypto defense BS ?
Pull your heads out of your ass's and see the world for what it is and not what you wish it was.

Preach to the choir more.. in vain.
Idiots preaching to the already converted idiots.
One spineless loser dipshit preaching to the already decided greedy dipshit.
You losers took over crypto.. so fine.
So be it.. you reap what you sow investards.

Posting bullshit here is not going to do anything.
All i have ever done is reflect the truth back at you guys that refuse to listen.
You think your little ICO defense speeches are going to convince the outside world they are legit ?
Go hard  ::)

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honestly i have made some money with icos.....if you actually invest consistently in all the icos with some potential, you can mae a profit easily. there are so many icos that have risen in price 20x - 100x....it covers your loss in a couple bad ones.....that being said im gonna invest in crypto wi project next, looks very promising

correct,  I agree with you..

Yes and with many ICO's out there only few remained in tact and even has a high increase rate than others. Also it's true that mining consumes electricity but there are many infrastructures that was built solely for mining. Mining is only good for developed softwares so i guess both ICO has it's pleasures. But people who has no good device yet, i think i should stick with ICO's. Both requires patience but ICO's as great chances.

I think that ico and mining are absolutely different from the beginning.
And don't be so critical about ico. There are some very good projects among scum.

l hate ico

Yes if there are not comunity of miners on the coins, that is like centralization of coin
i don't think it will many people make investments on there,
because many peoples think that is not digital coins like bitcoin and other altcoins can be mined
 the peoples will be doubt about the future of coins.

PoW makes a coin vulnerable to chips and new technologies, are unpredictable because of their dependency on unknown things coming in the future, and wastes money to electric companies.
It's on its way out.

Crypto roadmap
https://bitcointalk.org/index.php?topic=1927648.msg19134953#msg19134953

Mining is cool and provides nice proofs but ICOs bring the money in needed for projects and gets the money flowing.