Bitcoin Forum

Why do most people consider most ICOs or Altcoins as scams, even if they not. Inventors work very hard in implementing these coins, they don't deserve to be told that their hard is nothing or its not worth it. Even BTC was once less than a dollar, Look where it is now. So stop lets criticizing other or newly created projects, it's not worth it.

Well, People will always talk, but I don't think it's a good thing that they are criticising other people's hard work. If you don't like it, you shouldn't go around and badmouth it. It's not worth it

There are many reasons that could make people to call a coin project scam and this is basically have to do with their past experience in the bitcointalk forum or other related website.

There are some signs that will point to an experienced crypto currencies user that the coin been discussed is a scam or not but this only applicable to the ranks from full member and upward because some people just create a brand new account just to call a project a scam, such words should be disregarded.

That is not a good thing at all, people work very hard to see their projects succeeding, the last they need is people badmouthing and critisizing their projects

because in the past many ico turned to be a scam in two way, one because the escrow run away, and was a friend of the dev and both were scammers, and another one because the dev dumped on the market and killed the coin, or simply the dev forgets about his coin and the coin remained there for useless trading and die after that, there are many cases of this in the ANN section

Many of them consider it as scam because the developer run away or the project that the developer promised is never happening or the feature that being promised is not true, and that is causing people to losing money, ICO is in an early stage of the coin so it cant be predicted, so we always suggest them to do research so they dont become the victim of the developer, but not all ICO are scam

A lot of them get called a scam because they lack evidence to prove they're real, and there is a whole lot of coins in the past that collected money then disappeared with it.  Recently speaking, everyone is forcing the ICO creator to post a background check (Practically) and deciding from that point onwards.

Still a mystery to me... :(

On the other hand, bad news is good news isn't it? At least it brings attention.

Most people are not able to implement their ICOs and why will people not call it a scam. But i say you need to research well before putting your money somewhere.

Maybe they have an experience that some Ico they joined lately was scam. But, people should not judge easily that its a scam, they must see the hard work and determination to succeed their project.

They call some coins scam in order to test developers` reactions. :)

Most ICOs are just BTC grab attempts, they want to get your bitcoins, that's all. They could file bankruptcy and run with the money.

Nonetheless, lots of ICO's give %1000+ profits, but it's a must that the ICO is not overbought, otherwise it will be harder to grow.

Look at the Bancor ICO, it's fucking huge, it's going to get 900 millions or something, so you are looking at a coin that needs to be top 10 in marketcap to get some growth...

It is a good way to run our business. You open a project, you are doing all advertising things, invest little of money in it. Make a lotof great promises, people are joining crowdsale campaign, they start to send you tons of bitcoins, than you just close your project, without reason and any signs and you run away with money :) Simple )) Thats why a lot of ICOs could be a scam

There is no mystery in it,if you are spending your hard earned money into any project you have the rights to know everything you need to know and the development team has to answer every question ,people have lost money to ICO scams and it is really difficult to loose your hard earned money to some scammers,so is the reason everyone sees most ICO as scams.

Well, look around you, you will find 90% of altcoins are scams, pump and dump, grabbing BTC for shit. A simple look at a shitty, low exchange such as YoBit will give you a hint why most ICOs are scams, or turn to be one in the future. If you took a glimpse at how many people trying to sell their shitcoins, you will find sell orders having hundreds, if not thousands, of Bitcoins worth of shitcoins.

People on this forum have seen it all, and they've turned pretty cynical as regards altcoins.  And the fact is that there are too many.  The developers may work hard to produce their coins, but they just don't need to exist.  Think about how many are in existence and what they actually get used for.  Do you think it's to buy things?  Hell no, it isn't.  Those coins are just for gambling on the exchanges...that's it.  They serve no legitimate purpose, so that's why people on this forum tend to slam them, including myself.  I wouldn't exactly call them 'scams', but most are total garbage.

Ay fuckn bunny coin is the next bitcoin.

I was thinking about this before i came here today actually.

First thing that jumps out at me is how an ICO functions technically.
So.. allow me to rewind a little bit considering i see you have a new account here.
ICO's were never accepted here in the past.. a couple tried but they were flamed to death.
Why ?
Ideology + morality.

So what i thought *again is this..

The newer guys showing up here don't get it (like your topic proves)
Because that is just how it is now.
Enough people started making ICO's that it eventually became a standard practice.
It is *NOW* commonplace where as in the past it would be simply unheard of and taboo.

For example there is a reason Ripple and Ethereum gained no traction here for YEARS.
It's not simply because they did not get peoples attention.. it's because they were REJECTED !
Because of ideology and because of the functionality of the coin.

I have had to re-explain this pretty much every single day for many years now..
To every new batch of crypto profiteers who show up with less & less morality lowering the bar every step of the way.

The guys showing up simply don't care.. they want money and morality is an obstacle to be avoided.

Can any of you tell me that any ICO ever released improves on the initial distribution system / block-chain initial launch of Bitcoin ?
People.. the most important part of a digital currency *IS* the initial launch of it.
So you can't simply leap frog over the launch and focus the attention on the bullshit tacked onto it.

Further more..
Bering in mind what i just said..
You are here to support the adoption of a digital decentralized open source currency.
NOT....
Centralized ICO's on centralized Exchanges for profits.. that are essentially a scheme and not even a currency.

Get it now ?
Well don't worry i am sure i will be re-posting what i said 1,000's of more times over & over.  ::)

ICO = SCAM.

I think many times people simply don't understand that ICO tokens/coins aren't necessarily the next BTC, they are just a way to crowd fund some project and then have your tokens bought back by the company or whatever with the profits they make while having the token price grow at the same time. Like these guys who wanted to reopen some power plant in Russia and did an ICO for that, I can't remember who they were.

Also there's something inherently wrong according to most people here in a coin that has a large premine percentage. ICO coins are essentially 100% premine.

I hear ICO supporters say that *some* are legit.
And that is like saying some Pyramid schemes are legit.
Why ?
Because you can make money off them ?

WRONG PROFITEER INVESTARDS.

What makes a scam, a scam.. is not how much you get off it.. BUT HOW IT FUCKING WORKS !

You are not crowd funding fuck all either.. that is a facade.
I know this because none of you care nor lift a finger to support the intended goal of any given ICO.
I don't see all of crypto railing on 24/7 flooding this board with talk about how the no. 2 coin in Crypto changed the game and how everyone is all jazzed and excited about "DAPPS"

nope.. all i hear is they are making teh ROI's off teh profitz coinz on teh exchangerz.
There is no other talk here so you can't possibly even try and deny what i pointed out.
..which makes this a hollow shell of a charade.

A fake ass bullshit never ending stream of little ICO tokens used for nothing at all but trading on Poloniex for profits.
With 1 guaranteed outcome and that is not adoption.
It will dumping by all whales and little profiteer fishes.
How do i know ?
Because you all say it NON STOP and then defend this piss poor attitude / mentality.
Chanting Free Market and Greed is good.

You, dumb fucks created a fake ass little scene where you PRETEND to care about decentralized open source digital currencies while you never lift a finger to do anything about it and count your cash.. while at the same time support retarded scammy garbage like Ethereum that is not even a fucking currency then support shit like RIPPLE that is the literal antithesis of crypto ...for ROI's.

You all know better but you play dumb.
All of planet earth sees through your stupid charade too.
The only people here are Ponzi / Pyramid scheme participants.
There is virtually no digital currency supporters and adopters here in the 1 million accounts created and on the 10,000+ ANN topics.

Care to explain to me how the fuck you launch a "coin"
..that requires you to have another coin to get it ?
Then explain to me how you expect your "coin" to replace the one you need to buy to get the new one.
Get it ?

You people are really are THAT fucking dumb.

Or as i have said endlessly or playing dumb / being deceitful (for ROI's)
Or.. a combo of both.

THAT is crypto my little Investard friends.
And let me know how it works out for you.

Pro Tip:
Stupid people lose in life.

You reap what you sow.

You must have missed the real scam coin days, when one person would copy a coin, change the name, post for help on how to change a few basic parameters in the code, and release it that same day.  Or have undisclosed premines, that they would dump the day after they got the coin added to an exchange.  This is how the phrase started.  Then they came up with an excuse for premining (100% POS with no other way of distribution) and then exclusivity (ICOs), and even scam exclusivity (undisclosed Pre-ICOs).

Become scam is the risk all altcoin, as a trader, we must face it. Just like lose, high fee and hacker is also our risk. Before buy some altcoin prepare a good plan, meaning there's risk calculating. Besides that, I agree with no more critic / complain with another people who create a new altcoin. Give them chance to build their project and grow up their system. Just like that and good luck.

Because there is no platform that can develop real product for the public users. i mean about the useful product. and most of them just innovation and never get released to be real. I think that's the main reason.

I for one don't mind ICO's as a funding model.  It is what it is, and if developers put it to good use, then why not?

The problem I have with it is that most devs behind these new projects make outlandish, unicornish (yes that's my word) claims to market their ICO.  Do they have a working beta or a testnet?  No all they have is a white paper.  How can we know if what they promise will happen, and what do we do if it doesn't get there?

Yes Ethereum ICO's, you know the platform doesn't scale, yet you basically scammed these people into thinking 'x' will happen.

yeah most of them is just upgrades and just duplicating project which already been introduce they just improve some features that's a big reason why it can be a scam project since there's no exact point why investors needs to buy it or invest with it if the original one can upgrade as well and the project will continue smoothly.

Your energy would be better spent elsewhere. Of course there are scams and its all about working out which are scams and which are producing useful technology. I could easily go down path you are of self righteously attacking anything that you sense is immoral and there is some merit to that but in the end you become the only real casualty of doing so. No one cares about you, so you better start caring about yourself and give this direction up...I did and I feel a lot more peace in life.

Self righteousness is the shortcut to becoming worse than the thing you despise. imo. Have a laugh at scammers or fools that get tricked. This is the wild west of future currency investments potentially, it doesn't need an old west style Preacher.

All you see in an ICO is a sleek and smart website with a whitepaper.
ETH was a ICO and many ICOs spawned from ETH using its tokens.

Almost every project that want to raise money with ICO can be made in few weeks. But they don't want to make product and then sell it, they want to make money and then something else. I really like the idea of ICO and I do not see anything wrong with the fact that the project has collected much more than necessary, but it should be a working startup and not a list of text.

I was not being "Self righteousness"
I was talking all along about the tech behind an ICO.
I specifically pointed out yet again how the initial distribution is scammy.

To me it is about the code and nothing else.. every other aspect to it is a secondary matter.
The fact you guys are not smart enough to grasp that screams stupidity to me.

All i hear is scammers crying FUD because i threatened their ROI's income.
You are not offering an intelligent rebuttal to my technical assertions.

At no point did i claim ICO's are scammy because they hurt my feelings.
Noooope.. on the contrary i typed out in bold text it's because of HOW THEY FUNCTION BY DESIGN.

I keep pointing your horse heads at the water and all you babies do is pull away mumbling about ROI's and FUD.

And i can safely speak for planet earth here profiteers & investards..
Earth gove 0 fucks about your ICO's.
Bitcoin impressed the shit out of people.
ICO's do not.

Earth adopted Bitcoin.
Earth is not going to buy your ICO bags.

An ICO is a scammy downgrade from Bitcoin.
ALL ICO's !
The distribution model is scammy and will never be better than a mined launched coin such as BTC.
The code to an ICO and how it works is a down grade from Bitcoin etc.

I fucking dare any of you to say the ICO was an improvement over BTC's initial distribution model.
Seriously do it little greedy shitheads.
Because if you can prove that case then yeah you can then convince earth to come running here to buy your fucking gay ass shitty scammy ICO bags.

..otherwise they ain't comin' investards so wake the fuck up already.

"Self righteousness"
I think not NOOB ACCOUNT.
It's about greedy pieces of shit writing SCAM CODE.. then compiling it and sending it to POLO for ROI's.

Because they are only fancy words. Ideas.
Nothing has yet been achieved. People are buying like crazy thinking one of the tens or hundreds will hit the jackpot. Or that they will be faster at dumping than the next one, when the whales start dumping.
They are yet to deliver, but it's not that bad to invest a couple of eth, just in case.

the coin of the county are support by the military of the county
what's the Altcoin support by?
it's only an investment activity.

Recently i have participated in one signature campaign called betope.io then i started observing official thread and ICO website . Daya by day one by one scam accusation comes in thread finally iICO never happened . My one week effort gone for nothing

Initial Coin Offering (ICO) or better said - Initial Scam Offering (ISO) can make you very rich but is by definition very likely to be a scam because the developers can just dump the majority of the coins and walk away with millions.

if they earn some money from the market
maybe they will believed that is a stable investment

Because they don't have plenty of information, and the immediate reaction is that.

I support the SONM project these days, via social media and event though I am not part of the team directly. I support the SONM project because after reading the information they have available today, it sounds reliable, who know surprises happens sometimes! But so far the SONM project seems to be working hard to bring the new features alive.

Visit the SONM project here:
https://bitcointalk.org/index.php?topic=1881191.0

Most people believe ICOs are scams because the vast majority of ICOs are scams. Not only are they usually a bunch of people with no apparent experience in the crypto sphere asking for money to be thrown at them, but most of the ideas behind the projects are either utterly pointless or hopelessly unrealistic. I'd love to see proof that a reasonable percentage of ICOs are legit, but I doubt I'll get it.

Too true. Most ICOs just turns into scams. Basically, there are a few signs it will be a scam like when the coin does not even offer something new. Basically those clone coins are just scams out right. Then you have to check the developers if they are doing anything or making anymore progress, though sometimes they quit at the end or after the ico ends. All of these signs though are not always present. Sometimes it was just planned to be a scam and no one caught wind of it.

Ico can be a good plan, if you are very very very selective

i am agree and not all ICO is ended with bad coins in the market. as long as we can select a good ICO with a good solid dev and the teams, then we don't have to be worried that in the end, the ICO will be scamming the investor and run away with their money. i think there are many ICO that have got success and the coins have a good place in the market and this is why we need to read all about the project of the ICO before we make investment with them.

You guys are all participating in a new age digital variant of the classic pyramid scheme.
..a greater fools game.

Reality is no ICO ever accomplished anything.
And none will because of what i said earlier (how they work)

Your greatest ICO achievement is a scammy ass app's platform that is not used.. nor even a currency.
Called Ethereum.
Do people place the value of it so high because the fuel tokens are are such high demand for the intended purpose ?
Or..
Are the ICO scam coin simply inflated in value to epic proportions because idiots are flooding in here buying them hoping it gets pumped again ?

If you don't see what i see then i think you are broke already.
Because it tells me you are 100% oblivious to the real dangers of the charade being played out here.

LOLZ:
ETH will replace Bitcoin the Investards said lots before.
So.. buy Bitcoin then use that to BUY Ethereum coins.
See a problem with that procedure ?
Yeah i ROFL'd  :D
We're not dealing with very bright bulbs around here hahahahah

http://www.rebabowman.com/wp-content/uploads/2014/12/horse-cart.jpg

Liek OMG buy teh Ethereumz cause Putin Mcirisoft IBMS big BANZ are buying dem !!!!!1111ONE

its because other people judge it because sometimes the fault of the sig manager, in the campaign and i think they dont have an escrow  in their campaign. sometimes people asked for an escrow some campaigns dont have, and sometimes they have a small market value and they doesnt go up they continue to go down and down.

Well someone needs to tell this mush mouth foreigner you quoted Bitcoin was not an ICO.
So fuck off with the comparing BTC to ICO's crap.

It's not worth it ?
Yeah it is.. it might save someone out there from getting ripped off.. FROM YOU !

But yeah.. you heard it here guys.
It's true some ICO's are bad because of a lack of an Escrow.

Yup so if you joined a water filter scam scheme or got an email from a Nigerian prince then.. well.... it's legit as long as he used an Escrow ::)

Seriously are you all THAT stupid ?
Or just greedy / immoral ?
..or both ?

Because until the dev has delivered a working project people have paid sometimes up to tens of millions of dollars on nothing more than an idea. Many projects in the past have turned out to be scams and so it is up to the devs to show that they are the real deal, not the other way around.

Crypto brings out the worst kind of people simply because its easy to run off with someones funds once they have sent them.

There are so many ico’s, and when a market is filling, you inevitably end up with some who want to make a quick buck. Whilst there is no or little regulation, it will feel a little like the wild west. Nonetheless, there is great work being done within the blockchain arena.

Thats the risk in investing,we cant tell in an instant if it will get scam or not , it just a matter of taking the risk and pray for better results.

Spoetnik, out of curiosity, which cryptocurrencies do you support? I agree with most of what you say, but so far I've only ever seen you disparaging coins. Do you support Bitcoin? Monero? I'm genuinely curious.

I can't answer that anymore.. i am sick of it. (probably answered that hundreds of times)
It has no bearing on what i posted on this topic 3 comments earlier either.

All i see before my comment and after is noob accounts.

I told you the honest facts.. all day and all night.
If you are looking for an ulterior motive to my posts you will not find one.
I am the only honest one here not secretly pushing an agenda. ($$$)

Any alts and bitcoin will only matter on how they can be useful in an individual if they think such way then they cant ses how cryptocurrency works.