Bitcoin Forum

I dont understand why there are 10's of coins getting created everyday and so many freaking icos with just a whitepaper, anon team, fake ids, and that which doesnt require any tokens at all. In my view, most are just honeypots of your BTCs and will scam you out. Be careful pls

You still have 0.01% of chance to find a good one, and even if it is a scam still can be pumped and dumped.

Better than play lottery for example

I would really go to that spot compared on joining on lotteries and as you said you do have still chance to hit the right project and would really possibly give you decent profits later on thats why we should really be aware and be careful on jumping into ICO and do plan to put money on it because we wont really know if it would be a success or a failure. This is always the risk and most people do really know about that and this thing really makes me think that almost everyday theres a new ICO unlike on the past which we do only have a few.

will having trouble about it hahaha... not all ICOs is a scam bro... they are making tons of coins every month so that the market have alternative and choices in investment ... in other side ICOs are different in other ICOs in-terms of profitability and service they offer for the future...

Think about them as penny stocks = your 0.01%. Some of these got the ideas, great ideas just lacking the final product. It's a gamble that most are us are willing to take.

Initial coin offerings were not like this even on february 2017. Scammers seeing this sale structure as an opportunity started to conduct lots of ICO to exploit people having cryptocurrencies. Well, you also say "altcoins" on the topic, but never mixed promising altcoins with other ICO tokens.

Some takes chances so even if they know it will be a scam coin they will still buy and invest because at least they could say to themselves they tried to make profit out of that coin and sometimes right after the ICO the coins would pump and most of the traders will then sell those coins.

Not all ICOs are scams but I do agree a good % of ICOs would not get so much as an appointment with a VC let alone any funding. More transparency is needed for this market to be sustainable. We will always have penny stock ICOs and your high end quality ICOs, having real time non bias info on which are worth investing in is the key.

It is easy. If it looks, smells, and seems to good to be true - it probably is! Do your research. And then do more. There are some reallllyyy good projects out there. There are even more scammers though. Do not risk more than you are willing to lose (basic investing advice) and if you do decided to do a large position in an upcoming project, make sure you know where your targets are! I got pretty lucky with my ETH investment last year.. I do not expect to get that lucky again!

I'd say it's really overwhelming to say that 99.9% of ICOs are scams. I would say more like 75%. The remaining 25% are actually good coins with a future. That being said, that future completely depens on the coin's functionality, and most of those 25% will give you great returns.

or you could join a free airdrop coin like deeponion. it's free so nothing to lose. click my sig to find out more about it

Because some people still made money out of them. Even though it will go to scam at one point, there is a point where you can buy and sell and still make money out of it. Though this window is sometimes very small before the devs dump on you. It costs very little that you will not mind if it fails but very happy if it succeeds.

I think OP is exaggerating.
If 99.9% of ICO/altcoins were scams then no one would ever buy them.
I think it is more like 80% are scams and 20% are legit.

That's absolutely an exaggeration. I think 75% of them might be scam but 25% are legit. There are some good altcoins not from trading perspective only but also because of the concept and the idea they have behind them.

I would say its like this with the ICOs.

10% True Scam = ICO had no intention to build anything just raise a pot of money.

60% Bad execution = team does not know what they are doing or just cant execute and gives up.

and

30% Solid investments = team has proven execution ability and project has real value, we see results right away and the team stays in communication during the entire ICO and especially after they got funding.

99.9% are NOT scams but the result of investing in a bad one is the same = you lost your money.

because at some point it became easy to start a new "thing" and make money out of it. that thing used to be a good cryptocurrency with some innovation (like the old altcoins) but when newbies who don't even know how to clone a project and what to change start creating "things" we are left with this market filled with crap!

And why do you think it is still working and billions of dollars are being raised under each project? There is a thing called as faith and that is what makes this system work. Altcoins and ICOs are big streamline projects which are invested with money and people are getting profits out of it. The presale and big advertising is done for some reason. There are hundreds of ICOs on this forum and almost everyone has paid for their promotions and also gotten tokens sold for best prices. I don't see any scam there or neither I have been victim if anything like that. It's safe.

Scams or not, there's a lot of money to be made in them. Alts are the best thing that has ever happened to me. Nowhere else could I ever make the returns I've made in alts

It doesn't matter if they are scam or not you can still make money from them and  you don't need to wait years, take your profit if you think it is scam.

Why you have such a great percentage? For example not so long ago wo great projects have been released such as Bitquence and Insurex( deffinetly not the SCAMS). You just need to look for gold and not for mud ;D

i dont think it is right to call them scam... like other ICOs they have target to reach or investor to buy there coin when that target are not met or even the average of it... participant will not receive there payment... thats why they do bounty and lots of advertisement in other web. as i know they allotted around 20% to 30% of it to the participant ( well correct me if im wrong, im not that expert) in that way dev and founder invest on there project ... and many dev really trying the best to promote their project ... 

You can buy altcoins that is now functional - etherim, wings, ripple, waves, nxt and others.

Anyway from 10 ICOS maybe half is good enough to hype your money x3-5, and 1-2 ICOS to invest you money and doing x10!

Unfortunately at some point that thing called greed kicks in. When it does people see $$$$$ everywhere instead of doing proper due diligence. Thats human nature. Some people are going to learn a very hard lesson when these ICOs come crashing down. People need to learn to take a step back.

Cause you are a greedy ass adventurer who can't see the obvious signs.

i think it was not a year ago that every new altcoin that was created had a pre-mine. they even premined majority of the total supply at some point! it was a terrible scene, everyone got dumped on as soon as they bought the coin because the developer was the only person holding all the coins! and he was only looking to dump.

now if you tell someone a coin has a premine they run the other way. of course in the middle of all this there are coins like Byteball that is distributing coins in a fair fashion and they are successful because it is real.

same is true these days about ICOs

I never believe all ICO projects are scam. There are some but not as big as this 99.9% scale. I did participate in some and you know what, I realized it's worth investing. The ICO isn't a perfect world. It's a risky world like any investment programs. The biggest edge of ICO is the use of cryptocurrency, which is a new idea we need to embrace. Cryptocurrency, particularly bitcoin and ethereum, is an interesting hot item to explore. These virtual currencies are well-protected by a blockchain technology, which means all our investments will remain safe round the clock. It's just a matter of having the confidence to continue the risk or be swallowed by doubt and paranoia.