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Title: what prevents icos to reinvest the money they receive in their own ico again? Post by: cryptur on August 10, 2017, 07:02:06 AM Hi
the noob question I have is Take a ETH token sale. Couldn't someone doing a ICO take the ETH he receives and reinvest it in his own ICO This way he could create a lot of tokens with the same coin over and over again till the transaction costs ate the whole coin? Is this possible? Thanks c Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: cryptur on August 10, 2017, 01:49:52 PM 70 reads no answer? is it a complicated question?
I mean the answer must be -no anything else would be nuts ?c Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: Stripple on August 10, 2017, 02:31:41 PM Well it is an interesting question yeah. But then you would first have to move it from the ICO wallet to another wallet (as you can't send ETH to yourself right?) and then send it to the ICO address again. Think people would notice as you can trace those transactions - once someone finds out you for sure are marked as a fraud and your whole company will collapse.
In theory though, you could then buy coins from yourself but to what end? You will just get more and more coins but you will probably be reaching your cap although there's no real money coming in - only coins going out which will turn out useless in the end as you have no capital to spend on the development of your project. So you have a ton of coins but they represent no value. Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: dranster on August 10, 2017, 02:35:07 PM nothing,
EOS has been doing that CVC might as well nothing stops the ICO scammers from buying back their own tokens Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: yonghongtang on August 10, 2017, 02:51:41 PM Hi You can't control this , this is crypto world .Why you want to control this ,you can't control this even in real world's companies.the noob question I have is Take a ETH token sale. Couldn't someone doing a ICO take the ETH he receives and reinvest it in his own ICO This way he could create a lot of tokens with the same coin over and over again till the transaction costs ate the whole coin? Is this possible? Thanks c Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: bamboylee on August 10, 2017, 04:08:39 PM The purpose of ICO is to fund your project. If you roll it back, then you are not gaining anything but losing the value of your token. No one will stop you because it is just insane to do it.
Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: anylic on August 10, 2017, 04:28:46 PM I can't imagine someone doing the same, and why would they do that, and what benefit would they get from it? If they can then they will not do the same to lose money without any benefit at all
Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: cryptur on August 10, 2017, 05:37:54 PM wow,
thanks everyone! now it is pretty clear to me how the market manipulation with the ico´s work it never was easier to fake demand then I will be more careful what I buy from now on. thanks! c Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: cryptur on August 10, 2017, 06:02:42 PM is there a tag or codename for the progress?
like #loopinvestment ? I couldn't find much on google about the topic but might just be searching wrong. Thanks c Title: Re: what prevents icos to reinvest the money they receive in their own ico again? Post by: Stripple on August 10, 2017, 06:10:32 PM You mean the progress of an ICO? That should just be visible on the website of the ICO itself or by looking at the transactions towards the ICO address. If you mean the buying of own coins and if there's a word for it, I don't think so.
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