Bitcoin Forum

If there is ico who does not pay what will you do?

Too many ico
There are a lot of cheats in it
Prudent investment :o :o :o

Fortunately, I am yet to be stung by ICO's not paying out after investment, but I can understand the frustration, as I have been scammed in other ways (producing designs and not being paid).

Unfortunately, there is not really much that can be done, or at least that is my understanding, you just have to be as careful as possible and do as much due diligence as possible before investing in any ICO.

I know this might not help much, but we have all been burnt before and hopefully, it doesn't happen again.

Thanks,

-Untold

More ICOs today are lying and nothing but scam. They're jist trying to get attention and open for investors but the case is when they fail, they're suddenly gone like bubbles.
Because Bitcoin, Ethereum and other crypto currency Cores are open-source and can be get from github and develop on anything you want and launch it as if legit promising ICO that compete existing coins today but the issue is they have no actual backbone team for development, support and marketing.

Yeah no more ICO's for me..

If you want a buying tip right now I think PIVX is about to take off!  Have a look at https://www.pivx.org (https://www.pivx.org) for more info.

Super fast confirming 100% Proof of Stake with Masternodes, self funding and voting governance.  100% private currency.  

It's pretty cool, check it out before the price goes up, they have a big public splash planned now that the wallet is back on Bittrex and Zero Coin is here.  ;D

it means a scam, and that is a risk for bounty hunter. well, there are many things like that, in fact, there are some ico who distribute the coins to bounty hunter not match the amount distributed. but, that's all a risk to me.

nothing, you cant do about it. all you gotta do is report them and open a scam accussation thread so that dt members can tag them with red paint. thats why i suggest , do your own research about that ico if you want to join them or before joining them in order to save yourself from a possible scam attempt because these days there were more reports of ico that is turning in to scam and they wont likely pay for your hard work.

You really can't do anything tho. Once you know that your ICO that you have invested in is a scam, its already too late. The money that you invested is lost forever. If you don't want to get scam you need to be as careful as possible because there's now alot of scam ICO lurking in the internet.

If ICO lie to you then say goodbye to the effort that you have help in their crowdfunding Campaign and don't expect to get anything from them, well there are possibility that an ICO will not give you anything and I think if that ICO's project doesn't succeed and their money cap doesn't reach the level of raise they need that will be the time that an ICO will not pay you with the promise amount, or if they did reach the market cap they are raising and not payed with the right amount needed I think a scam accusation is needed to be filed

There is nothing we can do if ico we follow a scam. It's our own fault, because we are not alert and our analysis is not right. All investments have risks, so we must be smart to choose between good projects and scam.

There is risk in every business and ICOs is not left in this situation. If one ICOs fail ,there are many that are trusted out there only you have to study these ICOs before you invest.

first,find infomation about team, and give red trust in bitcointalk, and then collect data about the team deception information, it will be a good commodity in next time .

Of course, it can happen. It's an investment so it has a risk and as higher are their rewards, higher are them

not much you can do when you've been scammed, just report and warn others after that. always good to do research before committing.

I see the projects don't pay, most of those projects are scam. I just started investing in 2 projects and both projects paid me full as they announced to investors.

What do you mean if they do not pay?

ICOs do not proomise you anything. All they promise you is a set amount of tokens that you are going to get in exchange for your investment in their project. Just like any investment in anything there is a risk and that is why you do your research before investing.

If you make it out with a loss out of an ICO, either dump the coin take the loss, or wait till a pump.

... take the loss, and  jump in the next bounty.

Than you have been scammed by the ICO. But its ok, its good losing money bcs that makes you learn.
Next time you won't get scammed that easily thats it.

There is good and bad.

I really do beleive that 99% of ICO's have good intentions.

Bad planning makes them fail - nothing else.

If there is ico scam, where can I report it? Will there be any special action?

If ICO is a lie and takes all of your investments with it as it goes, there is not much you can do, really. Since the regulations on cryptocurrencies are pretty much non-existant throughout the world (and there are countries where ICOs are banned completely), no institution can take part in the rescue of your money.

What you can do to avoid getting scammed is to be extremely cautious when choosing which ICO to invest in. It is usually pretty easy to spot the fake ones, since almost everything about them looks cheap and non-proffesional. This is definitely not for all occasions since some of scam ICOs actually put a lot of time and effort to make them look as legit as it can be.

Look at the team, see if you can actually find them of various social networks, check if the people behind it are real, etc.

Think if the whole project is even possible to execute. A lot of ICOs and start-ups in general today are offering products/services that don't exist now and possibly cannot exist due to technological (economical, social or other) limitations.

Be as critical as you can be. Ask questions, pay attention to how they answer and communicate, you will see how much of 'proffesionals' they are quite soon.

Believe in the project. It is your money you are going to put in, right?

Investing in ICO is actually risk. You should thoroughly enquire about the ICO team before investing in it. Just check whether the teammates are active in facebook and other social medias and are they the original owner of ICO. Also its important to check their identity. If all these things are ok then 95% it wont be a scam and you can invest in that ICO .

all ICOs are risky
you shoul think over before investing
but there are terms of smart contracts protecting investors

Nothing- you are investing at your own risk and should share your part of risk... Be cautious

what if a business is a lie? what if you go to e.g. ebay and buy something but it never arrives? do your research and look at the whole picture and then make a choice, if you do not do research then you are taking a risk!

This thread means something to me because the very first ICO I joined is Tangerine Exchange by Mandarin. The ICO started from August to September and until now their tokens (TNG) still not exist in any exchange. So, what else we would think about it? Though we wasted time for the ICO and hoping their success but we receive nothing but tokens that are absolutely useless.
Yes, some ICOs lie.

Now most of the ico are deceptive, we carefully invest it I've lost a lot.
 >:(

I think they will payment give you money if ico is really successful or if ico is failure does not pay, I don't care it.

We can't do anything this is why we should only invest in ICOs that have some trusted person in middle as escrow. If devs will not came up with what they have promised during ICO, escrow can delay release of the ICO funds to developer team.

just have a look at montha. they made good marketing and scamed investors. but the community believes in them. so u will get some money back if u will be scamed. icos are risky.

Unfortunately with this kind of open environment, anyone could be a developer without any legal consequences

I hope there will be some legal contract or something, a contract between Developer Team and Bitcointalk management to have an agreement before posting anything here, to make sure everything is in place

The thing is when they are gone, you cannot do anything even the management here. They could only remind us and provide tips for us on how to prevent such event. Base on experience and on my readings related to this topic, it mostly happened when they fail to reach their target. The point is they have the power and freedom to do so but you also have the power and freedom to determine if such event could happen thus, preventing to be lied. The key is to be observant and not be the type of person that just joined and follow rules and wait.

Well you would lose the money you sent. That's why you have to be very careful doing your research before you actually decide to invest...

no one can do anything if there is a proven ICO scam. we can only lament our own careless acts. that way we will learn more by learning from our own mistakes. we can not report them to the police because it's a very silly act.

The question is what if they will get all ethereum then escape.
They will give you token with smart contract but if their token is just a shit?

there are too many ICO's so it's possible that there is scam.

Altcoins have many scammers and fraudsters, you need to be cautious, that's why its recommended that you look into ICO's via whitepaper viewing and website browsing to make sure it's legit.

Move on and find another ICO that's legit and with hopes that you won't be scammed again. Why not make a background check of their developers first? Look do some research of their profile if they're really legit including their website and most of all, their White Paper.

That's meen that is scam, and you don't have anything to do, you should choose carefully the projects that you went participate in that's all that you can do.

if i get fooled by ico, maybe i'm still not smart to choose ico, you can report it, in fact if you are smart to choose ico, you will not be fooled. before joining ico we can see their white paper

I guess there's nothing we can do. A project called ethbooks investing around $ 10 million fled without paying the money

thank you for your suggestion is enough to help me, so the conclusion is
1. we have to choose ICO that looks is developing.
2. we should ask or see more detail about ICO that we will follow.
3. See how many people follow ico.
4. we should be able to consider it.
Is this really like that?

It's hard to tell wether an ICO lies or not. They are able to provide few papers in order to attract investors. Lately, I have been one of the members of sebeum that did not received any incentive for three weeks. I don't know if the manager was to blame or the founder of creator of the ICO himself. Very disappointing that there are ICOs like these.
In order to avoid things like this, let us be more observant. There are lot of scammers today.

If ICO deceives whether ICO is directly blacklisted? Where can I see an existing list of ICO scams? thanks your previous answers really help me

If it is already investment, It is a risk that must be borne. because when deciding to invest in the ICO you choose. should have been thoroughly and carefully considered. Therefore, it is advisable if your investment in ICO must use ready funds at risk of loss or loss. the step you should take is to continue looking for ways to get information about the ICO even if it is unlikely.

You have to understand that it does not costs much to make a tokens using smart contracts. Etherium and Waves have made it super simple for people with little technical knowledge to built tokens. So yes, there are many ICO's whose intentions are just to distribute tokens by collecting our money and not build a long term project.

There are no can be done with fail ICOs projects, it is mean the investors are losing their money due to invested into scam ICOs.
Should we must have made anticipating on condition ICOs doesn't pay or ICOs is failed,
due to it depend on the analysis fundamental of investors ICOs include the skills in management of risk in ICOs investment
It will gives us extra carefull when investment into the ICOs, it is more important before jump to ICOs.

I will be more self correcting and will certainly be a bit upset, because we help market your products very well but the results achieved is simply fraud. It is not a good thing to do, I would be much more introspection and fix my mistakes in choosing the ICO. because sometimes the problem is not a source of ICO, except ourselves. about the demo or seek justice through the forum, I think it is definitely all those who join will also do the same thing. So if there is already a which represents me better still and waiting for the continuation of the problem, when I needed then are ready to assist as fully as possible.
 

There's not much you can do, just report them for scamming you on the scam accusation board and be sure that will effect that ICO negatively.

That would be unfortunate and also upsetting. You can be more cautious as to avoid this from happening in the first place. This can be done by careful research on that particular ICO.
Investments are risky and if we fall into the trap of a scammer or a fraudster, we need to report them and shut them down before they do the same to others.
Check the Scam Accusation Board.

A lot of ICO lie and wont pay nothing it named a scam. Not to get on SCAM ICO you should do research about project and team first of all. Project must be working and promising in future, but always be risks even you follow this rules.

I have the feeling he might be a bounty hunter and then probably did not get paid for his job. I think it all depends on the sort of project which is either a scam or he did not follow the rules or something made him not getting his pay. As far as I am concerned, the best is to move on, learn from the mistake and don't make them again. However, if he is an investor, it is pretty much simple. Move on! Every investor who gets scammed is to be blame for not doing proper research cause the handwritings are always on the walls, you just have to see them.

What am I going to do? if I bounty hunter maybe I will just be silent if the investor might open the scam accusation, but it seems that it has become our risk to follow the ICO. The point is careful if you following any ICO because almost ICO is scam with sweet words. Good luck and be careful!

it is true that there are many scams. that is why you need to do a thorough research first. for many people ICOs are a way to obtain btc or eth. Any investment has a risk

Hi  :).  I propose to develop a standard (list of rules) that guarantees absolute protection of investor's funds.


BPI, Blood Pact ICO standard  (https://bitcointalk.org/index.php?topic=2345566.0)

There is nothing you can do about it. You will only blame yourself for not checking the ICO properly before being a part of it in the first place and try never to make that mistake again. It is obvious there are so many ICOs out there that would run away with investors money or end up using bounty hunters without paying them, just do your due diligence before being a part and move on if you make a mistake of joining one.

Yes, being careful and avoiding suspicious ICO is the only thing we can do to protect ourselves to any potential scams. But I am afraid all altcoin investors are capable of filtering out suspicious projects.

there is nothing you can do. the only thing is inform others to spread the news

If ico lie then expect that the funds of the investor is gone and their hard earn money will go to waste and if there is bounty campaign then hunters will not get pais for their work. This can be avoided if investor and hunters study well the company or make research with the teams involved.

i think there is not much you can do about it, only to report it and warn the others to prevent such situations in the future

They are going to get more sophisticated and the lies will be harder to spot.  It will be impossible to 100% protect yourself but there are ways you can safeguard yourself.

Make sure they have a github and review their code, etc.   If it is like a couple code snippets then run away but if the project is already well into development there is a lot better chance it will not end up vaporware.  Whether the project will succeed beyond that is a whole different issue.  

One of the things they are doing now is forking code bases and changing variable names, or writing a bunch of code that sounds nice but won't actually work.  A programmer should be able to identify these.

I would love to see an impartial group (no shills) start doing independent code reviews and ranking ICOs based on proof of development.

investing in ico projects is a risky think but sometimes worth it. Its similar to normal start ups, most of them fail. With regard to the fact, that icos arent regulated you have the scammers in addition so its more risky than "normal" start ups.
But on the other hand, here you have the opportunity to invest in the next amazon. Choose carefully, invest a small amount and hold it for years. There will be at least one golden egg (;

Honestly, anyone who is smart enough to not just invest in any ICO but do proper research hardly get burnt by ICOs. One do not need soothsayers to tell someone that scammers and plenty of them are out there on the loose. You just have to take precautionary measures and not just look at the graphic designs, the English in the white paper and so on. The team is very important and how feasible the project is.

Yes it's very difficult to find reliable Ico
But sometimes even those that are reliable
Payments are difficult, i don't know the solution.