Bitcoin Forum

How do you see ICO's from a moral perspective? Do you believe that it is okay to ask for money from people, who (most of the time) essentially does not know what they are signing up for. I know there is different kind of founders (those who really live for it and those who goes to hawaii after an ICO), but there are moral aspects of both situations.

the one who run an ICO not fool around and ask people money, they got some project to do and need people to invest in it. and the one who "invest" at that ICO must be know that have some risk. You cant say ppl invest that they dont know what they do, they know. but yeah thats my opinion

Running and founding ICO project is not an easy task,your moral, life  and reputation is contingents of this project.The succes of ICO is depends the support of all team and the investor,they helping each other to promote the products of the project,that's why even the team didn't know for each other and come from different countries,trusting and  belief  to each other  is the key to succes the ICO project,thats why people funded it,because they trust the moral of the founders and the team.

Unfortunately, many of those people investin their money in icos don't know what they're paying for. They randomly put their money in it just with the dream of getting rich. This is the bad aspect of the fact.

Some project owners can also exploit their money.

If you have a great idea and are serious about making it work, there’s nothing wrong with asking people for money to fund your project. That’s how the economy expands. See how many companies are listed on the stock market right? Same thing. Also, investors aren’t donating for the goodness of their heart. They expect to get something in return. Asking investors for money is like asking a bank to lend you money. Unless you think banks are immoral, then seeking investors is not immoral either.

Majority of the investors participating in the ico are quite aware of what they are doing since they couldn't have amassed that funds if they were idiots in the first place. That being said, the minority--who just went in because of the hype--probably deserve to be scammed every once in a while to learn their lesson. This does not mean though that ico's are immoral. The investors and the devs receive equal benefits; I see no problem there.

Personally I think it is fine, instead of asking VC's to invest they are asking people in the crypto scene.

Remember, I imagine 99% of the people who invest into ICO's are looking for profit.

If you don't read up and do your DD then it can be a risk, but if you're contributing a small amount of money, who knows...sit back and wait and it may be the next big thing. There are some great minds behind some of these ICO's and a number of them are gonna change the way the world works!

Ico is built with the system while the moral is woke up with behavior or deeds.Surely you also already understand the meaning of ico.
Very many developers are using this method to raise funds in order to develop their projects. Funds collected in numbers are fantastic, can reach millions of US dollars.

This isn’t the field where we can speak about morality honestly. Cryptocurrency is a business first of all. The central thing and idea here is practicability. What’s profit you get. This is competition, rivalry of interests!

I do not see that people who organize fake ICOs for scamming people have any moral principles. If honestly, they must be imprisoned. I hope a law about ICO soon will appear and regulate their organization.

I think it truly depends on the ICO. Some of them have high quality work and projects backing them while others are full of hot air promises. Just do your research prior to supporting any new projects.

I think it is absolutely okay because you don't force them to do that. They do it because they want to increase their invesments, so...

Good to point it out, but in most of the time, they think that managing an ICO can be a step closer to being a millionaire, specially to those who live for it. You are investing your talent and time, even your money to manage a fund (that comes from other person's investments) to make your project successful. But along that series of steps, one cannot guarantee that both the manager, stuffs and even investor will benefit from that project. The manager will try to do his best to protect his trust rating and increase more trust from the crowd to earn more money (the more investors the better). On the other hand, the investor will protect his money by studying first the ICO before investing or issuing money to that ICO and making sure that his/her money is being used in the right way and is earning. In defense of the ICO, he/she is not forcing others to invest, just asking those who can and willing to invest. If an investor does not know what he/she is investing too, then i can only say that he/she should change and try to know what he/she is investing to. If he/she got scammed, the only one to blame is him/herself.

I think most of the ico teams are unethical because it's simple and ico team development projects do not need that much money, so basically it's all illegal financing.

In fact, a person is a moral being to a certain extent. Even the most moral person under certain circumstances can become immoral. Therefore, you should not flatter yourself at the expense of people. And you? Without sins?

My view of this things are that there 2 type of people
1. People who can do business
2. People who can fund them.
In this situation I would invest in people who can do business and earn money for me, and this is applicable to the ICO. But of course there are many people as you said go to Hawaii after crowd-sale these are swindlers and they exist but we need to learn distinguish them

What does it matter if he has sins or not? That just deters from the discussion.