Bitcoin Forum

What do you think of the new ICO 2.0 concept suggested by Vitalik?
https://coincodex.com/article/1329/vitalik-buterin-suggest-improvements-to-ico-model/

ICO funds will be frozen and released at intervals, the users will vote if the funds should be released based on performance.

The first ICO to implement this will be The Abyss (https://www.theabyss.com/invite/4rbh5s).

Sounds great. I hope step by step crypto world turn to some order. It's not about centralization but we will be more protected from scammers.

The voting system and releasing funds step by step is a great idea. No project need all the money in the beginning. And they define the amounts and time, so it's completely doable and way more secure for the investors.

It will be very useful options I think. It's a step to insurance your funds. As I can see it will be released as smart contracts?
Like an escrow but based on a user polling?

daico is a very important innovation, necessary for the rise of the crypto world

This is really a great concept after all the Catastrophe some people have already caused due to scams and the amount they hae scammed! Cryptocurrency world allows people to have control over their own money but these scammers steal our money by showing us fake dreams to grow our money.
You can read here - https://bitzamp.com/australias-financial-regulator-issues-warning-to-cryptocurency-investors/   how only in Australia the amount of scam has increased related to crypto last year.
ICO 2.0 really might change things.

I think that this is a good idea, and I will follow the news about the passing ICO. Still there will be only a problem with companies that have just bad projects, but they still launch them. These are not scammers, just people who overestimate their strength.

The concept is interesting. Will it find use?
I do not think that many will agree with this system. But protect from scammers!

Of course the idea is very good, now there are so many scammers who would not pay people for their work and eventually throw their investors.It would be great, remove all this trash

Vitalik is really a brilliant mind! Amazing idea, hopefully more ICOs will join this concept and if the ICO refuses that, it could be possible red flags pointing out that investors should avoid such projects.

He is not first who is talking about it. But may be Vitalik's opinion turn this process to right way at least.

It is really a good idea, for investors like us since if we participated at pre ico with good bonuses, if that project dont seems to progress very well we can surely refund the investment. I really hope that upcomming ICO will follow this kind of ICO 2.0

This is a very good system, which will greatly reduce the occurrence of shit token, but if someone have mastered most of the token, does that mean can restrict team funds flow, so can threaten team? ???

I kind of like and don't like it.

I like it because this will increase security of funds.

I don't like it because about voting, this will require a constant project following from ALL participants. Which is close to impossible. I prefer to invest and check the project in few months how's doing. Not to waste my time on every step.

This is a good idea. Now, companies will be force to fulfill their end of the deal. I hope this new ICO will also lessen scam ICO's.



If you are an investor, I think it pays that you regularly check the progress of the project. That will ensure that you will not lose your money or it is well spent.

I like the idea, hope the execution is just as good.

There are too many scammy ICOs that we could do without nowadays.

Excellent news. I've been waiting for something like this for a long time. We need to develop this topic further and then we will wait for a new round of honest ICO

I just wished of finding a way to prevent scam ICOs and suddenly found this post. What a coincidence. The concept looks really cool. Hope it is implemented well too.

That's great news! I hope that these measures will reduce the number of scams and make the process of investing in ico more civilized.

We could prevent these scam ICOs and bounty campaigns,also corrupted bounty managers wont have any chance to take advantage the privilege that they have,no bounty hunter will get pennies from any campaigns anymore.This is a game changer because we will see which of these ICOs are intended just to raise funds because  most of the scam ICOs wouldnt use this system.

I believe that the new concept of ico 2.0 will make the investment process more convenient and most likely we will have an boom of ico (as last year)

The idea is excellent, the most important thing is to do so to run a fraudulent or ICO with a weak team was not profitable. In this case, investor confidence in this type of investment will increase, more money will come to the crypt.

Vitalik, our god and saviour with his new idea to help ETH holder not losing their asset over ICO scam.
This shows how ETH is the leading in term of smart contract coin out of the market.

I have current investments in over 50 ICO's, chosen by the same criteria.

Yes, some of them will fail, but most will return more than enough to cover the fallen one /or even the scams/. I prefer to invest and collect /check the results/ in few months, while in mean time I'm making another investments and so on.

With my average 0.8ETH investment per ICO, checking it or not, I'm not making any difference. I prefer to use my time on other stuff than constantly checking 50+ projects and voting on daily basis. 2017 proved me that this is working more than fine with XXXX% ROI.

The idea is good. This will give more security to investors. The developers will need to make sure they have to deliver their promise. I just hope other projects who will do ICO's will follow this concept too.

First time I read of this, this is very good for the trustworthiness of a project, we will now look how it's advantages and disadvantages by looking and following how the Abyss run this kind of features, and if it proves successful many will follow this kind of feature.

Of course I like the idea of DAICO, but the project doesn't look great IMO. Game platform with referral system based on blockchain? Are you serious? I can't believe they would be succeed.

This autumn is a good idea. ICO 2.0 seems to be able to solve problems with fraud in this area of ​​investment. Freezing the funds collected as a result of the ICO and partially thawing them in stages to implement the project idea is very good control, which can rule out massive frauds among ICO campaigns.

Finally, something that could really help prevent any form of scam ICO but however, there's still a little risk behind it. What if the devs trying to be as legit as they can until the funds released and then turning out to be a scammer? Guess it'll be really difficult but there's still a chance, atleast minimalizing the risk.
I also read that the funds could be reversible that means more safer way to invest into a project. But too vulnerable against fudster.

It's good news but I think there will be some legal limitations this year

Well, why not? I think that Vitalik is a very smart guy who can make great prospects for the ICO world, because investors are already tired of investing in the scum, probably it also worries him.