Bitcoin Forum

In recent remarks made on social media, Bram Cohen, the founder of BitTorrent held back on castigating the ICO crowdfunding model itself, suggested industry writers specifically ought to not include trust when rating an investment opportunity.

“As a journalist you shouldn’t give any ICO the benefit of the doubt that they’re a ‘good project,’” he wrote on Twitter. Cohen is of the view that all ICOs should be treated as scams until it becomes very clearly that they are really genuine.

His remarks echo those of Bobby Lee, CEO of Chinese cryptocurrency trade BTCC, who this week portrayed ICOs as being “95% database projects.”

Cohen’s remarks mirrors similar conversations within the crypto world where both Bitcoin experts and developers are increasingly voicing their criticism of Blockchain projects that are for the most part ‘open-ended’ with no decentralization mechanisms in place.

While not stating what verification mechanisms need to be in place to be able to qualify an ICO as trustworthy or not, Cohen nonetheless is using ineptitude as grounds for labeling many ventures as “scams.”

“Incompetents raising money to do things they are incapable of doing are scam artists,” he added.

Cohen’s tweet included a post from Zcash colleague Zooko, who thusly had connected to an article in the New York Times about the current troubles behind Swiss company Envion, which attracted $100 million investments from its ICO.

To some degree amusingly, Zooko himself had also recently gotten feedback over being too effectively trusting in the wake of distributing subtle elements of a discussion he held with Bitmain CEO Jihan Wu.

Wu, whom many cryptocurrency identities have blamed for lying over different parts of Bitmain and his thought processes, left a positive impact on Zooko, who composed that he “sounded true” in spite of his own questions. Responses consequently appeared to scrutinize Zooko’s position.

In the mean time, ICO provision is set to remain an intriguing issue this month as EOS’ record-breaking year-long event closes Saturday having raised over $4 billion without a working item.

Tezos, which brought $232 million up in 2017, is also set to dispatch a beta release this month.

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ARTICLES RELATED :


New article’s concerning SCAM MATYAS ZABORSZKY and these  accomplices:
- An investigation on the ICO « ADVISOR » SCAM, MATYAS ZABORSZKY on WN.com : https://u.wn.com/p/389695021/ (https://u.wn.com/p/389695021/) 
- The “Fake” ICO/Blockchain Advisor Problem: Many ICO companies was a victim of this on cashing-direct.com  : http://www.cashing-direct.com/the-fake-icoblockchain-advisor-problem-many-ico-companies-was-a-victim-of-this/  (http://www.cashing-direct.com/the-fake-icoblockchain-advisor-problem-many-ico-companies-was-a-victim-of-this/) 


Some Article on Bitcointalk.org denouncing the scam Matyas Zaborszky:
1- An investigation on the ICO « ADVISOR » SCAM, MATYAS ZABORSZKY : https://bitcointalk.org/index.php?topic=4359527.0 (https://bitcointalk.org/index.php?topic=4359527.0)
2- Help us to stop the SCAMMER Matyas Zaborszky and these accomplices! : https://bitcointalk.org/index.php?topic=4388662.0 (https://bitcointalk.org/index.php?topic=4388662.0)   
3- The well known SCAM Matyas Zaborszky continues these scams in the ICO's sector : https://bitcointalk.org/index.php?topic=4403143.0 (https://bitcointalk.org/index.php?topic=4403143.0)
4- WARNING : ICO Advisor Scam Matyas Zaborszky : https://bitcointalk.org/index.php?topic=4370425.0 (https://bitcointalk.org/index.php?topic=4370425.0) 
5- EOS Hack May Result In Millions Of Investors Getting Scammed Out Of Tokens : https://bitcointalk.org/index.php?topic=4403239.0 (https://bitcointalk.org/index.php?topic=4403239.0) 
6- SEC Obtains Emergency Order to Halt Scam ICO, ‘Blockchain Evangelist’ Charged : https://bitcointalk.org/index.php?topic=4403207.msg39176765#msg39176765 (https://bitcointalk.org/index.php?topic=4403207.msg39176765#msg39176765)  


Other links of articles on Medium.com denouncing the Scam Matyas Zaborszky and these accomplices:
1- 6 Outrageous Moments In Crypto Twitter Scam History : https://medium.com/@MatyasZaborszkyscam/6-outrageous-moments-in-crypto-twitter-scam-history-3f0e8532ab83  (https://medium.com/@MatyasZaborszkyscam/6-outrageous-moments-in-crypto-twitter-scam-history-3f0e8532ab83)
2- The “Fake” ICO/Blockchain Advisor Problem: Many ICO companies was a victim : https://medium.com/@MatyasZaborszkyscam/the-fake-ico-blockchain-advisor-problem-many-ico-companies-was-a-victim-5094b2e3161f (https://medium.com/@MatyasZaborszkyscam/the-fake-ico-blockchain-advisor-problem-many-ico-companies-was-a-victim-5094b2e3161f)
3- Wednesday, May 30, 2018, new scam of Matyas Zaborszky denounced : https://medium.com/@MatyasZaborszkyscam/wednesday-may-30-2018-new-scam-of-matyas-zaborszky-denounced-7d646a89719d  (https://medium.com/@MatyasZaborszkyscam/wednesday-may-30-2018-new-scam-of-matyas-zaborszky-denounced-7d646a89719d)
4- New complaint against Scam Matyas Zaborszky : https://medium.com/@MatyasZaborszkyscam/new-complaint-against-scam-matyas-zaborszky-833daeec2118 (https://medium.com/@MatyasZaborszkyscam/new-complaint-against-scam-matyas-zaborszky-833daeec2118)
5- MATYAS ZABORSZKY SCAM! : https://medium.com/@MatyasZaborszkyscam/matyas-zaborsky-scam-aabac3379e15 (https://medium.com/@MatyasZaborszkyscam/matyas-zaborsky-scam-aabac3379e15)
6- https://medium.com/@MatyasZaborszkyscam/sec-obtains-emergency-order-to-halt-scam-ico-blockchain-evangelist-charged-2c3630a6a949
7 - https://medium.com/@MatyasZaborszkyscam/the-well-known-scam-matyas-zaborszky-continues-these-scams-in-the-icos-sector-2ec0be031b62
8 - https://medium.com/@MatyasZaborszkyscam/help-us-to-stop-the-scammer-matyas-zaborszky-and-these-accomplices-64a2c53b0943
9 - https://medium.com/@MatyasZaborszkyscam/eos-hack-may-result-in-millions-of-investors-getting-scammed-out-of-tokens-cfa6a816540e

Some More :
https://www.sitejabber.com/reviews/matyaszaborszky.com
https://matyaszaborszkyscam-99.webself.net/

Because of the greed in this space, ICOs have been turned into a get-rich-quick scheme. Their value as a crowdfunding method is undisputed, imo. Regulation needs to be imposed, to allow ICOs to be the future of investments.

All the ICO devs have to be forced to invest their own money into their projects first, and then try to gather
funds via ICOs.This will be some kind of a guarantee that they are really involved into their projects and they are not creating and promoting ICO only for the money.The funds gathered from ICO have to be held by a trusted escrow and released only after the reall identity of the project devs is revealed.

Of course a lot of ICOs is get-rich-quick scheme. But luckily people are getting smarter and dont invest into anything with word "blockchain" anymore!

Thanks for the valuable information.