Bitcoin Forum

ICO rating sites are everywhere. I don't know if all of them are honest or using fake rating to attract traffics to their websites.

Case :
Site X gives rate 10/10  for a project Y, then project Y put information on their website, says "We got 10/10 rating from site X" and project Y visitors will check site X, believe in the rating and put money on project Y. Project Y get investors, Site X get site traffics.

Let's say if Project Y is a scam, and Site X use irresponsible rating, investors will get nothing but a loss. Loss in money can be returned, but how if investors lose their trust in crypto?

So, do you have any solution for this as number of ICO projects are increasing day by day?
I wonder is it possible to, avoid investors from scam projects by building tokenized ICO site?

Let me hear your thought guys!

well

before icos there where standards and poor, moodys, and other us american rating agencies that dominated the worlds economy,

ico review will likely cause a lot og burocratic hurdles. they could be useful, to distinguish absolute scam or not but they could also become a problem for icos to be founded in the first place like the wallstreet does for many new enterpreneuers nowadays

There may be a few kinks in the system here and there; but, to be fair to some of the existing players, they do manage a fairly respectable job. Many of these sites have ranking systems based upon objective parameters. These can't be 'influenced', even if one does manage to buy good reviews from empanelled 'experts'.

Of course, there's always room for improvement, and for perfection. Develop your own honest site that solves the problem of 'crooked' experts.
 

Solution:

a) Don't ever invest now in ICO's

You know if a person really wants to put money on ICO then they must accept that they are facing a risks of being wrecked or scammed here. That's why there are lots of factors to be consider before putting a money on ICO.

Although those factors still not an assurance that everything will goes well, still it's much better to consider those to minimize all the associated risks in participating in an ICO.

This is a very complicated problem, I still today and earlier I was seeing this post made in the medium, here is the post:

Top 10+ ICO Rating And Reviews Websites (https://medium.com/@henryw1990/top-10-ico-rating-and-reviews-websites-ff0be69890b6)

and I kept thinking, "To what extent can we trust these sites?" because I came across this situation:

 [SCAM] - NEO FINANCE - Fake team, Token/Brand already existing (https://bitcointalk.org/index.php?topic=4831804.0)

They have Fake team, But look at this:


see that there is some post above this post that says team members are fake.

 VEIO.IO - SCAM (https://bitcointalk.org/index.php?topic=4856464.0)

They are scam, but look at this:

https://icobench.com/ico/veio

My advice: each person should investigate the projects before investing

I don't think that is a good solution. Telling people not to invest is not a good solution at all. You are right anyone should put their own risk in investment. But here, I want to know what can we do to minimize the risk of Investment through an ICO rating sites.

Yeah, usually a new ICO rating sites will give free listing and rating even the team of a project never contact them. Once the website bigger, the question is : will they keep doing so or improve their rating accuracy to minimize scams?

problem is that there are so many ico reviewals and they tend to behave same like wallstreet banksters (enriching the rich)

I suspect most ICO rating sites are not reliable
I personally relied on my own analysis
And some analysts I trust
These sites come at the back of my analytical points