Bitcoin Forum

ICO themselves are destroying the institution of the ICO!?
I think the greed that prevents changing the world is to blame for everything!
What do you think? ???

You have to be more specific about what exactly have you meant by the ICO institute. You should also be more specific about the process of ICO destroying those institutions. Without proper clarification it won't be wise to comment anything regard the topic.

Yes I also think that way. Many ICO fail to performed the expectation of many investors which is building up bad reputation on ICO. I could believe that it would be corrected by them also.

Legit ICO will not make it worse, its those ICO that are too scumbag that didn't mind others that ruining its name, those who sincerely want to run ICO is also affected on it.

Why they will destroy themselves and what you mean by the statement about greed? I think you should be aware of the consequence of ICOs on todays situation. We still on a bearish market and ICOs are failing due to lack of investors. It's not that they being greedy and extending their timeline beyond schedule it was due to lack of fund yet before they launch. I know what they feels and that is something we should bear. I understand that legit ICOs are patience but those scammers are so hasty to collect funds.

if you look at the history of some ICOs at this time, it is very difficult to achieve softcap, so they return the investors' investment, this proves that what the OP said was true, because many ICOs were scams that made the reputation of the ICO project worse and dropped the overall ICO image

That's right, they are hurting themselves. but for some reasons a lot of people are even smart in these days. so many times they have been avoiding the scam icos.
it makes the ico condition even worst. I hope that there will be more people will try to learn a lot about how to avoid that scam icos.

some ICOs basically destroy the reputation of the whole ICO industry. How can I say that? well, in some cases. ICO promises so much more than a usual thing. What happens next, they scam investors and bounty hunters. This result for the ICO's to lose reputation and its really really bad for it.

I think there must be some regualtions to run ICO so that people can be safe from scam ICO

That is the reason why more legit ICO's are struggling to get their presale because of the hesitation of the investors to invest upon rising population of scam ICO, even bounty hunters had been affected on this.

there is nothing to destroy, the concept is flawed to begin with. raising funds by issuing some token that has no usage and only bloats the market and clogs the platform it is using is pointless. and Initial Coin Offering is basically the same thing as premining an altcoin and then airdropping a small portion of it to newbies while you are the biggest shareholder who only dumps on each pump to get a lot of free money out. this is the whole concept but it is prettified by calling it a company raising funds to do something or create some product!

If you think the very concept of ICO is wrong, can you suggest a more suitable option for the development of tokens? In my opinion, this is the most democratic way to improve cryptocurrency, in which everyone can participate. Of course, given the large sums that ICO collects, this cannot fail to attract the attention of various kinds of scammers. We need to choose such ICO projects more carefully for investment and for promotion as participants in the campaign of generosity so that fraudsters would have no chance of success.

those scam ICOs are the one destroying it. individual or groups start their own ICO because they have an idea and they need funds to develop it. so what is wrong with it? when you prevent someone to express his/her ideas that is like preventing the world to change. the crypto is not perfect so expressing ideas can help crypto progress.

      So let us be specific if that is your thought since there are legit ICO even if some payments or  reward tokens was delayed but still consider as legitimate , and there are so many ICO that are identified as scam and they are destroyed the reputation of legit ICO .

Will, no one wants to destroy their own self just as that. The whole ico is encompassed by many complications, taboo, restrictions etc. So they might seem struggling, but they are really trying to get up as well as the investors. So, it's better for the investors to support it too.

No one can stop human greed, so your statement is impossible to achieve. We can only wait for changes in the ICO system. As long as we can effectively avoid those fraudsters, ICO will be resurrected. Perhaps the best way is that government departments can introduce targeted laws and regulations and can set up relevant institutions to supervise ICO.

This is not a bad thing, maybe it is a cleansing of the market, and ICO will be supervised in the future. This helps the growth of the cryptocurrency.

Ambiguous, I do not think so. A lot of projects collect softcap. We judge for a very short period and raise a meaningless panic. Everything goes on as usual, there are a lot of cheaters, this is a test to become better and stronger

Yes, and I have the theory that ICO's also fall because we are in the bear market. Remember last year we have so much growth and no one complaining about ICO's scams except for a few which made it big and headlines to crypto related websites. But since we have seen a lot of struggle this year, everyone is looking for someone to blame and every time their is a scam ICO's floating around, everyone took noticed hence other legit project is affected. So we have this domino effect and its difficult for them to at least raise or hit their soft-cap.

Yes, the greed of the people who created the current project to attract money destroys the ico institute. Some regulation of these projects is needed in order to get less scam. I think in the future they will create a tool that will protect investors without creating special barriers for them.

ICO history is currently not as good as some time ago, because there are so many ICOs that finally failed to run the system and made substantial losses to investors, but it all also came from high fraud rates so that investor confidence in ICO decreased and caused the institution to collapse, but for now, of course there are still high dedication ICOs that are very good at running the system

Not all ICOs are destroying the market of ICOs, there are still legit ICO exist in the market. The main problem is there is no such thing as ICO institution, if this ICOs institution existed there could have been guidelines or clear regulation on the ICOs to safe investors from greedy scammers. There is unclear regulations on the ICO that is why scammers recreates fake websites, whitepaper and uses the fake picture of peoples to show them as their team members. If everything goes right they scam investors and runaway, but thanks to few members on BITCOINTALK forum who exposes and have exposed such shaddy scammers on the forum to aware the community.

so you are also included? because you are part of a bounty campaign that is covered by ico?
I think this is naive for you to discuss but does not provide an option about your own opinion.

I do not think that. That's just a service and that service is totally up to the user. I know that ICO regulations are bad so there have been many scams and ICO projects have become less trustworthy. But this is a risky market so people think that this is normal.

ICO is a type of crowdfunding using cryptocurrencies is a means of raising capital that has been prone to scams and securities law violations. I also think ICO themselves are destroying the institution of ICO because of their greed.

Greed is not only in the cryptocurrency market, it is in any sphere of human life. Where there is money, there is always a man who wants to steal more than he should. I think the ICO had nothing to do with it.   

Yeah, although there are many scam project in ICO market, but there still any legit ICOs. I have the same opinion as you, we need a regulation here so the scammer will not do their bad act anymore. But it still a hope, let's prevent the scam project by doing any research before joining any project.

The majority of ICOs will not survive. The entire industry is just going through a rapid phase of development.

As it matures we will see better offerings and more stability.

Not all ICOs are the same. It's not quite right to generalize in this case: it is scam ICO that ruin ICO's reputation, not just any ICO.
On the other hand, the market is extremely bloated with hundreds of ICO coins being listed on different exchanges. It may be confusing for investors and traders, but I can`t say it`s only negative: current environment is the natural selection of coins, where only the strongest can withstand.

It is both increasing its awareness and hurting its value all at the same time.

I mean if you are investing into an actual good token or ICO than you already made a decent chunk of profit from it, there are some people who made insane returns from ICO investments and they made so much more profit that they reinvested into another ICO thinking they will do that type of profit again and than reinvested again and again until they invested into a scam ICO and all of a sudden "ICO's are all scam nowadays", well no you have invested into so many ICO that eventually you found a scam one. People who find the scam ICO's at first or second try are also quite troublesome because they believe ICO's are not that good from the start.

In reality there are very few good ones but the ones that really blossom thanks to funds have made x100 or more to the investors so far such as IOTA for example. I would suggest not investing on ICO's in a rush because it is not something you should do quickly, it is more like a slow and steady work and you should really research them well in order to make sure it is not a scam coin that would hurt your finances.

ICO is only a means to raise funds for projects. But a lot of fraudulent projects are also involved. This has disrupted the market. Let the real ICO project get no attention. I think ICO will still exist for some time. As to whether there will be new ways to raise funds. Let's wait and see.

Up to what I understand your question, I can say that the ICOs are indeed to be blamed for their bad reputation. ICOs have been in the limelight since the last years when hundreds of ICOs launched every month.
It has been the year of ICOs the previous year and the obvious results(i.e. Scam ICOs) have turned many faces down. It has become obvious that ICOs are not going to be trusted anymore since a lot of people have been scammed from the last year. I guess only the truly potential ICOs will be trusted and supported by the crypto community now.

ICO's are in the situation of dealing with setbacks due to the scam based ICO's. To help ICO's from our side we can take the time to get details about the project they offer, overview of their team, what their goals and and so on in order to know if they are a legit group with a potentially good idea that has a future. With all this in mind we can hope to see a change for ICO's.

Even in a pile of garbage you can find a decent thing. Many ISOs do not offer anything new, they just copy other people's ideas without making even changes, but such projects have always been there, good and worthy projects are immediately visible. I believe that weak and bad projects are also useful, because they teach the inattentive investors to take money more seriously.

ICO is only a fundraising tool. The use of blockchain technologies increases the reliability and speed of fundraising. At the same time, while there are no reliable mechanisms to protect against the fraudulent use of the funds collected. It depends only on the goodwill of the organizers of the ICO.

Yes they are doing harm to themselves. Most ICO's are pure cash grab these days. This is not good for the future of ICO's and the investors. Once investors lose faith in it, then ICO's won't be able to reach hardcap.

I believe that the market for ICO projects is changing at the moment, and many projects should reconsider their requests in the future, because most of them want a lot of money for their development, having only one idea, without a working product.

There are many ICOs trying to scam people for a short term gain. This is a fools path as if they were dedicated to the project, it would have blossomed into a very profitable venture in the long term.

I do agree with your vision. There are many scam projects which is giving the ICO a very bad name. If only this scammers could be caught and punished properly we could've seen much fewer of those.

To some extent I guess. A lot of scam ICOs surged in last couple of years and they deeply wounded everyone associated with ICOs in general and made a serious damage of the overall reputation. But you have to give it to the people as well. Their bottomless greed is the reason these scams could cash in

The scams that are happening are solely responsible for this. People are becoming greedy and they want to get rich in no time. That leads to their downfall.

in any case, this was already to be expected, since information about the possibility of easily earning a lot of money was sold out very quickly and the scammers took advantage of this situation. First of all, you need to legalize not only cryptocurrencies, but also the company's ico market, so that there is some control over the development of ico companies and their teams.

Few fraudulent ICOs ruin the reputation of the entire ICO system. ICO promises more than can fulfill. There are not many of them, but the deception of investors and bounty hunters harms good ICO projects.

I fully agree with this opinion and I think that almost all ICO are too greedy. Sorry for some of the projects that are really good and they would need to collect the normal amount, but unfortunately this does not happen.

I think it's not as bad as you think. Yes, there are many scams in the ICO, but they become smaller every day thanks to the joint actions of the community to regulate this industry. IMHO

I think icos are really huge chance for technological developments. But teams always want more money than before. They are trying to collect 30m dollar 40 m dollar etc.  30m dollar means If you are paying 5k dollar for a engineer monthly. That means 60k dollar per year. so that means you can hire a 100 developers for 5 years with 30m dollar . That is huge money and we know they are not using that money for that.
I believe these icos are killing themselfs. They dont care about us (little investors=) and they are only trying to collecting more money

No, I categorically do not support, the main problem is that today the market did not create a service that would be a filter for scam projects, which today, unfortunately, has really become a lot.

Of course, investors and all those who care about crypto, I think, have anticipated and appealed to the many ico crimes lately. I think investors and others have been able to overcome and can be more careful in choosing a good ico. those who are not careful can be fooled by fake ico and accept losses.

Your questions are not straightforward, therefore, not addressing anything in particular.
In what ways are ICO causing destruction?
No thought came to me, than for you to make more clarification of your questions.

Yes it is, it's the sad part of it, ICO was better then because it was managed by a good and trusted admins, but now scammers have found a way to this industry and they replicate the success of those early successful ICO, now it's hard to know who are the good ICO and the bad ones they all looked the same to me.

Too much ICO could destroy the ICO and the reputation of ICO is not too good due to the numerous of scamming, abandoned project and non quality coin that keep on appearing and we already got too many coin that flooded the market, that's why a lot coin now is in stagnant position because the ICO keep coming out but the investors are not adding

You're make a good point which I agree to some and disagree to some in terms too much ICO and much coins in the market to be the reason why some coins are in stagnant position because cryptocurrency/block chain industries is a large  industry which take as many coins/ICOs project but the main problem is people abusing the potentials of the industry by using to scam, lie and cheat on people either through ICO or not deliver their promises to investors after the ICO.

Well, it not every ICO that are involve in the destroying of the ICOs institution because there still genuine ICO out there which come to beautify the crypto sphere and like you said the greed that preventing changing and innovating the world with future money(cryptocurrency) are to be blame but if the US SEC could do someting about scam ICOs we will have nothing to be worry about.

This is the truth, since now people are now bringing icos into the market with products that they have no intention of actually sustaining for the long term, they are destroying the institution of icos. There are a lot of good icos out there which are doing well but there are a lot of bad ones too and they are the ones that are making people not want to invest in them

It's not clear but i think you're referring ICO's destroys the word ico by not delivering their product after they colllect money

Sure, with such a variety of scam projects and people that were get scammed. The problem we are facing now, is the lack of investors and one of the main reasons for this, are the projects that are scamming their investors.

Some of them are really greedy , they don't deliver product and just cheat with backers .
They are getting away with money and don't keep promises thus destroying whole community!

What greed are you talking about? Just investors have become more careful to look at the projects in which they invest. Plus, now is the time-a time of global market correction