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Alternate cryptocurrencies => Altcoin Discussion => Topic started by: chenille on December 02, 2018, 05:40:55 PM



Title: rICO - an ICO where you can reclaim your ETH?
Post by: chenille on December 02, 2018, 05:40:55 PM
The concept of rICO (reversible ICOs) promises to make the ICO market more secure and fight against scams that brought a lot of negativity to the market.

For projects based on ERC-20 platform, investors should be able to order back the invested cryptocurrencies (ETH) at any time if they are not satisfied with the progress of the project.
Every token owner could simply return the own Token to the sender address and in return he would receive the invested Ethereum via smart contract back. This should make sure that the developers continue to work diligently on the product after collecting funds.
Most scammers won’t be successful in stealing funds if the project is based on this new reversible model.
Investors could get their investment back, at least large parts. Bit it would be difficult to arrange, because the team needs access to some of the money to make progress on the project.


What are the dangers?

Of course, there are also dangers, especially the uncertainty, when too many investors withdraw their money and the new company may run out of money. However, in good projects, the proportion of those who are not satisfied and reclaim their investment will be very small.

In general, this solution of the reversible ICOs is very good, because the normal investors are clearly protected. For the developers there is also an interest to provide a successful project, otherwise the investors could transfer their investment back. For ICOs in general, this would mean an increase in interested investors and more money can be collected.
It would be a significant improvement to the current situation.

The ETH developer Fabian Vogelsteller proposed it in late October / early November 2018:
https://www.icorush.com/news/erc-20-co-author-fabian-vogelsteller-proposes-new-ico-model-rico/

What do you think?


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: chenille on December 05, 2018, 12:43:39 AM
Up for visibility.

Any comments or suggestions regarding this topic? An ICO where you can get back your ETH if you don't like the behaviour of the team would be very nice.
Scammers party would be finished  :)


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: Pamahaw on December 05, 2018, 01:01:09 AM
Good concept, is there already an ICO adapting this concept? Even if i can't get my whole money in return at least there is an assurance that i could get my money back if ever the project fails. If this would be implemented then i think it would bring back the investors.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: sabine80 on December 05, 2018, 03:36:16 AM
this could be a way to revive the dying ico market. this can give investors the security they need and scam ico hopefully get over it. i am really happy about this good news.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: X-ray on December 05, 2018, 06:42:36 AM
Up for visibility.

Any comments or suggestions regarding this topic? An ICO where you can get back your ETH if you don't like the behaviour of the team would be very nice.
Scammers party would be finished  :)
I thought that where's the differences? The raised amount will always store in the hot wallet and that's centralized. I can't call this as a bad idea but at the same time this is not a brilliant idea. We need another alternative way. This will not help a lot for me personally.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: tuthienloc92bk on December 05, 2018, 02:35:24 PM
I thought that where's the differences? The raised amount will always store in the hot wallet and that's centralized. I can't call this as a bad idea but at the same time this is not a brilliant idea. We need another alternative way. This will not help a lot for me personally.

At first I thought it was a good solution for the fundraising, but when you said, I noticed when money out of pocket then there is no way back. They can transfer the entire fund to another wallet and disappear. There is absolutely no binding here.  :-\


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: chenille on December 26, 2018, 07:54:25 PM
Up for visibility.

Any comments or suggestions regarding this topic? An ICO where you can get back your ETH if you don't like the behaviour of the team would be very nice.
Scammers party would be finished  :)
I thought that where's the differences? The raised amount will always store in the hot wallet and that's centralized. I can't call this as a bad idea but at the same time this is not a brilliant idea. We need another alternative way. This will not help a lot for me personally.
Where did you read this? Reversible ICOs are smart contract based and therefore a decentralized solution. It's designed in a way that scammers can't abuse it and if they are planning to exit-scam they have no chance to take all the money.
I won't judge so fast, it's still in development.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: sorrysteve1 on December 26, 2018, 07:57:25 PM
This structure would be terrible for conducting an ICO, the team can't properly manage their finances and are so liable to what ICO investors think and do. Many of the best projects have had times where most investors would take back their funds if they could, now they've gone on to be tremendous successes.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: chenille on December 27, 2018, 11:21:27 PM
This structure would be terrible for conducting an ICO, the team can't properly manage their finances and are so liable to what ICO investors think and do. Many of the best projects have had times where most investors would take back their funds if they could, now they've gone on to be tremendous successes.
I don't think it will be terrible for ICOs. In opposite! It will bring more investors into the project, more will invest and the money will be more they are investing because they can feel safe about this ICO being no fraud because it's possible to get the investment back.
Of course, there can always be some investors sending back money after the ICO for various reasons, but the additional funds from being received due to being transparent will be much more compared to funds returned after ICO. 


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: Masatos on December 27, 2018, 11:22:23 PM
I do not believe in all this because I have seen many similar projects and all of them unfortunately did not return their money


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: jossiel on December 27, 2018, 11:59:01 PM
That's an interesting and good idea for those ICO lovers but its not only about the dangers but its about the choice of the ICO developers. Do you think that they'll use a system like this though it can be implemented that will be unfavorable to them?

It's a matter of choice, if they decided to use this system/model then it should be good for the investors but as you said these investors can also pull out their money at the same time which isn't also good for the project. Seems like we can't really create a perfect system, like what I've learned on my studies that there's no perfect system.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: plr on December 28, 2018, 12:05:00 AM
Up for visibility.

Any comments or suggestions regarding this topic? An ICO where you can get back your ETH if you don't like the behaviour of the team would be very nice.
Scammers party would be finished  :)

Do we have a project like this now, so many scammers in the ICO that we desperately need something like this to save investors their money and bounty hunters for lost time and effort, in two years time confidence in ICO will banish if there is no system that can protect investors.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: dddudidd on December 28, 2018, 01:18:25 AM
investment in ETH must be realized, due to the progress of ETH itself, because the return of ETH in second place everyone is waiting for him.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: SwiggHeart on December 28, 2018, 01:23:42 AM
So, what is the conclusion of your project? It is a kind of third party platform from an ICO in another project?


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: judeafante on December 28, 2018, 02:56:27 AM
Up for visibility.

Any comments or suggestions regarding this topic? An ICO where you can get back your ETH if you don't like the behaviour of the team would be very nice.
Scammers party would be finished  :)

I'd like to see this implemented, there's a big risk now investing in ICO than ever before, it's now time that we can set up a system like this, if not now we will lose investors and the ICO will eventually die down, I hope I can see one ICO with this kind of features, it will guaranty fund raising.


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: florac9 on December 28, 2018, 04:15:18 AM
I've heard about this since a while already and I can say its a bright idea and it seems like a smoother way to revive ICOs from dying bed ,but let's not forget that STO is around the corner too ,I think 2019 will open our eye to something newer than what we've seen in the past


Title: Re: rICO - an ICO where you can reclaim your ETH?
Post by: chenille on December 30, 2018, 05:54:36 PM
Do you think that they'll use a system like this though it can be implemented that will be unfavorable to them?
I can imagine that they probably do it and use it as a good marketing. They can say, that the project is transparent and no scam because people are not risking their money to be lost. This can attractmany investors compared to other projects, where you risk your money to be completely lost.