Bitcoin Forum

Am making this thread because of the numerous wrong perception  seeing. So people are actually castigating cryptocurrency and initial coin offering idea for loses the made through it rather than really seeing the cause of the problem.

Initial coin offering is one of the great ideas in cryptocurrency and we know that it was efficient in 2017. Through initial coin offering some great coins of today where launched people keep overlooking the good attributes initial coin offering has offered but are busy bringing it down the more and making all hope of initial coin offering being as it once was hopeless.

It's too bad Scammers stated getting involved  in initial coin offering and projects without logic and idea also got involved but this doesn't mean good and real project are not involved or want to get it but the stigma had made developers develop cold feets

PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it

You cannot avoid scams in any art of fundraising. There were and there will be scam projects and it does not matter if it is an IEO, ICO or STO. On the falling market ICO and STO were not popular because there was no guarantee of exchange listing, thats why IEOs are so popular now and nobody cares about any ICOs.

We can't blame most of the people that has the same thought about ICOs today. Many projects made the reputation of ICO market bad because of their abuse and evil intention of scamming their investors so that's why everyone's opinion about it is the same.

Yes, IEOs are very much popular now and with the recent jump of 800% profit of one project held on Binance this made investors more exciting. But as you can see, there's still numerous of projects that are conducting ICO until now. I guess they are trying their luck.

Of course scammers are to be blamed. ETH has also come into the market with ICO and is the 2nd largest cryptocurrency now. There's thousand of way of ebing scammed in this fund raising sector. Once I had written a short article. Link- https://bitcointalk.org/index.php?topic=5118933.msg50096868#msg50096868

Scammers have found a way to infiltrate the ICO system because it is so easy to get in and scam people, so instead of endlessly spending time to check if the project is ok and legit people are now turning to IEO which has become the popular crowdfunding platform, it's really the scammers that should be blame so investors has no option but to leave it.

You are right, scammers are to be blamed for all the losses investors have incurred over the years as a result of investing in ICO. Nothing is actually wrong with ICO but scammers have given it a bad name.

The only way to curb those scammers in the ecosystem is to have regulations.

But it is still debatable up to this point, who will be the central authority here? ICO's are born from every country, so do we think that the country of origin should at least regulated it before they actual come out in the market?

Scammers will always show up when there's open opportunities for them to earned, it's been tackled before that everything that connects in gaining
profits scammers will be there to try his own chances, we can't blame anyone but us alone, if we do the right research before investing our money in
this sammers be avoided or it will lessen their participations.

Yes. The IEO was born to improve the shortcomings of the ICO and it was great. While I'm a bounty hunters and a small investor, I'm really looking forward to projects with partner exchange.
because I am always afraid that the money I give them will not be returned to me. There are too many fraud projects in the form of ICO capital mobilization. The IEO is really a very effective solution at the moment.

Let things happen naturally, when the market grows strongly, investors also increase, thinking with projects and scamers also increase accordingly.

We can definitely avoid scammers. That is why anpther projects like STO, IEO are being introduced and are being tested now. We may find out soon if scammers will definitely enter this which I certainly think they will. Or if it is hard for them to think another plan how to scam people using this new platforms.

As for OP,  no one will be blamed for but the scammers. They are ruining the reputation of the said projects. How can we fight against them? Let's start by opening awareness within ourselves. Not easily fall for their tricks.

You can't remove the fact that the investors will blame the ICO in general because it has been infiltrated by numerous scammers. Yes ICO doesn't do anything because it is very important in crypto world because many coins and tokens have been created because of ICO's. The problem is the scammers who are using ICO's too just to scam investor and that is the problem right now.

I think the best way to prevent being scammed is just to invest on IEO's instead of ICO's. It has a lower risk of being scammed.

The idea is also part of the blame for not having an anti-scam feature (or an idea that won't let scammers do their operation through ICO). It is good that ICO has reached its downfall and less unfortunate people will be scammed again. Never forget the damage did by ICOs.

Blaming ICO wasn't really good. But, we can't blame the investors for doing it because when ICO really doing its job as their part of keeping their investors money safe there must not be scammer can involved here. We really cannot avoid scams in any art of fundraising. There were and there will always be a scam projects. So if we have some problem with the ICO, and feels like theres no future why not let it go and try to find another good projevt like the dencoin tokens which you can be benefited by joining in. And it really guarantee you a good investment.

you are right, the ico idea was not the problem we have but the scammers who has operated in the sphere. More reasons why I think regulation is needed to help scrub out most of this acts. Also , regulation will help fight useless projects that do try to exist.

The more we see that ICO are becoming scam day by day almost all of the ICO scam we can really tell that ICO's are not to be trusted anymore but in the end of the day it is the scammer who managed to dirty the name of the ICO, on the other hand IEO is never used to scam people atleast as of the moment until so many IEO  become scam they will say IEO is a scam investment too.

It is wise idea to root out scam projects and scammers from the market. But the reality is that scammers cannot be rooted out. Rather it can be controlled. Talking about ICO, IEO and STO, ICO itself is not bad and IEO and STO will bring a massive change in scamming. The project itself should be genuine. Then it does not mind the genuine project raises funds through ICO, IEO or STO.

The problem with the ico is that it makes it a lot easier to scam people. Anyone can copy a whitepaper, create a flashy website, and buy profile photos on shutterstock, job done!

Depending on the project some project are not real the intention of many project is to scam so more scammer will be attracted to use the platform.

i don't see anything remotely great about initial coin offerings and it has nothing to do with scammers. scammers are everywhere, they are even creating shitcoins without ICO but that doesn't make cryptocurrency bad.

ICO is bad by nature because it is fund raising for an open source project that is a copy of the same technology used by others and it is suddenly giving a huge amount of money to developers for doing practically nothing. specially when they are releasing a token not a stand alone cryptocurrency that doesn't rely on another platform (like ethereum platform) to run.

if you also check the success levels of ICOs versus normal cryptocurrencies with no premine or ICO you can see that the later group has a much better success. that is not by coincidence, that is because of the flaws of fund raising.

I am agree, we should not blame ICOs system but the scammers behind scam project. ICOs should be regulated by government because its about investment climate and we knew that in 2018 many ICOs project are scam and many investor trauma and right now they prefer invest on IEO becauase its more legit and get listed soon after IEO end.

And what you are missing is that the ICO scam cancer is already spreading too fast ,I don't blame those that looks ICO just as bad as anything ,only very few ICO projects are real

The way to collect funds for ICO is a very interesting idea, but unfortunately it is true that scammers use this method. Perhaps that is why a new fundraising method has emerged - IEO. Everything in this world is evolving, improving and changing its form, so the same thing happened with ICO, which evolved and turned into IEO. But this is good, because the cryptocurrency market began to recover and promising projects collect the necessary amount of funds.

But nowadays, ICO's are becoming the house of scammers because they can raise money and just stole it from the investors, we can't blame people about saying icos are scam. Its faulty and not perfectly safe it has flaws to be taken irresponsibly

There is one action that this forum is having to address potential ICO scammers. The scam accusations board. Those who are doing their research and truly care that someone might be scammed are posting their threads in that section. The team/project involved can always answer those allegations and assess for ourselves who is saying the truth. Though not all scam or crap projects have their thread, still that section is very helpful if you want to check a particular project if they have issues unresolved.

That's exactly the point am trying to make and not only have scammers gotten hold of the initial coin offering but are systematically invading cryptocurrency as a whole and this is affecting the adaptation of cryptocurrency globally

that's why we must aware about that and when we find a suspicious ico and just try to create awareness to the community. The scammer will be used the fake accounts to spread lies among the community. I have experienced with the scam icos so many times. But ieo was giving more advantage to prevent it.
We should do various analyzation to the team member or any technical things related to the ico.

Scammer is a part of this cryptoworld we cannot blame those people thinking that ico is another type of scam becausenof what happen last year the number of scam icos are being raised and theres a lot of people being scam the current situation of ico are so bad you will count the real potential project and most of them are now switch to IEO.

we have various character from market participants.some of them be honest man in earning money by investing or maybe trading.but for people that have bad charater they will doing bad things by creating fake projects or maybe scamming other people.

We are waiting for your suggestions.ICO nobody kills, just many investors have become smarter and more cautious.If the project and the team are shitty no one will give them money.That's all.

The cause of the problem is simple, anyone who can convince someone to invest money can get investors from around the world without even having a working model hence it will attract scammers just to take advantage of the situation, it is a noble thing but the idea of crowd funding for a project is nothing new and the blockchain enabled everyone to participate so easily and that attracted scammers and other trail and error individuals who wanted to make money with other peoples expense.

To tackle the issue, the people who collect these amount of money in the name of projects must be accounted for their trail and error case and if their project is not successful they must return the amount and not let them keep the money they earned through the crowd funds and it will reduce fake projects and scammers.

You give people too much freedom without boundaries then they will misuse it. ICO was a form of freedom and the cryptocurrency community misused it that's why we now have IEO which has less freedom than ICO as some exchange now have a say over how much you can invest, when to invest etc I blame the idea for not providing security majors to tackle the scam. You can't blame scammers as they're like change which is constant for better improvement on a system or idea without the  scammers more brainstorming via improving on ICOs won't have been developed so I blame the idea for not been close to perfect or flaws free although I get what you're trying to say.

Okay I am also guilty of that. Maybe because I am so dragged by the hype of too many scam ICOs.
I didnt even notice that I am already blaming the ICO and not the one who creates projects using ICO to scam people.

Yeah, that is correct. I am also a victim of one. Pretended to be bankrupt although I already knew that something is being brewed for evil deeds.

Exactly not all the ICO's are bad, Most of it are Good projects too, But due to some greedy people ICO's was painted with controversy and become bad in the eyes of the investors. Thats why in my own opinion the idea is not bad although that it has cause some damage in crypto-space i still believe that its not too late to make it right.

Once anything involves money it takes a very large effort and integrity for greed not to step in. Sometimes it starts as little as I will take 5%/and it won't affect the project to larger % that will. In any group there is a Judah, he or she might be the one to scam the project that doesnt ran others had the intention. We should just live by integrity.

the ICO concept is actually very good. due to lack of supervision and regulation, many people abuse it. we cannot blame and stop trusting ICO. and there still real ICO running out there waiting for invesment. just be careful and dont to get worse because of the scammers actions.

You are right, scammers and poor project which killed ICO are ganging up as well to kill IEO, there hasn't been much difference between ICO and IEO, scammers and poor IEO are targeting IEO to get away with people's money.

Scammers are really annoying and we can't stop them easily. They are a collection of professionals who have known how to trick participants into plunging into their trap, in the crypto world, they are included in the ICO. Here, sometimes we give judgment that ICO = scam. In fact, there are many legitimate ICOs. However, because it was closed by a large number of ICOs who scam too, so most investors are afraid with the ICO. Here is our job to be more careful in analyzing whether the project and the team are scammers or not.

The sin of Pedro, never been blamed to Juan. I agree with you OP! ICO will never been destroyed if those scammers and runners are banned in crypto space. Many people were totally fright to lose another capital because of these scammers. ICO is fund raising system wherein investors and developers meet their one goal. It should be backed its trust again to the people.

Agree with author of this topic! Need to create some tool to check ICO if it scam or no, because ICO - it is good chance for many great ideas and innovations!

Scammers usually take advantage of any striving system to perpetrate their devilish act, and guess what: even though people may know what they are about to invest in could be disastrous, they still go ahead not caring to carry out proper research. If proper researches are been carried out and a community based review of project like we sometimes see scrutiny of projects in this forum, a lot of funds would be save from the hand of scammers.  I occasionally still buy ICO and IEO, but majorly trade coins in exchanges.

ICO is just a way of fundraising and its the project fault if its not going to succeed or its turn to scam and blame the project team not the way of fundraising,Because i have a project that offers ico amd this project is legit so i know can help us to make profits and this is the Dencoin tokens.

How strangely you are right there is fraud in any field of activity and, for example, in a cryptocurrency project it may be a good idea, but fraudsters take advantage of this by slamming the idea and then deceiving people.

There are really so many factors which make an ICO not successfull. Some are lack of funds because investors are afraid to invest, lack of proper marketing and promotion, many scammers are existing and the market status. What we can do is to continue with whatever we are doing and everything willl be alright. Be patient.

Nice one.
  I think it can't be killed easily though unless there is a deliberate and drastic moves to kill it.  Whatever kills it will definitely kill cryptocurrencies.
Decentralized ico platforms can be built to tackle most problems of cryptocurrency crowdfunding. Governments laws could even be built in on such platforms as long as the laws do not censor legitimate projects or prevent law abiding people from other nations from participating.

I personally think blaming the idea and the scammers is not the solution to the failure of most ICOs. ICOs were successful in the 2017 and early 2018 but it as gone sour due to a lot of scammers, the best solution is the introduction of regulations to curb these fraudulent activities from happening.

Some project will offer the platform legitimately but the one whose handling it properly will make it scam in the long run. Most of the 2018 project ico wasn't able to reach a great roadmap, and everything turn out nothing at a glance. More people thought crypto has no future, but definitely not because there's some projects might have successful tracks even if there's lot of scammers around us.

Scammers are always.getting.new ideas to scam the innocent people even in real world, scammers are scamming the.banks and we cannot.prevent this as they are all knowledgeable enough in.many things. Maybe what we can do now is to increase awareness in every coin or project.

Crypto is currently riddled will hundreds of ICOs offering nothing new, some of them have no interest in the project. Their major aim is take a share of the crypto money. ICO is no longer useful in crypto.

Of the majority of ICOs that are now ready to spend, there are some that are really fraudulent, and of course we cannot prevent it or withdraw it from the market, unfortunately ICO ranking sites can now be easily manipulated by all of them, but the ICO trend is currently in bad conditions, most people think ICO is just a fraud and now follow the IEO trend with all the great trust and exchange being one of the good and reliable project benchmarks.

The IEO is a new innovation from the ICO because there have been many scammers in the ICO, indeed this is not entirely ICO wrong. But this is a lack of ICO that is used by scammers and therefore the IEO appears as a solution to this problem, if this problem is not a solution, investors may be reluctant to invest in cryto and the market will continue bearish.

If someone says that there will be no scammers in the IEO, maybe they don't know. Surely one day scammers will find their way to exploiting the shortcomings of the IEO as well as the ICO.

We need a tool to control this. So as not to leave the scammers any loopholes. But it should not be a state. It should be an independent body that would keep all this under control and without his permission nothing could be done. Some kind of insurance company

The issue is not finding who to blame but rather facing the truth. Cryptocurrency would crumble if any project can just have access into the system all in the name of initial coin offering. I don't mean to bitch about this but it would do more harm than good if it continues smoothly

I am agree with you. People change their investment to IEOs because its guarantee by exchangers. Indeed, that we should make research first on IEOs because small exchangers doing IEOs too and i think better to invest on IEO held by exchangers with good reputation

Actually, ICO was very popular past days, I can remember many projects raise their funds. But after the scam projects and poor project investors lost their funds. That must be the main reason to IEOs became much popular these days. If there is a way to avoid scam project ICOs can be rise again. But no one likes to lose their funds. In that case, many people prefer IEO than ICOs. :-\ :-\ But there are still good ICO projects out there. we have to choose them wisely.

I totally agree with you. If scammers got banned ICOs will be a success. But I dunno how it can be done. If it is either crypto space has to get regulated or people to be wiser while choosing projects. On one likes to regulate crypto space. So people must be much wiser than before. But with the IEO I think there is less chance for the ICOs.

Exactly. Blaming the ICO won't help. But regards to this, ICO must do something to clear their name out from many scammers that sorrounds. As the market was rising, scammers are also their catching innocent people to steal their investment. So to avoid being scammed, choose a project that gives a real definition of profit amd makes you grow. This is tje dencoin tokens it was a really good project so try participating in with them now.

The one who blames ico are those no knowledge about cryptocurrency and that is the reality because the ico is only a fund raising and the project will be the one who use it so blame the projects that offers shitcoins and do ico.and if you dont want to blame anyone bw wise and invest only in good projects like Dencoin tokens.

It was a blessing until everything about it turned, a situation where more than 90% of the ICO's failed either due to the bear market or project was an outright scam. It is difficult to see any ICO raise a huge fund unlike before, the lack of regulation equally caused its wane, IEO's are now a better alternative as the exchanges provide a better confidence and trust

All of this blame game could have been put to rest if there is a standby regulatory commission for Crypto at large, there is a lot of fraud going on because there is no centralized regulations which have even make some legit project to not have enough support because everybody is watching his/her back in order not to be victim of scam ICO.

there has been a lot of anticipation not to be a victim in a scandalous ICO but as a result there are still many ICOs who are scam and there are some investors who have been hit by scams, usually they use tricks to lure investors to look convincing.

I totally agree with you that the idea should not be blame but I partially agree with you that the scammers should be blamed because scammers capitalize on the loophole in the ICO system and enrich themselves illegally against their conscience the reverse might be the case if there are tight financial control measures like that of IEO are been put in place, the implications of that will make the project ideas to be well implemented.

ICO is flawed from the beginning because there is no regulation, it's every investor for himself to check if the project is legit and they are susceptible to hype, you can see a lot of ICO that was hype in the past and end up as shitcoin or investors running away with investors money, the idea is really wrong and scammers have exploited this.

Well so far, the only reason to do so is to make sure they have a good project and that the project is profitable on the back of the tokens you invest in. The pure reason behind IEO success is the fact that exchange check the project if it is good enough to gain value. Had we had this same thing in ICO, we would have gotten huge returns for the money we had invested all this long.

This would be an unending job where tackling scammers devs and fraud project? Its unresolvable I would say.
This is why IEO is on the replacement of ICO's.We are seeing on whats happening on its and I can say that
it is the new trend as of this moment.There might be some projects would survive using up ICO but it wont really be much the same
as wayback before.

All of those reminders that we're giving to the community, sad to see that there are still victims that are coming out and explains their mistake on how they have invested wrongly to a certain project and ICO.

Scammers will never think of their victims and what I'm saying about IEOs, just be vigilant. I don't say that everyone of them is scam but everyone has to increase awareness of every possible scam in each investment scheme that's coming out.

There is already a measure that's being implemented and that is regulating all these ICOs. Unfortunately for these startups gathering funds through ICOs, people have already moved away and are now in favor of IEOs.

We still blame the ICO  because it shows that there is inefficiency in the system  of ICO which gave chances to scammers, IPO is also a means of raising fund, and has been in existence for years before ICO made it become not so popular again, how come all these years, there has never been a record of scam.

I know STO and IEO are still quite new, but all look safer for investors, a perfect system must really put the security of its users or investors in position, there are scammers everywhere, they are waiting for any system loop hole to hijack, and they hijack anyone that gives them chance to do so, so if ICO wants to function well, they need to stop resisting regulation and forget this anonymous of a thing.

As a matter of fact, we can't blame anyone at all bacuse it's a poor strategy.Out task is to get enough knowledge to pass such scams and mind our own business.

Personally I don't see anything wrong with the ICO concept to raise funds for a project as a crowd funding tool, but many team members have abused it already.  The biggest hit was last year 2018 seeing many crypto enthusiasts falling prey to scam ICOs. Let's just be careful and invest wisely. I think  IEO took the shine from ICO since its less risky.

Yes definitely scammers makes everything not successful at the end otherwise the the effort will be given by the people hundred percent in all the time but we need to appreciate them if it was successful also but we are blaming the projects only.

Many people dont think and invest in the project, lose money and then blame everyone around, it happens not only in cryptocurrency. And sometimes the projects turn out to be unsuccessful, nothing can be done about it.

And when the idea is totally impossible to achieve? Then the team is not responsible for the idea and promises? That is the main reason why many ICOs die, they can´t achieve own goals.

You see mate, there is no system that is safe when it comes to security, as good and big as Binance is, they still got scammed by a professional hacker, and do we say that they don’t have enough security in place? Even this IEO that we are talking about, believe me that very soon, scammers will infiltrate and hijack it too and it will start from YOBIT.

The rate at which Yobit is releasing IEO projects from time to time within a short period of time, I wonder when they have the time to do research on them, and I am having a feeling they are just picking any projects that approaches them randomly. So instead of killing ICO completely with our mouth, we just have to push for regulation.

ICO is a source of fund of new start up project. In my opinion, lots of people invest were totally mixed up kind of people. Those are the one with experience on checking the project and its details while some are just hooked with the hype of the admins or management they are interacting. Those people usually have some sweet words and will let you invest.

If people can learn to understand to do RIGHT research then they will not get scammed. I think most of the people got scammed are the one who is being swayed by the sweet admin.

There are ambitious projects and you can invest in them but a very small amount of money. if such a project can be realized then your investments will grow by 1000 times and if not then you will lose a little money