Good ico is one where they have software that you can use, to verify that they can develop. Not only do most projects have no software, many of them have not released any software after months or years after raising multi-million $. EOS raised $200 million and said that they were going to release something by end of summer. Nothing yet. Gnosis raised $12.5 million and their website says that they are releasing their game by first half of 2017. Nothing yet. Qtum raised $15.6 million. I don't see anything produced on Qtum's website. After raising $50 million, Cosmos's website is still pitching its white paper. Come on. What have they produced with that $50 million? MobileGo raised $53 million. Here's the roadmap from their white paper: May - June: Gamecredits Mobile Store Public Launch
May - June: Gamecredits accepted for mobile store games and in- game content purchases
July - August: first centralized tournaments on platform However, I don't see any of that on their website. They're mainly bragging about how their token is on exchanges. What are they doing? Day-trading their own token? Watch out for ICOs that come from corrupt countries, where ethics and honesty are lax: https://www.transparency.org/news/feature/corruption_perceptions_index_2016 |
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From your list, many of the projects still have not produced anything that we can see, touch or use. EOS said that they were going to release something by end of summer. Nothing yet. Gnosis's website says that they are releasing their game by first half of 2017. Nothing yet. I don't see anything produced on Qtum's website. After raising $53 million, Cosmos's website is still pitching its white paper. Come on. What have they produced with that $53 million? Here's MobileGo's roadmap from their white paper: May - June: Gamecredits Mobile Store Public Launch
May - June: Gamecredits accepted for mobile store games and in- game content purchases
July - August: first centralized tournaments on platform
However, I don't see any of that on their website. They're mainly bragging about how their token is on exchanges. What are they doing? Day-trading their own token? I think a lot of people are going to get burnt by investing in vapour-ware. |
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Don't follow hedge funds.
The majority of them underperform compared to their benchmarks.
Second thing is, hedge fund managers learned about stocks. A programmer can do a better job of picking cryptos than a finance grad.
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Is these startups will move to another country to avoid regulations, what else will they be willing to do?
Will they exaggerate about their project? Will they lie? Will they tell you that their team member is a "Blockchain Expert", when he just quit his job as an Inside Sales Rep, as in the case of Change Bank?
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That's a good list, except I would change the ranking. Depending on how willing and able a team is to exaggerate or be dishonest, they can make "Team Composition" seem better than it really is. There are many projects that have stacked the team with many people that have little experience or skill related to cryptos, technology or the business that the project wants to enter. Depending on how willing and able a team is to exaggerate or be dishonest, they can build more hype than others Or, they can create fake users and therefore make the community seem more active than justified. The following should be much more important: 5 – What do they need the token for? Is the blockchain necessary? Everyone is trying to launch an ICO, and they'll try to put anything and everything onto a blockchain. Most ICOs' ideas do not need to be on a blockchain. One ICO is trying to hook up locals with visitors to enhance the travel experience. Really? This is a joke. The following can be misleading: 9 – Quality of the code – Meet Githhub You'll never know if the code is original or copied. You'll never know if the team can write software, unless they have software that you can run or use. Never invest in an ICO that doesn't have software that you can run. It takes way more skill, work and time to write software than to stack the team, answer questions, hype up the community, creating a video or even writing the white paper. |
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Those are not exactly valid points, as their team consists of a bunch of other people who all have relevant experience, maybe not exclusively in blockchain tech but in overall finance and development. Change offers everything TenX, Monaco, Polybius, ... offers, but also everything a bank offers, including insurance and loans.
Why would we put our cryptos in a bank? We won't. Change isn't ment to be a centralized financial entity but rather a decentralized banking network, fully supported by the network.
To say that you are a "Blockchain Expert" when you worked as an Inside Sales Rep until 1.5 months ago is an outright lie. To say that you are a "Blockchain Developer" when you've never developed any blockchain is an exaggeration at best, or a lie at worst. If the team is willing to lie about this, you'll never know what else they're willing to lie about. I only spent 5 minutes to find out the above. Here's what I found in another 2 minutes: Change-Bank's "CTO, Blockchain Developer" was an iOS Developer at Montise Create until March 2017. Cannot find any info on Montise Create. How knowledgeable is this guy in managing developers, or about banking, or about cryptos? How would Change be able to give loans, if people do not give them money (cryptos)? Someone doesn't understand how banking works. What problem is Change solving in insurance? I consider myself to be a cryptocurrency expert as well, as I can answer 95% of questions people ask me about it, because I've spend the last 9 months studying hours upon hours a day, learning how to trade, read graphs, research dev teams, and so on. But, if you look at my resume, you'll see that I 'technically' have 0 experience in that area because I spent the last years working in insurance. The company you're looking for is called Monitise Create, probably a spelling error. I've seen multiple startups grow to multimillion companies over the course of 2 years, not because they had experienced managers but because those managers were able to learn on the spot. One of my best friends is CFO in 2 LLC's and 1 international trading company. The only experience he has is learning on the spot. I've grown my portfolio with over 700% in less than 6 months and by the end of this year I should have doubled my monthly income through trading and consulting on the side. My experience is reading on fora like this one, and spending hours upon hours studying trading and finance when other people (my clients) binge watch another netflix series. Experience doesn't prove as much as people say, your attitude is much more important. Change will be able to give loans through the network. It'll take away some anonymity, as it'll require background checks, but I'm sure it'll be more like going short or margin trading on an exchange. I imagine it'll be like me investing 1BTC my friend loaned me and giving him back 2BTC 1 month later. Change will solve mostly insurance problems when travelling overseas and you don't have the time to arrange insurance with a standard company. It will use the blockchain safety and speed to provide insurance a lot faster. You're right that anyone can be a self-taught expert. But, out of the hundreds of ICO teams that claim to be experts, which ones are really experts and which ones are not? If one of them has actually worked on blockchains and built software that you can see, which one will reduce the risk for you, if you're an investor? Or, are you going to throw a dart on the wall and hope that you picked one that is truly capable of being self-taught? Have you looked at the backgrounds of the CEO & the 2 partners? None of them has any experience in banking. One of the partners worked for a waste container company. What's the difference between investing in them or any strangers on the street who claim to know banking and insurance? You've grown your portfolio largely because cryptos have been going up in price (some claim in a bubble), not because these crypto start-ups have generated the revenue or profit to justify it. Going short or margin trading on loans? That's not a loan. That's speculating. Have you looked at their white paper? 20% of it are pictures of people rowing boats. 20% of it is about their token sale. I've seen business plans for lemonade start-ups that are more comprehensive. Banking and insurance businesses are very complicated businesses. It's not like building chat software. The Change team cannot even prove that they are capable of building chat software or any software, let alone a banking business. |
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Those are not exactly valid points, as their team consists of a bunch of other people who all have relevant experience, maybe not exclusively in blockchain tech but in overall finance and development. Change offers everything TenX, Monaco, Polybius, ... offers, but also everything a bank offers, including insurance and loans.
Why would we put our cryptos in a bank? We won't. Change isn't ment to be a centralized financial entity but rather a decentralized banking network, fully supported by the network.
To say that you are a "Blockchain Expert" when you worked as an Inside Sales Rep until 1.5 months ago is an outright lie. To say that you are a "Blockchain Developer" when you've never developed any blockchain is an exaggeration at best, or a lie at worst. If the team is willing to lie about this, you'll never know what else they're willing to lie about. I only spent 5 minutes to find out the above. Here's what I found in another 2 minutes: Change-Bank's "CTO, Blockchain Developer" was an iOS Developer at Montise Create until March 2017. Cannot find any info on Montise Create. How knowledgeable is this guy in managing developers, or about banking, or about cryptos? How would Change be able to give loans, if people do not give them money (cryptos)? Someone doesn't understand how banking works. What problem is Change solving in insurance? |
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I can believe that many ICOs in China (and other countries) are scams. Even the Chinese government is saying so. Check out this ranking of countries based on corruption: https://www.transparency.org/news/feature/corruption_perceptions_index_2016China is corrupt. Russia and eastern Europe is even more corrupt. If a country is corrupt, it means that their people are more prone to exaggerate or even lie. That's why I see so many ICO teams stacked with people with nice titles like "Blockchain Developer" or "Blockchain Expert" who have no skills nor experience related to technology, programming or blockchain. |
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Exactly, if you don't understand the market you don't understand its biggest players and influencers, which means you can't possibly predict where it's going
You have Change Bank in your signature. Have you researched them? Their "Blockchain Expert" was an Inside Sales person in his last job. An Inside Sales person is someone who is not good enough to be a customer-facing Sales person. Their "Blockchain Developer" never developed a blockchain before. TenX and Monaco are already building crypto debit cards. Other than this, what is Change-Bank's compelling value proposition? Why would we put our cryptos in a bank? The advantage of cryptos is not to keep our money in untrustworthy banks. |
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Yes, white paper is important. Also, the country of origin is important, given the fear of scams. You should check the corruption ranking of countries: https://www.transparency.org/news/feature/corruption_perceptions_index_2016If the ICO is from a country with lots of corruption, then you know you're taking a higher risk. This is because the team probably has less of an issue with exaggerating, lying or cheating, because these things are more part of their country's culture. |
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EOS, if and only if, they can actually achieve millions of transactions per second.
NEM is not bad. StockBet looks promising.
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Corruption is part of the culture of many countries. Therefore, you should check the corruption ranking of countries: https://www.transparency.org/news/feature/corruption_perceptions_index_2016If the ICO is from a country with lots of corruption, then you know you're taking a higher risk. This is because the team probably has less of an issue with exaggerating, lying or cheating, because these things are more ingrained in their country's culture. |
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Corruption is part of the culture of many countries. Hence, I check the corruption ranking of countries: https://www.transparency.org/news/feature/corruption_perceptions_index_2016If the ICO is from a country with a high corruption ranking, then you know you're taking a higher risk. This is because the team probably has less of an issue with inaccuracies, exaggerating, lying or cheating, because these things are more ingrained in their country's culture. |
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I think the country where the team members grew up is a significant factor. Corruption is part of the culture of many countries. Hence, I check the corruption ranking of countries: https://www.transparency.org/news/feature/corruption_perceptions_index_2016If the ICO is from a country with a high corruption ranking, then you are taking a bigger risk. This is because the team probably has less of an issue with inaccuracies, exaggerating, lying or cheating, because these things are more ingrained in their country's culture. |
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zio: Why did you re-post the OP announcement?
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The first image (graphic?) did not appear at first. I had to refresh browser to get it to appear. Maybe the image is too big for bitcointalk to handle.
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