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You're right.
Gambling is one of the best applications for crypto.
Cryptos will disrupt and probably eventually replace the existing gambling operators.
For many projects, they are in search of a problem for their solution.
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Hello, I'm new to this crypto world. I heard about ICO (Initial-Coin Offering) but I dont deeply understand what ICO is, so here i want to ask you about :
1. What is the actual purpose of ICO?
2. Is investing in ICOs profitable? or sometime could make us lose our money?
3. I understand there are always scam attempts in online network, so how to know know if the project is scam or not?
maybe i will ask more later ..
1. To fund development of new software to enable a new cryptocurrency-based application. 2. Yes and No. It depends on whether the project gets built, has application and whether you can handle volatility. If you cannot handle volatility, you will lose money. 3. More often, the projects exaggerate, lie about their credentials or try to put something on the blockchain that doesn't make sense or is a poor fit. The blockchain or crypto are not suited for EVERYTHING in the world. There's even a Jesus Coin. Also, always make sure that the project can develop software. The only way to confirm this is if they already have built some software for you to use. |
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"Never invest in a business that you do not understand" -- Warren Buffett
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Looking for ICO ready to moon!  That P/E Ratio ... LOL. You're right. That P/E ratio is going to the moon. |
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Everyone is trying to put anything and everything onto a blockchain. Most of them are trying to squeeze square pegs into round holes.
There are a few applications that are well suited for cryptos:
* transmitting value (currency)
* store of value (which Bitcoin is)
* smart contracts (Ethereum)
* remittance
* gambling
Not all applications are suited for cryptos.
One ICO is trying to match up locals with travelers to enhance travel experience. No idea why a crypto is needed here.
Reading the white paper will help you discern if the project is trying to squeeze a square peg into a round hole.
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I am seeing a lot of new ICO's.. even Jesus coin (omg thats an insult)
What do you think?
Everyone is trying to put anything and everything onto a blockchain. Most of them are trying to squeeze square pegs into round holes. There are a few applications that are well suited for cryptos: * currency * store of value (which Bitcoin is) * smart contracts * remittance * gambling * gaming Not all applications are suited for cryptos. One ICO is trying to match up locals with travelers to enhance travel experience. No idea why a crypto is needed here. |
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Make sure that they have software that you can use, to verify its quality and usefulness.
This is the only to confirm that the team can develop software.
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I think StockBet hits most of your criteria.
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ANNOUNCEMENT:
We just added the Make A Bet Bounty Campaign to the announcement on page 1 of this thread.
Check it out.
Make a Bet on StockBet.com, tell others to take on your bet, have fun and get a bounty.
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Reminder to those who are participating in the Facebook campaign: Please submit your reports. Thanks.
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Ensure that they are solving a problem or will disrupt an existing business/industry.
Ensure that they can develop software, by enabling you to run or use software that they've already built.
Building software takes much more skill, time and work than any other aspect on the ICO.
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What's amazing is the difference in viewers.
These crypto videos are about a valuable topic. They get a few thousand views each.
Then there are the Spiderman and Frozen Elsa videos, which get multiple million views each.
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If any ICO project claims that their token has value or will go up in value, then they are in serious risk of being deemed a security by regulators. If this happens, then everyone loses, including the buyers of the tokens.
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Not only should you read the white paper, you should also confirm that the team can develop.
Just because they have titles like "CTO", "Developer", etc., it doesn't mean anything if they cannot prove that they have developed before. They should have software that you can touch, feel and smell and confirm that they can build something.
It's surprising how many projects cannot prove this.
Writing thousands of lines of code takes much more skill, work and time than to make a nice looking video.
yes my mind set is not looking the team, many people can get the title about this but we need action from this. Members on most of the teams actually have no development experience, let alone being able to prove that they can develop software. |
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Coinfile raised more than that.
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When I am investing my hard earned money, I need to understand my investment asset completely before investing. I always read Whitepaper. You can easily see a difference between the Whitepaper of fake and real project. Sometimes the Whitepaper are way too tough to understand. In such cases I tend to avoid that project. The most important aspect of investing is to invest in something which you understand properly.
"Never invest in a business that you do not understand" -- Warren Buffett |
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There is a lot of talk of ICO scams. Has there been a study to show the percentage of ICOs that are scams? Is it 90% or 10%?
I would think that the majority of projects are bad ideas. Everyone is trying to put anything and everything onto a blockchain, including the kitchen sink. Most of them are trying to squeeze square pegs into round holes.
Crypto currencies are excellent for some applications, but not all.
Many of the project teams cannot prove that they can develop. They have fancy titles like "CTO", but they have no software that you can run.
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