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I think these threads should be closed. Pump and dumps are illegal and just because it is difficult to enforce in crypto doesn't mean it is suddenly ok to take part in it.
Maybe people will learn their lessons at one point after they realize it is usually the group owner that really makes the big profits.
Yes! Agreed. Pump--and-dumps have gotten out of control and are a toxic presence in the crypto community. |
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Being addicted to forums can mean a lot to us because we are always educated everyday and we can connect with trending topics easily. Of course, that is aside from the possible business opportunities that we may encounter here. I registered here just last year and there is no more turning back.
That's right! Bitcointalk really lives up to the standard of what forums ought to be--people across the world all contributing their unique and diverse knowledge for the benefit of their forum brethren. It's always a good day to be a Bitcointalk addict. |
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lol this is hilarious
Of course you don't invest 380+ BTC on this. Are you crazy?
it is useful though.
I didn't mean that I'd invest 380 BTC. I personally don't see enough value to invest anything in CryptoPing. I was referring to the total amount others have invested in the project via the ICO. |
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As of today, over 2,000 altcoin enthusiasts have invested in CryptoPing, a so-called market-watching and -analysis bot. Regardless of what "analysis algorithms" they put in to this thing, the idea is that traders can sign up for BUY, BUY, BUY notifications when a coin is about to go up. Never miss another big pump! To me, this sure sounds like a self-fulfilling prophecy machine: Step 1 - Tell users to buy 'cause price will go up; Step 2 - Users buy; Step 3 - What do you know! The price goes up.
Am I missing something here? Other than the convenience of getting market notifications, it seems like this essentially what they're selling. A cheap scam. Is this really the right place to invest 380+ BTC??
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I've seen lately a lot of companies that made ICO's like some kind of public IPO's where people simply bought shares in the forms of tokens and participated in the profits and sometimes, depending on how much they owned, on the board of directors, so perhaps this might be one of the directions that crypto is moving towards, a new decentralized, crowdfunded Venture Capital Fund.
Yes, that's similar to what I was thinking. It'll be interesting to see how the VC scene will shift once people start trusting in cryptos for this kind of stuff. |
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I've noticed that the ICO space has really heated up the past few months. A lot of the discussion has been about specific ICO's, and I want to focus this thread on the larger effects this is having on the crypto space and business in general (competition, regulation, etc.). Here's my two cents: It seems like a lot of the recent ICO's are trying to cash in on a craze without providing anything new or unique to the world. They are creating excessive competition over unnecessary tokens. Does everyone realize the benefits, or lack thereof, of the technology they are investing in? Is it possible this is hindering cooperation across the crypto community? I do believe in the future there will be more pseudo-ICO's built on a hybrid platform, combining other internet services with cryptocurrencies. Crowdfunding is a great example of this, but also social networking in general. For instance, this thread considers the possibility of funding brick-and-mortar retail stores or restaurants with cryptos. How can we adapt ICO's in the future to meet these market needs? |
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I've noticed that the ICO space has really heated up the past few months. A lot of the discussion has been about specific ICO's, and I want to focus this thread on the larger effects this is having on the crypto space and business in general (competition, regulation, etc.). Here's my two cents: It seems like a lot of the recent ICO's are trying to cash in on a craze without providing anything new or unique to the world. They are creating excessive competition over unnecessary tokens. Does everyone realize the benefits, or lack thereof, of the technology they are investing in? Is it possible this is hindering cooperation across the crypto community? I do believe in the future there will be more pseudo-ICO's built on a hybrid platform, combining other internet services with cryptocurrencies. Crowdfunding is a great example of this, but also social networking in general. For instance, this thread considers the possibility of funding brick-and-mortar retail stores or restaurants with cryptos. How can we adapt ICO's in the future to meet these market needs? |
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Near where I live somebody did something simmilar to this.
His company (he produces shoes from leather, they are 100% handmade) didnīt work out because he had to pay the interest for the loan he needed for starting his company.
Ok so what does he do? He goes to various banks and asks for another loanto cover his first loan, but gets denied everywhere. Then he has an idea, how about crowdfunding? (pretty much where you are now, except you are starting up and not trying to rescue your business, and he did not know about cryptos, but that is not relevant now).
Ok so he found a lot of people who crowdfunded his business. All fine, is it ? First yes, all was fine (payed back loan from the bank, and crowdfunders didnīt take any interest), but when the banks and local authorities found out, they sued him for this because they thought it was forbidden to fund a company like this.
In the end, he won the case (i think it was 3 years) and now he has (as far as I know) payed back all investors and runs his business. You see for him it came to a good end, but it was laborious.
I think if you are brave enough to go throught this, you should prepare for the court, but if you win -> you are happy (running your business, hopefully), a bunch of other people will be because you creaded a precedent, and it will be easier for others to follow your example.
Seems like with an ICO, the OP is describing a scenario that might be even more suspicious to a local government. Crowdfunding is one thing, but crowdfunding with cryptos could be even more difficult legally until the idea gets more recognition; not because there's actually anything wrong with it, but because people just don't understand it yet. |
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