What is Success factor in ICO coin and not ICO coin?

[Garudacoin]

Hello all

Sorry if this is in wrong board. Before we launch my new coin, we want to know success factor for a coin based on your ideas. We have a background in IT/Programming and Business Management, and we want to grow community for our coin

If coin is ICO
1. Escrow is a must
2. Clear roadmap -> what kind of roadmap if we want to gain community
3. Whitepaper
4. ??
5. ??
6. ??

If coin is not an ICO
1. No premine, or 1-2% premine for bounty and development
2. Fair Distribution
3. Clear roadmap -> what kind of roadmap if i want to gain community
4. ??
5. ??
6. ??


I dont think we will release our coin as ICO because i know everyone worry about scam, but here i need your opinion about success factor ICO and not ICO coin.


P.s : In our opinion succes ICO is not gain thousand BTC from people, it's about development progress using BTC from people.

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[Fortify]

How about having a new idea or way to implement a technology?

99.99% of "altcoins" have nothing original or imaginative in their structure, don't deserve any credit and are basically a fraud to make to creator money. If you have to ask this question, your clone coin will probably fall into this category. You should make your own identity and any people involved public, so when it does eventually fail - people know how to find their money.

[Velkro]

You should make your own identity and any people involved public, so when it does eventually fail - people know how to find their money.

:D this is good advice but i think author won't listen to that.
Risk factor is huge here, thats why Satoshi is anonymous, because there is too much things to go wrong. One mistake in code of your coin, could lead to disaster and people will loose money. Then if author i known, they will pursuit you for money.

anyway.. Good luck, you will need it.

[CryptoVzla]

you also have think about the "Target". Why should be people interested in your coin? who should be this people? students? seniors? you need to answer that kind of questions first.

[European Central Bank]

an ico launch produces an inbuilt community. it also produces suspicion and profiteering.

your project might be awesome but it might also be squashed flat at launch.

an honest launch will be a slower burn but might produce better results in the long run.

also I think it's only a matter of time before icos are investigated for breaking securities laws.

depends on whether you wanna take the money and run.

[ArdiPrabowo]

the first must perfect in youre design announcement thread
is good announcement thread, good team dev can interest investor to buy youre coin, and then must use escrow

[Ayers]

ico are not good regardless it doesn't matter what parameters you change, keeping low premine help if your project is good not an ico scam, what people want tnowadays is good features and algo that are not minable by asic, begin to look into this first then you can tweak normal parameters well like block reward and block time which are important and often overlooked

[jeffthebaker]

In my opinion, what should determine if a coin is an ICO coin or not is asset vs. currency. Assets should be sold, currencies should be mined. With that being said, if your project is a scam, you should definitely implement it as an ICO scamcoin.

[Kray]

You need transparancy in your project, sometime we dont need high end technology but we need simple thing but very useful for us (this is rare). But if you can implement new technology it will gain more users. wish you the best for your project

[TrueAnon]

Meh, WBB will show all how an alt can succeed soooooooooooooooooooooooooooooooooooooooooooooooooooooonnnn!

[jpoker272727]

It should be a transparent project, transparent team behind the ICO coin and the team behind should be someone who is known in the crypto world and not just some "new" nicknames.

Because there are lots of new coins that are being "created" every day it's hard to see a coin that is really innovative and that its features are not on the other coins.

I like the coin that have a large team and have already investors because this is how to begin firstly being presented in public.

[iamnotback]

ICOs are illegal. It quacks like an investment security then the Supreme Court said it is a duck under the Howey test.

Past ICO performance is not relevant anymore. Ethereum smart contracts have lowered the marginal cost of producing an ICO so much that we will end up with an oversupply of ICOs and no aftermarket remaining to buy them...

Re: Stay away from ICO

Yes, stay away so i can get more of the ICO for myself

That was a good attitude before when there were only a few ICOs. Now we have a new ICO every week or day.

Instead of there being any money to make prices go up in the future, all our BTC will be in the pockets of ICO developers. An ICO graveyard is coming where 100s of ICOs are buried. You are destroying Dash's speculator market. Soon there won't be any more dumb speculators.

There is no way all these 100s of ICOs are all going to go up in price.

Yeah you do that. Please put all your BTC into ICOs because we need smart people like you to lose all your BTC, so our ecosystem can get dumber.

Added the following. Note there is one counter-argument I can make to myself, which is if this proliferation of ICOs can bring more new money into our ecosystem, then my fear of losing the aftermarket may be incorrect.

Regarding the upthread post wherein I alleged that Ethereum can't scale (and tangentially I also alleged smart contracts on a Turing-complete blockchain are another DAO attack waiting to happen), I was asked to provide some more details.

(Additionally I have recently explained that the 10s (coming to 100s?) of ICOs being launched every year now because of this Ethereum smart contract nonsense which enables rapid prototyping of 1000s of hair-brained ideas that will probably never achieve any serious adoption, because again Ethereum can't scale and another smart contract attack means all smart contracts become untrustable, means we likely have a coming ICO graveyard where our ecosystem has died. Thanks to greedy developers who want to cash out after making a fancy presentation and thus don't develop first and launch without an ICO and really don't have much incentive to develop anything at all after they raise $millions to party with, especially young guys who have a lot of energy for conferences, dinners, parties, fancy hotels, etc.. What happened to my generation of startups where we developed them from our bedroom while living at our parents' hose.

The low marginal cost of preparing the snazzy website, whitepaper and perhaps even a barely functional smart contract demo is minimal, perhaps < $5000 or even less. Yet these ICOs can easily raise 100s or 1000s of BTC. So the supply of ICOs rises to meet the demand from gullible speculators who all "want to buy earlier than each other" so they all end up buying ICOs, thus none of them buy earlier than each other and the ICO developers walk away with the Bitcoins and the speculators will be left penniless in the coming ICO oversupply graveyard because all the demand will have been transferred to ICO developers who don't buy in the aftermarket.)

Re: HumanIQ has a technically flawed design?

I just dont think a de-centralized system is capable of vetting people for loans and i'm nearly positive it isnt any good at prosecuting those who dont repay them.

You are thinking of WeTrust, as HumanIQ has nothing to do with loans.

There are too many ICOs. Nobody can keep track of them in their mind. That is why these ICOs are all going to fail and end up in an ICO oversupply graveyard with no buyers in the aftermarket. We are being saturated with too many ICOs. None of them can get enough mindshare. Our minds are overloaded.

Besides The Founder, What is Wrong With Qtum?

Qtum does a few things right. The developers designed a competent website and wrote two interesting whitepapers. Digging a bit deeper, reveals some troubling issues.

With legit ICOs like Chronobank dumping, what more with an ICO that's shrouded with shady players.

Speculators are attempting to know what is impossible to know too early. And thus they are being taken in by 100s of ICOs and going to end up in an ICO graveyard.

It used to be that speculators could perhaps gauge which ICOs had a superior level of hype and marketing, so they could speculate not on actuated creative technological achievement, but on the ICO being the actual launch of the manipulation of the minds of speculators (aka "mining the speculators"). But now we are entering a new phase where there will be an an oversupply (market saturation) of ICOs which have copied that "the ICO is the launch of the reality distortion field" paradigm. Ethereum is spawning offspring (i.e. smart contract) copycats of its own reality distortion field business model, which may cannabalize ETH itself.

[fikihafana]

Maybe your ico is not scam, but you can be fail. I learned from RISE, all team identity were published and as we know there are problems in rise

Several issue

• Development progress
• Business support
• Communication

Development progress
Rise main issue is development progress, they are not prove their progress in tech development or in business development. Do not give us progress using screenshots of application, or based on image, this is happened with dbic. Stick to your goal and give us good news

Business support
They do not provide buy support in exchange or anything. They are not created business ecosystem for their project

Communication
You need to build relationship with ico member, partner and other related with your business. BUT do not provide only news, chat, discussion or communication, your member or follower need progress. You can see in rise ann, rise community manager is very active give news and report, but with low progress. btw i like rise community manager attitude.

[iamnotback]

Maybe your ico is not [a] scam, but you can be fail [anyway]. I learned from RISE

How many $millions did it RISE raise in the ICO? (wasn't it $6 million) What was their cost? How much does it cost to make a website, a whitepaper, and a lot of bullshit promises.[1]

How can you say it was not a scam?

You've apparently been scammed. Now you are most likely a bagholder. That is unless it can RISE again (and not just in your pants).

Stupid ideological BS name has nothing to do with any serious business model. "The people will RISE up and the world will leave in peace and overthrow the overlords" (I'm feeling a RISE from that, because my gf just walked naked from the shower)

Disclaimer: to all RISE bagholderssupporters and those in the walking dead project, I insincerely apologize in advance if you do actually end up reaping what you sowhaving a successful outcome.


[1] $1000 paid to some Russian contractors who burn wood to heat their apartment in Siberia? I can't find that video of Sasha @ Waves in his tiny, dingy Russian apartment before the ICO. The point being that there are a lot of very affordable website creators in Africa who will build you a website for $100.

[VanDeinsberg12]

.

If coin is ICO
1. Escrow is a must
2. Depend on your innovation.
3. Whitepaper
4. No anonymous DEV
5. No copycats from the other project.
6. With your own code (not just copy pasting from the other github code

If coin is not an ICO
1. No premine, or 1-2% premine for bounty and development
2. Fair Distribution
3. Depend on your innovation.
4. No anonymous DEV
5. No copycats from the other project.
6. With your own code (not just copy pasting from the other github code)


I was already filling all of the blank page. so you can take a decision about it.

[iamnotback]

If coin is not an ICO
1. No premine, or 1-2% premine for bounty and development
2. Fair Distribution

So don't invest in Bitcoin even when it was $10 in 2013, because Satoshi has a million (5% of all tokens that will ever be mined... well ~10% as of 2013).

Glad @rpietila followed your advice and bought $100,000 of BTC in 2013 and is now worth more than $10 million.

[sunsilk]

You also need to answer the question why there's a need for you to develop that coin? What's the use of it.

Since there are a lot of coins out there in the market, what makes your coin unique and where people can use it aside from trading.

Just make sure that everything will be transparent.

[iamnotback]

Re: WeTrust vs Edgeless

They have different idea different goals so they can't fail.

Oh really. Guaranteed eh?

63% of all new businesses in IT fail within 4 years. And that statistic is not for hair-brained, pie-in-the-sky ideas with a website and a whitepaper generating $millions for some Russian young guys to live the high life at hotels, conferences, parties, important meetings on yachts in the Baltic Sea, etc.. Even for venture capitalist funded (not pimple-face milliBTC speculators) it is 92% failure rate:

The report analyzed 3,200 high growth web/mobile startups.

Within 3 years, 92% of startups failed. Of those who failed 74%, failed due to premature scaling.

...

As far as I know, tech. startups have highest rate of failure among all industries mainly due to number of uncertainties that come with launching something new/innovative to the market.

I guess you mean they changed the bullshit so that people won't be able to say for sure that they will fail.

ICO graveyard coming...

Edgeless has collected 50k ETH on first few hours of the ICO,So the start is a success.

Lets see about Wetrust tomorrow,how do they start off.

Do you just enjoy repeating the same mistake over and over again?

I remember Inchain was the first attempt in Insurance platform for crypto,which failed miserably and I hope Wetrust does not fall in the same level

I was one of the investors in Inchain

So you bought Ethereum ICO and made a lot of money and you are still searching for the next big one?

But Ethereum made it back when it didn't have competition from 100s of ICO ideas. Ethereum succeeded because the goal was never to actually produce something that works, just to produce an illusion that it works. So after speculators throw their money away down 100 more rat holes, then a few more DAO attacks on Ethereum smart contracts and it will all collapse back to dust while the sellers of ICOs and the attackers have walked away with all the BTC.

[phytosaw22]

With all these arbitrary rules you can going to miss the BLACK SWANS. Because you are going off a checklist, the best projects will not fit your criteria and then you will be crying in the corner when they GO TO THE MOON. You need to have a holistic view of the potential of the technology and/or market.

[iamnotback]

you can going to miss the BLACK SWANS

By definition, 99.9% of everyone will miss the BLACK SWANS.

black swan
ˌblak ˈswän/
noun
2.
an unpredictable or unforeseen event, typically one with extreme consequences.
"geopolitical black swan events, such as the Arab Spring and the Japanese earthquake, have further complicated the market dynamics"

Thus if everyone is going to miss them, then why are they giving their BTC away to developers to party with?