Too many ICO - new scam scheme?

[olubams]

I have just noticed that there are too many ICO around and most of the projects are similar to each other. As you can see, we both have monaco ICO and token card ICO. DO you think that it is worth to invest in ICO? I have a strong feeling that there are many people abusing the ICO in order to build a new kind of MLM scheme. People will lose their money once the coin get on some exchange.

Every new ICOs will come out as the next best thing to happen to the crypto-world but in all they are just another repetition of what has happened in the past. However, that is not to say some are breaking the norm of just created a coin at least there is one, sun contract which is all about exploiting solar energy, if the developers are serious then that one gets my attention. The bone of contention is for one to do adequate analysis of what he wants to out money into.

[igormuba]

Sadly there are indeed ICO scams, I am very worried, I have a very interesting project that was born in a hackaton and we have chosen an ICO as a crowdfunding method (and kind of a very fun way of raising money) but I am afraid that the scammers make ICOs lose reputation, such a shame...

[NetFreak199]

If you worried to loose your money then do no't invest in any ICO. many people investing in ICO just for profit porpuses and they know the risk before entering in any investment.

[creepyjas]

It is too hard nowadays to know if an ICO is legit or is just pure scam. These scam ICOs usually use legit means (legit website, legit anns and such) and then poof, the money you invested in the ICO is gone.

[ranreichman]

Hey all,
I'm not sure if this is the right place for this but the thread sounds relevant. If not, sorry in advance.

I’m Ran, the CEO of Snip. We’re a decentralized, user-generated news platform and are planning a crowdsale in September.  I've been following the conversations here in BitcoinTalk and would love to receive the community's thoughts on Snip. Our vision:

News is broken. A small group of corporations decide which information is worthy of print, promoting clickbait and biased articles, and people who create great content are rarely rewarded for their hard efforts. No wonder that trust in the media is at an all-time low.
Snip is a new type of news platform, decentralized and powered by the community. On Snip, anyone can write a news story about a topic of their choice and read news on the issues they care about. Contributors are rewarded with tokens according to the popularity of their posts and comments. A community-based news site, owned by the community, can become the top news site in the world and cover any subject - breaking news, finance, tech, entertainment, etc.
The content on the platform will be personalized for each user using an open-source newsfeed algorithm, and users will also be able to chose their own algorithm. Since people prefer reading short and concise stories, the default algorithm will incentivize short content.
At Snip we strongly believe that there shouldn’t be a single arbiter of the truth, meaning content will not be censored and will be stored in a decentralized manner. Users will choose their own trusted content filters, allowing them to ignore specific words or sources of content, but any legal content will be allowed to stay on the platform.

I'd be happy to send a draft of our whitepaper to whoever is interested.

[carriebee]

This is true too many ICO that are new and able to scam only. Though it is hard to raise or collect the funds but the reality is some are scam and just want to collect money from investors. So invest in ICO on what you can afford only.

[Renji Abarai]

It is too hard nowadays to know if an ICO is legit or is just pure scam. These scam ICOs usually use legit means (legit website, legit anns and such) and then poof, the money you invested in the ICO is gone.

We will know after the ICO if the project materializes and  the business plan are really gaining income for its token share holders. There are many projects are being on ICO right now,mostly are on  Eth contract. They have a good road map and team. We are hoping that all this will be profitable in the making.

[bearex]

Might be. Some ICOs are more promising than others, that is for sure. There also exist scammy ICOs, but i think they don't even gather as much interest as the real ones. You can quickly determine that for yourself if you check the thread on Bitcointalk for example, how many pages are there, how is the OP made, the website of the coin, people commenting etc.

But there are many ICOs out there because people have new ideas on this new platform - blockchain, and they try to implement it!

[wnfmzm74]

I think hold the ETH and refuse those ICO should have a better profit
too much project ,I don't know choose which
just refuse maybe the current choose.

[OliynyK]

If you worried to loose your money then do no't invest in any ICO. many people investing in ICO just for profit porpuses and they know the risk before entering in any investment.

That is not a fair solution,we as a community has to identify the scammers and bring them out before running away with the money,we have more people who have the technical knowledge to understand whether a certain ICO is a scam or not,everyone wants their money's worth and no one wants to send their coins to a scammer.

[rumex]

There are bound to be scams among them all. That is why most of us concentrate on Bounties and giveaways. People have to be careful in other not to be swindle of their hard earned money.

[CjMapope]

OP you are 100% right, and im happy as a "newer" member you realize this, i hope EVERYONE does.

Startups are legit, but projects like LBRY show us they DONT NEED too take millions of our money to do this stuff.
I implore you all to read back one of the forums oldest ICO haters, Spotenik's posts, this guy has been screaming how all ICOs are scams for YEARS, and he's kinda right. 
Sure, you can make money, but is that how you want to make your fortune? piggybacking off scams to flip a few dollars?
Start mining, trading, freelancing, ICOs are the new NIgerian Prince scams, turning your coins into digital gold, if ONLY YOU SEND FIRST

[vlom]

read this:
A New Way To Raise Money: The Initial Coin Offering.
https://www.forbes.com/forbes/welcome/?toURL=https://www.forbes.com/sites/jonathanchester/2017/06/12/a-new-way-to-raise-money-the-initial-coin-offering/2/&refURL=https://t.co/gI5vpoApvI&referrer=https://t.co/gI5vpoApvI#1c1f709f396c

or this:
I was wrong about Ethereum
https://medium.com/@WhalePanda/i-was-wrong-about-ethereum-804c9a906d36