How to solve the ICO and shitcoins madness?

[novaprime]

I think before investing in an ICO project you have to thoroughly explore this project and who the developer is. If an ICO preliminary project does not have a clear origin then it is definitely shitcoin. If potential ICO projects will launch many campaigns to advertise their projects and will attract a lot of investor

[Pierre 2]

Actually there isnt ICO or shitcoin madness. Problem is that people invests too much money into lot of projects just to get huge profits.
This isn't healthy business. People should learn about crypto or they will be punished hard.

[YodaYoda]

Actually there isnt ICO or shitcoin madness. Problem is that people invests too much money into lot of projects just to get huge profits.
This isn't healthy business. People should learn about crypto or they will be punished hard.

I agree, to a certain extent.  ICO's is a way of this new economy. but many have pointed out that there are scamsters in the ICO arena, and that is also true. Scamsters is not to 'learn about crypto' but it's more a fundamental lack of due diligence and legal avenues in case they are scamsters.

My concern is that the scammy ICO's will cause issues with the valuation of the larger coins even, such as Bitcoin and ETH. The ICO's raise from small hoddlers, and then cash out = pricing collapse. When the price collapse then other investors looking for ICO's, will think they are getting a poor deal and thus stay on the sidelines until prices have been restablished.

When the IPO bubble blew up in the late 90's, it affected many companies, even some with very good and promising business ideas, and nobody could raise money at all, at any costs. I'm concerned about the overall industry, when legit, promising ICO's cant raise money and it cause the larger cryptos to collapse, we have a situation similar to that of the aftermath of the dot com's bubble blowing up - a large hangover that lasted years.

[Beparanf]

Actually there isnt ICO or shitcoin madness. Problem is that people invests too much money into lot of projects just to get huge profits.
This isn't healthy business. People should learn about crypto or they will be punished hard.

How come that the investment of the people become a problem? We are in the crypto at first place because we want a crypto currency and we hope for its success so that we can gain. So what is the problem on iCO madness? ICO is the new way of investment, ICO connects all the people in one goal of investment unlike traditional way of investments which has a lot of restrictions or barriers.

[johnsm79]

Like a previous user said. It feels a lot 1999 with .com crisis. But it all comes down to the user. The good thing is the correction currently made in the market. It is fixing in a way the ICO madness. Making it less attractive for people to enter such a boat. Some could view it as a sicking boat. But this infact maybe the way forward. To improve and fixate on the good things coming out of the blockchain.

[Mr Frog]

What's make me smile is the fact that a lot of people saying that ICOs are bad that people will loose their money... are people who don't care about the fact you will loose it all. They will laugh when that happen.
The reality is that at the moment they are jealous because you are doing X10 x 20 ... x100 and they are not in the game because they are scared.

[xiaohang07]

I think most new altcoins which are still using a Qt-wallet (blackcoin version) will be dead. They are just too scammy and without potential real world applications.

[dieorlive]

I think most new altcoins which are still using a Qt-wallet (blackcoin version) will be dead. They are just too scammy and without potential real world applications.

Yes, wallet takes up too much disk space, a lot of people who hold many coins don't like this.

[infer]

I think before investing in an ICO project you have to thoroughly explore this project and who the developer is. If an ICO preliminary project does not have a clear origin then it is definitely shitcoin. If potential ICO projects will launch many campaigns to advertise their projects and will attract a lot of investor

Hard to know, there are many fake identities which are made to trick people and steal others money. There are too many ICOs and most of them are scammers. Last year, we have faced with many HYIP and this year, we have to face with ICO

[Pab]

95% of alts are scams or hype,very often people are aware.thay simply buying hype,buy lowc sell high,ico's few of ocos are worth some money.Other will be like alts,pumped dumped.Look stocks,forex,planty of shit,but pp are buying selling.Cest la vie

[dissident]

People were asking this question in 2014 when there was not even 100 total altcoins on coinmarketcap.  In short, the free market will price the coins accordingly. There's nothing stopping people from investing in ICOs if they want to gamble on quick profits.

With the bubble having burst, I think you'll find ICO demand is going to plummet, just like IPO demand plummets when the stock market declines.

[danherbias07]

I don't think 95% of the altcoins will die off, not even close. If you look around, almost all the new coins and ICOs in the market have a very unique use or at least differ from each other in multiple ways so you can't completely deem them useless before they're actually put to test. I agree with your point that some altcoins are being dumped on the newcomers but as a newcomer, its your responsibility to do some research before you invest in anything.

I get what you're saying but newcomers are being sold lies which they believe in because the shills are everywhere. They create websites, twitter and yt account, share fake articles and everything possible, just to convince them. From their perspective, it's not that easy as "do some research before you invest in anything" because in that research they will find exactly these "traps" that seems real to them.

We can use our own way of preventing that.
Even if it is just only here we can save some before they got directed to a wrong choice of coin.
Look, if they are here and they are wise newbies they would read first before getting theirself into trouble.
All we can do is warn them for a possibility of a scam coin.

[Silberman]

There are so many coins, over 95% of them will be dead and will never EVER have any real usage. I see people shilling shitcoins on twitter, telegram, slack, etc. and all that so they can later dump on people that are new to the crypto and fall for this. It's setting a very bad image for newcomers and taking away money that could be invested in the growth of real coins with potential and future. If you say something or try to warn someone, you are called a troll or FUD spreading because everyone in crypto right now thinks that they will get rich quickly on some coin that will be dead sooner or later.

ICOs... same story, I don't even want to start with this... Why are people so dumb and how to prevent this?

Impossible, this is a free market and this is what the market wants, you may disagree with it but that is just the way it is, but if you are so sure of your predictions then take advantage of it, invest in the coins that for you are worth in the long term and get rich with them, since at some point a lot of money is going to come to those projects because of their utility.

[paramind22]

I think most new altcoins which are still using a Qt-wallet (blackcoin version) will be dead. They are just too scammy and without potential real world applications.

These wallets often do POS earnings which are a great way to have an investment grow.

[paramind22]

There are so many coins, over 95% of them will be dead and will never EVER have any real usage. I see people shilling shitcoins on twitter, telegram, slack, etc. and all that so they can later dump on people that are new to the crypto and fall for this. It's setting a very bad image for newcomers and taking away money that could be invested in the growth of real coins with potential and future. If you say something or try to warn someone, you are called a troll or FUD spreading because everyone in crypto right now thinks that they will get rich quickly on some coin that will be dead sooner or later.

ICOs... same story, I don't even want to start with this... Why are people so dumb and how to prevent this?

It may be all this new money coming in is  "stupid money" -- like the money that came in with the Dotcom bubble, but the cryptomarket before it, like say up to about 3 months ago, was smart money and the market was doing great.  

The problem is that this stupid money is reflecting on the good coins, and a lack of trust may be building with some people.  This is a bad thing.
How to stop it?  Just stick with the coins that grew from the ground up.

[Spoetnik]

In a way they are not falling for anything..
They are seeing that if they play along they can probably make some money.
Few people are getting duped.
They know.

Which transforms all of crypto into a scam.

That is what it means when people create hollow fake tokens knowingly for no other purpose then to pump & dump and leave for dead.. with the ultimate loser being the sucker who believes in the "altcoin future"

How else do profits come ?
From bag holders..

So it is all fraud.
And what will stop it ?
Nothing short of mass heavy regulations stifling the process.

[Celebrity]

There are so many coins, over 95% of them will be dead and will never EVER have any real usage. I see people shilling shitcoins on twitter, telegram, slack, etc. and all that so they can later dump on people that are new to the crypto and fall for this. It's setting a very bad image for newcomers and taking away money that could be invested in the growth of real coins with potential and future. If you say something or try to warn someone, you are called a troll or FUD spreading because everyone in crypto right now thinks that they will get rich quickly on some coin that will be dead sooner or later.

ICOs... same story, I don't even want to start with this... Why are people so dumb and how to prevent this?

It's easy, by educating people and crowds. I know some people investing in a unknown ICO thousands of dollars and these people don't know anything about crypto and bitcoin/altcoin. The only reason for them to multiply their money by investing in projects. At the end, they get mad since they lost money.

[jeffthebaker]

The way to sift through all the garbage and find something you truly like is to ask yourself, what does this coin solve? If the coin in contention solves some problem you think is important, and it has the devs to carry it out, and the community to support it, it's worth your support, too.

[xugzr272186]

it's dangerous that a lots of guys even never see the whitepaper.
and just want to got a big reward by this speculation!

[e4f4]

People who buy it will lost hes money and madness will be stoped

The best pic yet. Congrats.