How to solve the ICO and shitcoins madness?

[~Spawn~]

Since there is no regulation, people will have to learn the hard way. That's how the free market works... it all depends on how much people are willing to educate themselves.

[Prodigan786]

I think we have to research properly about ICO i dont think ICO is happening without  any proper solution . every ICO giving solution using blockchain technologuy. we should also research on that based on existing technology . So we may not get into trap.

[lx001]

do you remember how many shitcoins were there at the end of 2013? they also had no purpose but yet they are still being traded. same thing will happen now. there will be new and new icos because people are still ready to pay, nobody cares about the coin specifics, everyone just wants to get some gains, cash out early before the dump and repeat

[Fatunad]

I believe bitcointalk should also take a step forward and introduce some internal reviews and rankings before listing all of these coins and ICOs here. For example, everyone that wanted to post ANN, should first apply with their project and get audited by an internal team which would do at least basic checks and eliminate the obvious scammers.

It's almost impossible to keep up with all of the new posts like this.

Absolutely not.

In no way should bitcointalk limit free speech in that way.  It's a forum, not a gateway.

Correct, this is a forum and anyone could really freely post on what they do like. We cant do anything about those scammers and the best thing to do here we should really be careful on selecting or investing either on ICO or shitcoins. Anyone could announce their new coin and do crowdfunding and theres no way we cant stop them. Theres no solution on this one instead of gaining hatred better to ride with the flow just be sure to be wise enough.

[EthereumAdvocate]

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.

Agree, there will be some that you will need to be careful of but it's different from the early days of bitcoin, it was all about bitcoin then and the shitcoins came by default like an unwanted appendage, now it is all about the blockchains, the ventures they are creating/problems attempting to solve and lastly the coins/tokens financing them.  Exempting bitcoin, I am a lot more confident investing in this space than I was a few years ago.

[Botnake]

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?

Are you sure about that? So you are saying that ICO investors are stupid, nah... You should be reading man, you have your opinion and
I have to respect it but ICOs nowadays are not the ICOs in the past, I am sure most of the ICOs are legitimate and has a long term purpose.

[asepsetiawan1990]

It is true, people who are new to bitcoin for now more negative views. Especially about the fluctuations. But on the other hand I see there are positive things when its use. Ico is enough to give a big confusion to someone who knows bitcoin. According to my suggestion is. There must be a rule or institution that really set about ico. So as to minimize the negative side of the activity.

[jaberwock]

Market is free. People invest in whatever they want and they take the consequences. The market will correct itself, either because the bad investors will run out of money or run away.

If many people make bad decision then the market as a whole may suffer, but things will be corrected with time.

[HeRetiK]

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?

Warn people that are willing to listen and have everyone else learn it the hard way. It's a free, unregulated market after all and IMO it should stay that way. Most people know its pump and dump anyway by now, so they just play the game... which is fine with me, as long as they know what they're getting into.

The market will (and is) correcting itself. People will learn their lessons. Most alts and ICOs will continue trading in low levels near obscurity. Bitcoin will move on. And some time in the future we'll have the very same hype cycle all over again...

[fistfullofbtc]

it is no different to all the coins that came out in 2013-2014. it is just they have become more slick, and if you are connected you get mentioned in the right places.

it is a gold rush and the only winners will be the devs and a few traders, the rest might make a few quid, but most will lose something.

in the tech world any start up valued at 200-500 million would seriously have to make some big moves before the investment were pulled.

i wonder if satoshi comes out of retirement to say something about it.

[speaktome]

Market is free. People invest in whatever they want and they take the consequences. The market will correct itself, either because the bad investors will run out of money or run away.

If many then the market as a whole may suffer, but things will be corrected with time.

Unfortunately there is no way to know for sure,or fully about whether a thing that is announced corresponds to the true purpose of the announcer in many cases it is not so and happens what you say,people make bad decision and realize too late,but what happens is that those who announce things that are not true damage the image of those who are true,and perhaps remember what is always mentioned: do not put all eggs in one basket.

[Spoetnik]

do you remember how many shitcoins were there at the end of 2013? they also had no purpose but yet they are still being traded. same thing will happen now. there will be new and new icos because people are still ready to pay, nobody cares about the coin specifics, everyone just wants to get some gains, cash out early before the dump and repeat

Bull fucking shit.. most are delisted and long gone noob.
For example..
I had to fight like crazy over HYP and BlockNET.. and sure enough Polo delisted both.
And they were popular too.. BlockNET being the most popular coin out for a brief period.

Doge was teetering on getting delisted it was so ignored.

hey maybe try posting actual real honest info.. or STFU ?

[Silberman]

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.

Exactly, this is the most important aspect and one many forget, it does not matter if the website looks professional and if the customer service is great if the project does not solve anything then that project it is not worth your time and your money, there are only a handful of projects like that every year, if you decide to invest in them, you can make money, if you invest in terrible icos you will eventually lose your money.

[rdnkjdi]

 ;DOh wow I forgot about Hypecoin.  Yea rebranding after you buy the worthless truckcoin tokens for nothing and then changing to PoS and dunking on the noobs ... I hear blocknet is making a comeback.  Whatever happened to supernet ... Wasn't blocknet just a shitty ripoff supernet?

[Triffin]

Per the thread title ..

I don't think anyone can, and no one wants to ..

1) No barrier to entry
2) Open source software
3) Not enough competent dev(s) to support +800 currencies  
4) No such thing as "proprietary" features
5) No Regulation
6) Endless supply of "dumb money" to fleece

Easy, easy money for people who know their way around this space

Triff

[wenzuo]

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?

great profit interest new comer to this market, but soon the heartless market will teach the chives how from millionaires to beggars

[Spoetnik]

;DOh wow I forgot about Hypecoin.  Yea rebranding after you buy the worthless truckcoin tokens for nothing and then changing to PoS and dunking on the noobs ... I hear blocknet is making a comeback.  Whatever happened to supernet ... Wasn't blocknet just a shitty ripoff supernet?

Similar premise concept i think between BlockNET + Supernet.
..or was that SuperCoin that they posted here they wouldn't add ?
Hard to keep track..

And yeah it was a TruckCoin tale over of sorts..
I went through tons of shit over that one.
It is a key reason why i think Polo staff are stupid ass fucking noob scammers.
They let the guys spam about HYP 24/7 then scream buy buy buy then later they delisted it LOL
And guess who was pushing it ?
The Monero crew !
The very same guys who sit on Polo all year round bum buddies with staff.
I still have a ton of it logged where they kept banning me for "FUD" over that coin..
They let the whole chat box come at me trolling me with insults and when i said anything they jumped down my throat then said specifically "I deserve it"
Back then i told the mod guy he was full of shit to his fucking face and demanded an apology NOW !
He did too and i have it logged ahhahahaha  

They really truly are scammy as pieces of shit over at Polo.
Wondered why they added a pile of XMR markets years ago ? ya me too.. WTF ?
They say it's who you know LOL
In crypto it's about stroking each others scammer cocks for bucks.. real bucks !
All groups / little bands of scammy shit floggers..
Who get amnesia and forget about their years worth of shenanigans.

Topic ?
If i had it my way i vote.. "punch in the head"
But law is the answer.. we need half the clowns in crypto in jail.

I find it appalling that Martha Stewart was thrown in jail for Insider Trading
and half these chucklefuck frauds are STILL HERE scamming it up.



Oh and by the way.. some of you may get jail time too.
..got verified at an Exchanger fer teh ROI's ?
Well Google search the definition for AML law in the USA.
It specifically mentions "market Manipulation" and "Fraud"
Like the SEC investor fraud alert warning published way back in PDF form.

You idiots are too cocky 

[TheLuckyBastard]

I think we need an auditor that checks everything before an ICO. It would cost, but audited ICOs will gather much more money then the ones with some random team profiles and no real working product.

From what I see now very often non working projects that sound cool get much higher valuation then the ones that are real businesses with real profits.

[Casabrandy]

I think we need an auditor that checks everything before an ICO. It would cost, but audited ICOs will gather much more money then the ones with some random team profiles and no real working product.

From what I see now very often non working projects that sound cool get much higher valuation then the ones that are real businesses with real profits.

That's why we need to do more research before putting our investment, research the team,the backgrounds and the project intentions. It's quite hard to do now but better do it and find some ico that really suits your interest so you'll understand it.

[aoihs00]

ICO are not that bad as you are depicting here. They always have got good plan behind their project and growth of the ICO. Each of them are used to develop products and services which can be used by us. The funds raised are also invested into their coins to generate valued coins and later we ourselves can trade or exchange them onto different platforms. I see complete advantages in the use of ICO and the followed coins in the market. The 95% number is way too large. I guess there should be voting poll on this thread to know exact number of people who like and dislike this idea.