Why Most ICO's are SCAM ?

[Grant Hero]

This picture that "all ICOs are scams" is a lot dangerous to the future of the technology. I truly believe that we are living in a transition time where all kinds of business are beeing migrated to the blockchain in a way we can benefit from the descentralized way of services. The technology has a lot to evolve yet, Ethereum, solidity, smart contracts...all of this still need so much to do, but if scammers kill this opportunity and take off the incentives of the real good projects all the community has a lot to loose. What we can do is research, and research, and a bit more of research. Invest not because of the speculation, but because we found that group of people that has a lot to add to this whole thing. With time will be always more difficult to be a scammer, I believe.

Maybe, in some points, you're right but this doesn't change the ico craziness. Let's have a look at the altcoin announcement forum and you'll see what I mean. This is just crazy to see 20+ new ico every day.

I agree with you.  It's really ridiculous to see all of these announcements with no website or product.  However, I have seen a trend of these companies having a hard time getting crowdfunded.  Some are barely meeting their min cap or not getting any support at all.  For example, TribeToken opened their ICO up yesterday and received 2 ETH their first day.  Looks like people are getting smarter with their investments as well.

[1714780062]

1714780062

[mmhaimhai]

There had been lots of successful ICO in the past and as we all know in this world scammers are all around taking advantage of everything that can benefit themselves. Since scammers know more people are attracted and making  investment on lots of ICOs so they use this opportunity as well to fool investors and run their money. We just need to be keen observer and make really good decision before entering any investment so we don't end up losing our money for scams.

[waynechong1995]

Agreed. A working prototype along with feasible idea, good team is what that matters.

A little more common sense and technical knowledge would be enough for anyone to determine whenever it was SCAM or not

[nilima56]

we are responsible for this circumstance..
we need to be aware when we invest our money.

[VeneVici]

Most ICOs I have seen are sold at a higher price than the coins or tokens will be sold for. How will you know you won't be scammed afterall? They want to take your money. Why? For development? Most big and real coins did not need to do a pre-sale to be able to develop and work for the coin. There are over 810 currencies at the moment, I think this thing has to stop... The creation of cryptocurrencies. Too many aren't good, because the community will be splitting up in too many coins.. but we cannot do anything to stop them. Scams are all around us and this should be an eye opener for all of us.

[vid200]

Let me share with you something about my view on ICOs. The biggest problem I see, what do I get out of it. Do I invest merely on greed and prediction something will rise? No. I want something in return for my coins, for my money. And there is where most of Icos fail. They offer a part of a project, they offer an investment, they offer a speculation. BUT what is behind the story. Most of it is crap and they rely on your greed. Can I see the Coin I just bought still valid in few years. Can I see this coin making some value in time? Can I see a ROI on my investment beside speculation. Can I see a demand for this coin in the future?

So at the end, you have to decide a few things. Entering an Ico or even Preico with a total hope for speculation and easy money, or entering with all the right reasons supporting your decision. We all se coins growing 100, 200 and even 300% in a short period of time, we all want to be on that train, but take a look et ETH or Bitcoin. They are still here, they made much more percentage in a long run and they are nowhere near the end. AND this my friends, what I seek for. Because with shitcoins the game is always against me. Did I catch the right moment to enter, did I catch the right exit strategy, Am I  in just for a short time, what do I get in return? People on crypto and Forex markets act the same. All looking for easy money and a quick way to make some. But at the end, a lot of them stop because they lost it all. Don't be that one. Make smart decisions and move with smart money. IF you don't trade smart, the odds are against you big time, you just don't realize it yet.

My 2C for starters…

[eddyhalim]

it is easy to know why most ICO now are just scam, first, ICO is just a way the project call for cryptos investment from investors, but the problem is that the cryptocurrency is anonymous, so it is easy to scam people without being traced, second, the amount of money that project raised too much that the more greedy the company becomes, and third, investors are too careless that they didn't do any research about the ICO that they about to invest.

[MartoValenti]

I cannot agree that all ICO's are scam. Yes, there are some, but most of the time it is obvious that the ICO is scam. Inrealistic project, limited team, the project is not profitable. You need just to read the whitepaper and you will see this in 10 min. There are other ICO's that are good and realisitc, also the team have what it takes to make the project. For example, for me, wepower is one of those ICO's.

[danipay]

many people who want to get big profits plus the incessant promotion they do with the lure of the ICO coin prices will soar 10 to 100 times the ICO price.
and plus newbie people who got tricked by the promotion of their Coin ICO SCAM.

[piepie.asean]

Any company or organization that has the ability to create a coin can also make capital calls through the ICO. This is also a weakness that many individuals, organizations take advantage of, making coin worthless, cheat investors to their equity and of course a coin worthless, this project will not To the end, these organizations will clean up the money of the private and high run away.

[mistemb]

Most but not all you gotta be selective on what ico you are going to invest cause a lot are just into the money ( ICO FUNDS ) so you gotta choose the team that are capable for long term gains / dependable

[sinkfish]

scammer will find their way on scamming money in any industry regardlessly.

[yapa ve yalniz]

I don't know but the ground is available for this. HSHC (hashcard) it was an example. 20k dollars was garbage. first time I got ripped off. they screwed me =(

[sherwinsamsung]

I invested in some ico during the 2017 and all of them have gone from rich to rugs.  funds gathered from ico gives the developer team big temptation to run away with the money, specially when the team members' identities are unknown to the public.  many projects are purposely built just to scam people.  tactics include giving huge discount for ico investors and promises of very high return.  others also come up with unrealistic visions and unreachable goals.

[justsimpleram]

I agree to you mate because based on my own experience one of the reason why the project that have ICO is a scam because of the people who behind it or the team of the project. Some of the ICO being extend because of the team want to more money then gone when they gather many funds to the investors then the coin will just a dump coin.

[felissss500@gmail.com]

ho ho)
quite often projects have a good base for work, team, product. Collect their given capital. pay the first some income and even start work (or imitation of work) and then collapse. perhaps because of one or two "black sheep" in the herd, and perhaps this is how it all just shows.
I am leading to this, that you should not equate all. among the obvious scam projects, good ones stand out as well as among the good ones - fraudulent ones

[coinplus]

Not most of the "scam" you think are actually scam. I have seen a talk in some of the discords of big "scam" coins that failed and mainly cost almost everyone their money, I was involved in some marketing and talked with higher ups of the coin and you can be certain that there are a lot of coins that came out to become a legit great coin and get funding and create the most beautiful coin out there even considering taking bitcoins seat.

However, those same coins when faced with challenges and hackers and all kinds of problems started to fail with the bear market on top of all this they started to realize they paid a lot of money as ICO funding whereas they now have a lot less money to achieve those promises, they pay their workers decent amount of it and usually left with nothing.

They try to do as much as they can but after certain amount of tries they give up which makes the coin go to worthlessness and called as scam even when they are not.

[erox]

Because people want to make easy money on gullible people and rest the rest of their lives. Izi

[Subchanallah]

The skeptical investor doesn't need to look far in order to see this in practice. In fact, the scam-filled nature of ICOs is so widely known that the SEC created a fake ICO just to warn people away from them.

[Benarand]

I think that at a minimum you need to understand and focus on the features of the project, how it differs from others, and not to jump into the first ICO on the long-battered topic... And yes, now there are a lot of banal "money collectors".