We are being used.

[Orrechorre]

So many of these ICOs are really outsiders who have no interest in crypto but just want to grab from the pool of the crypto community.

This is inevitable and i must disagree with you that we are not been used, the investors are not foolish either but consider some ico projects as a means of increasing their wealth.

[Spoetnik]

You are and you all know it.. but don't mind.

[MostHigh]

I understand your point and i agree with most of your assertions but a few. The fact that this bankers are always the predators and with their sophisticated economics and accounting they can be siphon many from the crypto pool and send it else where never to be returned i very true. We need to be really careful. This ICOs are becoming more and more useless and the opinion that investors stand to benefit from ICOs is no more true. Last month a placed some few dollars in two ICOs and the price of the tokens keep depreciating. I know i have lost some dough but would have been happy to loose it to the crypto world where i believe, putting in some effort can bring back this funds but here is the case my money is gone forever. 

[pearlmen]

So many of these ICOs are really outsiders who have no interest in crypto but just want to grab from the pool of the crypto community.

I look at many of them and they are just fucking bankers who have hired a crypto developer to make a grab for the crypto community's money. Here is a perfect example, why do they need the blockchain to start a hedge fund?


https://bitcointalk.org/index.php?topic=2003741.0


I'm not against all ICO's but most are just using us as a crypto community. Until we refuse to be ass raped by these banking interests we are destined to lose money to them. We need to invest in projects that are pure crypto and not get all wet pants about any project involving some big money interests. We all lose then, they win.


BTW play spot the crypto nerd among the bankers selling out in the pictures of the team!

I also understand your position and where you are currently coming from and quite a number of people have expressed the same point of view in the past. However, I personally don't bother about whether the person behind the scene is a banker or a pharmacist or a lawyer what matters is that, do they have a working model that would benefit me as an investor? If that is settled and I can evaluate the motive behind such, I think I don't have any issues in which the onus is on everyone putting his/her money into ICOs to sure of the due diligence.

[Knepala]

The NVO decentralized exchange is the only ICO/crowdsale project I have trusted so far.
I have a hard time feeling any real commitment from most other projects.

[VeneVici]

The problem is that people are learning the wrong meaning of cryptocurrencies. They're meant to be anonymous and a safe earnings storage and a currency which is decentralized. I think most new coins are scams or just some business plans for some people. I will stick with the old coins which were released before 1st of January 2016.

[mrfreezeh]

Did we ever need regulations to tell 10% premines to fuck off?

If icos want to use the crypto community we need to start telling them we want a better cut or they wont get pir money. Its too.late after ico is done you got to start making clear many of us will boycott their ico without a significant airdrop. People power isnt socalism its us the consumers showing our power in a free capitalist system.

Then do something to solve the issue instead of whining about it.

It's actually a very nice problem to solve, for obvious reasons.

In fact, not only ICO, the price of crypto in current are by the mentality of trader on market decisive increasing or decreasing. Most trader on market in present are speculator anh they not know the reason make the price of crypto they holding have flash crash or pumped very fast. Then, by FOMO they hurry buy/sell and panic => unwittingly control the price helps whales

[Spoetnik]

An ICO is in fact centralized.
And Ethereum the queen of ICO scam coins came out in 2014.
Who says they are suppose to be anon anyway ?

The point is.. "currency"
NOT centralized pointless ICO crowd funding scheme coins for profit.

You miss the argument here guys.
It's not about right or wrong or even crypto ideaology.
It's about intent.

What the fuck is it that is being created ?
A currency ?
And you are "investing" in one because you think it will be used as one eventually one day ?
Of course not.

That dream died in 2013.
Ever since schemes and gimmicks and alternative uses for Block-Chains took off.
Because the impatient greedy brat community realized the "currencies' were going nowhere fast.
They also had no way to improve on Bitcoin the currency.
So they simply gave up and shifted directions.

Removing mining from the process also eased the mass coin pump & dump process.
Now a guy can sit at home copy and paste Github.zip or what ever then keep 70 million tokens for himself as he premines ALL the coins with a calculator or cell phone etc.
THEN..
Sells the rest of them to you stupid greedy IMPATIENT idiot losers.

Fuck yeah.. of course that is bad.
Of course it's scammy.
Yeah this shit is retarded.
The only people on planet earth who don't see what i mean are the greedy morons trying to profit from it all.

No one is being fooled.
You would have to be pretty damn stupid to believe in all this crap.
Like the type of nitwit douche that bought a LEO Coin phone..



Don't forget to get your LEO MasterCard too  

[pumpmydump]

Can't help but love Spoetnik's posts on this forum

I mean it's true that most ICO tokens are fucking useless. The point of a cryptocurrency is to act as a decentralized mean of exchange, of value, of information. And what do we see popping up more and more everywhere? Centralized tokens that just act as unregulated shares in the company of whoever is selling the tokens. What the hell? This is not crypto this is crowdfunding gone crazy, just because you're selling tokens created on a blockchain doesn't mean you're doing crypto, you're just taking money from people and selling them the hope that their tokens will gain value in time if your company becomes successfull. That's just selling shares in an unregulated market. And sometimes it's not even shares and the token is doomed from the start, but people keep buying anyway

These bankers and rich fuckers don't even need your money to launch their company, they don't even need a crowdfund, but they do it to get your millions, billions, and then what the fuck do they care if their company doesn't build anything. You do care but they won't, they will have got what they wanted right from the beginning, more money, and if they can find a way to squeeze more out of you they will, but don't count on them to build something revolutionary when they already have all they cared about in the first place. They're selling you hope but the game is rigged against you, they never lose. The more money you give them the less incentive they have to build what they promised you. Cause they don't care about making the world a better place. They don't give a flying fuck about that.

[Spoetnik]

The point ?
All i should hope for is that you all support what you believe in.
The project should mean something.
Personally i think that should be adoption of a digital currency.

For example pushers of ANON coins piss me off..
But i respect their agenda even if i disagree.
At least they stand for something.. other than who cares fuck Bitcoin i just want profits types of people.
Like my own brother told me before.

You are all forgetting Allan Greenspan kept telling everyone we don't need regulations..
He claimed the scene would police it self.
The crashed the worlds economy and we hit a recession and had bail-outs.
Some economies collapsed.. scammers got rich.
And worse is just as predicted we are still being hit with more rapid inflation.

Greenspan admitted he was 100% wrong and implemented regulations.
Those bundled housing mortgage stocks were not even as bad as altcoins.
Altcoins are even more useless.

So did the investors come rushing in because they thought you know damn !
I'd LOVE to "invest" in mortgage financing for poor people who have no right having a mortgage !
Oh yeah.. that sounds like suuuuuuuuuuuuuuuuuuuuuuch a sensible investment.

mmhhmmmm LOL
Nope.. greed.
And it bit them in the ass hard.

[JNiks_ZLisa]

[Qunenin]

You're never really going to find a bunch of new people that come in based on their love of Bitcoin. Think about services from the past, like for example PayPal. We were running three or four different websites at the time, and we were doing a lot with technology, and myself my partner thought that PayPal was absolutely beautiful new idea and we played with it for like the entire first night when we ran into it. But that's us, and that's the same thing we did was Bitcoin when we ran into it. We're not going to get new customers we're not going to get new clients, and we're not going to get new users of Bitcoin, based on the fact that it's a cool crypto thing.

[jzale]

If that is what you thought of the ICO's then logically, bounty campaign participants are on the same line. Anyway I see it as a win-win situation. They get what they want and we get what we want.

[Prodigan786]

It was happened with recent mobile application boom there was lots of startup happened for attracting investors and closed in short time by showing loss here also crypto world same thing happening lots of techies and blockchain developers being used by greedy people.

[Justaguy2]

A lot of good comments and a valid concern. Regulations are made in history to prevent the inevitable. Regulations are things we don't like and there is the paradox. Maybe there should be a rating system but ratings get tampered with look at what reddit the "free speech forum" has become. Someone here spoke about smart contracts, now there is a thing. Maybe new alts should hold the money and work with voting structure, or there should be a maximum buy in. Anyway i don't know enough to be giving to much tips so i leave that up to you guys. However there should be rules made by some people on this forum, and these rules should get some surtain value. For instance pure hypothetically we get to the point where we find an alt should have:

* no premine. *1 point
* centralised.  *1 point
* Max buy in.  *1 point
*...   
*...

So rules have been made and i want to make an ALT coin that i called FRAUD

I make the whitepaper and post it on this forum so you guys can buy into my FRAUD, i have to include the pointsystem cause you guys keep on posting that shit so i add the vallue of 4/20 to the page.
Now nobody want's to buy my FRAUD :-(

[posternat]

You're never really going to find a bunch of new people that come in based on their love of Bitcoin. Think about services from the past, like for example PayPal. We were running three or four different websites at the time, and we were doing a lot with technology, and myself my partner thought that PayPal was absolutely beautiful new idea and we played with it for like the entire first night when we ran into it. But that's us, and that's the same thing we did was Bitcoin when we ran into it. We're not going to get new customers we're not going to get new clients, and we're not going to get new users of Bitcoin, based on the fact that it's a cool crypto thing.

PayPal did get their first thousand customers based on the fact that it was a fun thing to play with. They got their first down customers based on the fact that they feel the need in the business industry and gave online business is the ability to quickly processed payments without getting involved with the automated Clearing Houses. So yes, the cryptocurrency market and the cryptocurrency technology it's going to be used and abused by a variety of different people for a variety of different but that's actually a good thing it shows that we are supplying a service or product that is designed for people outside of our interest group

[pigheadbig]

I know that and I dont give a damn! I use those ICOs to increase my BTC.

Funny how everyone who gambles with ICOs claims they're making profits. Who's losing then?

A lot of people, probably the new ICO participants, think their ICO investment will be a great success since they can there is a bright future. Acutally, only a few people will be lucky since these project will not get any paybcak form the users since there will be a long time to give users some useful products or services. So, two points:
1) ICO is a high risk high payback investment, do not forget the high risk;
2) ICO should be a long term investment, please be patient.

[Red_Sanford]

Yep, stay away from ICO's. Way too much money being thrown at these that have no product. Many businesses fail in the real world and a higher percentage in the tech field. The blockchain field will be even worst.

But here is one that you might not want to miss

Dentacoin   1ETH = 8 million Dentacoins

Ask your dentist to start taking Dentacoin for payment

/s

[taxmanmt5]

Yep, stay away from ICO's. Way too much money being thrown at these that have no product. Many businesses fail in the real world and a higher percentage in the tech field. The blockchain field will be even worst.

But here is one that you might not want to miss

Dentacoin   1ETH = 8 million Dentacoins

Ask your dentist to start taking Dentacoin for payment

/s

It's like one of those first video games. Where the kids playing on the TV and suddenly the parents got involved. We want you interest groups, we want new business models, and we want variety to come join for two reasons. The first is obvious, the more people using Bitcoin the more money for all of us. But the second reason, is that it also gives us new material, new questions, ending ideas that we can build a future technology on.

[mrayazgul]

If we stay isolated in our own little group. Then we're always going to be dealing with our own ideas. And our own set of information. But when somebody comes into the cryptocurrency market cryptocurrency business models, and they come from a different part of society, and they asked a question that's completely off-the-wall to us, that's what we see the needs that need to be filled for World Wide acceptance.