What's the purpose of all these pre-ico's and ICO's nowadays? [Opinion] [POLL]

[tarmi]

Guys,

Looking for opinions here, and a list of valuable projects on the ANN thread

My idea: 99% of coins/tokens launched every day (up to 30 a day!) are asking for pre-ico or ico even before they have anything coded.
The crowdsale or token contract they use to collect these funds, are 90% cloned, messy contract, not even written or formatted like it should.
This does not make me confident about their capabilities! Yet many users keep sending funds to nothing more than empty promises.

Between all the mess, we find some hidden gems. Coins that are actually working, deployed, and running smoothly with well written codes that required not a single dollar from this community.
Ironically, many of these coins are called scams or simply not worth to watch because mainly they don't have fancy graphics or big accounts backing them up.

I want you guys to sum the most undervalued and most overvalued project you've seen appearing here lately.

Value, in terms of how the team pulled it off. Did they manage to have everything ready without a single fund collection?
Or did they ask hundreds of Ethers just to fill an empty promise?

What's your opinion?

My top 2 of successfull coins, where the team got their code ready, deployed, working, and actively monitoring for this moment are

- MoonCoin. It's an old coin, but the dev who took over the project is performing miracles with it! worth checking out
- ClusterToken. New account, new team, but they're the only token released lately that didn't ask for a cent and deployed their token.

My personal opinion about coins that look promising right now is 0.
I haven't seen any coin/token launch that doens't require funds before they even release a line of code.

Can we get an overview from the active users in the ANN thread?
Hopefully we'll discover more hidden gems, and bust fake coins faster.

Keep on chasing them gems 

* I will self moderate this thread to prevent spamming. Only true opinions are valued.

[shotgun1969]

its starting to look like the gofundme pages in bitcointalk.   i believe they should start another announcement thread for ico only.

[bathrobehero]

Pre-ICOs and bonuses are marketing tricks trying to create exclusivity and a sense of urge that if you don't invest now you might miss the suggested quick profits.

People who do get in early and talk about it create an avalance of people rushing to get in as well.


It's basically the lower end, slimy online casino and gambling site level of marketing which fits nicely because ICOs are a form of gambling.

[tarmi]

Pre-ICOs and bonuses are marketing tricks trying to create exclusivity and a sense of urge that if you don't invest now you might miss the suggested quick profits.

People who do get in early and talk about it create an avalance of people rushing to get in as well.

It's basically the lower end, slimy online casino and gambling site level of marketing which fits nicely because ICOs are a form of gambling.

That makes sense.
But really, the promises all sound good, but so far i haven't seen any ICO performing what they promise once they have the money lately.

I mean, shouldn't you AT LEAST have a testnet version ready before even asking funds?
And funds for what? 4 hours of work to write up ~500 lines of code?

I really don't get why people keep falling for that shit.

[rchstr]

I think every ICO's has a good idea behind it. You yourself have to find and research about the idea's they are offering because it was your own money you will invest. You are responsible for your profit or loss if the ICO you have invested had failed. So I think the purposes of having ICO's even without anything to show even codes or something is to get funds to get their idea becomes reality.

[shotgun1969]

if it sounds to good in to be true in crypto  it is to good to be true.

[tarmi]

So I think the purposes of having ICO's even without anything to show even codes or something is to get funds to get their idea becomes reality.

Funds to do what? I've been coding for +25 years now, and today's smart contracts? Give me 30 minutes and i'll write a token + crowdsale from scratch.
So if they need all those funds to spend 4 days learning Solidity, and 1 day to clone and mess until they've managed to create a token thanks to Github clones....
90% of all ICO's can't even write a decent contract that holds their token or crowdsale, how can you trust such developers capabilities to write whatever they promise?

[bathrobehero]

Pre-ICOs and bonuses are marketing tricks trying to create exclusivity and a sense of urge that if you don't invest now you might miss the suggested quick profits.

People who do get in early and talk about it create an avalance of people rushing to get in as well.

It's basically the lower end, slimy online casino and gambling site level of marketing which fits nicely because ICOs are a form of gambling.

That makes sense.
But really, the promises all sound good, but so far i haven't seen any ICO performing what they promise once they have the money lately.

I mean, shouldn't you AT LEAST have a testnet version ready before even asking funds?
And funds for what? 4 hours of work to write up ~500 lines of code?

I really don't get why people keep falling for that shit.

Because people don't care. They just want a spin on the big shiny ICO slotmachine.

Ever since Bitcoin really took off this year it attracted a lot of lazy people who couldn't care less about crypto, they're just here chasing the gold rush in their own way.

[kamiyama]

Please make the best coin
That simplifies matters
dev tarmi

[dranster]

JUST TO SCAM