ICO Payments and How they Know Who's is Who?

[SurfnTurf]

Hi,

I have been looking at a few ICO's and I don't understand how the deposits work (or more specifically, how do they account/audit my payment).

They require I put in my Email/a Waves address/Amount/Type of Crypto.  But they do not require I put the "address" I will send my payment from.

What stops me from telling them I will send 1 BTC, put in a Waves address and then just checking their wallet and saying, "yeah, that deposit there is mine, now send those coins to my Waves wallet"?

Thanks.

[Qiuyue201]

Hi,

I have been looking at a few ICO's and I don't understand how the deposits work (or more specifically, how do they account/audit my payment).

They require I put in my Email/a Waves address/Amount/Type of Crypto.  But they do not require I put the "address" I will send my payment from.

What stops me from telling them I will send 1 BTC, put in a Waves address and then just checking their wallet and saying, "yeah, that deposit there is mine, now send those coins to my Waves wallet"?

Thanks.

You just need to create such account that related to the ethereum network if you are want to investing in the projects that has been used the ethereum as the min platform and that will be so easy.
But the smartcontract can be programmed to automatically send the token shares after received the payment

[SurfnTurf]

Hi Qiuyue201,

Thanks.  What I don't understand though is they take BTC/WAVES/ETH and they only require I enter a Waves wallet.  If I send from my BTC, how will they know it was "me".  I don't know if I am explaining so I will give example.

Ex. - 

3 people sign up and say they will send 1 BTC and then give their email and a Waves address (to receive their token/dividend).
Then only 2 people send 1 BTC.  How do they know "which" 2 to return the coins to?
(or what if I am the one who did not send the BTC and I claim that I was the one who sent it from "x" address?)

I want to invest in one but it is a little nerve racking for me to send BTC when I can't understand how I can confirm it was my payment.

Thanks again for the help.

[SurfnTurf]

I will try again looking at it from their perspective because I am not sure I explained very well.  What I am confused about is I am sending from a Bitcoin account that is not tied at all to the Waves account.

If I am running an ICO and 3 people tell me they will send 5 BTC and then give me a Waves address to send their tokens.

What happens if I only receive 2 payments of 5 BTC, how do I know "who" made the payment? (or who is the one who "did not" make the payment?)

It's exciting  but very confusing 

Thanks in advance for any help.

[rearwheels]

ICO may use unique deposit addresses for each dashboard so they know which payment belongs to each participant.
After payment you may provide your address for withdrawal coins from dashboard and after ICO tokens will be distributed on this address.