ICO's killing crypto

[rudystyle]

Most of the ICOs are going to fall like flies once their funds run out. Dot com bubble rerun, only this time bigger and more severe

[vfrcbv91]

Cathay is not a complete bar to ico. As I know China temporarily closes ico for the development of appropriate regulation. But it's good, it means they now understand how serious crypto sector.

[Hyperme.sh]

WARNING: those who are trading and promoting ICO issued tokens to non-accredited investors in G20 nations (even via an exchange) may be incriminating themselves. Even the European Union has a criteria for accredited investors (and even Ethereum didn’t restrict its ICO accordingly):

https://en.wikipedia.org/wiki/Accredited_investor#European_Union

These guys could possibly end up in a pickle (they’re in Hong Kong and Cayman Islands):

https://bnktothefuture.com/icos

Every major nation has securities regulation law which applies to ICOs (including even Japan and India), and eventually the authorities will crackdown and enforce the laws:

With the recent bans, and news of crypto tightening regulations, some coins (mostly those which are modeled as a security) are beginning to move more into an accredited investor/institutional investor-only ICO.

Unless they identify and verify accredited investor status and file the appropriate paperwork in every jurisdiction where those accredited investors reside, then they’re still illegally issued securities, e.g. EOS’ checkbox for “I’m an accredited investor” is not legal issuance. Anyone promoting or trading these (including the owners of the exchanges!) may be incriminating themselves.

Do you guys see it as ICOs/blockchain defeating its own purpose by being open only to individuals with the big bucks, a needed measure, or there is way for us to agree on a middle ground?

Tokens issued under an accredited investor exemption must only be traded to other verified accredited investors. If the issuers/promoters/investors reasonably expect these tokens to be listed on public exchanges then they are probably committing a crime. An attorney pointed this out.

Fundraising via tokens is a giant mess that should be entirely avoided by everyone (at least until the authorities provide some new legal framework which might be many years from now, especially since it will require globalized harmonization of law in order to allow trading across nation-state borders). ICO issued tokens are doomed and will likely become illegal to trade and thus worthless. Expect exchanges to start voluntarily delisting ICO issued tokens once they realize the deep shit they are in. You’re investing in empty bags that have never produced any real world use or than facilitating selling empty bags to greater fools.

[glerant]

I agree that one has to be extra careful when investing in ICOs - research is key!

However there is a lot of hypocrisy from the elites with vested interests.
We all witnessed the blatant market manipulation recently carried out by Jamie Dimon with the help of the mainstream media. The Swedes are even making threatening noises towards JP Morgan - although we all know nothing will come of it.

https://news.bitcoin.com/jamie-dimons-bitcoin-statements-reported-as-market-abuse-in-sweden/

Personally, I think it is good that China have put on the brakes. Many other regions are looking at ways of regulating the ICO area. Meanwhile we have platforms like Waves that are actively working with the authorities to suggest ways of regulating - be it self regulation or legal frameworks with help from organisations like Deloitte.

However, as I said above, with or without regulation - Do your research! 

[TedMosby]

China ban ICOs because at china have so many company use ICOs  to make money  ,it is not helpful or useful for investors ,it is not real .
I think china  ban ICOs is good news  in china ,but they ban exchanges is not good ,we need More and more exchange where we can trade crytocurrenty, crytocurrenty was born to trade is main .
I believe A good ICO have roadmap ,company ,developer team behind .. Still have a success story .
No one or anything can kill crytocurrenty, i believe that .

Yeah, agree with you.
not only in china, but in other country too. every online ponzi (or multi level marketing) business trying to make their own fake coin and label it as an initial coin offering to attract more investor. like every HYIP site has their own coin. it is the trend now.

[gwestcot]

All I see in this thread are a bunch of greedy newbs or otherwise rapacious jackass's rather poorly attempting to defend their ponzi-pyramid scams.

The governments are going to crack down on these 'ICO' launches, and rightly so, for causing prolific economic loss to the masses; commercial, contract, tort, common, positive or equitable laws exist for a reason: to make remedies available for those whom suffered loss based on relying on a transactional scheme or contract; it will be the governments who subrogate into the shoes of those whom suffered economic loss, acting therefore as creditor, the metaphorical piper to be paid. The warning has come ex ante to those propagating or profiteering from these pernicious motifs, yet these profiteers believe there will not be consequences?

Simply, not everyone is fit for self-governance; and those who cannot govern themselves accordingly for a greater egalitarian cause, instead robbing Peter to pay himself, will instead be governed by powers larger than himself.

Thus, we implore you, the people, to think before acting; proceed for the greater good alone; else inevitably, misery itself shall haunt you.

Hey... If you don't do your due diligence then some of the blame goes to the ignorant investor. Besides, painting things with broad strokes can be dangerous since there are a lot of great ICO's out there. Regulation is the killer of innovation. If they are going to drop regulation then it needs to be well thought out and not completely stifle the industry. 

[coingrow]

To be honest, these ICO are defiantely having an adverse effect on the entire crypto. With so much of influx of new money, some ICO's are making absurd collections. For gods sake, ICO's like filecoin and tezos teams do not even have to work and can chill in Bahamas or some place without working any single day anymore. I am happy for all the regulations that are coming in, most scams will cease to exist in future.

[gwestcot]

To be honest, these ICO are defiantely having an adverse effect on the entire crypto. With so much of influx of new money, some ICO's are making absurd collections. For gods sake, ICO's like filecoin and tezos teams do not even have to work and can chill in Bahamas or some place without working any single day anymore. I am happy for all the regulations that are coming in, most scams will cease to exist in future.

I would rather have less regulation than too much regulation. Like I said... I put it on the investor to do their research and decide if it is a good investment decision. If you don't do it and you just follow the buzz of some new shiny ICO then you can only look at yourself for blame. Regulators always do knee jerk reactions that will inevitably make it tough for any ICO's moving forward. Some have real products with real promise, some do not, and other are complete scams but leave it up to the investors to make the choices. I never like having big brother tell me what is best for me to do with my time and money. But as far as China goes I am happy they are getting out of the game. Japan will be the largest player in mining in 2018 so they will cease to be important.

[kabz]

Ico's are a great opportunity for start up to reach their goals faster, i'm investing in ico's at my own risk, i always take a lot of times to see if a project is worth my investment, been disapointed sometimes but overall i'm really happy with my investments.

[coinfinder000]

Recent news of the imminent closer of many Chinese exchanges is the direct result of them dealing in ICOs, I've been shocked for the longest time other countries have done so, allowing ICO's to fly under regulators radar, however its only just a matter of time.

It has some bad influence to crypto, but I don't think icos will be killed by governments . No one could stop the development of block chain , China limited some shit icos, they were scammer.

[msemenov]

In my opinion, ICOs are a way to expand crypto further — people who hold a big amount of BTC/ETH, etc. cannot cash them out — this would ruin the market. But they obviously need their money to work for them. So the best possible way is to invest in ICOs.
Of course, there will be a lot of scam projects. But the further it goes, the harder it will be to hold a successful token sale. You will need to show a working prototype, first clients, etc. Same as with VC — back then it was much easier to raise a seed round than it is now.
And if you spent a viscirous amount of resources on proofing your concept, then it's likely that you continue developing it.

[TheDAL]

When the ICOs are regulated, the picture will clear up more. Now, it's a highly risky option to deal with ICOs, or you should make a big exploration to find the reliable one. But in any case, crypto is not close to death at all.

[sfireman]

ICO is another field with crypto. eth = kickstarter platform for people want quick money by using blockchain tech

[DAVETUN]

ICO is not killing the crypto world,change and development is normal a thing evolve inbthe crypto world.scammers/fraudersters are the main challenges we have here,over time they will be checkmate.

[concept2]

I agree with you. It is not very good and wise to invest our money in ICO because as you can see, there are likely a thousand of ICOs around and many projects have the same idea to each other. Therefore, scammers can easily make a same project and collect people's money.

[Vatimins]

Recent news of the imminent closer of many Chinese exchanges is the direct result of them dealing in ICOs, I've been shocked for the longest time other countries have done so, allowing ICO's to fly under regulators radar, however its only just a matter of time.

Really man, you should try to look more deeper into the happenings today in the crypto world. ICOs aren't killing the crypto world. Instead, it is maming it better. It attracts more people everyday. Which is good for us who love crypto currencies. And the governments still can't do anything to pin down crypto currencies enough to make it illegal. So don't worry too much. If it happens then it happens. At least we had a great ride.

[richardsNY]

ICO is not killing the crypto world,change and development is normal a thing evolve inbthe crypto world.scammers/fraudersters are the main challenges we have here,over time they will be checkmate.

That's more or less correct. I think an even more important role that contributes to more scams popping up, is the fact that people blindly invest their money into anything they find. This is exactly the type of behavior that is giving scammers the incentive to expand and spread like a virus where they are harming the community. If people for once just took the time to think and do proper research before blindly diving into whatever ICO, this whole ICO craze wouldn't be infested with scammers.

[warr1979]

Recent news of the imminent closer of many Chinese exchanges is the direct result of them dealing in ICOs, I've been shocked for the longest time other countries have done so, allowing ICO's to fly under regulators radar, however its only just a matter of time.

It has some bad influence to crypto, but I don't think icos will be killed by governments . No one could stop the development of block chain , China limited some shit icos, they were scammer.

But actually the ICO market can makes the government pay attention to the cryptocurrency world, not is Bitcoin.
Because most of the case about speculative, the ICO market is subject makes China interested and banned it in their country first.

[PowerfulGuerilla]

ICOs are mainly used to raise funds to give a start for a new project, and a share of them are scamms, but ICO and crypto complement each other really well, despite any drawbacks, including obstructing the mainstream awareness about ICO and cryptos.

[BTCdoaA]

really 2017 was bad year for ICO even good powered ICO came with new idea that might help blockchain technology turned to be only profit collectors and main depends on WAVE\ETH assets. ETT was my last ICO which convince me to own special Tel number going to be used to secure communication privacy .