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Author Topic: Are ICOs scam?  (Read 4883 times)
Onimushi
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September 19, 2017, 06:52:47 AM
 #1

I just joined an ICO, is there any possibilities that I will be scammed. They have just collected $5-10 million.
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September 19, 2017, 06:55:27 AM
 #2

Some are from the get go, but others just fail for other reasons. Try to research about it as much as you can. It's a case by case issue.
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September 19, 2017, 06:57:30 AM
 #3

I have the same question. But if they wew scams then so many ICOs would be out in the market. Would like to hear from senior members.

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September 19, 2017, 07:03:07 AM
 #4

Some are from the get go, but others just fail for other reasons. Try to research about it as much as you can. It's a case by case issue.

I just joined electroneum. Please someone, can anyone judge it for me. What can you say?
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September 19, 2017, 07:23:53 AM
 #5

Some are, some aren't. You just have to pick the few good ones. We're talking about investing here; so make sure to do a lot of research before sending up your bitcoin or ethereum to the ICO's address. I won't list the things what you need to find in an ICO to minimize the risks of being scammed because I've posted it in these boards a numerous times already. Read through past similar threads to find decent answers.

https://bitcointalk.org/index.php?topic=1478633.0
https://bitcointalk.org/index.php?topic=1717726.0


I have the same question. But if they wew scams then so many ICOs would be out in the market. Would like to hear from senior members.

There are actually so much ICOs right now. And the number are still increasing.

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September 19, 2017, 07:34:56 AM
 #6

The answer is no, ICOs are not scam. ICOs are associated with scams because many projects offering new tokens or coins ended up scams. Some others may not be scams but it failed miserably. Some other devs of projects also ran away whatever gathered through ICOs.
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September 19, 2017, 07:43:31 AM
 #7

Not all icos are scams, depending which Ico ofcourse there are alot of projects that are scams, alot that are good but just not good enough but surely there are icos which are good, btc is not the only coin that is having a function, look at pay/tenx,  omg, qtum and neo these are working products and some of them have more than bitcoin in the form of a physical product.

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September 19, 2017, 07:47:52 AM
 #8

I have came to think most of them are scams, and the new way to get money from users. Of course there will be exceptions.

But not long ago, whenever someone created a coin with some premine, even if it was just 10% premine... people will cry SCAM!

Now there are ICOS everywhere, when you pay in advance for tokens (that are nothing but premined coins) ... and for the most part, none says nothing. Just because they show a roadmap or innovative idea to get the dollars in.

Seems rather funny to me.

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September 19, 2017, 07:51:59 AM
 #9

I don't think that all ICOs are scam. Maybe there are some ICO that completely disappeared after the end, but you cannot justify all of them are. There are lots of altcoins nowadays that are successful and they all started with ICO. Just be mindful of the offerings that new ICOs give, if the payouts is too much to be true then better watchout. Just do research when you intend to join one, especially if you want to invest. If you want to have bigger assurance, just look for campaign managers who have run ICOs that paid.

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September 19, 2017, 07:53:32 AM
 #10

I just joined an ICO, is there any possibilities that I will be scammed. They have just collected $5-10 million.
Worrry more about jail seeing they are illegal.
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September 19, 2017, 08:50:39 AM
 #11

I just joined an ICO, is there any possibilities that I will be scammed. They have just collected $5-10 million.
If I may know, what ICO do you follow?
Usually, the cheat ico is when he disappears when ico has finished.

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September 19, 2017, 02:09:55 PM
 #12

Although there are a lot of ICO's popping up all over the place, it does not mean that there are a lot of scams.

It is also noting that just because and ICO fails even after raising capital, it might not be a scam, maybe the project just failed.

When it comes to investing into ICO's it is like any other investment, research is key. Things that i look for in an ICO are:-

- Strong white paper - This is a must as it will show where the company is going and why they need a cryptocurrency in their system.
- Strong team - Not just a development team, but also marketers and a CEO. Does not matter how good the concept is, it will crumble with a poor team.
- Finite supply - you need to have a certain supply of the token.
- good website and strong social media - shows they are putting money and wanting to connect with investors.
- concept - Do they need a cryptocurrency?

Once these are in place, then you can decide if you like the project.
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September 19, 2017, 02:33:30 PM
 #13

No, at least that’s not the main idea of ICO. However, it can be extremely easy to cause a fraud or to fall for it unless you do a proper research on the project. If you are willing to back any campaign, you need to pay attention to its details and the project's description written in whitepaper.

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September 19, 2017, 02:39:33 PM
 #14

Not all of them are scams but there aren't a lot of genuine ico's either. I advise you to do a lot of research before you invest into an ico. Keep in mind that by investing in an ico you are essentially investing in a company that hasn't even started yet. You are just investing in a concept. 90% of business will eventually fail, that makes the reward risk reward ratio even thighter.
moamin77
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September 19, 2017, 02:47:04 PM
 #15

I just joined an ICO, is there any possibilities that I will be scammed. They have just collected $5-10 million.

It really depends.....definitely we can never say that all ICOs are fake and we can never say that all of them are legitimate

The important question now is: Did you do your own due diligence before taking the decision to join that ICO?
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September 19, 2017, 02:47:56 PM
 #16

I am pretty sure that there are a lot of ICOs that are just scam. Most people trying to take your money, but there a still a few nice projects that will have some nice movements to the moon Smiley Just have to do enough research, before you invest in an ICO!

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September 19, 2017, 03:02:23 PM
 #17

Some are definitely scams, but there are plenty who honestly believe in what they are doing. Do your research, that is the most important thing. What are they selling? Is it just an ERC20 or WAVES token? What purpose does it serve? If it is a scam it should be pretty obvious that it doesn't actually serve any purpose at all.

Really, look for the technology behind what you are looking at. There are tokens that are based on real tech that will be around for a long time. Look at IOTA, Tangle is super cool and eventually their token will be worth good money because of it. Another one is DragonChain, I think their ICO is coming up sometime soon, they are another great example of real innovative technology, not just some token that plans on "changing the way you do blah blah blah".

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September 19, 2017, 03:16:10 PM
 #18

Well recently there have been some ICO that turns to be scam after raising funds from inveators but generally ICO is not scam and a really good investment opportunity which should be good for both project devs and investors if they succeed. Unfornately, there are really lots of scammer in this world who use ICO in their own benifits and steal money of investor

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September 19, 2017, 03:18:04 PM
 #19

I just joined an ICO, is there any possibilities that I will be scammed. They have just collected $5-10 million.
So far, ico now has too many of them, and sometimes you will get confused in which them are really potentials, but of course still you need to be careful anyway on choosing ico. Maybe that's one of the reason why China banned the ico to their country.


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September 19, 2017, 03:20:51 PM
 #20

There are some ICO that turned to scam once they have accumulated funds but there are also legit ICO. You need to do some research first before investing on ICO. Look for their developers, whitepaper, roadmap and any other things related to their future plans on their coin. Be wise on investing and invest only what you can afford to lose.


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