Are ICOs scam?

[Vivimubarak]

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

before you joined an ICO you should find information about ICO which you can get in ANN Thread and from its website, from that information you can make decision. can minimize the existence of a scam ICO

[mustafayasinsenturk]

I think every ico is a potential fraud. people started doing this job just to make money.
you can not trust anyone,my friend

[MiBambino]

I think every ico is a potential fraud. people started doing this job just to make money.
you can not trust anyone,my friend

true, but the team and their experience and transparancy can show a lot of credibility

[Bezobraznike]

I think every ico is a potential fraud. people started doing this job just to make money.
you can not trust anyone,my friend

   Everything new is a potential fraud. ICO`s are new for most of us, and scammers are
using that. They using people greediness, they promise huge profits to those who invest
in early stages, they promise well designed future with many pictures and documents that
prove their story. We need to be smart when we choose in which ICO we wish to invest.
   I invested in casino ICO`s, I believe there is something in that. Before I invested I
checked who is behind this projects, their road map for the future. Unlike others ICO`s
casino ICO`s are easy to understand, well designed casino with more games and more people
will earn good money and that will be good for all investors. They have plans for new games,
promotions, and I believe that bitcoin gambling have a good future.
   Some ICO`s are more technical, and I mostly relay on information`s from others. To know
how to spot good ICO of that kind you need to have huge knowledge about technology.

[hachiman13]

Not all of the are scam. Yes, they are made to make the devs rich but don't let it discourage you in investing. There are still many ICO that have good innovations and the team seems capable. You should check out those things first so you don't get scammed.

[Omega Weapon]

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

Maybe yes maybe not since you do not give the name of the ico you invested we can only guess, if we knew in what ico you invested we could dig deeper, however one thing you need to understand that even if there are a lot of scams round the forum, sometimes a coin can fail for things other than a scam, in that case you were not scammed simply your investment did not gave to you the earnings you were looking for.

[R2-D2R2]

Make my words 99% of ICO's are scams and actually when they end the coin go nowhere expect the people who created the ICO's walk away with free Bitcoin, its a suckers heaven. If you read my post , there is a eastern European gang on this forum using bots to post hundreds of ico's per month. Newbies keep putting into these ICo's thinking it will make them rich as they said: A fool and his money are soon parted.
China Banned ICO's for good reasons. Too bad bitcointalk is not preventing bots from flooding posts with ICO's.

[cryptojeebus]

Depends on how you define SCAM. Some are not outright scam in a sense that they are trying to swindle you out of your money by making a fake promise. However, they can still be a waste of your time and money in the long run because they are run by an incompetent team with poor ideas.

[onpages]

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

If Dev is still active and the ICO web is still accessible the possibility of scam is still very small.
try to check again how much soft cap ico I think $ 5-10 million has met the target than other ICO.

[R2-D2R2]

[R2-D2R2]

The problem is even a 5 year old can start an ICO scam. It cost nothing and its easy to set up, i could set up one right now and have a coin by tomorrow and some ads pop up on targeted sites, after that  me and the dev would split the total Bitcoins received from the ICO 50/50.

Crypto newbies are the ones who fall victims to this, most veterans will never invest in an ICO's or they will take extreme measure before putting one cent into it. The problems a lot of newbies think ICO's is easy money the reality they are the opposite a majority are just there to suck the BTC out of newbies. Ignorance is the reasons these ICOS keep popping by the hundreds.

[Casdinyard]

The problem is even a 5 year old can start an ICO scam. It cost nothing and its easy to set up, i could set up one right now and have a coin by tomorrow and some ads pop up on targeted sites, after that  me and the dev would split the total Bitcoins received from the ICO 50/50.

Crypto newbies are the ones who fall victims to this, most veterans will never invest in an ICO's or they will take extreme measure before putting one cent into it. The problems a lot of newbies think ICO's is easy money the reality they are the opposite a majority are just there to suck the BTC out of newbies. Ignorance is the reasons these ICOS keep popping by the hundreds.

Well maybe China banned ICO because of this rampant fraud, as they just protecting their people in this illegal fund raising.
Yeah at first I'm actually didn't agree with China but later on as fraudulent is widespread I just understand their two cents.

Investing ICO is a great investment for short term but what's happening right now many are afraid to invest and loss their money instantly. As this ICO is like rotten tomato that mix in the fresh one's so its hard to tell what's fresh and what's not.

[ramsdaj28]

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

You can't say that an ICO is scam or not unless the project starts. ICO (Initial Coins Offering) is the first step of these companies who want to offer their product to people. During that time, they are trying to evaluate how people patronize their project/coin/offers. If there are a lot of people joining the ICO, then the tendency is that the project will be successful. On the other hand, some ICO don't succeed, thus, forcing the company to close after some time. But still, you need to take risk to become successful, too. No one gain without any risk. That's what cryptocurrency world is all about.

[otunayode]

Many ico look scam in my opinion

[vasavala]

We need a regolator company which check all ICO and make a licence for them. We all want to clear everything. Scams are not good.

[MiBambino]

Holy shitballs this is exactly what I've been talking about actually, so many of my friends keep sending me websites and stuff for new ICO's yet they don't even bother to check if the team is actually doing anything. The process you describe in that picture would honestly barely take 1 day, and you can literally make half a million dollar in 1 week doing this Most people won't fall into your trap, but some would. It's like sending out an email about being a nigerian prince and wanting to share your millions with them, provided they pay you 10K to cover expenses. if you send it to 100.000 email addresses, I'm sure 50 of them will send you the money, and boom you just made half a million bucks

[Latrix]

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

You need to be diligent enough to check on the ICO and the team. you can't just base on the collected sales to justify if they are real or scam. So do your homework to protect yourself.

[MiBambino]

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

You need to be diligent enough to check on the ICO and the team. you can't just base on the collected sales to justify if they are real or scam. So do your homework to protect yourself.

Check the team, if they have experience, are transparent, are active, are responsive, have a good roadmap consisting of risks, potential gains and flaws as well as realistic goals, its most likely not a scam

[Invester]

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

You need to be diligent enough to check on the ICO and the team. you can't just base on the collected sales to justify if they are real or scam. So do your homework to protect yourself.

Check the team, if they have experience, are transparent, are active, are responsive, have a good roadmap consisting of risks, potential gains and flaws as well as realistic goals, its most likely not a scam

I will just add something here. I have backread this thread and your concern here is pretty much answered and explained by the posts. Try to go over the team's responses to negative comments. Try to look at how they react to these. A lot of scams do not spend time entertaining them or even deleting them or banning or blocking those people raising the concerns. Instead of properly addressing them, they avoid and cover them up.

[MiBambino]

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

You need to be diligent enough to check on the ICO and the team. you can't just base on the collected sales to justify if they are real or scam. So do your homework to protect yourself.

Check the team, if they have experience, are transparent, are active, are responsive, have a good roadmap consisting of risks, potential gains and flaws as well as realistic goals, its most likely not a scam

I will just add something here. I have backread this thread and your concern here is pretty much answered and explained by the posts. Try to go over the team's responses to negative comments. Try to look at how they react to these. A lot of scams do not spend time entertaining them or even deleting them or banning or blocking those people raising the concerns. Instead of properly addressing them, they avoid and cover them up.

That last thing, exactly. I once invested some money in a project I will not disclose. During the development stage, some evidence came up surrounding a possible scam, which simply was ignored. Not only that, communication in general drastically went down. Now, another project I firmly believe in, Change bank, was criticized for setting a very high hardcap, almost unreachable. It didn't take long before they released an official statement addressing this critique and returning trust to the project. The difference this small act makes is really incredible.