Lets Create NEW ICO standards! | Ultimate thread

[TimtheYoutuber]

Full analysis: https://www.youtube.com/watch?v=24c1Azp4238
Make sure to subscribe if you like the video!

SUMMARY :

In today's age we are now seeing crypto currency projects popping up like crazy, this is both good and bad. The really interesting reason ICO’s are so unique is that it is a way for people to fundraise a product/service without traditional standards. However if we want adoption and the scaling future most of us cryptocurrency enthusiasts users want, then we are going to need to make some standards to stop the ICO frenzy. It is no secret that 90% of the coins on the market is going to fail, just like traditional businesses today. Regulation can be very harmful to innovation and markets like we have seen in the past, however this is not going to be a harmful bar on crypto currency. With the knowledge that most of the coins and projects are going to fail, one might think that cryptocurrency is going down the wrong road. However good things can come from failing ICO’s. Its called a bubble burst, that is right Ethereum and other ICO’s are in a bubble. We need these ICO’s to fail in order to understand that we need a more reasonable financial funding standard. ICo’s are receiving too much money fast, and are over evaluated even in the initial funding phase. ICo’s are launching every single day, with less and less information yet are receiving more and more money! This is a huge problem, and a Coindesk study says that ICO’s in the month of September 2017 received a total of $500m. However not every single project is unreasonable, there are many exciting projects out today that are receiving less funding or not taking the coin offering route and are extremely promising however we don't hear about them because they aren't hyped. As investors we need to make smarter decisions with our precious coins, and hold these ICo’s to a brand new standard.



Do you think there should be more standards for whitepapers and ICO's? How do you think it is effecting the crypto currency community? Make sure to check my YouTube video to hear the full analysis.

[CoinPowerProject]

interesting poin of view 

[TimtheYoutuber]

interesting poin of view 

Thank you for the kind words, how do you feel about it?

[Andrew1337]

Awesome guide for creating a ICO !.
I would like to open a new ICO can you help me with interviewing me ? Are you also a good interviewer?

[rumexx]

Good write up and analysis. If there is a way to scale and weigh ICO before they even starts will go a long way to help both investors and bounty hunters not to lose money and time respectively. Can you imagine purchasing token during ICO or Presale  or put effort in promoting a project only to be told we are not able to reach our soft or hard cap. It is painful.  

[TimtheYoutuber]

Awesome guide for creating a ICO !.
I would like to open a new ICO can you help me with interviewing me ? Are you also a good interviewer?

I dont think I understand your question

Good write up and analysis. If there is a way to scale and weigh ICO before they even starts will go a long way to help both investors and bounty hunters not to lose money and time respectively. Can you imagine purchasing token during ICO or Presale  or put effort in promoting a project only to be told we are not able to reach our soft or hard cap. It is painful.  

Lots of changes need to be made in ICO's that is for sure

[Willful_Grok]

Agree that there should be more standards. While hard core regulation would in fact stifle the growth, you can consider what an IPO needs to succeed and work back from there.  How about full disclosure on risks, competitive analysis, growth expectations, profitability expectations etc.? It would at least show that the company management has thought about their business before trying an ICO and would help investors make sense of the business model. Creating a blockchain is great, but what does the company do once that is done? Are they really going to get customers?  Investors should get a sense as to why this company deserves an investment, beyond just creating a blockchain.

[JMAHH]

Yes of course that it is a good analysis, you are right about everything that you wrote about. Ico's need some regulations, without them, everybody could be rich with only creating an ANN thread, creating some fake linkedin profiles and a good whitepaper, and of course, a signature campaign who will last more than a month, it is a good marketing strategy, of course.
But yes, they need to change because people are not investing as much money as they did before.

[hakuna]

That's a good point of view! I agree with you, ICOs should be regulated. They should undergo a validation process by an auditor, and smart contracts developed should be checked by some external evaluators.

[tobs]

ICOs have that interesting thing about actually letting everyone raise funds for their project, even if it means doing it basically from scratch, but on the other hand that's the biggest problem. Many unprepared people try to start ICO, without any plans, goals, technical and programming skills. They just want to have their own project, release tokens and hope for profits. I think, ICOs maybe not neccessarily should be regulated legally, but for sure from the technical side. It should be really hard to conduct ICO, so that only people that know how to take care of blockchain technology or people with enough money to hire such specialists would do this.

[TimtheYoutuber]

That's a good point of view! I agree with you, ICOs should be regulated. They should undergo a validation process by an auditor, and smart contracts developed should be checked by some external evaluators.

Thanks! And yes I agree

[Argoo]

The change in standards, the approach to the ICO is long overdue. However, it is actually about a certain regulation. But this process itself is decentralized. The regulation of the issue of initial coins can be made only by the state in whose territory the ICO is conducted. Recently, Vitaly Buterin said that at the end of next year, beginning of 2019, the second wave, the second version of the ICO, will be launched, which will be more qualitative. True, he did not specify what is the difference. Let's hope for this new version and for partial regulation of the ICO in terms of checking and identifying the team on the part of the states, so that the risks will decrease and these activities will be of a higher quality.

[TimtheYoutuber]

The change in standards, the approach to the ICO is long overdue. However, it is actually about a certain regulation. But this process itself is decentralized. The regulation of the issue of initial coins can be made only by the state in whose territory the ICO is conducted. Recently, Vitaly Buterin said that at the end of next year, beginning of 2019, the second wave, the second version of the ICO, will be launched, which will be more qualitative. True, he did not specify what is the difference. Let's hope for this new version and for partial regulation of the ICO in terms of checking and identifying the team on the part of the states, so that the risks will decrease and these activities will be of a higher quality.

This standard of investing in coins that dont have a mvp, marketing research and the advisor vague will not last forever. When the companies run out of money, hell will break for a period of time. Which is why we should be holding them to a brand new standard

[WyattS]

Standards and regulations are two different conversations.  I believe having a standard (or set of standards) would be incredible.  There are already defacto standards out there.  For instance, all ICOs must publish a whitepaper and have a website with a .io extension (:eye_roll:).  However, having a standards body that encourages more disclosure and easy ICO comparisons would be welcomed. 

Now, as for regulations, I believe that the worldwide governments are already on that.  Where money is, laws will be created and regulations will exist.

[WyattS]

Standards and regulations are two different conversations.  I believe having a standard (or set of standards) would be incredible.  There are already defacto standards out there.  For instance, all ICOs must publish a whitepaper and have a website with a .io extension (:eye_roll:).  However, having a standards body that encourages more disclosure and easy ICO comparisons would be welcomed. 

Now, as for regulations, I believe that the worldwide governments are already on that.  Where money is, laws will be created and regulations will exist.

P.S.  Something like this:
https://www.coinbase.com/legal/securities-law-framework.pdf

[TimtheYoutuber]

Standards and regulations are two different conversations.  I believe having a standard (or set of standards) would be incredible.  There are already defacto standards out there.  For instance, all ICOs must publish a whitepaper and have a website with a .io extension (:eye_roll:).  However, having a standards body that encourages more disclosure and easy ICO comparisons would be welcomed. 

Now, as for regulations, I believe that the worldwide governments are already on that.  Where money is, laws will be created and regulations will exist.

I agree, regulation can kill innovation while standards make it better for the investors.

[Ken.drick]

Better regulation will protect investors
Now ICO has too much fraud
I think so.

[imutlinda]

Very good I hope this really happened so investors are protected from scam projects and the like. And I think if the rules are more and more strictly glance crypto currency as a place of investment

[TimtheYoutuber]

Better regulation will protect investors
Now ICO has too much fraud
I think so.

Exactly, it will be good for crypto. However it isnt even really regulation, its investors getting smarter and demanding more

Very good I hope this really happened so investors are protected from scam projects and the like. And I think if the rules are more and more strictly glance crypto currency as a place of investment

Thanks, if you watched my video I explain all the positives

[Ertetert]

Well, our platform provides basic background checks for all upcoming ICO's. We verify if it is initiated by a real group of people that form a real company. I think any more control beyond that will lead to exactly the same situation because of which we have this cryptoasset market in the first place. Too much regulations that are done by people who need to be paid and can be bribed or can extort.

https://bitcointalk.org/index.php?topic=1980695.msg19722978#msg19722978