Do you feel ICOs try to raise too much?

[Spoetnik]

Anything is too much.

If you do not have the means to whip up a quick web page and clone / mod a coin source code repo then you should post your coin idea and leave it at that.. or join one of the existing 10k coins.

And guess what ? That is how it *USED* to work in crypto many years ago.
Did you know before the rise of ICO's people simply made coins and posted them ?
Yeah i know shocking right ?

If you don't have the means then don't do it.
Don't create a problem so you can send me the bill for the solution.

And "too much" ? Are you fucking kidding me ?
I was the evil monster troll FUD'er with threats of lawsuits and hated beyond belief when..

The children with high school pictures posted here who made a coin called BlockNET launched their scammy ass retard gimmick ICO.

They had a dumb idea and then posted an ANN topic with a brief paragraph of information embedded in a jpeg with no text on the forum posting.. then held their hand out for a million dollars in Bitcoin.
It sickened me and i was tipped off by a guy privately to look into it.
So i asked some questions.. but apparently that means you are a TROLL.

I also noticed the dev said he had completed 75% of the code *BEFORE* posting the jpeg ANN topic and the million dollar ICO.. get it ?
Had he waited he could have simply finished coding it in the short time it took him to do the 75% *BEFORE* posting publicly.
And funny enough in a year+ he had done nothing but letting hosting expire and fed supporters excuses delaying them while having plenty of time to finish the other 25% of the project.

So i asked the dev why do you need 1 million dollars then ?
He said to me on the forum here "to ensure it's a success"
But i guess that does not cover $50 for some hosting costs though  

It didn't take long before the dev threatened me with lawsuits for defaming his "Company"

The funny part is that was one of the better coins.. they get far worse than that.
Let me make this clear so there is no confusion.

THIS IS SCAMMY BULLSHIT .

[giveen]

of course they are expecting too much..

look at the ICOs nowadays.. minmum hard cap is 6 million

do we really need 6 million dollar to create an app or trading site which they advertise on their white paper?

You can't really decide that the advertising budget is mostly which costs a lot for most of the ico if you want to raise millions you need to spend in thousands.
Now regarding the app or coin they develop you can't predict it that weather it will be useful or not only when the right time comes.

Yes 99% of the ICOs are raising way too much money than required. I've seen some social networks ICOs raising 5 - 6 million. It won't even cost a fraction of that. I can build a better network with only $10000! Lol. They raise too much of money so that the team can be millionaires. I've just given you one example but there are 100+ ICOs like this.

Well if you think $6 million is too much then why are you promoting something which has similar to figures you are against.
Plus if people don't have any problem in giving them $6 million well then it's not their fault as well who doesn't like free money.

[nappoleon]

They raising too much money because they probably ensuring the future of their offspring's generation and their grand offspring's offspring too. LOL. And what's a better way to do that than rooting from the uninformed "investors". Desperate times.

[nambunamba]

they had their own calculation for the alocation. it might be true they expect too high for the project but i do think its not bad decision to expect bigger rather than small .

[rey.fudz15]

Hey, I'm interested in everyone's opinions on this. I find so often when looking for ICOs I come across something that sounds like a good idea but then am instantly put off when they all seem to trying to raise 10s of millions for something I would deem could be perfectly possible with only a couple of million or even less.

 Do you feel that ICOs tend to try and raise too much? If yes, do you think this is out of greed for their own personal gain or simply because they over estimate the worth of their idea?

 Do you feel there is anything we can do as a community to bring expectations back to reality? Other than waiting for ICOs to continually under perform and then eventually expectations adjust?

I agree most ICO are trying to raise too much fund which they cannot support the claim where the fund will go, the cost is so small that the fund they are trying to get is too much for their future operation.

[sirenmoon]

This is the time of the greed. Etherum ICO raised the nice amount of money and also gained the trust of the fellow investors. That particular ICO started a chain of other projects raising funds to cover the expenses of their projects. Many developers in this situations are starting false campaigns that are closed after the end of the ICO shutting the door to investor and scamming everyone involved. There are many scams and many of developers see the easy money that they can gain easy with investors backing their projects. Many of them want too many funds covering not so promising projects and to evade investing in that kind of projects only solution is to make a deep research and invest smartly and with caution.

[obizcoin]

ICOs not able to justify their fund raising amount with the business goals can be raising higher. There are alot of genuine ICOs as well. Its upto investors to study the whitepaper and business model appropriately and evaulate whether the investment and projections co-relate.

[Spoetnik]

One word.. ACCOUNTABILITY.

Let me know when anyone ever sees it in crypto.  

Still don't get it ?
Ok well then give me 6 million dollars.

- I will buy Champagne and caviar in my private yacht so i can code the coin.

- I will buy a Lamborghini… then get a Chrome paint job for it so i can impress Advertisers for my coin.

- I will buy a private jet so i can test out the coin code on TestNET in flight.

..I'll still have 5 million dollars left over for a "crypto coin".

Proof i spent it ? Your lookin' at it.
Isn't a forum posting enough ?
Hell it's more ACCOUNTABILITY than 99% of all coins ever released.  
Most simply don't say anything at all about what they spent it on.

So what will i spend the remaining 5 million dollars on ?
Hey guys.. downloading Github.zip and modding it a bit with a new icon i got on Google is hard !
I will have to hire a team to figure out this crazy new magical internet wizardry.
Yeah or i dunno maybe 5 million dollars worth of crack & hookers.. meh who cares fuck you.. pay me assholes.
I am big's time crypto coin superstar !

[liuqi]

They raising too much money because they probably ensuring the future of their offspring's generation and their grand offspring's offspring too. LOL. And what's a better way to do that than rooting from the uninformed "investors". Desperate times.

Who is rising too much money. ICO investment been done by the each different persons dude not by the one set of people of alone.
When it is done by different people how ICO project will raise its about the investors who moves to altcoin creation all the time.
Instead of making profit with ICO you guys can invest directly into bitcoin and make money of it.

[publicjud]

I agree. Many ICOs have very high hardcap to attract attention to their bounty campaigns imo. If some project has hardcap 50M+ it's enough to place only 0.5-1% for bounty and it would looking like $250k-500k+. Many people are very trustful so they take part at these campaigns.

[withche.07]

Yes I think most of the icos have very high minimum cap for projects to become realized. Even good projects that hit hard cap don't deserve amounts they got from investors. It is truth.

[woas4]

In my opinion, almost always they do try to raise too much. There is no reason in the world that a team of 5~10 people should be able to fund $50 millions plus - they can't even spend it! And too much money can be very detrimental to a project, just see Tezos for a recent reference...

[Grim149x]

I think they it's not too much as they must have had calculated it beforehand. However for scam ICO's that's what I believe are raising too much and don't deserve our support.

[Jating]

Hey, I'm interested in everyone's opinions on this. I find so often when looking for ICOs I come across something that sounds like a good idea but then am instantly put off when they all seem to trying to raise 10s of millions for something I would deem could be perfectly possible with only a couple of million or even less.

 Do you feel that ICOs tend to try and raise too much? If yes, do you think this is out of greed for their own personal gain or simply because they over estimate the worth of their idea?

Yes. I agree. Its looks like they are on a race on what ICO could raise millions in just a few days which tend to lose what ICO really means. I agree that they need to raise, but millions in like a few days in unheard. And sometimes we tend to see some ICO to be a scam when they raise millions.

Do you feel there is anything we can do as a community to bring expectations back to reality? Other than waiting for ICOs to continually under perform and then eventually expectations adjust?

As a community we just need to call what's need to be called for. If we see that the ICO who have raised so much without any significant to offer then we need to call it and raise awareness.

[Spoetnik]

I love the wonderful little noob speculations as to WHY.
Only thing missing is even ONE of the so called "dev's" to see this and respond.
I am guessing not one will say a fucking word. 

I love the idiotic replies.
My favorite is they must have "calculated" they need 50 million dollars.
Nice assumption.
I don't suppose they calculated the cost of the lambo into that huh ?

Fucking jesus tap dancing christ this is some idiotic retarded moronic fucking bullshit from hell. 
This is some internet next level gen of stupidity and greed going on here.
It's least it's humorous though. 

[2bfree]

I think some ICO's are scum they just steel from suckers!

[aljazstraser]

Too many people see ICO as quick and easy fundraising. WP, Landing, team with names and thats it.. Hardcap is always about the people you get in team. If you get Vitalik in, you could put it to 100M..Thats why people are trying to put on blockchain every damn s***. They don't even ask if solution they are providing could change or help improving current status? Can this be solved without blockchain? Doesn't matter, just get some crypto guys as advisors and you don't need working product at all!

[nomad1109]

Some of them are just trying to grab as much as they can, yeah. Other actually have plans for all the money, and different scenarios for different sums raised. However, if you are trying to raise 100M USD, you better have one hell of a campaign going.

[krigger]

This question doesn't even make sense. ICOs are entitles to try to raise as much as they want. There is no set limit for how much they can raise or what number or goal they set for themselves to raise. At the end of the day, it all depends on the willingness of investors who see potential to give them money or not, so the amount they want in the beginning doesn't even matter, because it could be more or less in the end.

[Spoetnik]

I think some ICO's are scum they just steel from suckers!

Nope.

You see all 100% of these guys are fully aware of what is going on.
Nobody is getting duped and tricked into supporting a coin.
They do it and go in willingly in the hopes of profit.
Hence why this shit is a new age digital ponzi / pyramid scheme.
ALL OF IT !
Crypto is a ponzi / pyramid machine for teh ROI's.
It's why all the noobs here showed up.

I have said that probably a thousand times here on the forum in the last 5 years and you all still play stupid.

You all will gladly line up to support Paycoin until it becomes embarrassing and you worry the price will tank..
Then you will dump and show up bashing it calling it a scam.
But before that you were on your knees.

Your actions betray you Investards.
You can't wiggle out of it with cliche'd bullshit retorts on a forum.
Reality itself is crystal clear and free to see for all forever.

When you say what is quoted you are preaching to the investard-choir.
You learned the cliche'd retort and you are teaching it to the other greedy profiteers so they too can keep chanting their shitbird chucklefuck pajeet crypto-mantra.
But all of earth sees straight through it.
It's simply instructing users on how to operate within the pyramid scheme system that is crypto.

Noobs show up and they learn these same old dumb fuck cliche'd retorts and they think they are working.
Problem is the people here don't care.
They are already sold on greed and don't need to be convinced of anything.
The morality game is a facade.. unless i do it of course.
And i can say that because i am probably the only one in crypto who never had anything to do with an ICO coin.

So no ..there is no profiteers being tricked.
You can't rape the willing Investards  
These kidiots know damn well there is risk but the high profit potential over rides the integrity they are SUPPOSE to have.

In case you didn't figure it out i am smarter than all of you combined.
But to be fair i think many more around the globe just don't come here and speak up.
Smart people with class & integrity would not be here doing this shit.