ICO - Getting Expensive than ever

[Coco500]

Hello everyone,

I was talking to couple of genuine entrepreneurs who have issued ICO. They are saying that the market has been very tough as there is so many ICO , many scammers who are willing to spend money to advertise and expand their reach.

This has led small entrepreneurs to suffer. How can we help with this problem , any suggestions ?

[goinmerry]

Hello everyone,

I was talking to couple of genuine entrepreneurs who have issued ICO. They are saying that the market has been very tough as there is so many ICO , many scammers who are willing to spend money to advertise and expand their reach.

This has led small entrepreneurs to suffer. How can we help with this problem , any suggestions ?

Face the risks and show them what they got.

Try everything they got to promote the technology of their ICO. Compete even how hard it is. It will really hard on the way since lots of concerns have to be put on the table. Just go with the proper advertisement and make the best out of it.

[nightmanisrightman]

The problem isn't ICO being expensive but scammy and yeah they are more scammy than ever and that is because people continue to throw money at obvious scams or clever disguised scams. Until this stops the scamming behaviour won't stop. Ie it is on us to do research in order to sift out these scams and until that happens scams will continue to happen.

[Tylev]

There's nothing special you can think of. The law of the market works. Who invests more in the advertising of his product, he often wins. In this case, you need to show the benefits and usefulness of your project. This is the only way to achieve success.

[Murloc]

Once I've seen the prices of one crypto related local website. They charged about 4 BTC for posting 1 single article. Also with all the recent with exchanges listing prices are also pretty high. As I've seen the price over 50k$ can still concidered to be low. The issuing of a coin / token may still have the same price (or baybe become even cheaper) but the prmotion if insane.

[Coco500]

Hello everyone,

I was talking to couple of genuine entrepreneurs who have issued ICO. They are saying that the market has been very tough as there is so many ICO , many scammers who are willing to spend money to advertise and expand their reach.

This has led small entrepreneurs to suffer. How can we help with this problem , any suggestions ?

Face the risks and show them what they got.

Try everything they got to promote the technology of their ICO. Compete even how hard it is. It will really hard on the way since lots of concerns have to be put on the table. Just go with the proper advertisement and make the best out of it.

Innovator's journey I suppose, Its just seems like scammer are able to get away all the time.

[cryptofirm]

support only some serious project, with real team and clear roadmap as the future plan for the project
also good whitepaper that easy to understand for everyone

[Coco500]

The key to solve the problem is research, especially since may people don't bother do research about the ICO that they're gonna invest or fooled by news/hyped.
Some basic stuff to research including :
1. Whitepaper. Most scam ICO usually have don't have or have bad quality whitepaper which can be spotted easily.
2. Roadmap.
3. Goal/Vision.
4. ICO's team.
5. How they promote. I've seen some obvious scam ICO which promote fast profit or return, and obviously it's fake.

But, even they have solid goal with competent team, doesn't mean the ICO will be success though. If those entrepreneurs don't bother to do research or don't want to take risk, they shouldn't invest in ICO.

I agree , Research is very crucial. Talking to some entrepreneur they were telling me that the minimum budget for an ICO is 100K atleast.
 
Regarding the white paper , have you seen many ICO draft whitepaper so technical that they almost trying to confuse the investor.

[Holla123]

Hello everyone,

I was talking to couple of genuine entrepreneurs who have issued ICO. They are saying that the market has been very tough as there is so many ICO , many scammers who are willing to spend money to advertise and expand their reach.

This has led small entrepreneurs to suffer. How can we help with this problem , any suggestions ?

well maybe present the project here in detail. I sometimes read into the Ethereum thread which by now of course is quite long. Every project needs good marketing. PM me if you want. I am part of a bigger pool group. I could check for interest there as soon as you forward details on the project.

[saintkamei]

From my experience most ICOs with solid projects tend to receive better traction and responses. I am talking about ICOs as recent as VIBE and SOPHIATX. You really need to place yourself in such a way that investors not only view you as a good project but one they can't miss out. While marketing is important, it isn't as important as the quality of the project(s) and the team. Smart people do not just part with their money easy.

[Coco500]

The problem isn't ICO being expensive but scammy and yeah they are more scammy than ever and that is because people continue to throw money at obvious scams or clever disguised scams. Until this stops the scamming behaviour won't stop. Ie it is on us to do research in order to sift out these scams and until that happens scams will continue to happen.

The tradegy of 2017 was most of the scams got funded and real project who really wanted to innovate suffered because they didnt have any funding. I almost feel an ICO to help real ICO would be a success :-P

[spring07]

NO doubt 2017 saw an unprecedented release of too much ICO out of which more than 50% ended up being a scam. To say the truth, i am beginning to loose interest in ICO. I would rather wait for the coin to hit exchange and get listed on CMC then i buy.

[mummybtc]

I believe greed is driving the whole show now, to get listed on all these ICO alerts websites you need to pay money, Youtube channels ask for money, to get listed on exchnages you need money, so if you look at the whole package it all cost money and this make running ICO more expensive than the time past

[slaman29]

It hasn't changed the scene for small entrepreneurs. If your idea is really good, and you work hard and work long at it, eventually it will get the recognition it deserves. Don't forget that a lot of successful blockchain projects and cryptocurrencies started from nothing. No ICOs, no paid developers. No paid promotion or paid marketing. Just good old solid hard work.

ICOs were the easy solution for corporations and businesses to expand. Reverse ICOs are the new trend for "decentralizing" a business.

[rayk]

ICOs must be expensive because they can raise a lot of money and among lots of ICOs, it is hard to reach the people because most don't look for good projects but hype, profit opportunity. Most sell their coins right after the projects issues their coins so they need to create a hype which costs a lot for them.

[cryptocrusher]

Hello everyone,

I was talking to couple of genuine entrepreneurs who have issued ICO. They are saying that the market has been very tough as there is so many ICO , many scammers who are willing to spend money to advertise and expand their reach.

This has led small entrepreneurs to suffer. How can we help with this problem , any suggestions ?

We as investors can make sure we take our time to consider our options and stop throwing are money at everything and then such scam ICOs won't make substantial amounts and there'll be no need for people to try. The market is driven by us, if we continue to feed their greed with stupidity then they will keep taking our money, to the detriment of the real projects out there.

[Coco500]

Exactly, The market is driven by this forum, and most of the genuine investor come from this forum itself. I was talking to an ICO owner who was explaining his pain promoting his ICO when some ICO listing pages are asking 20 ETH to appear on the front page. Ridiculous !

Short term speculation is great with ICO, but good project take time to show value. Some investors only focus on short term speculation rather than investing in meaningful project which is giving money to the wrong hands.

What are your thoughts of running an initial draft of the ICO in this discussion page by the investor, this way we can get the opinion of the investor and their concerns. So only the relevant information are  highlighted on the whitepaper, rather than filling it with technical BS that is meant to confuse non tech investors.

Thanks

[L1240erion]

The key to solve the problem is research, especially since may people don't bother do research about the ICO that they're gonna invest or fooled by news/hyped.
Some basic stuff to research including :
1. Whitepaper. Most scam ICO usually have don't have or have bad quality whitepaper which can be spotted easily.
2. Roadmap.
3. Goal/Vision.
4. ICO's team.
5. How they promote. I've seen some obvious scam ICO which promote fast profit or return, and obviously it's fake.

But, even they have solid goal with competent team, doesn't mean the ICO will be success though. If those entrepreneurs don't bother to do research or don't want to take risk, they shouldn't invest in ICO.

Agreed. We should be breeding a culture of due diligence instead of taking companies at face value. There's nothing wrong with advertising because great projects like Polymath are doing it because of the world they're getting into.

[Ging]

indeed i think that could gappen with an ico but there are ico projects which dont set a high initial amount of fund to paryicipate as such indahash i think. if that what you have meant.

[Mrs Troll]

If small entrepreneurs wish to raise alot of money without best idea ever this looks like scam for most investors and we cann't do anything Just get easy your 1 million dollar with not bad and rather unique idea and don't try to raise 40 millions with one more blockchain taxi and no name team...