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bitcrumb
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January 24, 2018, 11:46:24 AM
 #1

Are all of these recent icos good for the economy of crypto? I have seen a couple of brilliant one's (ethlend). But some, are garbage.
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January 27, 2018, 07:13:01 AM
 #2

Are all of these recent icos good for the economy of crypto? I have seen a couple of brilliant one's (ethlend). But some, are garbage.
The good ones are not bad for the economy, but as for the sh*tcoins (well, I don’t even know if they are bad for the economy of any country, but one thing I do believe is that whenever any country is losing, another is gaining. And the bad thing that will happen when people start investing in these bad icos is that they will end up.losing their money.
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January 27, 2018, 11:53:05 AM
 #3

It's good for the economy of crypto but not those who are bad ones or the scammers. My suggestion is, they should ban it now for creating new ICO's, because the investors can't choose where to invest because there's so many ICO's now and most of them are scam. And only the trusted or the top 20 ICO's will remain.

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January 27, 2018, 12:14:04 PM
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 #4

ICO marketing is turning into an industry of its own, no matter how bad your idea is, how non-implementable your roadmap is, how economically unsustainable your model is, still marketing is worth to get a few thousands of dollars and get away with it, this is what the majority of ICO boom is turning into. There are definitely some awesome projects, but you can't stop the bad ones from bloating the cryptospace, majority of them would collapse sooner or later. ICOs are in its initial stages, there would be brilliant/good/average/bad/scam projects, but I think once the cryptospace has a steady flow of brilliant and good ICOs, no one would bother about the bad ones.
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January 27, 2018, 12:24:33 PM
 #5

Totally not.
Think about it like that, any ICO that comes out, adds value to the market cap, which means that it deducts value from crypto currencies such bitcoin/ethereum.
People that wishes to buy the ICO tokens, convert their bitcoins/ethereum into the tokens, and the ICO managers sells the Bitcoins/Ethereum into fiat, which means money that goes out of the crypto market.
ICOs are not good for the long term.
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January 27, 2018, 12:32:25 PM
 #6

ICO marketing is turning into an industry of its own, no matter how bad your idea is, how non-implementable your roadmap is, how economically unsustainable your model is, still marketing is worth to get a few thousands of dollars and get away with it, this is what the majority of ICO boom is turning into. There are definitely some awesome projects, but you can't stop the bad ones from bloating the cryptospace, majority of them would collapse sooner or later. ICOs are in its initial stages, there would be brilliant/good/average/bad/scam projects, but I think once the cryptospace has a steady flow of brilliant and good ICOs, no one would bother about the bad ones.

And sadly people are wasting their money in these types of projects knowing that it could end up being a total scam and the dev/coin team would be running away with their money. The number of ICOs that I see that would have no practical use for people nowadays have increased worryingly, that's why the government also became strict on ICOs popping here and there and other countries just banning them at all. This is the lowest point of crypto, I should say, since most people care about their profits only and the actual purpose of cryptocurrencies have been forgotten.

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January 27, 2018, 12:36:45 PM
 #7

Are these current icos useful for the economy of crypto? I have seen several splendid one's (ethlend). In any case, a few, are waste.
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January 27, 2018, 12:42:32 PM
 #8

It's good for the economy of crypto but not those who are bad ones or the scammers. My suggestion is, they should ban it now for creating new ICO's, because the investors can't choose where to invest because there's so many ICO's now and most of them are scam. And only the trusted or the top 20 ICO's will remain.

That is unfair. The reason why people are being scammed because they are not responsible for the money they are spending. How can anyone knows a project is a scam? They will really find a way to avoid their scam project to be identified by the people. What we need investors to do is to be responsible, we must really study where we put our money. This scammers will not stop as long as there are a lot of people who wants to earn and do not know the difference between a scam project and not.

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January 27, 2018, 12:49:49 PM
 #9

One spoon of tar spoils a barrel of honey. On the market ICO is very much a Scam. Any good thing can be spoiled by several scammers. Trust is hard to earn and easy to lose. In the form in which now there is a system of ICO she has no prospects. Investors are afraid to invest money even in a promising project because it's impossible to prove.

 
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January 27, 2018, 12:50:08 PM
 #10

Are all of these recent icos good for the economy of crypto? I have seen a couple of brilliant one's (ethlend). But some, are garbage.
Certainly useful. The market will sift out unnecessary projects. It's a offensively
 for investors who participate in the shitICO. I want to say that those projects that remain on the market will determine the right direction for the development of the industry

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January 27, 2018, 12:57:38 PM
 #11

Are all of these recent icos good for the economy of crypto? I have seen a couple of brilliant one's (ethlend). But some, are garbage.

ICO is best business model that can help grow the blockchain itself unless and until it is well plotted project. But most of the time ICO projects are not upto the mark leaving behind loads of funds locked up into scammers account. There is not single person but hundreds of them who might disturb the economy of crypto specially bitcoin and ethereum by dumping the whole funds that were raised through ICO projects.

This is similar case with the whales selling their shits of loads into bad times and thus shaking the whole crypto upside down.

In short, it’s not worthy for the economy of crypto. What worthy is to let the development of blockchain takes place with holder investment and we advance in the crypto tech more.

That’s the thing needed for the crypto to grow, not the ponzi like ICO’s.
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January 27, 2018, 01:02:34 PM
 #12

Are all of these recent icos good for the economy of crypto? I have seen a couple of brilliant one's (ethlend). But some, are garbage.
Not some, most of them are just shit and garbage. They started spreading like a disease and sprouting like a parasitic mushrooms. The forum is filled with it. Only few of them are noteworthy. The rest are just scams where the developers are looking to make some quick money. Bad ICOs do have a negative impact which cannot be neglected. They are just giving same bad name to the crypto community.


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January 27, 2018, 02:01:03 PM
 #13

The ICO system is very convenient as a tool. To find an investor in a close circle is possible, but there are ideas that require investment more than you are able to attract yourself. About fraud in ICO - fraudsters exist everywhere. If you want to try yourself in the role of an investor - evaluate the risks correctly - this will help to avoid losses.
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January 27, 2018, 03:00:56 PM
 #14

Are these current icos useful for the economy of crypto? I have seen two or three splendid one's (ethlend). In any case, a few, are rubbish.
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January 27, 2018, 04:09:34 PM
 #15

For the Crypto economy it's technically good, as there is even more money being invested, doesn't matter if the project is a junk or not... But then we need to ask ourselves what do we want, quality or quantity? I believe on long term quality always worth more than quantity, and in this case it reflects precisely on Crypto-Currency's reputation. If many junk ICOs appear, people will complain about it and will discourage new investors to join Crypto investments in general.

However, it's out of our control, what you can do is to choose not invest and let these projects die for themselves.
And at same time, advicing people to not invest as well.

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January 27, 2018, 05:26:34 PM
 #16

Bad ICOs are irrelevant to the state of the economy IMO. The money goes from one hand to another but it remains a part of the food chain, if you know what I mean.
If you go to the market and one guy is selling fresh apples and the other rotten ones and you end up buying a rotten one you still contribute to the economy. The seller will spend your money on the stuff that he needs and it will eventually end up in someone else's hands. Of course you will not benefit from that sale, but the economy isn't made for all people to be equal and all people to make money. 
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January 27, 2018, 05:53:51 PM
 #17

ICO marketing is turning into an industry of its own, no matter how bad your idea is, how non-implementable your roadmap is, how economically unsustainable your model is, still marketing is worth to get a few thousands of dollars and get away with it, this is what the majority of ICO boom is turning into. There are definitely some awesome projects, but you can't stop the bad ones from bloating the cryptospace, majority of them would collapse sooner or later. ICOs are in its initial stages, there would be brilliant/good/average/bad/scam projects, but I think once the cryptospace has a steady flow of brilliant and good ICOs, no one would bother about the bad ones.
Still, many people invest to the bad ones. I don't know if they just have a huge faith in it or they are just plain stupid. Mostly, the good coins are those whose idea is unique and many known people/investors in the crypto world invest in. Their tokens are being used in their actual use case or purpose so that can be considered a good one.

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January 27, 2018, 05:54:45 PM
 #18

The problem is impossibility to figure out quality of ICO, so anyone can just start next shitcoin without any consequences now. Hope this can be changed soon.
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January 27, 2018, 06:00:05 PM
 #19

The problem is impossibility to figure out quality of ICO, so anyone can just start next shitcoin without any consequences now. Hope this can be changed soon.

And how does that differ from the ability of a typical person to start a bad business? Paraphrasing your post, anyone can start a company that offers a stake in their fashion designing thing and as we all know most fashion designers make products that aren't being worn by anybody but the models. Yet, nobody prevents another weird designer to try to push their crazy ideas into the market. If you think that there will come a day when worthless things will stop being made then you're in for a nasty surprise.
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January 27, 2018, 06:13:23 PM
 #20

The problem is impossibility to figure out quality of ICO, so anyone can just start next shitcoin without any consequences now. Hope this can be changed soon.

And how does that differ from the ability of a typical person to start a bad business? Paraphrasing your post, anyone can start a company that offers a stake in their fashion designing thing and as we all know most fashion designers make products that aren't being worn by anybody but the models. Yet, nobody prevents another weird designer to try to push their crazy ideas into the market. If you think that there will come a day when worthless things will stop being made then you're in for a nasty surprise.

No, I don't think so, but a level of responsibility is a quite different when you disappear with investors money after IPO.
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