ICO's & new coins. Could this millionaire plan work?

[Radius111]

Hi Guys,

Recently I met a lot of people who are making big money (compared to me) buying pre-sale coins in ICO's and selling them on Exchanges for maybe double the price or more. Some of those also invest in relatively new coins with a low marketcap as I may believe what they say.

Ian Balina promoted this and he is talking about the possibility to become a crypto-millionaire in about a year time.

I think of this strategy

1- Find out which ICO's are active, are upcoming and check if they have the pre-sale option.

2- Get pre-sale tokens, go for the ones that give you 50%, 70% or even 100% bonus.

3- Study the whitepaper and the team and determine if the concept is perfect for blockchain and see if it can be a Scam or not.

4- Look for a low hardcap. ( how to determine if the hard cap is low? )

5- Ask questions to the team and see if the ICO is popular.

6- Find out when the ICO is launched on exchanges and the names of the exchanges.

7- Register, login to that Exchange and wait for the coin to be visible.

8- Is your money more than double the ICO price? Cash out. Is your money less than double? Leave it there and see what is does. Is your money 5 times double?
Cash out. leave maybe 10% (or more) on that currency or wait until it doubles more because Exchange    members will buy the coin.

9- Spread you profits and put your money in more ICO's and repeat until you bought a lot of ICO's in a time-period of 1 year.

10- Buy New Added coins in exchanges where you believe in and ride with the popularity and repeat the previous steps.

A small calculation example where the start budget is $200 and in this example the aim is to at least double the ICO price:
Aim is to double the ICO price and cash out.

1st  ICO: buy coins for $200 cash out at $400
2nd ICO                      $400                  $800
3rd  ICO                     $800                   $1600
...repeat this and you'll have this
1: $400
2: $800
3: $1600
4: $3200
5:  $6400
6:  $12800
7:  $25600
8:  $51200
9:  $102400
10: $204800
11: $409600
12: $819200   
13: $1638400 > Cryptomillionaire

Let's make it 20 ICO's for sure, you never know when an ICO price doesn't double.
If you begin with investing in 1 ICO a month and work your way to buying more ICO in future you need maybe 1,5 year to become a crypto millionaire.

Ofcourse this looks maybe too easy, and every bought ICO should have its price doubled at least.

Do you think this can work?
How would be your plan?

2 Questions
How do you consider a marketcap as low?
How likely is it for an ICO bought in pre sale to have its price doubled when on Exchanges?

I am looking forward to your ideas & replies.

Thanks to you all!

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[kevoh]

Do you think this can work?
How would be your plan?

The chances of this permutation working is 50-50 ! Factoring in the fact that some ICOs can disappoint you and make you lose your funds, in the case of hacked website and/or accounts or just the project executive team running away with the money gathered at ICO with some lame excuses.

[squatz1]

Nope, you want to know why this won't work? Because the amount of return that you're going to get on all of these news ICO's is going to decrease as time goes on, and the reason being is that more and more people are just offering ICO's in order to make a few bucks quick and then run away -- making all of the investors lose out on a good amount of cash.

If  this is something that goes mainstream, which it probably will as more and more scammers and con artists are entering a place which is ripe for them. Then you're going to end up losing money or making a minimal amount.

[Reatim]

It won't work based on your assumption and permutation. If you are lucky, it will only work 3-4 levels deep and after that the difficulty would increase against your favor. This is like martingale system in gambling.  . And you can't really double your money unless you are very very lucky to invest on a ICO that will gave you that amount in short amount of time.

Do you think this can work?
How would be your plan?

The chances of this permutation working is 50-50 ! Factoring in the fact that some ICOs can disappoint you and make you lose your funds, in the case of hacked website and/or accounts or just the project executive team running away with the money gathered at ICO with some lame excuses.

Exactly, there's still a chance that you can invest on a ICO can will take off with your funds. There's are hundreds of reasons to earn and become millionaires from ICO but it will take amount of money + risk + luck. Better just to hold on your coins long term that investing on ICO this way.