Bitcoin Forum
September 26, 2018, 12:02:43 PM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: ICO Research Checklist and Resources  (Read 50 times)
Castlereagh
Member
**
Offline Offline

Activity: 154
Merit: 20


View Profile
February 15, 2018, 12:38:18 PM
 #1

Hi there,

With the huge boom in number of ICOs and projects in the pipeline, it's becoming increasingly hard to discriminate between good projects and ones that will just go up in smoke. The key difference between investors that consistently back ICOs that gain, and those that end up with a patchier hit rate, I think, comes down to how much time they spend doing due dilligence, and how rigorous they are with it. To help anyone who is into ICO hunting and investing, I thought it might be worthwhile to list some of the questions I ask myself when I am researching - and some of the procedures I go through. I'd also be very grateful if anyone else could share their own tips - as I am by no means an expert, and I always like to be learning new things.

OK, so you have come across an interesting new ICO... so:

Key Questions

First steps
•   Study the white paper, supporting documents
•   GitHub repository - how active, how up to date?
•   Can the idea behind the project be summed up in a 1 sentence elevator pitch? If not, it might be too convoluted.
•   Determine is the idea viable and big enough to become something great?
•   Ask yourself: does the project need to be done on Blockchain? Is it really necessary to create a new cryptocurrency for its work or is it just trying to jump on a trend? [thanks Porfenovich]
Team
•   Speak/contact directly with the development team - are they even reachable, how do they conduct themselves?
•   The team – who are they, what’s their background, are they real people, what are their links to previous projects, people – good or bad?
•   Where are they from? How positive is their native country's stance on crypto - how likely is a ban/regulation?
•   Why are they doing this?
•   What are their motives? What do they get out of it?
•   What is their vision?
Use Case
•   Does it solve a real problem of any kind - or provide a service otherwise unavailable?
•   Real-world usability and utility?
•   Is it a product, system, infrastructure, currency, store of value, payment system?
•   Is it a security – or will it be a security in the eyes of the law down the track?
•   What purpose does an ICO serve or what functionality does the token have to give it potential for appreciation in purchasing power or utility?
•   Will it be easily stores, secured, transferable and tradeable on major exchanges?
Network
•   What is the current network value?
•   What is the future network value?
•   What is the timeline for distribution and the likelihood of success?
•   Is there a sufficient community behind it – or displaying growth of community?
•   How decentralised is it really?
•   Does it have widespread, mass market appeal to the ‘non-bitcoin’ person in the street?

Reviews

I'd then advocate getting some other opinions so it can be worth checking out scores on:
https://icorating.com/ico/?filter=upcoming
https://icobench.com/
https://cryptorated.com/ico-reviews/

Social Media and Hype

You can do some basic social media analysis just by hopping on Twitter and Facebook and looking at their accounts and the buzz. Also pays to check if they are running a bounty campaign here on BitCoinTalk.

If you'd like to do some slightly more advanced Social Media analysis, I wrote a tutorial on using Social Mention to do so here: https://bitcointalk.org/index.php?topic=2955334.msg30331097#msg30331097


So there we have it - I hope there something useful in there for aspiring ICO hunters. Please do share your own tips and process as that would likely help me - and I am by no means an expert.



1537963363
Hero Member
*
Offline Offline

Posts: 1537963363

View Profile Personal Message (Offline)

Ignore
1537963363
Reply with quote  #2

1537963363
Report to moderator
1537963363
Hero Member
*
Offline Offline

Posts: 1537963363

View Profile Personal Message (Offline)

Ignore
1537963363
Reply with quote  #2

1537963363
Report to moderator
Einax Airdrops and Bounties made easy! List your ERC-20 token
FREE
ETH markets launching soon!
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537963363
Hero Member
*
Offline Offline

Posts: 1537963363

View Profile Personal Message (Offline)

Ignore
1537963363
Reply with quote  #2

1537963363
Report to moderator
porfenovich
Jr. Member
*
Offline Offline

Activity: 179
Merit: 1


View Profile
February 15, 2018, 01:03:11 PM
Merited by Castlereagh (1)
 #2

Hi there,

With the huge boom in number of ICOs and projects in the pipeline, it's becoming increasingly hard to discriminate between good projects and ones that will just go up in smoke. The key difference between investors that consistently back ICOs that gain, and those that end up with a patchier hit rate, I think, comes down to how much time they spend doing due dilligence, and how rigorous they are with it. To help anyone who is into ICO hunting and investing, I thought it might be worthwhile to list some of the questions I ask myself when I am researching - and some of the procedures I go through. I'd also be very grateful if anyone else could share their own tips - as I am by no means an expert, and I always like to be learning new things.

OK, so you have come across an interesting new ICO... so:

Key Questions

First steps
•   Study the white paper, supporting documents
•   GitHub repository - how active, how up to date?
•   Can the idea behind the project be summed up in a 1 sentence elevator pitch? If not, it might be too convoluted.
•   Determine is the idea viable and big enough to become something great?
Team
•   Speak/contact directly with the development team - are they even reachable, how do they conduct themselves?
•   The team – who are they, what’s their background, are they real people, what are their links to previous projects, people – good or bad?
•   Where are they from? How positive is their native country's stance on crypto - how likely is a ban/regulation?
•   Why are they doing this?
•   What are their motives? What do they get out of it?
•   What is their vision?
Use Case
•   Does it solve a real problem of any kind - or provide a service otherwise unavailable?
•   Real-world usability and utility?
•   Is it a product, system, infrastructure, currency, store of value, payment system?
•   Is it a security – or will it be a security in the eyes of the law down the track?
•   What purpose does an ICO serve or what functionality does the token have to give it potential for appreciation in purchasing power or utility?
•   Will it be easily stores, secured, transferable and tradeable on major exchanges?
Network
•   What is the current network value?
•   What is the future network value?
•   What is the timeline for distribution and the likelihood of success?
•   Is there a sufficient community behind it – or displaying growth of community?
•   How decentralised is it really?
•   Does it have widespread, mass market appeal to the ‘non-bitcoin’ person in the street?

Reviews

I'd then advocate getting some other opinions so it can be worth checking out scores on:
https://icorating.com/ico/?filter=upcoming
https://icobench.com/
https://cryptorated.com/ico-reviews/

Social Media and Hype

You can do some basic social media analysis just by hopping on Twitter and Facebook and looking at their accounts and the buzz. Also pays to check if they are running a bounty campaign here on BitCoinTalk.

If you'd like to do some slightly more advanced Social Media analysis, I wrote a tutorial on using Social Mention to do so here: https://bitcointalk.org/index.php?topic=2955334.msg30331097#msg30331097


So there we have it - I hope there something useful in there for aspiring ICO hunters. Please do share your own tips and process as that would likely help me - and I am by no means an expert. If this article has helped you in any way, please do consider sending me a merit or two as I just hit enough activity to be a member - and I'd really appreciate the help getting to 10.  Grin






Yeah, indeed everything is true. because choosing a worthy ICO from the crowd is a tricky task. I think that here it’s essential to understand  everything you've written above and that ICOs are considered high-reward but also high-risk investment ventures.
I would do the same things but first of all, I would ask myself: Does the project need to be done on Blockchain? Is it really necessary to create a new cryptocurrency for its work?

 If there’s a real need to do everything on Blockchain and it hasn’t been started solely for the purpose to stay on trend, then this idea is definitely worth reviewing and once can proceed.
Castlereagh
Member
**
Offline Offline

Activity: 154
Merit: 20


View Profile
February 15, 2018, 03:03:06 PM
 #3

I agree 100% mate. I think that's a very good point - and I'll actually add that to the list (crediting you obviously).

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!