Over 90% of ICOs are a scam

[bohr]

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I do not know if that is accurate, most icos will fail that is correct but there are more ways to fail than a project being a scam, the developers may not have the ability to make a project successful, the project is simply too revolutionary, the project lacks a good marketing campaign and it fails, another project appears and displaces them, as you can see there are many reasons besides being a scam of why an ico projects fail.

[RondoAnyar]

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I do not know if that is accurate, most icos will fail that is correct but there are more ways to fail than a project being a scam, the developers may not have the ability to make a project successful, the project is simply too revolutionary, the project lacks a good marketing campaign and it fails, another project appears and displaces them, as you can see there are many reasons besides being a scam of why an ico projects fail.

failures can occur in a project because of several factors such as lack of preparation of the team and developers, because at this time a lot of new teams that have not experienced in ico so I see it reasonable to be called as scam ico because the achievement is not good and failed .

[Mattacoin]

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

Vitalik pulled that number out of somewhere, over 90% of statistics are made up. You also don't have to give money, you can get airdrops or get bounties. Also, is Ethereum really money? I would think less than half are scams but most are pipe dreams.  Calling something is SCAM is quite an accusation and is libel, if you think something is a scam, report it to the police, mention it directly and don't hide. To paint 90% of ICOs as scams is ridiculous. Sure 95% wont succeed, they are copycats and have weak teams. Hopefully due diligence can help a savvy investor pick out a much higher percentage of winners than 1/20. I hope to profit off 1/3 of my ICOs and profit immensely in 1/10.

The world is cracking down on ICO scams, take a look at QSP (QuantStamp) and ICO check, the US government, Facebook and other entities and coins that are looking at ending this fraud. Do your research!

[yanxuanyunshan4]

I object to that. There are some scams, but most ICO is real. If 90% is a hoax, no one will work for any reward.

I can understand that 10 percent of an ICO is a good project that will give you 5--10 times the return on your investment.

[Bybox]

Yeah it is true but you need to know that we can still make profit from scam ICO so nobody care about it for short term. If the investors and community believe in the project then the price will increase since most of the ICO didn't have any MVP yet so you can considering that 90% are scam.

[JetSet11]

I was surprised by the high number, but I suppose that it's true. I mostly just stick to ICOs that are curated by sites like ICOdrops, so I usually avoid the scams.

[Cookies_N_Cream]

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

Someone also told me a month ago that 90% of ICOs focuses only to the benefit of the company or the developer. I think this is predictable since most ICOs are there only because of profit, turning all investment into a scam after later months to years. We can't really blame those investors who participated on ICOs as they see the project promising because they are also after some profit.

[Cashcash]

If we invest in the right ICOs; both bad ICOs will be reduced and we will have made money.

[kbit9311]

Crypto market has grown more widely.In this context many project more than 2000 ICO has come out.But many is not real projects.Some are SCAM .I also had to work on these kind of work.At first I could not way to know about it.But I got some sign from those projects;

1.No proper team and advisors.
2.No update in social media and TG
3.Promote the project until end of ICO
4.Colofull website without proper information
5.Fake person with fake  accounts
6.No proper roadmap
7.No main idea about the project

These are the few things that I could be able to know about it.If you are on this kind of project say "Bye"...

[sujeewacrypto]

Peoples need high income with low invest. that's why lots of peoples try to invest in ICO. most of ico are fake but some one are good and they gave good chance to create money. Best thing is to study as much as the ICO and then invest as much you can risk. There are no reward without any risk.

[captain8]

Maybe its true, maybe they are not scams just setting their sites too high,

Anyway use ICO's as an easy way of doing a x2, then get out and invest in something you are comfortable with

[Zandra]

I don't think 90% of ICO are fake, honestly I'm not convinced that. There are many ICO that are really good, reliable and give you a x5 to x10 profit and yes there a some fake ico, I think 50 percent. And to avoid scam or fake ICO be careful and check the Team, if they have experience on what their doing and the project their made.

[SpringfieldM1A]

I hope some good people will list all of this scam ICOs and posted it for awareness along with names of devs. It is a big disappointment for cryptos.

It's actually a great idea, it would take way too much research and it would be hard to identify a scam from time to time... So rather than calling out current icos, a database could be created. A database of past scams so looking at that would give people an idea of what scams look like, what do they have in common and such... Hear us out devs, this is a gold mine for you!

[Bessta]

Failing is not synonymous with scam.  Let us be very careful in choosing the altcoins we invest with. There are ICOs that really fail because the teams that  are responsible for the overall aspects of the project do not possess the technical expertise on how to develop their projects as envisioned, projects do not have the community and market support,  insufficient marketcap and a lot more which contribute to the success of the alts being offered to investors. Now on the ico scams, we can only hope that their proliferation would end soon because mors people are being victimized. I wish there will be caught and get punished.

[bananadines]

Yeah we are in really bad times for ICOs, because there are a lot of scammers that just wanna make some quick bucks. But there are also nice ICOs that are doing great stuff and they are very trusted!

[Casabrandy]

Yeah we are in really bad times for ICOs, because there are a lot of scammers that just wanna make some quick bucks. But there are also nice ICOs that are doing great stuff and they are very trusted!

Bad crypto took place this quarter, but it definitely takes longer, it will arise soon enough that we didn't even notice it. Better start buying at this dips and took time to study most potential coins.

[alko89]

Even if les than 90% of ICOs are scam, 99% of them will probably fall. ICOs are basicaly kickstarter on steroids.

[SpringfieldM1A]

Ah c'mon now! %90? That is completely make believe. Ok yeah, there are more scams than it should be. But it's not %90. Even if you add failed ICO's to scam ICO's still you can't reach a percentage like %90. That number is seriously made-up.

[puremage111]

The founder of ETHEREUM said that over 90% of ICOs are scams. By participating in an ICO, you give your money to a project that probably will never happen. Every day a new ICO comes out ... but what surprises me is that many people invest their savings in these very high risk projects. I think it is much better to invest in real projects already listed on the stock exchange .... of which you know everything well ... For example, BANKERA looks like an ICO scam .....

I wouldn't say 90% of ICO is scam because 90% is way too much
However, i would say more than 50% of ICO would end up not able to produce great platform/product as mentioned in their whitepaper because most of it are way too futuristic

[proexcept]

I was surprised by the high number, but I suppose that it's true. I mostly just stick to ICOs that are curated by sites like ICOdrops, so I usually avoid the scams.

I'm also very surprised. But I don't believe that this figure is true. It seems to me that there are a lot of good and strong projects among ICOs. In most cases, developers fulfill their responsibilities and pay investors the promised coins. I have a very positive experience of participating in ICOs. But perhaps I don't have much experience yet.