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Author Topic: [2018-02-24]46% of Last Year’s ICOs Have Failed Already  (Read 40 times)
vit05
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February 25, 2018, 04:13:46 AM
 #1

It has always been assumed that a large number of ICOs will fail, be it at the fundraising stage or when it comes to delivering the actual project. It’s hard to settle on a precise figure, however, as most dubious ICOs don’t exit scam: they slowly tiptoe away, like a sneak thief rather than a smash-and-grab robber. Having completed an extensive study into last year’s crowdsales, news.Bitcoin.com can report that 46% of them are effectively dead already – despite raising over $104 million.

Also read: FBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack

ICOs Are Even Riskier Than You Think
Given enough time, everything withers and dies, from the most robust institutions to the most popular crowdsales. No one expected all of 2017’s ICOs to last the course. The pace at which they’ve withered and died may come as a surprise though. Tokendata, one of the more comprehensive ICO trackers, lists 902 crowdsales which took place last year. Of these, 142 failed at the funding stage and a further 276 have since failed, either due to taking the money and running, or slowly fading into obscurity. This means that 46% of last year’s ICOs have already failed.

The number of ICOs that are still a going concern is actually even lower. An additional 113 ICOs can be classified as “semi-failed”, either because their team has stopped communicating on social media, or because their community is so small as to mean the project has no chance of success. This means that 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.

46% of Last Year’s ICOs Have Failed Already
Some of the many failed ICOs listed by Tokendata.
A Digital Graveyard of Broken Promises
Trawling through 900 ICOs in one sitting is a deeply depressing experience, news.Bitcoin.com can report. Abandoned Twitter accounts, empty Telegram groups, websites no longer hosted, and communities no longer tended are par for the course. A digital graveyard, complete with metaphorical tumbleweed, characterizes the crop of 2017 that decided to take the money and run. Many raised zero; some raised a couple of thousand dollars; and a handful raised over $10 million. In each case, the end result was the same though: no MVP, no alpha release, and no contribution to the decentralized web for the betterment of humanity.

Many of the dead ICOs were doomed from the start. It will come as no surprise to learn that projects such as Clitcoin, Neverdie, and Zero Traffic didn’t make it. (Update: Neverdie has since been in touch to claim that reports of its demise are premature.) Some, which fell flat at the fundraising stage, are doing it all over again this year and hoping that 2017’s failure can be written off as a trial run. Freight trucking platform Doft is one such example. Looking at the countries of origin for failed ICOs shows that developing nations – and an entire continent in the case of Africa – are over-represented. Nevertheless, every major country and continent features in the list of shame.

46% of Last Year’s ICOs Have Failed Already

Lessons Learned
Many of the 531 ICOs that have failed or are failing from last year looked sketchy from the very start. In most cases, investors were able to spot the signs and steer clear. Not everyone escaped unscathed though: these projects still raised $233 million between them. With ICO mania showing no signs of abating, there’s no reason to expect this year’s crowdsales to fare any better. Thanks to diminished returns, increased competition, and a never-ending stream of opportunistic ICOs, crypto investing in 2018 is riskier than ever.


https://news.bitcoin.com/46-last-years-icos-failed-already/
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February 25, 2018, 04:17:26 AM
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So I guess what I can take out of this is I'm a God damn genius when it comes to investing in ICOs. 46%!? Really?! That's insane! I have two that I did okay on, like +10-30% in bitcoin value depending on the day, and another that I'm either double to quadruple on. So idk what people invested in, but obviously not what I invested in if they lost any money.
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February 25, 2018, 06:11:57 AM
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It has always been assumed that a large number of ICOs will fail, be it at the fundraising stage or when it comes to delivering the actual project. It’s hard to settle on a precise figure, however, as most dubious ICOs don’t exit scam: they slowly tiptoe away, like a sneak thief rather than a smash-and-grab robber. Having completed an extensive study into last year’s crowdsales, news.Bitcoin.com can report that 46% of them are effectively dead already – despite raising over $104 million.

Also read: FBI Arrests Exchange Operator for Lying About 6000 Bitcoin Hack

ICOs Are Even Riskier Than You Think
Given enough time, everything withers and dies, from the most robust institutions to the most popular crowdsales. No one expected all of 2017’s ICOs to last the course. The pace at which they’ve withered and died may come as a surprise though. Tokendata, one of the more comprehensive ICO trackers, lists 902 crowdsales which took place last year. Of these, 142 failed at the funding stage and a further 276 have since failed, either due to taking the money and running, or slowly fading into obscurity. This means that 46% of last year’s ICOs have already failed.

The number of ICOs that are still a going concern is actually even lower. An additional 113 ICOs can be classified as “semi-failed”, either because their team has stopped communicating on social media, or because their community is so small as to mean the project has no chance of success. This means that 59% of last year’s crowdsales are either confirmed failures or failures-in-the-making.

46% of Last Year’s ICOs Have Failed Already
Some of the many failed ICOs listed by Tokendata.
A Digital Graveyard of Broken Promises
Trawling through 900 ICOs in one sitting is a deeply depressing experience, news.Bitcoin.com can report. Abandoned Twitter accounts, empty Telegram groups, websites no longer hosted, and communities no longer tended are par for the course. A digital graveyard, complete with metaphorical tumbleweed, characterizes the crop of 2017 that decided to take the money and run. Many raised zero; some raised a couple of thousand dollars; and a handful raised over $10 million. In each case, the end result was the same though: no MVP, no alpha release, and no contribution to the decentralized web for the betterment of humanity.

Many of the dead ICOs were doomed from the start. It will come as no surprise to learn that projects such as Clitcoin, Neverdie, and Zero Traffic didn’t make it. (Update: Neverdie has since been in touch to claim that reports of its demise are premature.) Some, which fell flat at the fundraising stage, are doing it all over again this year and hoping that 2017’s failure can be written off as a trial run. Freight trucking platform Doft is one such example. Looking at the countries of origin for failed ICOs shows that developing nations – and an entire continent in the case of Africa – are over-represented. Nevertheless, every major country and continent features in the list of shame.

46% of Last Year’s ICOs Have Failed Already

Lessons Learned
Many of the 531 ICOs that have failed or are failing from last year looked sketchy from the very start. In most cases, investors were able to spot the signs and steer clear. Not everyone escaped unscathed though: these projects still raised $233 million between them. With ICO mania showing no signs of abating, there’s no reason to expect this year’s crowdsales to fare any better. Thanks to diminished returns, increased competition, and a never-ending stream of opportunistic ICOs, crypto investing in 2018 is riskier than ever.


https://news.bitcoin.com/46-last-years-icos-failed-already/

I think the failure of these ICOs to make it to mainstream in 2017 is because of the continued blossoming of Bitcoin especially in the last quarter of the same year. It is like a competition, and they were thoroughly put to halt either because they were not performing well or they were not offering something different from that of its major competitor, which is Bitcoin as in this case. The forerunners of these ICOs should have developed something extraordinary so people might consider their ICOs. Absent such, they were really doomed to fail because of its inability to fight the strongest contender. In this, I learned how the basics in business management apply in cryptocurrencies as well.
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February 25, 2018, 06:56:56 AM
 #4

So I guess what I can take out of this is I'm a God damn genius when it comes to investing in ICOs. 46%!? Really?! That's insane! I have two that I did okay on, like +10-30% in bitcoin value depending on the day, and another that I'm either double to quadruple on. So idk what people invested in, but obviously not what I invested in if they lost any money.

If you pick and choose your ICOs, you should be fine. The problem comes when people think ICO = Easy Money. ICOs are able to raise millions of dollars without a clear roadmap and a clear idea of how they are going to deliver, only because some people continue investing in all ICOs. They get misled by the marketing blitz and give more importance to form over substance. Unfortunately, they are going to lose their money very quickly.


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February 25, 2018, 08:59:16 AM
 #5

We all know that ico's is an easy means for collecting huge amounts of funding
and we put our trust into receiving a healthy return from our buy ins but hit really is a hit and hope scenario.
Some people probably choose to hit more to make a greater chance of return.

There have some very innovative ico's which have been successful but there is also a lot of copies and duplication also.
When we invest in ico's we really do need to do our research and try figure out what has potential and is legitimate, difficult though.
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February 25, 2018, 07:57:03 PM
 #6

So I guess what I can take out of this is I'm a God damn genius when it comes to investing in ICOs. 46%!? Really?! That's insane! I have two that I did okay on, like +10-30% in bitcoin value depending on the day, and another that I'm either double to quadruple on. So idk what people invested in, but obviously not what I invested in if they lost any money.

I don't think very many ICOs will succeed. Most will fail eventually when the developers run out of money, give up, or run away. Some may take longer to fail than others, especially the ones that raised millions of dollars.

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February 26, 2018, 06:21:57 AM
 #7

Nevertheless, ICO is very necessary for the development and improvement of the crypto currency. Just a lot of investors are not very versed in ICO projects, there are a lot of technical terms, and the documentation of ICO companies is made in a rather vague form. I think investors will become more discriminating over time and will not invest their money in all the beautiful projects in a row. It is because of this that so many fraudulent projects can be realized.

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