80% of ICOs are Scams

[Revi250cc]

Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272

I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share

Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”

"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”


DYOR people ...

[Jimmy palumbo]

First, your post is posted in the wrong section.
Second, most ICO projects are just hype, which is why countries are adopting laws to restrict ICO.

[Revi250cc]

First, your post is posted in the wrong section.
Second, most ICO projects are just hype, which is why countries are adopting laws to restrict ICO.

sorry...
new to the forum... what section should it go under? ill try to move it

[Cryptoman69]

Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272

I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share

Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”

"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”


DYOR people ...

Its depend to us if we believe that 80% of the ICO from now is totally scam. We are in a possesion of the problem especially in choosing ICO. And sometimes we also have a problem so we think they have the less. There are so many project that are being potentially to be a good project soon. But we are just supposed to have a trust to whom we trust.

[giogio0504]

Yes there are plenty of scam projects and they are making troubles for good ideas.

[Pasadoble]

Yes they are, and they are making mess at the crypto market, people are confused and governments are worried.

[Xester]

Saw this study on twitter... https://twitter.com/Zeex_me/status/978981735101878272

I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share

Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. “On the basis of the above classification,” they wrote, “we found that approximately 81% of ICO’s were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.”

"Scams were defined by researchers as “Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.”


DYOR people ...

The reason why the scam ICO's rounds up to 81% is because people who experienced that the ICO's have not give them profit as promised they will immediately call them scammers. Those ICO's that are being called scams are ICOs who have failed, gone dead and some went on trade but encountered a huge dump of value. This will explain that if you ask an individual most of them will say that ICO's are scam.

[jzale]

It is very unfortunate but it is a fact. The scam ICOs are even growing in numbers compared to the past years. Conducting an ICO is easier than traditional crowdfunding that's why it is a target of many scammers. I hope this will be regulated accordingly. Scam ICOs are one of the reasons why cryptocurrency is degrading and having bad reputation.

[nicosey]

99% of start ups fail and how many dot coms are left from the dot com boom. 
So long as they are building something, the ecosystem is healthy.

[charlie_cutie2002]

Yes im stongly agree that 80% of ICOs are Scams because I experiences that I'm I newly about this kind of business.But I'm not stop o join because I'm still hoping that time will come to be a lucky in this kind of business.  In addition  not all so we have 20% of change of lucky to ICOs. Who knows it will decrease  soon and I'm hoping.  

[Jlimao28]

First, your post is posted in the wrong section.
Second, most ICO projects are just hype, which is why countries are adopting laws to restrict ICO.

sorry...
new to the forum... what section should it go under? ill try to move it

You can move it in altcoin discussion.
A lot of projects right now are scam. We cannot avoid scam and failed ICO. They are always here, waiting to bait someone else. And the best thing to do is to know deeply about the project, developers and roadmap of the ICO you want to participate. In order to prevent totally scam, atleast you have 60% of assurance that the project you've chose is legit.

[MXgirl150]

I believe it. It's funny that zeex the company who tweeted this is a company about to do an ICO  ironnnic

[Herp-a-derp]

Rather 99% ico projects are scam, as it is much more profitable to make a beautiful site, invest in marketing, collect a lot of money and leave 

[Daniel9140]

Many ICO's are just hype. They spend money in getting a good site and building hype around it and after collecting huge sums of money, they never bother about developing the actual product. That's why we need to be more careful when selecting an ICO

[Ctn]

Sadly researchers did not make any research on how to identify the legit projects with 99% accuracy or in fact I will put my stakes in may ICO that has 70% of chance for its success in the future. I mean that would be dream come true if there is any analysis that goes like that way, what do we have to loose if we are already loosing thosuand like that.

Also good news is we do have 20% of ICO that are in good position while 8% sure shot ICO which can make it upto the exchangers. Hm, I thought the era of ICO is already finished but there is still ray of hope mate. !

[StaubeS]

It's true, a lot are, but there definitely are some good ones out there.

[klement.i]

Too big a figure. If there was such a percentage of scams, I think such concepts as bounty and airdrops would disappear from the ICO. The fact that the ICO could not implement the idea, there were not enough resources and the like is not considered spam. The Scam is when the project just disappears and anything about it and never heard.

[macchiato]

Most ICOs are indeed scams. This is why we all should be aware of the ICO we are joining. Make a research first. Try to check the ICO's team/developer and its rating in websites like icobench or icorating. I usually join ICOs handled by trusted managers. This helps lessen the risk.

[unsquidly]

Yes you can wisely choose the ICO projects if there are more supporters and the idea is unique then you can trust or else you can skip the project.

[amirmrida]

Say you rights. Because my sir completed huge bounty but not get payment. On the other hand  all coin lost it,s own value for this reason new coin not lunch market.
Although bitcoin value day by day decrease but people  sell coin less value.So their have less possibility for profit.