80% of ICOs are Scams

[xsaints128]

Researching is all that can be done to save ourselves from these scam ICOs. We all know that most ICOs out there are scam just trying really hard to rip off our money but still there are so many people who fall into these traps and send off their money to these scammers, all I can say is that researching about the project thoroughly can save people from falling victims to these scammers.

[Fittinya12]

It's better to spend more time studying so you'll really know what's behind the project and their working product.With research, it is still possible to see the one's that are not scam.

[Pappy_1_]

Yes, it is sad, but we have to admit that there are a lot of scams in the cryptocurrency sphere. But don't give up. It is necessary to take a more responsible approach to the choice of ICO. Study the project, analyze the idea and in any case not to invest all your money.

[yigitcoin]

It is too hard pessimistic vison. I believe that 1% of new ICO projects can achieve future success. There is real number of ICO that I hope will be successful and gives us new hopes of crypto world development.

[likketil]

It may not  be that  time-consuming to spot a hoax coin, merely check the experts using their public backgrounds carefully and make your mind if these look convincing.

[edinorogka]

There are a lot of people who do not trust cryptography because of fraud . ICO fraud is a big problem for investors.

[Handsome Boy]

I don't think that 80% of the ICO are scams, in my opinion maybe only around 15-30%.

[Anchor867]

Well this might be true because there are some scammer out their and scam the profti fpe those who hard work and also it is hard to find a good one as of now but whenever you find a good one it is very worth it so do your research to find a go9d one

[WellDogeo]

This number may be more. Currently I find there are many scams ICO projects. Finding an ICO project for investment will be very difficult in the market at the moment.

[Ailmand]

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 ...

I think, the better term is not "scam" but "failed" or "unsuccessful". I say that because of the fact that there are so many ICOs and projects that are popping out of the market day in and day out. And so, it's really hard for so many of them to actually penetrate the masses and be a successful project amongst all the other projects. I would just depend on the support that the community would give it, and unfortunately, if it won't gather much, then it is doomed to fail.

[Veseloff]

Now such a life and nothing can be done about it until they begin to regulate the ICO, but on the other hand when this happens, then a crowd of people will flee to this industry and ICO will be small and there will be a lot of competition from investors.

[automatikal]

I have an ICO, help my friends. I'm not thinking too much about it .

[Arsaen]

Not all ico is a fraud, but more than 60% ico it actually fails. It's not easy to find a good ico, but when you get it, your future will be very bright and secure.

[Ravenangel]

Its an unfortunate fact that most ICOs have turned out to be scams, something that is not as good as we mostly depend on these ICOs to come up with new projects that might supposedly solve certain market problems. its quite unfortunate that most of them ;seek to take advantage of the hunger in the crypto community and defraud people off their hard earned money

[siap86]

Many ICOs are just demons, they buy good sites and build networks around them.
After accumulating large amounts of money, they do not care to develop a good product, that's why you have to be more careful in making choices.

[bigdaddyderp]

80% seems to be the going fail rate for most start ups even outside of the blockchain and crypto.  Seeing how unregulated and wild wild west things appear to be I say 20% success rate is not too bad.  There is money to be made with the right mix of skill and luck. 

[MatysTapsilog]

This level of extortion in ICO ventures is excessively misrepresented. Truly it comes to about a third, 80 percent it can not be. In the event that there was such an extensive level of extortion, nobody would put resources into these undertakings and would not partake in them. Don't you panic individuals with such figures. All things considered, they will disperse.

[HelloGarChi]

That is the reason ICOs are restricted on stages and notices of informal communities. It's only a disgrace that even great and authentic ICOs experience the ill effects of these con artists. They devastate a decent stage for new undertakings. That is the reason I concur that the ICO is directed, at any rate to limit a few con artists.

[abhishekkapoor]

What can I say? It has been a while and I was almost scammed into many fraud ICOs recently. Be careful outthere my fellows. There are still decent coins waiting for you.

[mimarob]

Yes, it is true. A lot of scam, and projects need to be carefully chosen. And this does not give any guarantee. A lot of chances to get on the scam.