80% of ICOs are Scams

[IgniHash]

Yes, I've read that article. I think the article tells us about the current facts.
It's true lately many ICOs have failed. But not everything becomes SCAM.

[cryptohunter]

if a scam is a whitepaper that will never happen you can assume 90% are scams or greater regardless of their intentions. The teams are unrealistic at best or outright scammers at worst. I would say eventually investors will be terrified to go near anything that is not almost complete.

[setialovers]

Its important thing to do research before joining on ICO. Reading on their whitepaper and looking on their developer team is important. Many ICOs scam right now and its happen because competition on cryptomarket is getting tight

[BlockEye]

if a scam is a whitepaper that will never happen you can assume 90% are scams or greater regardless of their intentions. The teams are unrealistic at best or outright scammers at worst. I would say eventually investors will be terrified to go near anything that is not almost complete.

Smart investors will probably do their research, we can easily detect now the scams ICO due to their background and team, even they have a good idea and objective we will for sure know it even here in the forum since scam accusations were most mentioned here if the ICO does not seems to be legit,

[Be_Happy]

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 

You're right. If you start to carefully study each project, then really only 1% of all ICO will bring profit and benefit from the realization of their idea.

[Semeny4]

80% is a very big risk to get to a fraudulent website, damn I don't even know what I'll do when my bounty will end. I'm upset.

[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 ...

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.

True... and reading the article, it's very hard to classify what is a scam and what is not. All research can be skewed.

[Haunebu]

I am not sure how accurate the findings of that article truly are, but I do agree that majority of the ICOS are basically cash grabs meant to steal your hard earned money. I know several people who got tricked by such ICOS and ended up losing their hard earned money. Research is the crucial factor in this context.

I usually end up doing a good amount of research before deciding whether to invest into a particular ICO or not. Whitepaper and community support are the 2 most important factors in this aspect.

[SnowDawn]

80% of ISO projects are Scams. 60% of ICOs are organized by "Russian-speaking people". The state should legislatively regulate this market, only in this way it is possible to protect investors from possible deception.

[donacal]

for how it is going in the last 3 days seems to have a great single scam. We hope well

[jackmuu]

You need to be very careful with the ICOs these days, a lot of them are scam and most of them are just money grab. Always do your own research, check the team, read the whitepaper and read/watch reviews. If you prefer to watch video reviews you can find them here: https://bestcrypto.tv/category/ico-reviews/.

[otong]

Now ico more and not all scam. even now more and more success in ico. all the developers compete in getting investors and the concept is getting in the favor

[Muzika]

For me a high percentage of a bounty will pay a person maybe the reason why people saying that bounty is a scam is because people did not choose wisely on joining a campaign , maybe they are joining campaign without scanning the team.

[standards]

We are know that the majority of ICOs are scams.
The thing is during the bullish market, most people can still make money from ICOs.
Now the market is bearish, people are losing money in ICOs, and the problems are more severe.
I do believe ICOs need to be regulated in some way.

[CaterpillarRave]

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 ...

That's for sure. Not much good ICO. I estimate that about 10 ICOs will have a good ICO. The rest of us just want to scam on us

[creeps]

Now ico more and not all scam. even now more and more success in ico. all the developers compete in getting investors and the concept is getting in the favor

Yes most of the ICO’s are still legit and many successful project are comes from ICO. Shit things are everywhere and we cannot blame them because too many people are greedy and will do everything just to make money. When you got scammed bettet to be more careful next time.

[jacquelinecr]

I don't believe that your statement is correct. You could say that 80% of the ICOs fail but not that many are scams. There are teams that work hard and have a vision to create projects that will improve our lives.

[yillusion]

We are know that the majority of ICOs are scams.
The thing is during the bullish market, most people can still make money from ICOs.
Now the market is bearish, people are losing money in ICOs, and the problems are more severe.
I do believe ICOs need to be regulated in some way.

yes, and many people around me are careful with ico now, and we can find that ico is hard to raise money now compare with what happened months ago, anyway, some good projects may launch in this time and be a superstar like qtum

[Landakhitam]

Now ico more and not all scam. even now more and more success in ico. all the developers compete in getting investors and the concept is getting in the favor

before we invest in a ico, I think we should really examine it first,
see first read a whitepaper and who his team, his ceo

[jakelyson]

This is why ICOs are getting banned on social media platforms and ads. It is just a shame that even good and legit ICOs are getting affected by these scammers. They are destroying a good platform for new businesses. That is why I agree if ICO gets regulated to at least restrain some scammers. I know scammers cannot be stopped from doing ICO scams but at least it can be lessened.