80% of ICOs are Scams

[Psalmy2cute]

The existence, interest and popularity of ICO is remarkable day by day. The bitter fact that with the growing popularity of ICO is accompanied by the many ICO scams we have to accept with patience.

[chereshnya]

In my opinion, many ICO have a weak potential for promotion. Also a lot of scams. Try the best to learn from your ICO.

[jack1111]

Most ICOs were done in 2017, so they were not given enough time to prove their reliability. There is a big number of scam ICOs, but it is unfair to classify some as scam for unconvinced reasons.

[therhslv]

Actually same happens in Kickstarters , most of them fails and only few take big share of marketcap . If you study a project hard enought then its kinda easy to find scam project . Ofcourse there is some projects who raise funds and everything looks legit . They got listed in exchanges and got working office , but thats actually all what they do . Make people think they do something , while spending raised funds .

[tajak200]

sometime ico really unique is already practically offered, but the technology is slowly gaining strength. Plus, investors are becoming more legible. the number of scams and fraudulent schemes in the ICO grows in arithmetic progression, so clearly ICO-industry needs a competent regulatory mechanism, and what will come with it, time will tell.

[Melnikof]

Many ICO are scam but not 80%.  many of them are failed to reach their target sale that I is why they have to declare as a failed ICO sale. It is not considered as scam because many failed ICO give back the investors money to avoid legal case that could bring them in jail.
 

I also think that most people on the forum confuse concepts and call everything scam, although initially a very small percentage of projects are released with the primary purpose of deceiving users. Most of them simply do not have an interesting idea and a strong team. These are just weak projects that are very easy to identify on a lot of different signs and just not have anything to do with them!

[MidnightWolf]

Many ICO are scam but not 80%.  many of them are failed to reach their target sale that I is why they have to declare as a failed ICO sale. It is not considered as scam because many failed ICO give back the investors money to avoid legal case that could bring them in jail.
 

I also think that most people on the forum confuse concepts and call everything scam, although initially a very small percentage of projects are released with the primary purpose of deceiving users. Most of them simply do not have an interesting idea and a strong team. These are just weak projects that are very easy to identify on a lot of different signs and just not have anything to do with them!

you know that scammers are destroying the company's ico market. But nevertheless among a large percentage of bad projects are not only scammers, new projects with weak teams or less attractive ideas for investors.

[Diegre5]

My suggest is also invested a few times on ICO scam, to overcome it we should really read and understand their whitepapers and properly check the team that aired on their site.

[Don Lord]

I agree that now every second project is scammers, before this course was not, for me it is a very big problem,because it is becoming more and more difficult to choose a project.

[Tiklohor]

Yes, I agree that recently a lot of ICO are scams. therefore, many countries to protect their citizens prohibit ICO. and now people are carefully studying ICO projects that would not get to the scammers.

[suzanne5223]

I have been following dozens of ICOs since more than two years ago, the first time I invested ICO was Chrono Bank, then We Trust, Edgeless, Minexcoin, Populous, Bitcad and so on, and of course the scam was an investor risk but this made us more careful in placing money.

I'm a follwers of the ICO you mention ans your answer concerning the ICO you mention are not straightforward. However, I believe investing in genuine ICOs is pretty easy if ones is not after the money all time because the first to do is about the team involve, the ICO manager and the project concept.

[tomboi]

Every day there are always developments both from the ICO and from Crypto. The number of existing ICOs continues to get additions. The new ICOs that have sprung up now seems to be getting better in providing features and also delivering more complete information. Indeed there are some of them who are scams, and now the number is also increasing. Scam now often happens to those who are not ready to face the tough competition in crypto, they are also less creative in giving ideas, so not many investors are interested.

[Sutters Mill]

Only 80%? I'd say that's a conservative estimate. I prefer 99%  . Seriously though, it depends how you define a scam. Some are straight up scams from the get go and just want to run off with your money whilst others just seem to be some project someone has halfheartedly dreamed up and hopes that people will just invest in it to get it off the ground. Most people who run ICOs will have absolutely no idea what they're doing and the project may just fail due to incompetence or inexperience, or once they have the money they spend it badly or just figure it's best to keep it without throwing it away on some shoddy idea that will probably just fail anyway. If most of theseICOs were legitimate businesses or ideas then they would likely just go the normal route to get funding or their ideas off the ground, but these days it's much easier to just quickly throw together an ICO and hope people bite.

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 ...

[Ardavan2150]

I have also read about this study. I totally think it is true. you can get this idea from participating in airdrops and bounty campaigns. This used to be very profitable. But now everything seems to be a scam. It is sad though. Crypto used to be very valuable. Now this is just a place for fraud.

[Artos893]

Therefore, I prefer buying coins on the market.  Yes, if the company is successful, then the price of the coin is higher in the market, but I do not risk losing my money.

[kilimanjaro54]

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 agree. Now a lot of scam projects and therefore if you are afraid to invest in ICO, it is best to buy coins later on the market.

[atariguy]

I think 90-95% of ICO projects are scammers at the moment. Therefore, you need to be very picky about choosing a project, otherwise you risk losing all your money. Most of the projects are now scammers, or when entering the exchange, the price immediately falls below the ICO price. Therefore, such investments should now be treated with extreme caution. Be very careful and recheck everything several times, then you will increase your chances to earn.

[bostokves]

It seems to me that the scam of projects is much less than 80%.  Now there are very few successful projects.  Now it is very difficult to find a good ICO.

[Gilliffyn]

Well, you still need to choose the right ico, especially to see who is successful in such a market and who chooses good ico for him and you need to go

[Leo]

You are correct though about it,  it's even more than 80% are scams,  I think there have to be a regulations to flush out this system,  there is some new methods of scam ICOs now it's called self drop ico,  that's another scam