80% of ICOs are Scams

[krodmandoon]

I don't think that so many ICOs are scam. Not all of the failed projects are scam, some of them are just not thought well or not promoted good.

[richbeach]

They say on MyWish platform there will be a function for scam checking soon. And now you can try to create your own hype ico using promo

[Jasoncrypto1]

If you follow ukcrypto you can solid advice and technical analysis. They also have another channel reviewing ico's. They are not compensated for reviews and give honest ratings. Most get 1 star. Point out code faults etc
https://t.me/ukcrypto

[Crypto-capitalist]

About 10% of current ICO are really successful projects. Deep analysis of the project is required to participate in ICO. First of all, you need to familiarize yourself with the project team. However, the right analysis and the right investments in cryptocurrency lead to tremendous success

Agree, but I think that 5% of ICO very successful and 15-20% when project developing normal in long term.

[marvtridon]

It ain't fair n right to say 80% of ICOs are scam. Common we should be bigger than this and not just picking numbers or using some unverified source information to make public declarative statements.

If 80% are scam then we are in it for a bad business

[wayaneka]

All ICO project should has rules to protect investor from lose by program buy back token and burn token model, by this way developer can avoid big loss of their investor from big drop of token price. Regulation is also very important to make sure the project has awesome product and will manage by solid team. ICO market now to big in quantity but low in quality product, because they can issued and create token easyly without any working product, many project does not continue to development the idea of project.

[atliens99]

Well to be honest a lot of people still call bitcoin a scam so make of that what you will.

[ovcijisir]

I don't think that number of scam ICO's is that high. If some project fails for some reason (ex. if softcap is not reached) that doesn't mean it is a scam.

[cryptowye]

I would say 90% altcoins out there are questionable and might not last after few years. Look back at the dotcom bubble.

[DeKingCrypto]

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 ...

Everyone is subject to his/her opinion, before I buy into your ideology, I will first examine the circumstances that surrounds your ideology. What I understand here is that most project did not plan to fail, but because of the competitions in the cryptowolrd has made them seems to scam people. So I will say no to 80% of altcoin being scam.

[@leko$]

There're more writers than blockchain developers on this planet. Most of the blockchain developers are already working on a project, please ask yourself who will develop everything written in all these ICO whitepapers??? A whitepaper is written fast but to code everything written is much more work. I don't want to say that all ICO are scams but it is simply not possible to develop all these projects without enough developers.

[tadex01]

How can one differentiate a fake ICO from original?

[Bezobraznike]

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 ...

Everyone is subject to his/her opinion, before I buy into your ideology, I will first examine the circumstances that surrounds your ideology. What I understand here is that most project did not plan to fail, but because of the competitions in the cryptowolrd has made them seems to scam people. So I will say no to 80% of altcoin being scam.

  DeKingCrypto you are right about what you say
here. Most of ICO's fail cause they did not find a
way to struggle with pressure. Big competition,
new technical challenge's, to stay at top demands
big sacrifice, some are not ready for that and they
fail.
   Many failed, and many more will. There are many
that will endure and become stronger. Crypto-system
is at beginning, many up's and down's are waiting
entire crypto-system before it set's it's place in this
world.
   Time will tell how many ICO's have enough to stay
competitive. New one's are getting out everyday, they
promise a lot, how much will they fulfill it's yet to be
seen. Let's be patient and wait for that, who have faith
will invest, who do not have it will regret later for missed
opportunity.  

[cryptoid999]

Really a lot of ICO it was originally a failed project or a Scam 

[Tylev]

I think that the figure of 80 percent of fraudulent ICO is too high. Here it is said that to fraudulent are those ICO projects, according to which people expressed in social networks that they are fraudulent. I know that in many cases, when tokens are for any reason delayed, the generosity campaigners start to panic and write that this project is fraudulent. I think that fraudulent ICO is much less. According to other studies, they are about a third, still as many as failed. This is a more real figure. It roughly corresponds to my practice, although by my calculations, fraudulent and failed ICO campaigns will have no more than 40 percent.

[stingraydiver]

This is exactly why you should research any investment vehicle.  Please read my other post on investing in crypto.  There are fundamental principles that should be followed to decrease your chances of becoming a victim of fraud!!

[IrReAr]

The article is based on this https://medium.com/satis-group/ico-quality-development-trading-e4fef28df04f which doesn't mention any of them by name. With a number as high as 80% I wouldn't be surprised if joke cryptos like doge coin or garlicoin are counted as scams too. The "study" is meaningless if we can't even check which cryptos they evaluated.

[carlowell]

I cannot agree of more than half of the current ICOs were actually scams because I agree there are too any ICOs that were failed on promoting their Crypto project in the crypto world market but it doesn't mean they're scam and fraud.
Most failed ICOs were decided to stop their Crypto project due to insufficient fund raised on their ICO stage and some had been successful.
There are a lot of scam ICOs that are already bagged investors' money but I don't think most of the ICOs are scams.
In my personal ratio then there would be 1 over 20 ICOs are scam, that is only 5% and not 80%.

[MattLawson48]

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 ...

Interesting numbers. I was looking at one listing site that had around 2,000 ICOs on it. If these numbers are accurate then approx 160 of these ICOs will make it to the exchange. With huge upside potential, I like the odds of finding a few of those 160.

[JembatanMerah]

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.

one of the things to watch out for when wanting to join a project is to first understand the concept of the project, the teams involved, will indeed people who are already recognized will be its performance, as well as the clarity of the roadmap of the project then, it can be used as a tool to be alert and avoid the scam from the project.