80% of ICOs are Scams

[crypthomonkey]

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 do not believe in such figures in my opinion less than eighty per cent are scams because there can not be so many of scamicos

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[Larochka]

In many respects, you are right that ICO is a fraud. But it only talks about real fraudsters who deceive people. They are really focused on this, but there are other people who do good things and create real companies.

[aioc]

Some of these finished ICO do not have a platform or a real project to speak of and if they do have one they are not gaining support, so it is wise and a good decision to only invest in ICO that has already a platform and supporters, because they have a good chance to succeed, not unlike those that are just planning to build one.

[chillcott]

I wouldnt say 80% all of ICO are a scam but i could there is a lot if fraud or scams Ico are going around and this is not good for everyone i hope someones will make an action through this but then again there is still legit ico is keeping their promise you just have to be careful on finding your investment choose wisely

[memFISTO]

I believe that 90% of all ICOs in the modern crypto market have only an idea. But in reality they no longer have anything. Including there is no team of developers, a ready product and real prospects for further development. Unfortunately, this is a real situation that needs to be taken into account.

[alex_kir]

These are too large figures, of course, they are greatly increased, because this simply can not be, if there were such a large number of scam projects on the market, then probably all investors would simply have fled.

[belcini]

Unfortunately, today there are really a lot of scammers among the new ICO projects and airdrops. Many projects ICO after receiving the necessary money decide to just leave the market. And investors themselves are deprived of their money. This circumstance must be taken into account before investing your money.

[smoker36]

Unfortunately, today I'm forced to admit - a lot of scammers really appeared on the crypto market. Probably, really about 80% of all ICO are scammers. Therefore, investors must necessarily take into account such risks and carefully choose suitable projects for investment.

[Barbatos]

I have to admit that today the majority of ICO and airdrops are scammers. This circumstance must be taken into account by investors and carefully selected suitable projects. In particular, the investor should study information about the development team, proposed technologies and further development strategy.

[Asgod]

If an ICO without the ability or intention to follow its roadmap is considered as scam, more than 90% of ICOs should be scams.
Most of us know that, but we also know many ICOs will be pumped before it dies slowly.

[crypto freelance]

I think that if you tighten the rules for entering cryptology, the level of fraud will be significantly reduced.

[Tanya12356]

I think that if you tighten the rules for entering cryptology, the level of fraud will be significantly reduced.

As soon as possible.
And then there are too many scammers lately.

[Cianix]

Yes, a lot of scams , and even to this bear market, almost few coins that after the ico still do not want to go to the stock exchange, to guess the project is very difficult now

[Jalum]

We need to read as much as possible and be able to choose economically viable projects. 

That amount of scams can't be real. There is a lot of coins on the Internet that you can select from.

[Daniel9140]

Their are a lot of icos that are scams. Many are just money grabs that wants to raise funds and move on the next project. One needs to be careful while selecting all these icos to invest or to participate in bounty programs.

[Yury1]

The problem is that too many mercantile people wanted to organize their ICO only for the purpose of personal enrichment. I think this area needs strict control, which will help to get rid of scams and return the trust of investors.

[The Scorpion]

Taking advantage of being decentralised, nor investors are being educated on what sort of projects are they embarking their investment, greed plays a vital role for such scams; hope the consensus are used for betterment rather to multiply outflow.

[chamika888]

ICO investment is always risky. The way companies do promotions is very attractive and people get fascinated by the ICO and invest their hard earned money. But as people see that the ICO is not following their road map, they come to realize that they are trapped in a shit coin. But by that time, it's very late. Why this happened because people do not do study about the project, if it is having unique concept, whether it has a strong and real team, whether that ICO will add value to the current market cap etc. So we should always remember these things before investing in an ICO. No one will help after being scammed.

[SubZer0]

Why are ICOs a great opportunity for scams? Well, the person who invents them can say that they are inventing a new thing which will revolutionize everything and you have a chance to buy in on it. From where I come, we have a saying, "don't buy a pig in a bag", meaning that you should always first see that it is actually a pig you are buying! Now as explained before, this kind of examples of great ICOs will make people want to invest in upcoming ICOs, but unless you are absolutely sure you want to put your money into the pocket of a random person and trust them with it, you probably shouldn't participate in the upcoming ICOs even if they offer you the sky. Someone always looses if people pay too much. Also btw, ICOs offer a great opportunity for pyramid schemes, where new people make the old people richer, and eventually the newest members will be left holding the bag worth nothing and the original people are rich.

[Fedots83]

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 ...

When governments will set some regulations regarding ICOs, amoutn of scams will decrease by 80%. Teams behind the ICOs feel invincible, so why should they be afraid of anything. No regulations - no punishment. It is time to change it!