80% of ICOs are Scams

[gold1112]

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 high.
You must carefully study each project. For me last good projects are Lendingblock and Nebula AI.

[sigtmerchant]

I m surprised with 80% quote, my guts tell me this number is closer to 95%

[so98nn]

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 percentage of scams is qiute annoying as 80% are being recognized as scam but the figure might be up or down. But sometime scam is wrongly stated as sometime ICO didn't reach it's hard cap and promises are not completed by the company so people name it scam which is wrong.When they distribute the coins people who get free tokens try to dump at lower prices. But these days scams are done at rapid scale so as to collect money but we need to be cautious about team and their presence on social media and idea behind the project.With joint efforts we can reduce these numbers.

[electronus]

it is obvious that such a large percentage of deception simply can not exist,then the market would have given up completely and forever

[max6575]

to begins with the moderation of message as release from the developer that investors to secure of risks on not to spreads of them on extent as might to prepare with the decision on submitting of chance as complying the technical skills on arrange as capturing release of message with appropriation.

[dyoungii]

it is a pity that cryptocurrencies and ICO have become a profit for the scammers.I hope that soon scams will not be in our field

[burnah0928]

Just be keen and ask the experts like those whom you know well and can be trusted so you won't be a victim of this scammers.

[Agat22]

Of the approximately 200 bounty companies I've been involved in, only a few can be called scams. They were created for the purpose of deception. The rest were in various degrees successful, but scams, I would not call them.

[AbyssLagiaz]

Sometimes I am having those thoughts that scam ICOs were typically just less, but rather just multiplied by the same person over and over while other ICOs that were really legitimate fails to gain the adequate investment in order for them to continue the project. I don't invest in ICOs that much but I am looking thoroughly on the ICOs that wouldn't just be at the first page of the recent projects that came up. There are legitimate ICOs out there getting buried by these scam ICOs under, I believe.

[bulgar_84]

I agree and I think not %80, %90-95 of icos are scam, they are just collecting money and doing nothing, months are passing and they are not giving anything and then closing the company.

[IL.Guerreiro]

no wonder why others love to invest during ICO and then when the token hit in any market they are in a hurry to sell it because they new already the future of the token that they are holding.

[ellapurity]

I agree that some ICO are scam but 80% ratio is way too high, can we say 45% of them.

[Beparanf]

I agree and I think not %80, %90-95 of icos are scam, they are just collecting money and doing nothing, months are passing and they are not giving anything and then closing the company.

This is frustrating even those ICO that seems to good and got successful did some exit out of nowhere. Been seeing crestonium, savedroid accusations at this moment. We need to reevaluate every ICO now.

[Ayyaz Mahmood]

99% of start ups fail and how many dot coms are left from the dot com boom. 
So long as they are building something, the ecosystem is healthy.

"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.”

[thilinanamal]

Blockchain technology has revolutionized the digital world by swirling the whole world and changing the perspective in the current monetary system around the world. Everyone agrees when it comes to digital currency and decentralized networks of your future technology.
As days go by, digital money is entering the market with differences between them. A well-organized solution to start ICO processes and integrate them to the end of the crowdfunding and deployment is not yet available in the current system.

[Kunlejoe0]

I do not believing in scam theory that is always been talked about as regard cryptocurrency and in particular ICO. ICO is relatively new way of raising money and making cryptocurrency useful for e etyday task. We must nature ico and see where these new economy take us.

[abel1337]

I do not believing in scam theory that is always been talked about as regard cryptocurrency and in particular ICO. ICO is relatively new way of raising money and making cryptocurrency useful for e etyday task. We must nature ico and see where these new economy take us.

You dont believe because you dont experienced it. I personally experienced being scammed by an ICO. I invested on a certain ICO and the ICO (supposed to be) ran with my money. I definitely learned a lesson from there. Not to invest on an ICO without researching about it.

PS: I was scammed when I was a newbie/beginner on ICO investment.

[joulion86]

I do not believing in scam theory that is always been talked about as regard cryptocurrency and in particular ICO. ICO is relatively new way of raising money and making cryptocurrency useful for e etyday task. We must nature ico and see where these new economy take us.

You dont believe because you dont experienced it. I personally experienced being scammed by an ICO. I invested on a certain ICO and the ICO (supposed to be) ran with my money. I definitely learned a lesson from there. Not to invest on an ICO without researching about it.

PS: I was scammed when I was a newbie/beginner on ICO investment.

When I worked as a waiter in a coffee shop, I got scammed out of 100€. The intresting thing is this: someone warned me about this trick, and at that time I practised a lot of magic tricks, that work exactly the same way. Misleading attention, smalltalking and acting normal while all you do is everything but. So I should have been 100% ready for the scam and see it as what it was, but I didn't. Back then that was 2 days of work for me. What did I learn from this?
If you are stupid enough that someone can scam you, you NEED to get scammed. There is no way around that. At some point in life, you need to learn how to defend yourself against all the people that want your money the fast and easy way. People go to the supermarket and spend HOURS comparing prices of spaghetti and milk and that will earn them 20 cents. But then they go ahead and invest their life savings into something they have no clue about. People SHOULD get scammed. Not out of their live earnings but out of a significant amount so they wake up and stop being so naive about things!

[suburban123]

Hypes around the blockchain is tempting in itself. Therefore it is not surprising that many people try to "ride" on it. There are a considerable number of projects whose authors use blockchain without a real need for this technology with only one purpose - to attract investments. However, no matter how high the percentage of scammers, interest in the ICO in the near future will not fade.

[omfg.xekcep]

Unfortunatelly it is true that much of ICO are scam. It is a pity that there are such people which scam.
Let's do not forget that we deal with a new technology and an approach of creating new projects and companies. It need some time to adjust an ICO process to make it honest for every project.