80% of ICOs are Scams

[deepocean]

I think so too. people are just making ideas and collecting money for it. people are putting money on it. I think this system will change over time. I think solve is  daico.

[Stigmooo]

It is very unfortunate but it is a fact. The scam ICOs are even growing in numbers compared to the past years. Conducting an ICO is easier than traditional crowdfunding that's why it is a target of many scammers. I hope this will be regulated accordingly. Scam ICOs are one of the reasons why cryptocurrency is degrading and having bad reputation.

Plus you can create almost the same name of their social media accounts.. Sending links and false proofs thats legit.. Only copy pasted link in the original.. I was once a victim of it.. But i learn.. Now all i can see is when an ico is great.. I still do to take some risk.. After all you and you alone can enjoy ur profit when it boards.. 80% is too much for an estimate ive guess.. We never know what lies ahead of every ico's we invest with.. Thank you..

[bohboh]

Seriously, you are right because ICO that become successful nowadays is very small, what am looking forward to is that, there should be a regulatory authority that should be in-charge of ICOs.... At least, this will limit the scam of project. Am looking forward to that.

[fork100]

not 80% of the ICO scum, and even 95%. Everyone wants easy money and simply collects them. If you want to participate not in the scam project, I advise the effect.ai. effect.ai - is a decentralized network that provides services in the AI market.

[Ninjacointop]

Some projects are frank scam, some are well disguised scam. A lot of serious projects are not scams, but they don't do anything, because the technology is still young. Teams simply don't have enough experience to implement the plan. This is normal. Perhaps the first successful cryptocurrency projects will appear in 4-5-10 years. If we draw an analogy with dotcoms, most successful companies appeared after 2007

[ArturoProfit]

Sad statistics that frightens many potential investors. I hope that in relation to ICO measures will be taken that will exclude the possibility of losing the money of investors

[Bosmuda]

Well I think it just the matter of time that ICO will gettin mature and it become one of the platform which trusted and known by many people. Its common when peoples just trying to get money from ICO but it will changed.

[SuperP]

I'm sure that 90% of the projects are scam since project developers are easier to raise money on the pre/main sale and then go away 

[DRVX]

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 am not surprised by statistics represented in this topic. There are lot of ICO on the market. That’s true. But it is also almost impossible to define surely which project will be profitable. Participating in ICO is risky.

[espeno]

This percentage is inconsequential to what you do as an investment in ICO.

The true litmus test has to be whether the business model is sound. If you are an angel investor would you investor other people money into this ICO . If it's Telegram would you invest? If it's some other Banana coin, would you invest?

How do they monetise the ICO ... Is there a fungible product supporting the coin? These are all the questions to ask...Instead of headlessly chasing bounty after bounty

[Cult]

It's true there is a lot of opportunism in the crypto sphere. I even heard there were a couple projects which were created for earning a quick buck, but gathered so much money that they started working on the product for real. However, I wouldn't label so many ICOs as scam. A lot of them are pretty risky investments indeed and a lot will eventually fail, but it's alway like that on fresh markets.

[APO Finance]

We are collecting feedback, can anyone read our docs and comment on our project?

[investgeek]

Hi all,

I have already invested in Celcius network, Salt lending, eth lend ICO's and want to invest in Welltrado.
What do you think guys? Is it an interesting project?

Thank you for your answers!

[coinlocket$]

I don't think 80% of ICOs are scams, but I think we agree the majority of them will fail/have problem sto stay alive when project will be done. Also reading on internet the % is more than 80% is around 90%!

[Cryptowhynot]

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 ...

If you have a 8% chance of it going to the exchange you better do you homework for sure. I believie you can eliminate most of the scams from your pool by doing the right kind of research. So, if you can eliminate half of the scams you can increase your chance of picking a winner gets close to 20%. I'll take those odds.

[BACKSTER]

As far as i know the number of scam ICOs are far bigger than 80% 1/10 ICOs are acheiving success,so it means there are less projects that are surviving the market that is why ICO investments are surely a risky thing to do especially when you arent good in researching or investigating every aspects you need to check before getting involved with these projects.

[hailtheking]

It is true that many ICOs are fake nowadays. We should choose an ICO wisely or else we will work just for nothing. Study the ICO and have a research on it so that you will have an idea regarding the ICO.

[Igorgnome]

I analyze a lot of projects for investment and keep track of ICO for a long time. In my experience outright scam found much rarer. Perhaps this is subjective, but I believe that among ICO there are much less scam projects than it is considered in recent years.

[carnitastaco]

I think that the figure of 80 percent of fraudulent ICO is too high.

[demibear]

It depends on what we call the scam.
Perhaps 80% is even too optimistic estimate

Scam being they never intended on delivering what they said they would. I would include shit that goes dead because they realized they could not do it as well.