80% of ICOs are Scams

[tylerderden]

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 ...

There are many ICO that are announced on a daily basis on the forum and many of those goes undetected by the people here and those which gain some popularity and gets good rating on the ICO rating websites are from those projects which get listed on the exchanges and I also take part in the bounty campaign of those projects. But day by day it's getting pretty hard to differentiate between a legit and a fake project as the scam artists are also pouring a lot of money in the scam to make it look like a legit project.

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[maucial]

This can be true, but don't forget the other 20%. If you chose the right ICO, can be very profitable.

There are many interesting projects to check out and others not, so it's important to choose wisely.

Looking at the project as a whole and looking at the team behind it, is very important to make a correct decision.

If I can give you guys my opinion, I discovered an exciting ICO that is very interesting: RAWG.

Check out this great article by Sergey Ulankin, RAWG's Editor-in-Chief, where he explains what has been done so far and what will be the future updates:

https://medium.com/rawg/wp-bits-5-vision-and-current-state-69127bfbeb2a

The ICO will start in a short period and they are at the moment in pre-ICO phase. This is the ICO site: https://token.rawg.io/. It's a video game discovery platform that converts your skills into goods and services (the site is already working, with more than 57,000 games in the database) and, which is very interesting, they have already reached the soft cap.

Have a look and get some information while doing your own research!

Another interesting point: RAWG has already secured $5m USD, halfway to hard cap of $10m!

[forutba]

This year many icos are scam, because of market, because of easy money, because of regulations, so just choose your investments more wisely and dont invest into shit coin.

[Tallos]

I hope that mine ICO in my signature is not. I am participant in this project for very long time, I have spent many hours by promoting them, so hope that I have chosen well   .

[Mr.grin]

I hope that mine ICO in my signature is not. I am participant in this project for very long time, I have spent many hours by promoting them, so hope that I have chosen well   .

I do not feel that so many ICO scam. well, maybe some of it is a scam. but investing is our will, so before investing, we must really understand this. well, i've also been hit by a scam from ICO, so that's been a very good experience for me at the moment.

[Notmine]

Being clear, tokens offerings seldom are pure scams. I think that the perceptible trouble frequently is time after time one poor financial management.

[BenjaminFranklingwould]

This is the present reality. This is how the things go in 2018, however, in 2017 the situation was better. I guess, that more people learned about crypto and try to make money on it using fraud. But actually things probably even worse. In my opinion 90%+ are scams. Incopetent teams, unrealistic ideas, short deadlines etc. But regulation can help with it a lot.

[Dimas99]

Being clear, tokens offerings seldom are pure scams. I think that the perceptible trouble frequently is time after time one poor financial management.

The difficulty of supervision is one of the reasons why today there are so many projecks of fraud available. and I think nowadays a lot of scam ico because the supervision that is still not big

[murinked]

Now there are a lot of projects, but there are also good projects in which it is worth investing in order to quickly make a profit.

[Batzko]

The difficulty of supervision is one of the reasons why today there are so many projecks of fraud available. and I think nowadays a lot of scam ico because the supervision that is still not big

What supervision? Everybody that has an idea can make a coin and nobody can stop him. There can be no supervision because what authority will put somebody in the position to supervise anything?

[automatikal]

Many ICO's suggest more hype . But I am surprised by such a large percentage of scams .

[Super wich]

Most like yes. If you plan to invest just do some research for the ICO you want to invest with. THere many legit ICOs in the market.

[pergola]

Most like yes. If you plan to invest just do some research for the ICO you want to invest with. THere many legit ICOs in the market.

We have such a bad statistics on scam in the ICO due to the fact that many neglect a simple study of the project before investing. If everyone were doing their own analysis of projects, the situation in the ICO market would change in a coordinated manner.

[Zelezinskyi]

Most ICOs fail, but most end up being scammers. Eighty percent is still a modest percentage. I think now 90%

[NetFreak199]

Most ICOs fail, but most end up being scammers. Eighty percent is still a modest percentage. I think now 90%

Nobody forces you to invest in ICO! Just people hoping to earn profits, and the developers of ICO and cashing in! It's time to stop investing in ICO!

[thaokhuyen01]

On the one hand, ICO is actually too much scam, a part of investors lose confidence in the ICO. Perhaps a tightening policy, to create confidence back to investors

[Nuf-Nuf]

I really do not cease to be surprised by such exclamations. Guys, wake up, nothing new happens. From the recent history of mankind - the stock market and the activities of joint-stock companies have gone through the same stages.

[Jemsdum]

In all probability 95% of trick ventures, since they are less demanding to fund-raise and discharge their token to the stock trades, however not to advance and understand their thought throughout everyday life.

[Zeke_23]

that's true, icos is become known due to a lot of previous successful campaign, and many developers seen a lot of profit that may gain by creating one. but they are not the only one who's taking advantage about it, even scammers does.

[ismelda_ita]

Yes, you're right. at this time a lot of ICO scam is popping up. even I 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. choose ICO that has escrow services in it. because I was once a victim of ICO scam investment