What is the problem of trust in projects?

[Rose119]

it is not fair that ICO is generalized as a fraudulent investment, some projects are well designed and they are serious about their projects.
we just have to be smart to pick and read at least their white paper shows the seriousness of the project.

But sometimes even if we do our best to avoid those scam ico we still believe some of them, simply because other scammers also give their best to look it realistic.

[misterj]

Cryptocurrency is currently the new form of money and people are adopting to it because of its advantages and minimun disadvantages wgich is human error. Thus, human error are used to scam people or hack them because we all know that big money can came from here which attracts bad people so bad.

[vv181]

Funny that you're talking about banning ICO's when you're still waving that banner on your sig. ICO's are still a great way to fund actual projects that will be helpful in the advancement of our technology through the blockchain framework. What needs to be done is regulation of ICO's and the use of credible escrow so that the scammers are eliminated. It will be a hard road but it's for everyone's relative safety.

Ironic isn't it?
It is indeed ICO is a great way to crowdfund a project, but the problem is the user is not well-educated and mature enough to research about the ICO and how to prevent an ICO  scam. I believe that ICO is a good way to raise a fund and that this current period of uncertainty is temporary, it is still wise to be cautious and prudent before investing.

[Betheng10]

There are so many scam projects going on. people are now afraid of joining ico.
1.  i think ico should be removed. because the frauds have multiplied and people are now having difficulty in distinguishing the truth.

2. if there is no money to develop the project, please do not try to project it. also from the ico when it comes to the stock market is not 3k 5k. even lower than the price you get. because the investor does not know which one to buy.

3. no one is buying token, my regimen does not want to spend 3 or 5 years. when it gets 10% higher than it bought.

4. there are hundreds of projects in each stock exchange. Someone stop them.

There would be a lot of ways to scam people not just ICO's. A lot of ICO's has really good projects and deserves funding and yes there are a lot of failed projects too. Poor concept of projects might be one of the reasons why these projects fail to gain investors which is believed by some to be a scam.

I just think that admins, moderators and experienced users would be able to know scam projects if they see it and would inform us directly here in this forum.

[Onews1990]

Also, in iaddition to this they should just keep the other tokens, which are already present in coinmarketcup now, and we will be able to focus on these tokens

[Roboabhishek]

In my honest opinion, yes lots of ICO’s are scams and setup to simply steal money from you but I think that closing them all down is not the best solution to solve the scamming. There are many very good projects emerging into the bitcoin world showing us the true limits of this new trend. I think the best way to solve this is to have ICO’s under strict regulations where contracts must be signed to ensure that no one is getting away with anything. Other than that, make sure you do research to stay safe.

[SplendidHunter]

Anyway there are many good and trustworthy projects recent days too. Just maybe they are not so advertised as a scam ones...

[Rossy Akbar]

I think you need to look at the goal of what project do you wanna join for, that's the first thing you need to know,  if the goals wasn't clear maybe you need to twice. Even the admin member also you need to find out about their account, so it's kinda inteligency things you need to have if you wanna join some project.

[krampus854]

No it shouldn't because ICO's are now so very profitable because it have an very big potential of making money and it is very helpful to other people that they are now understand the importance of researching of what they are investing with.

[mostcrack]

It is tragic today that many of the most unprofitable projects are fooled by fake ICOs, investors' confidence in the project is slightly diminished because they are worried about the same events as them, impacting on the ICO project that really guarantees 100% profit and is slightly ignored by many people when it will be very profitable in the future, not a good solution if you want to close the existing ICO, of the many there are still better than everything, but back again to each of us, be smart in choosing ICO of course extracting the deeper information that is needed so as not to blame.

[bengsabeng]

currently many ico are failing, maybe investor confidence in ico has decreased. coupled with the chaotic market conditions made many ico fail.

[Ridwan Fauzi]

Too hypocritical if you only look at the ICO on negative side. Many people in this forum are rich because they are investing or being part of the ICO project. If you are one of the victims of ICO fraud it's your own fault, spending money on ICO is not as easy as you thinking.

You are lose money because you do not do research and are rash to decide. I do not agree if ICO is eliminated, there are many ways to make ICO a safe place for investors. Like a regulator that will organize all forms of ICO, so that every ICO who already has permission from the regulator then they can start opening participant or investor who will join.

[zergenyt09]

currently many ico are failing, maybe investor confidence in ico has decreased. coupled with the chaotic market conditions made many ico fail.

Well I don’t know much about this fact because I am not really interested in this ICO thing. But I do know that many ICOs are just scam based and they are looting people in different aspects. But here, the story is about investing and trading in bitcoins so people more prefer towards trading than investing in ICOs because everyone wants to play very safe game. So yeah, for that they are losing interest here.

[CASTIEL05]

I disagree with the OP's said about closing of ICO. Projects are technological invention and innovation, until there are many problems that the humane will encounter, ICO's will not be gone. ICO is really worth if it is successfully launch and not a scam. The only thing we need to do is to support/create the regulation in ICO to prevent scammers. ICO is good in our economy, it should not be eliminated instead, the people who will use it to fool people are those who must be put in jail.

[Onews1990]

Everything will get focused on existing tokens if nobody can be able to create new a new tokens, and not the junk that is coming every other day in the market

[mrbamboo]

According to statistics, more than 95% of ICO projects are fraudulent. Thus, the remaining 5% are viable projects. Choosing such a feasible project is very difficult. There are two skills you should study to increase the rate of correct selection of feasible ICO projects. First, study the project team, see if they are public on your identity. Second, take a look at the project they are proposing to be feasible or it is an illusory project.

[mrbamboo]

it is not fair that ICO is generalized as a fraudulent investment, some projects are well designed and they are serious about their projects.
we just have to be smart to pick and read at least their white paper shows the seriousness of the project.

But sometimes even if we do our best to avoid those scam ico we still believe some of them, simply because other scammers also give their best to look it realistic.

Yes, when we have shared about measures to recognize fraudulent ICO projects, scammers will also rely on it to provide distracting information channels to investors. Actually, ICO projects are risky for investors, and sadly, this is the main reason why investors start out failing to call.

[imapd]

So I will tell you an ultimate way to stop that insanity. Just dont be interested and investing to that scammy projects anymore. Then they will be forced to go.

[abas_ir]

According to statistics, more than 95% of ICO projects are fraudulent. Thus, the remaining 5% are viable projects. Choosing such a feasible project is very difficult. There are two skills you should study to increase the rate of correct selection of feasible ICO projects. First, study the project team, see if they are public on your identity. Second, take a look at the project they are proposing to be feasible or it is an illusory project.

which statistics that show that data dude?looking second opinion from other crypto expert would help us determine best ico and have good team and product.

[darthmaul]

I dont think that closing them will help at all. ICO's cant be closed as we are in the decentralised space and there is no way to control things up here.

If you see this as problem then we should be clever enough to identify the problem and fake ICO's. Learn from the mistakes of yourself and others and then try to judge the best out from the crowd.

That might help.

But removing the ICO concept is illogical or impossible.