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Author Topic: our project has no use of crypto currency. can I do ico?  (Read 95 times)
georgewu
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June 07, 2018, 03:09:13 PM
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hi, all:

our project has no use of crypto currency. can I do ico?
our purpose is just to finance our product development and marketing.
Thanks.

george wu
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moshuk
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June 07, 2018, 03:12:35 PM
 #2

No This forum is dedicated to bitcoin and crypto currency.

georgewu
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June 07, 2018, 03:30:31 PM
 #3

No This forum is dedicated to bitcoin and crypto currency.

I understand it is a forum for crypto currency.

In ethereum, there is something called smart contract and crowdsale.
https://www.ethereum.org/
Kickstart a project with a trustless crowdsale

where is the place I should go to do some crowdsale?

george wu
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June 07, 2018, 04:17:01 PM
 #4

Yes. Look up "security token". You will have better luck on an Ethereum forum, though.

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June 07, 2018, 05:50:37 PM
 #5

Yes, you can do ICO. There are so many projects that are not connected with cryptocurrencies and blockchain, but they do their ICO just as a form of crowdfunding. But you need to make it creal from the very beginning not to disappoint anyone.

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June 07, 2018, 07:08:19 PM
 #6

Yes. Look up "security token". You will have better luck on an Ethereum forum, though.

Curious, wouldn't a "utility token" be what the OP is looking for since his project won't be utilizing a coin as a tradeable asset in the end? That said, as you noted crowdsale contract through ethereum is OP's best option.

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June 07, 2018, 07:08:29 PM
 #7

I think, it is better to use some usual platform like kickstarter. ICO without any need of crypto is always disappointing, you'll get much negative from such decision.
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June 07, 2018, 11:30:54 PM
 #8

No This forum is dedicated to bitcoin and crypto currency.

I understand it is a forum for crypto currency.

In ethereum, there is something called smart contract and crowdsale.
https://www.ethereum.org/
Kickstart a project with a trustless crowdsale

where is the place I should go to do some crowdsale?

george wu


I'd suggest that you make yourself familiar with the crypto space and how an ICO usually is done resp. the different approaches. Better even get someone who knows the space, otherwise, this idea of yours may go seriously wrong. At least you lose a lot of time, trust any maybe money.


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June 07, 2018, 11:35:20 PM
 #9

That's how ICO must do, supporting a real company and project. But if you're not going to include it with cryptocurrency, your going to a crowd sale.

What's your product and company name?

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June 08, 2018, 12:19:52 AM
 #10

Yes bud you can still do ICO even if you are not going to offer any coins. For me thats crowdfunding and you collect funds for your project.
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June 08, 2018, 05:04:36 AM
Last edit: June 08, 2018, 05:29:03 AM by odolvlobo
 #11

Curious, wouldn't a "utility token" be what the OP is looking for since his project won't be utilizing a coin as a tradeable asset in the end? That said, as you noted crowdsale contract through ethereum is OP's best option.

A "utility" token is a token that is necessary in order to use the service. A "security" token is a token that works like a security - you don't use the token, you just hold it as an investment and you get some kind of return. Since the OP doesn't have a good use for tokens in his service, a security token would be the appropriate choice.

Also, the primary reason for a utility token is to get around being considered a security. (That's why there are so many stupid projects that use a utility token for a service that doesn't need its own token.) But now that the SEC has stated that they consider a utility token to be a security, that loophole no longer exists (at least in the U.S.).

Yes bud you can still do ICO even if you are not going to offer any coins. For me thats crowdfunding and you collect funds for your project.

You can't do an ICO without coins. ICO is Initial Coin Offering.

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June 08, 2018, 08:59:59 AM
 #12

hi, all:

our project has no use of crypto currency. can I do ico?
our purpose is just to finance our product development and marketing.
Thanks.

george wu


You can, but you will have to change your project. Let me explain:

You will be asking people to give you money for a digital asset (token or coin) to launch your project. These people will want a return on that investment and that means that the token has to have a value. There are two ways of providing value:

- Utility: the token allows you to buy a service or a product or gives you a discount when doing so.
- Dividend: the owners will have a share of profits of some short. Sometimes voting rights too.

You can mix these.

What you can't do is to sell tokens, get the money and forget about the investors. That is, by definition, a scam.


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June 08, 2018, 01:50:41 PM
 #13

As i understand any project can launch their ico in nowadays, just propose community some token and how useful it can be in crypto world
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June 08, 2018, 02:28:10 PM
 #14

It has been seen that many projects will not be mined, but it is in ico. Now ico is a way of financing. There is no provision that it must use blockchain.
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June 08, 2018, 08:02:52 PM
 #15

hi, all:

our project has no use of crypto currency. can I do ico?
our purpose is just to finance our product development and marketing.
Thanks.

george wu

Nobody will stop you.  Considering 85% of ICOs never move beyond the imagination phase, I'd say the majority of them never exist at all, let alone have anything to do with crypto.

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June 09, 2018, 08:16:08 PM
 #16

I also think so. It seems the ICOs we have witnessed all meant the same thing, but they just gave out the coins to participants and we've realized that the coins or ICOs are not functioning anymore. But if you're not giving out coins then you should let contributors know the other benefits they'll get from the project

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