Stupid money

[lena1]

That's for sure.  Do not borrow or take loans to invest in ICO, you need to invest that you can afford to lose!

[craked5]

this guy should work now to pay his credit to the bank. then he should work more to get money for investments. during this period he could choose ICO smarter.

[Rexxxem]

"Smart money are just dump money went throu a crash", that's fair. A lot of people who are on top now in crypto are starte with a pery poor decisions and had been rekt

[PAKYU]

i am truly agree too. in this world stupid money is best. you have to find any stupid kind money  and collect them all like a pokemon trainer.

[JPSelzer]

I think it would be right. You raised a very important issue. You need to invest as much as you can lose. It seems to be a simple rule that should be followed by all investors. But unfortunately it is not. Therefore, if during the ICO it is mentioned what risks investors bear, then perhaps this would change the situation and many would think before investing their money.

[ivanklich]

I fully support this idea. I do not understand why people take loans for cryptocurrencies, but this nonsense can be forgiven. I think that if such people are stopped in time, many troubles can be ruled out.

[miropp]

Well, I think it would be a good solution for the project. But on the other hand, this can be used by scammers to throw off all the risks. I think every investor should think for himself and understand the risks he carries investing in such an unpredictable industry as cryptocurrency.

[oktana]

Not all ICOs are bad, maybe the ICO experienced by your friends, one of the ICOs, with the aim of only deceiving the evidence, is that many ICOs prove that they really floated the project, so before we decided to join the ICO we had to analyze what was The ICO and not only are tempted by the big profits by only investing in ICOs because the right ICOs are those that do not offer benefits in front of them but project development.

[spiker777]

Long but true. People need to be much more careful with the way they invest their money.

In finance there are terms called fast money and slow money, investing in cryptocurrencies is definitely fast money, high turnover, high expectations and fast ROIs. Slow money is more suitable for long term investments like stocks and bonds, and should not be applied to volatile market unless you are a thrll seeking idiot.

Keep it smart, play safe and don't give into FUD/FOMO

[loveinberlin]

I think that money isn't stupid but it is the real evil) People become crazy because of money. To my mind, this is the reason of most troubles today. to my mind, we need to have the right attitude to money

[aoluain]

Im sure he is not the only one in this situation, i would say a lot of people
borrowed money to put into ICO's and into Crypto late last year thinking
the values were going to keep rising.

In many peoples eyes there was little risk. That investment saying "only
put in what you can afford to loose" is so relevant.
 

[Bloodseekers]

Your message "you should invest the amount of money you are willing to lose". That's right. No one can prodict that ICO will succes or not that's why we must invest  the amount of money you are willing to lose. Some people when he see news about that project say "this project great, will go to the moon,etc" He be stupid and use all methods including borrow money at the bank

[joletartare]

I agree 100% with the Idea of investing only what we can loose.
The translation of this sentence in my language sounds like "don't invest fiat, invest only time"... and that's what I do with bounty campaigns.

[MoonCrypt]

as you said you always tell your investors to put in what they can afford!! the man took a huge risk and it didnt pan out well!! but sometimes are some risk smart!! Bank Loan! that was Xtreme... My advice is for him to just come out with the truth early

[Retro6]

One guy wrote a post on the Internet. He invested in an ICO and did not know what to tell his wife because the money he invested were borrowed from a bank and the ICO failed. Nobody wants those tokens anymore. So, what should this guy do now, in your opinion?

     When we were launching an ICO I spoke to almost all of our investors. Not with all of them but with the majority. My message was simple – you should invest the amount of money you are willing to lose. I kept saying this over and over again. I even refused some of the potential investors. Not many, but still I turned two or three of them down. It was not about ethics. It was not about morality. It was not about reputation.

The thing is that one of my businesses is a detective agency. Thus, I saw many malicious fraud cases. People say a project will be a success and then some force majeure happens. This is when infuriated investors hire detectives to find the fraudsters. We conduct a thorough investigation on the case and see that no one actually intended to cheat at first. It just happened.They just did not calculate their own strength. Did not foresee all the possible outcomes. In fact, willful fraud cases are not as common as single cases of stupidity. But the outcome is always the same – court cases initiated by the investors and jail for the stupid entrepreneur.

Some people wrongly assume that it is possible to flee – there were cases when we had been searching for 2 years but managed to find people in the end. Whatever large amount of investments a person gets, they will lose it in a couple of years if they have no experience of managing such sums. Moreover, they will end up in a much worse situation than they were before. 

Knowing all this, I have decided to work only with those investors who were ready to lose money. Even though my thoughts are unlikely to be heard, I highly recommend that all ICOs adopt this policy. We all play a very high-risk game: 9 projects out of 10 fail after collecting money. Different people, including ones like the guy I was talking about, invest into projects; they invest money borrowed from banks. These people are stupid. They are not ready to be investors. The ICO team has to explain that investing is out of their league. Maybe they are just not suited for this.

However, ICOs do not do this. As a result, after crying his eyes out, our guy will get angry and file a report to the police to initiate criminal proceedings against the ICO team. The team will have many unpleasant years ahead.

So maybe it is reasonable to prevent such situations? Maybe saying ‘guys, we can fail’ at the beginning makes perfect sense? ‘Investing credit money in an ICO is a bad idea and this is why we refuse you’?

The perception of reality is different amongst many people and especially when money is involved. It should be common sense for any investor to understand the risks involved in any startup. This is basically what an ICO is, a startup. Most startups fail, some have varying success, some are wildly successful...and the difference between all three could merely be time. Amazon for instance was going nowhere for years until just fairly recently. Now it is one of the biggest companies in the world.
As an investor you need to answer some serious questions:
1. Am i in this for the long term or short term?
2. Am I actively or passively investing time/money into the project (personal responsibility)
3. How much am i willing to lose
4. Will i conduct my due diligence in the project.

Number 4 is often the most overlooked question. Do I as an investor understand the product i am backing. Do i understand the risks, do i know who is running the company/project?

There are too many people shirking personal responsibility in life and this is the same thing with investing.

[GreatGEEK]

Unfortunately, in pursuit of profit people ignore risks. Investing money is a risky business in any market. The most often mistake such people to do is to invest all their money in a certain project because they had heard someone got a big profit without puzzling out how it works. If you want to be successful in the crypto industry, you should invest money affordable to lose, especially in such ICO projects with 50/50 chance of winning.

[Cornett]

One guy wrote a post on the Internet. He invested in an ICO and did not know what to tell his wife because the money he invested were borrowed from a bank and the ICO failed. Nobody wants those tokens anymore. So, what should this guy do now, in your opinion?

     When we were launching an ICO I spoke to almost all of our investors. Not with all of them but with the majority. My message was simple – you should invest the amount of money you are willing to lose. I kept saying this over and over again. I even refused some of the potential investors. Not many, but still I turned two or three of them down. It was not about ethics. It was not about morality. It was not about reputation.

The thing is that one of my businesses is a detective agency. Thus, I saw many malicious fraud cases. People say a project will be a success and then some force majeure happens. This is when infuriated investors hire detectives to find the fraudsters. We conduct a thorough investigation on the case and see that no one actually intended to cheat at first. It just happened.They just did not calculate their own strength. Did not foresee all the possible outcomes. In fact, willful fraud cases are not as common as single cases of stupidity. But the outcome is always the same – court cases initiated by the investors and jail for the stupid entrepreneur.

Some people wrongly assume that it is possible to flee – there were cases when we had been searching for 2 years but managed to find people in the end. Whatever large amount of investments a person gets, they will lose it in a couple of years if they have no experience of managing such sums. Moreover, they will end up in a much worse situation than they were before. 

Knowing all this, I have decided to work only with those investors who were ready to lose money. Even though my thoughts are unlikely to be heard, I highly recommend that all ICOs adopt this policy. We all play a very high-risk game: 9 projects out of 10 fail after collecting money. Different people, including ones like the guy I was talking about, invest into projects; they invest money borrowed from banks. These people are stupid. They are not ready to be investors. The ICO team has to explain that investing is out of their league. Maybe they are just not suited for this.

However, ICOs do not do this. As a result, after crying his eyes out, our guy will get angry and file a report to the police to initiate criminal proceedings against the ICO team. The team will have many unpleasant years ahead.

So maybe it is reasonable to prevent such situations? Maybe saying ‘guys, we can fail’ at the beginning makes perfect sense? ‘Investing credit money in an ICO is a bad idea and this is why we refuse you’?

The perception of reality is different amongst many people and especially when money is involved. It should be common sense for any investor to understand the risks involved in any startup. This is basically what an ICO is, a startup. Most startups fail, some have varying success, some are wildly successful...and the difference between all three could merely be time. Amazon for instance was going nowhere for years until just fairly recently. Now it is one of the biggest companies in the world.
As an investor you need to answer some serious questions:
1. Am i in this for the long term or short term?
2. Am I actively or passively investing time/money into the project (personal responsibility)
3. How much am i willing to lose
4. Will i conduct my due diligence in the project.

Number 4 is often the most overlooked question. Do I as an investor understand the product i am backing. Do i understand the risks, do i know who is running the company/project?

There are too many people shirking personal responsibility in life and this is the same thing with investing.

that's a good statement. questions and logical thoughts. it's very compatible. an investor with this kind of approach is the real investor who knows what he wants. such questions enable us to better understand project and investment. thank you.