ICOs should only create Tokens with Working Products or Services

[Reality5]

Better than just creating tokens with working products, they should create tokens that have people who have agreed to use them for their intended purposes. Buying a token because it has a working product is still just speculation if you don't plan to use that token to get that product.

You also have defined what a "working product" is. It is a beta version? It is phone App? It is a non-blockchain tool? Does it have to be on the blockchain?

In my opinion the biggest flaw in ICO buying is that people don't pay attention to the team. They buy the shine. The idea. Good ideas still fail through poor execution. Happens all the time. And THAT explains what is wrong with many ICOs. Buy the team, not the shine.

This is quite true. People shouldn't just buy a token without having the plan to further make use of it for the purpose. Some just buy in order to resell at a higher price.

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[blockchainmarketus]

This is actually true. Most people only create this tokens because of trading it. Not all really have value.

yEAH, leave the token with no real products. theu just pump and dump coin. Too many scamers whp profit from ICO. Most ICo extended cause too many shitcoin relaise. I think exchangers should delist low volume coins and ban no working products ICO or new coins.

[Inuldarahrendah]

currently, the more new coins appear together with ico. with many of these new coins we have to be more careful to pick them up. Good coins will have good prospects in the future. and I think to put a coin that is not good is not easy.

[tippytoes]

This is actually true. Most people only create this tokens because of trading it. Not all really have value.

yEAH, leave the token with no real products. theu just pump and dump coin. Too many scamers whp profit from ICO. Most ICo extended cause too many shitcoin relaise. I think exchangers should delist low volume coins and ban no working products ICO or new coins.

It is still hard to control the creation of tokens as it is relatively easy to create one. No one is a central entity that can manipulate such tokens. One thing a user can do is do his own due diligence. Study the project first, check its background, its legitimacy and its feasibility to launch a real working product, how strong the project in terms of community support and many others. Don't jump the hype without even browsing their website.

[ridho002]

Yes, that's right, because with products that work and run smoothly will make people continue to use tokens from these products and the price in the market can continue to increase, so the token not only hopes for traders to be more expensive, but also to their users.

[obility]

Well it's a pity that many people in the crypto space are only there for the money they can make from the space, most people don't really care about the tech, whether it has a working product or not. they are in for the money and not the tech.

[mbally]

Well it's a pity that many people in the crypto space are only there for the money they can make from the space, most people don't really care about the tech, whether it has a working product or not. they are in for the money and not the tech.

That's just the simple truth, most people don't really care about the product, they don't care if they have working product or not, they most care is the price, and i think the moment people starts to care about the working product, the better for cryptos, the better some of fake coins will go away and real coins will stay.

[entrepmind23]

That's just the simple truth, most people don't really care about the product, they don't care if they have working product or not, they most care is the price, and i think the moment people starts to care about the working product, the better for cryptos, the better some of fake coins will go away and real coins will stay.

Nowadays, people are more concern about the profit they would be making than the use case of the project which would be what we should focus on. What most ICOs doing is the opposite of those who are going to be listed in the stock market because the company has to prove itself first that they should be worthy to be listed and has a capital requirement and they already have a proven track record which would make the people buy the stocks while in ICOs, they collect the money first before doing anything that's why many are being scammed.

Well it's a pity that many people in the crypto space are only there for the money they can make from the space, most people don't really care about the tech, whether it has a working product or not. they are in for the money and not the tech.

It's a given that it would be very risky because anything can happen which would make the team backed out leaving the investors in vain that's why a working product should be introduce first before having an ICO so that people can assess whether it would be worth investing in. I think this should be one of the qualifications but then the problem is that there are no authorities who will assess the approval of those ICOs.

[fosco333]

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

With this way, the investors may be able to avoid scam projects. Some scam projects actually have MVP, but at least they will waste their money and time if the scam project failed. Some real companies want to collect funds first to develop their working product, unless they already have some capitals.

[ishirut009]

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Yes. i saw a lot of those projects and in fact, i think they outnumbered the good projects. A lot of token ico's now are just here for the quick bucks. Remember that some rumor says that a lot of HYIP creator goes into the crypto space so i expect this thing now.

[CrazyBTC7800]

Really the people are using cryptocoins just for trading purpose or profit purpose. These coins are not used to solve any problem of the society. So, ICO should create such kind of cryptos which will be used for the society.

[tailor.and]

Good concept but if every ICOs has to came under a regulations or authority then it will possible to take this step. Or Only investing in ICOs which already have working products. So, need a time for ICO's for going through with products.

[Walter edmond]

i agree with you. in my opinion your idea is good by applying this we can reduce to get scammed. hope in near future ICO's authority will think about this idea.

[28days_ever]

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

You say it right, but every new Ico created is practically a clone. Already, ideas are simply exhausted in the pursuit of profit, and many simply create things that are easier and faster. Therefore, there are many counterfeit Ico that do not bear any value. And creation of a product in general can afford a unit.

[Sonofshmidt]

It would be great if was requirement to the projects to have MVP before going to ICO. As statistics show a big amount of ICOs are scams, that kills this market.

[Vargum]

Enough of people just creating tokens just for the sole purpose of trading it in exchanges and making money after the ICO. In order for a token to survive or stand the test of time, there is need for it to have a working product or service it directly supports. This is what a lot of tokens are lacking today.

In my opinion, any token to be created should bring in something new. It must be a token that will add value to the society and not just for the purpose of trading it in exchanges and cashing out money.

If we actually want cryptocurrency to survive and appeal to the ordinary people, then we must create ONLY tokens relevant to the society's needs or solves at least a particular societal problem.

Totally agree with you. ICO of late, a lot, but promising and good projects are actually few. Each ICO is designed to solve some social problems. But that the token was not dead in the future, it should be followed by a real, working product.

[Atrom_84]

create ICO's with working product that is unique idea i must say. if this idea can be implemented i believe all the token will come up in market for long time.

[OneyZ]

I agree with you totally. The investors just buy and store their cryptos for future. They just wait when the price will be increased and make a profit. Actually, there is no value if you don’t use it for solving the societal problem.

[thatsnotmyname]

I agree, I only personally invest into ICOs that have a working product, even if it is in Alpha.

It means I can see what they are trying to achieve, what I am investing into and I can give feedback on where they are going wrong. It also shows that they haven't just created it just for an ICO as money, teamwork and time has been spent way before they have even got close to fundraising.

The problem is that you can write a white paper, have a website and start fundraising and it's very hard to keep them to their word about what they are going to do.

[TupMan007]

There is no value of anything if that thing is not used for the society. So, the crypto coins should be used for the society. There are many problems in our society and the general people are not able to buy cryptos. So, I think it should reach to the general people also.