ICOs should only create Tokens with Working Products or Services

[sergienkoe]

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.

Only investing in old ICOs which already have working products

Why only in old coins?
I think that the new coins are not worse than the old ones. New coins are better because they can be invested at a very attractive price and they can show good growth.
The main thing is to carefully choose the projects you are investing in.

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[YUlka_Holod]

Yes, people have become more cautious about the choice of projects, we look at where there is a beta product, who will benefit one way or the other otrasli

[learningcrypto5421]

If so then there's no requirement for ICO's on the grounds that it appears that there's no one of a kind undertaking coming up and everything was excess. I comprehend your feelings, however, there's no administrative body to uphold or execute this arrangement.

[Atrom_84]

I agree with you.Many people creates tokens for making money after the ICO.And I think they should create tokens with new products.

[Mikcik]

With traditional startups, although the proportion of projects has to be more productive with projects without products. But most investors consider many aspects to invest rather than just projects and products that they will invest. For the blockchain sector, most startups are the idea and they need money to do that

[BitcoinMaster555]

I concede to you, numerous undertakings these days are simply pointless and only unimportant fantasies, and an in the wake of being recorded on the few trades, it will be a dump in light of the specific reasons, because it would be their item isn't that valuable to the network. I seek designers could comprehend the need after making a genuine undertaking, not only a dream.

[CryptoSimmonds]

This is a good idea but it requires a special organization to implement the rules and regulations that who will determine how ico will start with new working products and it will be easy for investors to find the perfect ICOs.

[InnocentDemon]

This isn't a simple issue to understand in light of the fact that ICO essentially implies crowdfunding for arbitrary individuals. These designers have a minimal motivator to proceed with the undertaking once they got their cash. Most tokens sink directly after they hit a trade and you can't sue them legitimately on the off chance that they gain little ground in the venture, so little that you inevitably abandon the task.

[Sid3d]

I completely agree. How can people believe in crypto currency if in most cases this very currency does not represent anything and is an emptiness, a soap bubble.
But if the companies conducting ICO could present a really working and useful project, I'm sure the attitude to the crypto currency would have changed for the better.

[Eurobot]

Yeah i am agreed with you. Most of the ICO projects don't have the product. They just only make the plan or vision and starts the ICO. Many ICO projects fail to make the product real.

[CoinOnTheBeach321]

If we analyze the present market situation we will see most of the projects are worthless from my point of view. They are just alluring people with attractive whitepaper but no real products.

[MoneyCryptor520]

I think only ICOs with real products should exist. Because some ICOs only build with the preplan and do the crowdfunding. Often investors fall into loss projects as the projects cannot fulfill the projects.

[SummerHamster]

Exactly! You just spoke my mind. I could not agree more.. It is very essential for tokens to be created with value or good purpose rather just with the intention of trading.

[cryptosmith03]

You are correct. It seems day by day worthless project’s number is increasing with great extend. Many of them ultimately turn out to be a scam. So very few actually come up with good approach.

[verpobs]

there are many people who do not want to make new projects. because people's money is not safe, so some of them are scam. but I support it. because it is a condition for development.

[denis-z12]

That wouldn't be bad actually, it would certainly limit the number of fake ICOs created without any product/MVP and without a plan to create one in the future. Only fake promises and big words.

[Forward_Thinking]

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.

[BlackandRed654]

Sounds good and I agree with your opinion. Most of the Ico’s are scam. Many of them have no functional projects and it’s the risk for investors if the project unable to work further.

[Crypdon]

The crypto market is mostly about speculation and when a new ICO is released investors are tempted to get those crazy returns you might get if the project succeeds. It is preferable to invest in a project with a working product, but if you invest is a riskier project then the returns can be bigger - just like the losses

[reynand]

I think that not easy to get a new token that has good prospects. at least, we can start it by looking for it through the good ico. and to get a good ico is a difficult thing because we have to really know about it. we also have to be more careful in order to avoid the scam ico.