The crypto space must be sanitized

[PuertoLibre]

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

I prefer trusting ICOETHICS list than ICOBENCH list, but for now this is the only resources we have to pinpoint trusted sites, I do not and never trust these ICO rating sites, they don't live up to their name, they charge payment to get a premium listing without doing a research if they are listing scam ICO, all they care is money.

I also have same opinion as you. ICOETHICS has a better and honest reviews than believing to the paid ICO review sites. Before investing in the project i always check the whitepaper,team,real usable product etc.

[bustedsynx]

You can try exposing all the bad eggs in the forum but something else will take its place. You can't catch all scammers, the market is still growing bigger and there will be more elaborate scams coming.

[arpon11]

The question is always how do we sanitized it? Many of us are not happy losing money to fake or scam icos.  I have over 20 icos and projects that I invested in last year but currently about 10 of them are scam projects and the remaining one my not recover.  The cryptocurrency market especially the icos market need to be regulated by governments agencies and to me that is the best way of bringing sanity to the market.

[StephenJH]

The cryptocurrency crowd funding industry has gained a tarnished reputation over the past couple of years due to an abundant amount of scams, ponzi schemes, and projects that don't deliver on their promises and a lot of this has to do with a lack of awareness so it's very important for investors to conduct their own thorough research and due diligence with each offering whether it be an ICO, IEO or STO and not just rely on benchmarks, hype or the latest launchpad to ensure the investment is worthwhile

Yes you are very correct the ICO market have been flooded with lots of scams and the failure of most ICO to meet up with they investors expectations most of the ICO in 2018 have recorded lots of losses due to high rate of scam and that have given the entire cryptocurrency industry a bad reputation.

You nailed it, almost every section of economy evolving and people need to adapt to new stuff. Best ones will survive and weak projects will not be elected by the capitalist wave of technology.

[mirgo1791]

as works with tasks on evaluation of release from developer and the market analyst to defines of one with selection as referring use with decision to stands or to moves from the market as securing of chance on winning and rejects the worse on risks of lose as completing terms with the project plan.

[Bezobraznike]

The question is always how do we sanitized it? Many of us are not happy losing money to fake or scam icos.  I have over 20 icos and projects that I invested in last year but currently about 10 of them are scam projects and the remaining one my not recover.  The cryptocurrency market especially the icos market need to be regulated by governments agencies and to me that is the best way of bringing sanity to the market.

   We don`t need to do anything, time will do that for all of us. If we don`t pay attention on some project, there will be no investors,
no community, project will fail very soon.
   I don`t support your decision to give governments to regulate crypto-space. It`s already have regulation, maybe it would be better
for governments to copy Blockchain and start doing something honest that will benefit all the people, not just politicians.

[MirclIX]

I think that the question of the need to reorganize the cryptocurrency market has arisen for a long time.
There is a growing number of useless projects and coins that litter the wallets of users.
If you choose only good projects, then perhaps useless ones will gradually fade into the background as unclaimed.

[swetka]

I think that the question of the need to reorganize the cryptocurrency market has arisen for a long time.
There is a growing number of useless projects and coins that litter the wallets of users.
If you choose only good projects, then perhaps useless ones will gradually fade into the background as unclaimed.

I completely agree with your opinion, but I’m worried about another nuance, which consists of the fact that all the money spent by investors on bad or junk coins should return to the cryptocurrency market in more popular and promising projects. I do not want such a large amount of funds to disappear without a trace in the pockets of scammers.

[crenfrosck]

You are right from a certain point of view. We have to consider how it should be done. Government services? No chance. Third party? Still biased. The ultimate key is to stop supporting shady projects which have not done anything in order to receive my money. The field will attract more serious enthusiasts who will have to prove their qualification. There simply can not be a single entity deciding who is and who is not worth investors´ money: we are in charge of our actions (and wallets ) and without demand, there will be less unprofessional teams asking for funding their idiotic ideas. Autoregulation is the best regulation  .

[renault18turbo]

I think that the question of the need to reorganize the cryptocurrency market has arisen for a long time.
There is a growing number of useless projects and coins that litter the wallets of users.
If you choose only good projects, then perhaps useless ones will gradually fade into the background as unclaimed.

I completely agree with your opinion, but I’m worried about another nuance, which consists of the fact that all the money spent by investors on bad or junk coins should return to the cryptocurrency market in more popular and promising projects. I do not want such a large amount of funds to disappear without a trace in the pockets of scammers.

Those greedy people who stoled bunch of money from the market will come again to the market on hype and then you will sell them your full bag, don't worry.

[Aligab166]

You are very much right. The entire cryptocurrency system needs total cleansing and be purged of all the current bad elements giving it a bad name.

[Dannev]

We are in a system where so many ICOs come in to attract investors. Some end up succeeding, while a larger percentage either fail or end up being scam.
Yes, we are operating in a decentralized system, where individuals are in full control of their assets. Yet, a decentralized system can still be controlled under a trusted body, when it comes to lunching an ICO.
Yes, every developer has the right to lunch an ICO and we have ICO listing sites. Since most of these sites have compromised in their listing, why don't we have a trusted body, that would volunteer, without collecting any charges, at least to sanitize and purge the system of scam ICOs.
Every developer that registers with them should be questioned and be ensured to have good integrity.
Then investors will have the confidence to invest into any of the projects.
Well, this may not outrightly nullify other ICOs from lunching independently.
This is just a suggestion.
Views, comments and contributions are welcomed.

That statement "...without collecting any charges" is why we are here today. It will be difficult to set up a body to do this sanitation out of freewill. But it's very achievable.

[george_hured]

It seems to me the only thing that today we can do is to exclude all possible scam projects in which developers are not verified. This is how we can get away from all these projects. I think that all this can help us with you.

[der_troll]

You have a right point and I mean that the market should be cleared of scam projects and fraud participants. People have shown that they are ready to invest right now and nobody wants to screw this up by taking part in a scam project. Always be careful guys and check the project before participating.

[crwth]

How would you do that anyway? Scams are sprouting up everywhere, and it also gets shut down, but the people who are doing it are not affected too much because they know that they could do it again. I think it's better to let everyone know about investing in the crypto space, not the crypto space itself to be sanitized because it's impossible.

My suggestion would be to find a way first to tell people to do their research first and make sure that they are investing the right direction and not the Ponzi Type, ICO Scamming (copy paste) projects, etc.

[alexsandria]

You are saying is simply to regulate the market and the systems that are already built in the crypto space, I do aware of that case, I see that is good to let the investors and developers be well maintained and reputable but that eliminates the essence of the blockchain anonymity where in, we can do freely, whatever we wanted, I think there should be an increase in security rather than verification, increase in system upgrades and maintenance that soon, me do not need escrow to manage our funds but to fully trust an entity for our transactions.

[mersal]

Sometimes this type of situation is always been more safer than it to be regulated are make some changes because the prophet will came under this type of system only so changing under trying to improving this will not been you are right idea in this situation.

[Aniwura]

You can try exposing all the bad eggs in the forum but something else will take its place. You can't catch all scammers, the market is still growing bigger and there will be more elaborate scams coming.

Another concern that I also have is that, even the new forms of projects that we now have in the crypto space, such as the likes STO and IEO, are also gradually being invaded by scammers, which means we have to be more careful.
If we cannot catch them all, we can avoid them all.

[maxreish]

Then investors will have the confidence to invest into any of the projects.

Sorry to say this but even if an investor will be questioned like a defense or whatsoever, some investors are good at answering questions or even had a convincing power. We have so accept the fact that most of the ICOs are not that successful but there are still ICOs that are created seriously. I do think it is not easy to cleanse the crypto community by your suggestions.

[cryptowolfsu]

Definitely, a solution has to be found for ICOs to regain the confidence of the investors.
On the next G20 meeting the global regulation of crypto will be on the table and they intend to find
a worldwide solution for it until end of 2020.