Projects are abusing blockchain technology.

[batang_bitcoin]

They are just using the name of blockchain for their own sake but soon they will gone. People are learning that these projects are going nowhere because of what they are really trying to promote. They manage to collect millions of dollars without even real application or company to operate but just with the ride that they've been with blockchain. In the future, they are going to be eliminated one by one and those that will remain are that is being done by real companies w/ real use.

[castiloros]

This is just the way a project to attract investors only. to whether to join it or not necessarily depend on the respective investors. When did see blockchain, in this case, is only used as a guide, of course, could certainly know the decisions that will be taken. This will not affect the bad against the existing blockchain system. They merely used the name and perhaps consider this bad only those who do not read the detailed explanation of the project.

[tuthienloc92bk]

The fact that some projects do not become successful due to some reasons does not mean the Blockchain is being abused.

So, do you know why the fundraisings from ICO are decreasing? Because today's investors are wiser in investment. They know what blockchain can do and what benifits are bring back from blockchain. They do not invest in the projects because these projects define itself as "blockchain application". Blockchain is really unnecessary in these projects, even just a tool for tokenizing their fundraising. So, are you still calling it is a "blockchain application"?

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In the future, they are going to be eliminated one by one and those that will remain are that is being done by real companies w/ real use.

Yes, you have the same thinking with me.

I think it has its own selection process, anything is not suitable then be eliminated.

[tobatz23]

This is why most ICO's fail by by not knowing the used of blockchain and creating project without the application of it and the main purpose is only to attract investors to invest in their project and collecting money for their own pocket and sometimes it's called SCAM PROJECT.

[fulled]

At some point i agree with you, many project just covering thier modus using ico+blockchain. But, there are many project too that will need to applying blockchain technology because its necesarry, like project for real estate, banking and so on

[Maxre]

this already happened a few years ago.
and with the current market downturn, you will see which ones are really high quality coins, and which ones only become shit coins.

[Laxus215]

Yes that's the real picture of the industry as there is no strong regulation and compliance on the initial coin offering. A lotbof ICOs are raising millions of dollars through their token sales but they don't have the real working product and also there were some ICOs which had very unsuccessful testnet and mainnet launch. Still I believe there are few ICOs which are doing great in terms to take cryptocurrency on the mainstream level.

[Rati24]

But all because of their abuse, blockchain and cryptocurrency are growing in popularity. If it goes on like this, we can make money there as well as last year. If etf is adopted this year, the use of blockchain technology will increase markedly, which will have a positive effect on technological progress. When all the countries of the world agree on a cryptocurrency and blockchain, then there will be a development.

[bamb]

I know blockchain can be used for data integrity of any kind of data, what I do not understand is when people claim to use blockchain services that are funcioning well without blockchain and other ideas like using blockchain to distribute works etc!

[Ruby_Official]

Hi, this is Ruby-X. I definitely agree with you.
That's why we are preparing to be fund platform.
Ruby-X is ... ?
- Cryptocurrency and fund exchange platform.
- Private Fund management Platform.

Please check the lightpaper for more info thanks

[Dimas99]

There are actually a lot of such projects. They use blockchain to conduct ICO and raise funds, in fact, blockchain technology is not necessary for most projects.

maybe it's one of the things that makes fraud in a number of projects that are on ico so that investors are less interested in investing using the ico bounty of bad development, of course for the future of cryptocurrencies

[nisya]

I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.

Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?

What do you think about this problem?

I can say that in 2016-2017 is the trend of tokenization and they use ethereum to make a project. But unfortunately, the project is a delay or cancel because this year, we are in the down time and all coins are fallen too deep. I think blockchain will not become worst because blockchain is a system that controlling the project and I am sure that blockchain will be better in the future although they continue to abuse it. There will be a new project with a base of the blockchain technology, and I am sure that the project will have a real utility for the people.

[DesertOasis3]

I don't see your argument I am sorry. Blockchain is much more than cryptocurrency it is a distributed ledger that can revolutionise the way transactions are recorded and make databases more resilient. There is a good chance that some scam artists have pretended to launch a project to steal money from people but don't confuse that with the various application that Blockchain can fit.

[Xiaolongnu]

It's the fact and that's why they said that 90% of ICO in 2017 were scam. They abuse blockchain hype to raise fund, after get money they disappear as they didn't appear. In fact that we can't stop them, we need to be smart to not falling in scam.

[sinkfish]

I have been just in the crypto world for 5 months. I have tried to learn about blockchain, bitcoin, altcoins,... and I realize that blockchain is being abused.

Many projects are launched with the ideas of using blockchain. But actually, blockchain is not necessary to implement their projects. It just seems to follow the trend of tokenization. And their tokens are utility tokens, real "utility", which are utilized to raise their funds. There is no reality application of blockchain. I think everything will be good if it is enough. Will blockchain become worst if they continuely abuse it?

What do you think about this problem?

it is definitely scam ICO. they are not implementing anything on their so called project. what they do is just create a site that you can buy in with BTC or ETH, and show how much 'token' that you own. basically that is just a number shown to  you. those number  have nothing to do with blockchain or crypto whatsoever.

[marketone]

There are actually a lot of such projects. They use blockchain to conduct ICO and raise funds, in fact, blockchain technology is not necessary for most projects.

maybe it's one of the things that makes fraud in a number of projects that are on ico so that investors are less interested in investing using the ice bounty of bad development, of course for the future of cryptocurrencies

There are many fake projects launching under the blockchain which makes us lose hopes. So it is not bad for blockchain but for stealing people money they are launching the projects.

[Suwycu]

Yes, you are right and there are actually a lot of such projects, namely those that promote their blockchain project but do not contribute anything new, but simply promote their tokens!

[CreamIce]

there are so manty pojects and i would not be so angrey if there were only good and useful of tbem but right noew it is not so

I understand. Its quite frustrating to not find any good projects even after looking hard. But that's how it works friend. We have to work harder. With crypto reaching out there will be even more chaos, since there are always those who want to exploit. It only means that we need to be more and more careful with our investments.

[bolshojkush]

They are just using the name of blockchain for their own sake but soon they will gone. People are learning that these projects are going nowhere because of what they are really trying to promote. They manage to collect millions of dollars without even real application or company to operate but just with the ride that they've been with blockchain. In the future, they are going to be eliminated one by one and those that will remain are that is being done by real companies w/ real use.

The problem is that every month more and more people learn about cryptocurrencies and ICO. And of course not learning to distinguish good from bad projects, invest their money in the SCAM. Even HYIP projects nowadays thrive. Therefore, to replace the SCAM projects will come other SCAM projects.

[Airelves09]

Many projects are raising funds through ICO at the first time. They will package the project into a very technical block chain project. Then began to use the funds raised for development. Although many projects are unlikely to be realized. But often raising funds requires doing some practical work.