ICOs: The Cancer of the Digital Currency Industry

[okeanos]

This year we have seen lots of ICO which have similar project idea or useless utility of created token. I have seem rare of the ha a solution of a nowadays problem which can be successful in long term.

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[wongdeso]

Why should blame ICO? without ICO, crypto might not develop and not many will know, while the bitcoin cash itself is also present because of an ico. I think ICO is a place to attract people to get coins and be useful. Even if the scam is a human who has damaged it.

[AUruHM]

I think the idea was great but human savvy is endless. That's why first ICOs were smart and most of it live now. But so many scam and empty ICOs today kill the idea of cryptocurrency. I think this ICO boom play so negative role that it hard to think better how to kill crypto

[Homeless_Victim]

I think the idea was great but human savvy is endless. That's why first ICOs were smart and most of it live now. But so many scam and empty ICOs today kill the idea of cryptocurrency. I think this ICO boom play so negative role that it hard to think better how to kill crypto

I think the venture capital firms are the root of the problem.

[petrcoin]

I partially agree partially not.

But icos raising stupid amount of money are cancer i think. For example EOS and the 4 billions dollar they got!

[Docbee]

Not using money raised during ico is the cancer killing crypto, it discourage new investor because of scamming behaviour, all these fraudsters ceo should be put behind bars to serve as lesson to others who are spoiling the good reputation of crypto.

[ronnis.gomes]

I agree that Bitcoin Cash is not the only one to blame for the downturn in the market, maybe it just had a bigger influence on the last fall, but the truth is that the market has been weak and down since the beginning of the year.

[Bonwin]

The forks that were created were part of the factors and there are definitely others.
Some people who have been looking forth to a dump in price,in order to buy more coins cheaply, are also contributing to the fall, which is why they find joy in spreading FUD.

[Homeless_Victim]

I agree that Bitcoin Cash is not the only one to blame for the downturn in the market, maybe it just had a bigger influence on the last fall, but the truth is that the market has been weak and down since the beginning of the year.

We can blame the ICOs and the venture capital firms for making the market weak. Really it's been sick, it has a cancer and the venture capital firms are responsible for that cancer.

[Homeless_Victim]

Hopefully the SEC will go after the venture capital firms next, but I'm not holding my breath for that!

After Friday’s SEC Actions, Experts Say ICO Party ‘Is Truly Over’
https://www.coindesk.com/after-fridays-sec-actions-experts-say-ico-party-is-truly-over

[giogio0504]

I cannot say so, there are a lot of projects which on the contrary can save crypto industry. But the bad thing about all this is the fact that the market is full of scams, and this does not give opportunity for good ideas to develop. I would suggest to all people who are going to invest in icos, that they should visit www.icoguide.com, as this is the only platform without paid rates.

[Homeless_Victim]

I cannot say so, there are a lot of projects which on the contrary can save crypto industry. But the bad thing about all this is the fact that the market is full of scams, and this does not give opportunity for good ideas to develop. I would suggest to all people who are going to invest in icos, that they should visit www.icoguide.com, as this is the only platform without paid rates.

If the venture capital firms wanted to actually deliver good digital currencies to the industry then they would have developed good, solid, transparent fundamentals for their coins first and released them in the way that other currencies began like, Bitcoin and Litecoin. Then over time as better fundamentals developed then their coins would have increased in value.

Instead the criminals that run the venture capital firms found vulnerabilities in the digital currency software and industry and then figured out ways to exploit those vulnerabilities and make a whole ton of money from those vulnerabilities.

[Homeless_Victim]

The Rise of the ICO, and What It Could Mean for Venture Capital
https://www.visualcapitalist.com/ico-crypto-venture-capital/

[Hades92]

O-o-o-kay.  Did you write that article and want to point people to it, or was there something else you wanted to say about it?  It's not a very in-depth piece of writing; it's basically calling ICOs scams without providing a real argument for why people should think that.

Not that I completely disagree with it, but I've got my reason for thinking so and if I just wrote "ICOs suck; they're killing the crypto industry" it wouldn't be worth much as a published blog article.  Know what I mean?  Want to spark some sort of discussion about this?

I wonder if we'll ever know how many individual investors lost money on the ICOs. I would think the number has to be in the hundreds of thousands, if not a few million.

Investors in the last year lost not even millions, but tens of millions of dollars, investing in ICO projects. However, this does not mean that this activity is generally detrimental to cryptocurrency. Since there are a lot of fraudulent projects in it, which is a crime, states should have started regulating this type of activity a long time ago in order to protect the rights of investors.

I never bought an ICO, but I knew early on that they were a problem. I remember seeing an interview with Andreas Antonopoulos in the summer of 2016 and he warned people to not invest in them. He said they were basically scams, I believed that then and I believe it now.

Study Concludes 80 Percent of ICOs in 2017 Were “Scams”
https://ethereumworldnews.com/ico-80-percent-scams-2017-2018/

in 2017 I participated in ICO bounties so much but not so if I say 80% is scam maybe if projects that have airdrops can be so because most do not have a clear team or structured training

[Lantind]

in terms of decreasing altcoin so far it is indeed not an error that occurs through bitcoin cash but there are many investors who sell their assets in preparation for the end of the year, but now the market will be a little difficult to recover.

[guoyu78]

I don’t really know but this is not really making any sense to me cause you didn’t give enough reason as to why anyone would consider ICO to be scam. ICO is good and is a way for companies to start up a new project and get funds to raise it. So you don’t just call them scam or whatever you’re really getting at just because think so and without no reason. BCH fork is the reason for the crash recently, and I do know the whales are playing their part too in taking down the market price to buy at cheap rate. If you want take it or leave.

O-o-o-kay.  Did you write that article and want to point people to it, or was there something else you wanted to say about it?  It's not a very in-depth piece of writing; it's basically calling ICOs scams without providing a real argument for why people should think that.

Not that I completely disagree with it, but I've got my reason for thinking so and if I just wrote "ICOs suck; they're killing the crypto industry" it wouldn't be worth much as a published blog article.  Know what I mean?  Want to spark some sort of discussion about this?

I wonder if we'll ever know how many individual investors lost money on the ICOs. I would think the number has to be in the hundreds of thousands, if not a few million.

I’m not really getting this, are you trying to label all ICO as scam? Quite funny. I do know that a lot of the ICO today are scam but they are easy to identify and so you can avoid them. If you fall for any scam ICO here that would be because you didn’t take your time to do the research before investing. And ICO is not the reason why the market price of crypto is down, you can go check out why, it’s on the media already and has nothing to do with ICOs.

[Homeless_Victim]

O-o-o-kay.  Did you write that article and want to point people to it, or was there something else you wanted to say about it?  It's not a very in-depth piece of writing; it's basically calling ICOs scams without providing a real argument for why people should think that.

Not that I completely disagree with it, but I've got my reason for thinking so and if I just wrote "ICOs suck; they're killing the crypto industry" it wouldn't be worth much as a published blog article.  Know what I mean?  Want to spark some sort of discussion about this?

I wonder if we'll ever know how many individual investors lost money on the ICOs. I would think the number has to be in the hundreds of thousands, if not a few million.

Investors in the last year lost not even millions, but tens of millions of dollars, investing in ICO projects. However, this does not mean that this activity is generally detrimental to cryptocurrency. Since there are a lot of fraudulent projects in it, which is a crime, states should have started regulating this type of activity a long time ago in order to protect the rights of investors.

I never bought an ICO, but I knew early on that they were a problem. I remember seeing an interview with Andreas Antonopoulos in the summer of 2016 and he warned people to not invest in them. He said they were basically scams, I believed that then and I believe it now.

Study Concludes 80 Percent of ICOs in 2017 Were “Scams”
https://ethereumworldnews.com/ico-80-percent-scams-2017-2018/

in 2017 I participated in ICO bounties so much but not so if I say 80% is scam maybe if projects that have airdrops can be so because most do not have a clear team or structured training

How much do people earn with the bounties?

[AutoBlockX]

I don’t think it’s fair to say that ICOs are the cancer of digital currency. The truth is that without these ICOs and new altcoins like the AutoCoin, the digital currency would be useless. ICOs are crucial because they give investors that chance to explore new currencies and invest in ones, they find promising. Just because a couple of ICOs are fake doesn’t necessarily mean that they’re all useless. You can’t judge all by the characteristics of one.

[Homeless_Victim]

I don’t think it’s fair to say that ICOs are the cancer of digital currency. The truth is that without these ICOs and new altcoins like the AutoCoin, the digital currency would be useless. ICOs are crucial because they give investors that chance to explore new currencies and invest in ones, they find promising. Just because a couple of ICOs are fake doesn’t necessarily mean that they’re all useless. You can’t judge all by the characteristics of one.

I think the venture capital firms are the root of the problem.

[Homeless_Victim]

ICO Funding has overtaken Angel & Seed Venture Capital
https://medium.com/cashlink-crypto/ico-funding-has-overtaken-angel-seed-venture-capital-c44affbb6dd3