Why Exchange Run ICOs may be a bad idea

[yesyes18]

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

[BQ]

if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?

[VanDeinsberg12]

if there were only a 1000 buyers, was there strict limits (for some reason)?
if anyone was allowed to contribute (almost) any amount, it seems like it should work out great, with a lot of people participating.. why not?

It seems like binance is not putting any limitation to how much someone able to buy BTT. It looks like they are only accepting the big whales that can be considered as accredited investors only. that makes sense 1k buyers acquired all of BTT on binance.

[sulis sudibyo]

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I think it will be a place for the Whales to manipulate prices. and those who will suffer are the givers in the exchange later. there will be a dump and pump during the initial weeks of the coin listing

[fudster]

You'd be lucky to have bought the first, did they offer bonus to the very first few who bought the tokens?
I'm not a fan of bittorrent but if it was piratebay who released tokens, I'm probably the first to list in the whitelist.

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I think it will be a place for the Whales to manipulate prices. and those who will suffer are the givers in the exchange later. there will be a dump and pump during the initial weeks of the coin listing

Pump and dump always happen in every coin even with BTC. There are just traders with lots of money to spend who already aimed higher.

[ansi]

I can see from a whole total perspective, i think th Binance move was total bullshit doing this " ICO platform ", it's like they wanna dominate the cryptosphere for themselves, so any ICO that gets there will get so hyped eventually, why? because it's on " Binance ICO Platform ".

I guess there is already working platform for ICO money raising a stuff like that, it's still doing it through some exchange & i can see this a whole BUSINESS, the bad type of business one chasing money wherever it is.

Binance is looking for any other kind of gathering money in this cryptosphere because of this bear market, it's not a shame to chase money, but been such greedy, i won't be surprising seeing them doing another platform for ICO review too, or a DEX too... !!!

This is going out of hand actually, as the ICO been done there will be listed in Binance eventually because BTT will be trading in there tomorrow January 31-201), imagine that !!!

I don't like this Monopoly Kind of strategy, crypto is already screwed thanks to this Monopoly of BTC & major cryptos out there where good crypto projects have 0 chances to compete with them.

[ynatopak14]

Binance will have the demand as long as it is running on their own exchange.
People will seek the 50 percent off from their transaction fees on using like BNB.
That 50 percent s really huge if we are talking about the number of tokens to be transact especially if you are doing daytrade.
This will help the coin to have the demand.

[semobo]

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

I just now learn about that ICOs were run by binance but i don't think it is a good idea unless they know those projects have some good future and find value for the tokens because of they run a failed ICO means their reputation will be disturbed and why they are doing this when they are at most preferred exchange by traders.

[masterzino]

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

There is no need to be a bad thing. Binance are getting another source of revenue, the ICO get insta buyer traffic and listing and it's more probable Binance to check it deep is it worth it. Because they are lining their reputation with direct ICO listing.

Hitbtc had similar market an year or two ago and it was quite popular.

[romero121]

Exchanges running ico's is not at all a bad idea, because each and every ico go for listing depending on different exchanges. If they have their own exchange, it is an easy task and gains good reputation. Most ico tokens gets distributed, but lacks in listing on exchanges. Coming to the BTT, they're a big protocol with worldwide userbase. Now they've made their tokens through the TRC-10 Tron platform. As they're already established the token sale went well within few minutes. With every project similar thing won't happen.

[rosezionjohn]

I see your point and the suspicion from having only 1000 buyers is warranted. I wish there would have been more participants. On the other hand, this could turn out good too. Other major exchanges may follow soon and with better policy to distribute to as many holders.

[Gary Levanevskii]

I think that buying tokens on the exchange is convenient. Therefore, I do not think that ICO on the  exchanges is a bad idea. I think that in the future more and more projects will enter the market this way.

[boolog]

So we all witnessed the first major exchange-run tokensale, the BTT tokensale at Binance. Binance has decided to list tomorrow and looking at the sentiments around the reply given, it may not be a good idea for future projects.

Many of CT believe it's just a mere manipulation by whales since they'll always by first. The BTT tokensale had just about 1000 buyers and people think that's where great manipulation will come from.
So how does this determine the future of other similar projects. Now, let's wait to see if it'll be a pump/dump scheme so that we can better conclude.

source: https://twitter.com/cz_binance/status/1090572501476765697

For me it sounds also as if only the big whales got btt token. To stabilize the btt price, maybe that is good, even if the price can be heavily manipulated. Still, you should not hype an ico just because it is done on Binance.

[kindbtc]

I too find tgis strange if some ico raises funds or sells its token on some exchange, exchanges are not for raising funds they are for trading so i think traditional way of icos raising funds is normal to me and if there are other platforms specific to help raise funds they are good too but raising funds on an exchange does not make much sense.

[encryptedht]

Will everyone need BTT  to trade? Did they said it?

[mdzahed134]

I usually not seen before Binance selling ICO token. BitTorrent token is the first time i think. I don't know why binance CEO anger, in the public every opinion not always postive even not negative. Latoken running ico sell a lot project also i see dobitarde exchange this is not a bad idea. Because investors  can easily buy token without any additional process like as KYC.

[BQ]

I don't know the specifics but www.coinmetro.com are planning on having an ICO platform aswell, hopefully it'll be more open..

[LordShanken]

It all depends on how the tokens have been distributed. If the majority is in the hands of one person, then there is a high probability that manipulation may occur. If the tokens were distributed evenly between 1000 investors, it should not happen any manipulation.

[CaMeRoNy]

It all depends on how the tokens have been distributed. If the majority is in the hands of one person, then there is a high probability that manipulation may occur. If the tokens were distributed evenly between 1000 investors, it should not happen any manipulation.

Unless all investors are interested in this, as in principle, and this scheme operates. Of course there are big whales, but more manipulation takes place when several players are interested in achieving some one goal.

[marksayson]

I don't think there can be no manipulation, instead it would help regulate the ico because the exchange will be the one conducting the tokensale. And it could boost the popularity of the coin.