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Author Topic: Don't blame the idea(ico) blame scammers  (Read 508 times)
Sharon121212
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June 11, 2019, 09:54:27 PM
 #1

Am making this thread because of the numerous wrong perception  seeing. So people are actually castigating cryptocurrency and initial coin offering idea for loses the made through it rather than really seeing the cause of the problem.

Initial coin offering is one of the great ideas in cryptocurrency and we know that it was efficient in 2017. Through initial coin offering some great coins of today where launched people keep overlooking the good attributes initial coin offering has offered but are busy bringing it down the more and making all hope of initial coin offering being as it once was hopeless.

It's too bad Scammers stated getting involved  in initial coin offering and projects without logic and idea also got involved but this doesn't mean good and real project are not involved or want to get it but the stigma had made developers develop cold feets

PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it
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June 11, 2019, 09:59:15 PM
 #2

You cannot avoid scams in any art of fundraising. There were and there will be scam projects and it does not matter if it is an IEO, ICO or STO. On the falling market ICO and STO were not popular because there was no guarantee of exchange listing, thats why IEOs are so popular now and nobody cares about any ICOs.
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June 12, 2019, 02:58:22 AM
 #3

We can't blame most of the people that has the same thought about ICOs today. Many projects made the reputation of ICO market bad because of their abuse and evil intention of scamming their investors so that's why everyone's opinion about it is the same.

thats why IEOs are so popular now and nobody cares about any ICOs.
Yes, IEOs are very much popular now and with the recent jump of 800% profit of one project held on Binance this made investors more exciting. But as you can see, there's still numerous of projects that are conducting ICO until now. I guess they are trying their luck.

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June 12, 2019, 03:09:37 AM
 #4

Of course scammers are to be blamed. ETH has also come into the market with ICO and is the 2nd largest cryptocurrency now. There's thousand of way of ebing scammed in this fund raising sector. Once I had written a short article. Link- https://bitcointalk.org/index.php?topic=5118933.msg50096868#msg50096868

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June 12, 2019, 03:27:52 AM
 #5

Am making this thread because of the numerous wrong perception  seeing. So people are actually castigating cryptocurrency and initial coin offering idea for loses the made through it rather than really seeing the cause of the problem.

Initial coin offering is one of the great ideas in cryptocurrency and we know that it was efficient in 2017. Through initial coin offering some great coins of today where launched people keep overlooking the good attributes initial coin offering has offered but are busy bringing it down the more and making all hope of initial coin offering being as it once was hopeless.

It's too bad Scammers stated getting involved  in initial coin offering and projects without logic and idea also got involved but this doesn't mean good and real project are not involved or want to get it but the stigma had made developers develop cold feets

PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it

Scammers have found a way to infiltrate the ICO system because it is so easy to get in and scam people, so instead of endlessly spending time to check if the project is ok and legit people are now turning to IEO which has become the popular crowdfunding platform, it's really the scammers that should be blame so investors has no option but to leave it.
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June 12, 2019, 04:04:21 AM
 #6

You are right, scammers are to be blamed for all the losses investors have incurred over the years as a result of investing in ICO. Nothing is actually wrong with ICO but scammers have given it a bad name.

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June 12, 2019, 04:22:37 AM
 #7

The only way to curb those scammers in the ecosystem is to have regulations.

But it is still debatable up to this point, who will be the central authority here? ICO's are born from every country, so do we think that the country of origin should at least regulated it before they actual come out in the market?

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June 12, 2019, 04:34:54 AM
 #8

We can't blame most of the people that has the same thought about ICOs today. Many projects made the reputation of ICO market bad because of their abuse and evil intention of scamming their investors so that's why everyone's opinion about it is the same.

thats why IEOs are so popular now and nobody cares about any ICOs.
Yes, IEOs are very much popular now and with the recent jump of 800% profit of one project held on Binance this made investors more exciting. But as you can see, there's still numerous of projects that are conducting ICO until now. I guess they are trying their luck.

Scammers will always show up when there's open opportunities for them to earned, it's been tackled before that everything that connects in gaining
profits scammers will be there to try his own chances, we can't blame anyone but us alone, if we do the right research before investing our money in
this sammers be avoided or it will lessen their participations.
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June 12, 2019, 04:40:19 AM
 #9

You cannot avoid scams in any art of fundraising. There were and there will be scam projects and it does not matter if it is an IEO, ICO or STO. On the falling market ICO and STO were not popular because there was no guarantee of exchange listing, thats why IEOs are so popular now and nobody cares about any ICOs.
Yes. The IEO was born to improve the shortcomings of the ICO and it was great. While I'm a bounty hunters and a small investor, I'm really looking forward to projects with partner exchange.
because I am always afraid that the money I give them will not be returned to me. There are too many fraud projects in the form of ICO capital mobilization. The IEO is really a very effective solution at the moment.

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June 12, 2019, 04:51:27 AM
 #10

Let things happen naturally, when the market grows strongly, investors also increase, thinking with projects and scamers also increase accordingly.
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June 12, 2019, 04:51:41 AM
 #11

You cannot avoid scams in any art of fundraising. There were and there will be scam projects and it does not matter if it is an IEO, ICO or STO. On the falling market ICO and STO were not popular because there was no guarantee of exchange listing, thats why IEOs are so popular now and nobody cares about any ICOs.

We can definitely avoid scammers. That is why anpther projects like STO, IEO are being introduced and are being tested now. We may find out soon if scammers will definitely enter this which I certainly think they will. Or if it is hard for them to think another plan how to scam people using this new platforms.

As for OP,  no one will be blamed for but the scammers. They are ruining the reputation of the said projects. How can we fight against them? Let's start by opening awareness within ourselves. Not easily fall for their tricks.

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June 12, 2019, 05:16:00 AM
 #12

You can't remove the fact that the investors will blame the ICO in general because it has been infiltrated by numerous scammers. Yes ICO doesn't do anything because it is very important in crypto world because many coins and tokens have been created because of ICO's. The problem is the scammers who are using ICO's too just to scam investor and that is the problem right now.

I think the best way to prevent being scammed is just to invest on IEO's instead of ICO's. It has a lower risk of being scammed.

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June 12, 2019, 05:19:51 AM
 #13

The idea is also part of the blame for not having an anti-scam feature (or an idea that won't let scammers do their operation through ICO). It is good that ICO has reached its downfall and less unfortunate people will be scammed again. Never forget the damage did by ICOs.

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June 12, 2019, 05:30:47 AM
 #14

Blaming ICO wasn't really good. But, we can't blame the investors for doing it because when ICO really doing its job as their part of keeping their investors money safe there must not be scammer can involved here. We really cannot avoid scams in any art of fundraising. There were and there will always be a scam projects. So if we have some problem with the ICO, and feels like theres no future why not let it go and try to find another good projevt like the dencoin tokens which you can be benefited by joining in. And it really guarantee you a good investment.
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June 12, 2019, 05:33:19 AM
 #15

Am making this thread because of the numerous wrong perception  seeing. So people are actually castigating cryptocurrency and initial coin offering idea for loses the made through it rather than really seeing the cause of the problem.

Initial coin offering is one of the great ideas in cryptocurrency and we know that it was efficient in 2017. Through initial coin offering some great coins of today where launched people keep overlooking the good attributes initial coin offering has offered but are busy bringing it down the more and making all hope of initial coin offering being as it once was hopeless.

It's too bad Scammers stated getting involved  in initial coin offering and projects without logic and idea also got involved but this doesn't mean good and real project are not involved or want to get it but the stigma had made developers develop cold feets

PS . let's try finding ways to tackle the cancer(scammers, poor project) of the initial coin offering rather than contributing to killing it
you are right, the ico idea was not the problem we have but the scammers who has operated in the sphere. More reasons why I think regulation is needed to help scrub out most of this acts. Also , regulation will help fight useless projects that do try to exist.

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June 12, 2019, 05:57:20 AM
 #16

The more we see that ICO are becoming scam day by day almost all of the ICO scam we can really tell that ICO's are not to be trusted anymore but in the end of the day it is the scammer who managed to dirty the name of the ICO, on the other hand IEO is never used to scam people atleast as of the moment until so many IEO  become scam they will say IEO is a scam investment too.

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June 12, 2019, 06:17:17 AM
 #17

It is wise idea to root out scam projects and scammers from the market. But the reality is that scammers cannot be rooted out. Rather it can be controlled. Talking about ICO, IEO and STO, ICO itself is not bad and IEO and STO will bring a massive change in scamming. The project itself should be genuine. Then it does not mind the genuine project raises funds through ICO, IEO or STO.

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June 12, 2019, 06:39:42 AM
 #18

The problem with the ico is that it makes it a lot easier to scam people. Anyone can copy a whitepaper, create a flashy website, and buy profile photos on shutterstock, job done!

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June 12, 2019, 06:59:52 AM
 #19

Depending on the project some project are not real the intention of many project is to scam so more scammer will be attracted to use the platform.

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June 12, 2019, 07:09:31 AM
 #20

i don't see anything remotely great about initial coin offerings and it has nothing to do with scammers. scammers are everywhere, they are even creating shitcoins without ICO but that doesn't make cryptocurrency bad.

ICO is bad by nature because it is fund raising for an open source project that is a copy of the same technology used by others and it is suddenly giving a huge amount of money to developers for doing practically nothing. specially when they are releasing a token not a stand alone cryptocurrency that doesn't rely on another platform (like ethereum platform) to run.

if you also check the success levels of ICOs versus normal cryptocurrencies with no premine or ICO you can see that the later group has a much better success. that is not by coincidence, that is because of the flaws of fund raising.

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