The Harsh Reality About The Current ICO Project

[Ccscopst]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...
what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

maybe it's one of the things they have to reconsider, if their project wants to be successful and the project product can be sold out in the market ...
I hope I'm not mistaken about this.

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[Vitamin_52]

You didn't get tokens or what?! How were you deceived? In the end, you say that tokens grow very well. If tokens tend to grow, then the project works and develops. If you are not satisfied with something contact the team, I think you can solve the problem

[kayvie]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...
what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

maybe it's one of the things they have to reconsider, if their project wants to be successful and the project product can be sold out in the market ...
I hope I'm not mistaken about this.

This is a common scenario in bounty campaign, they always promise their community a better project that no one ever was. Giving their investors and bounty participants an impossible promise.
Most of bounty projects are just the same, they are all after the investors money, choosing a project should take more time to avoid scam projects.

[CryptoBry]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...

I am sure you are not alone with this horrifying feeling of being cheated, fooled and taken advantage of. In the past many years, there had been people who are disillusioned with the way things are with projects that were supposed to be promising, amazing and so beautiful really worthy of the support they successful y gathered...only later did the supporters learn that things are not happening are they are supposed to be. In other words, the dev team, the project management and all the rest of them behind the facade are just making a big show...a show that can be costing millions of dollars out of the wallets of hard-earned money of those who believe and lend the hand.

At the end, we might learn that the project just died a natural death due to inactivity, incompetence of the developing team or worse the project is actually a big scam right from the very beginning. I can feel your wretched stomach right now and I always extend my sympathy to people like you because I was also a part of the victims of the sweet promises of glory and triumph but instead we were left with empty promise and bags with nothing but full of air.

There is a big question nagging my mind: What should we do to teach these people a big lesson they should never forget till kingdom come?

[shinratensei_]

What you should remember about the type of the scammer that used ico to scamming investors be like
- Offering nonsense thing like the price of the token will be high after listing but the fact the price will have determined by the market
- Nonsense idea and a lot of promises
- The type of scam project never tries to do a lot of effort to provide MVP as a representation from the real product but it's still in the beta form.

I feel cheated so many times but i have experienced to determine which is a crap project.
Again, even if it's a trusted company that doesn't mean if that can't cheat the investors and some companies are still operating right now as iconomi has already changed the roadmap so many times.

[Seghokendil]

and that is the fact that no gift project is truly perfect even though they have a promising concept but it is not a guarantee for the success of the project. it's only about common sense and also how detailed you are in researching a project that you will be participating in.

[VDraci]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...
what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

maybe it's one of the things they have to reconsider, if their project wants to be successful and the project product can be sold out in the market ...
I hope I'm not mistaken about this.

There is no way you will learn if you are not cheated on in the firstplace, i have been cheated severally just as many on here as well, i later start making sure i pick projects based on what will make them favourable to the public, will there be high demand for the token? i ask myself this question a lot, many new projects of today are just remakes of what we have on the market already

[DDante]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...
what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

maybe it's one of the things they have to reconsider, if their project wants to be successful and the project product can be sold out in the market ...
I hope I'm not mistaken about this.

If you are talking about bounties well the ball is in your court, many of those new projects are useless projects anyway and its left for you to start learning from your mistakes, try relying on what you can dig on 'research ' to avoid scam or useless projects, its a simply as that

[Strongkored]

Sometimes the ICO project starts from the person who only has an idea and the person hires the developer to start the project, but they forget to see the portofolio of the developer whether good and able to implement the initial idea of the project.
This is where problems will arise that eventually the developer absolutely cannot develop their projects, it is difficult for the to hires other developers because the funds are already used, and we cannot close our eyes that ICO projects also use the funds collected for other things that they did not mention to investors.
So learn from the past and don't just believe in the concepts and promises of the developer but have to trust more in your own research about the project you want to invest.

[Aabcde]

Most developers today are less able to keep their promises during the ICO or when the ICO is finished. The roadmap is too late not on target. I agree if the developer must complete the product before starting the tokensale period. So after the tokensale is finished, the developer only has to do a monthly update and focus on the next goal.

[Pearls Before Swine]

If tokens tend to grow, then the project works and develops.

Yeah but that never tends to happen, does it?

Op, you are correct that the reality of ICOs is harsh as hell.  I don't think this thread has anything to do with not getting some tokens from a bounty, but the honesty of project devs and the overall quality of the projects.  I have yet to see one of these things make an impact...on anything.  The only thing I see are white papers and ANN threads that make a lot of bold claims and promises, and then everything falls flat once the devs get their investor money.  Rinse and repeat.

Most developers today are less able to keep their promises during the ICO or when the ICO is finished.

'Less able' doesn't even begin to describe the situation.  These fools shouldn't be making those promises in the first place, because they know they're untenable.  It boggles my mind why people keep falling for these tricks.

[Davian144]

Not only you who feel cheated by the project, there are also many other people who feel cheated, because almost all projects say sweet promises to everyone, so that the project can be liked by many people, and obviously the sweet promises ever expressed by the project team are nonsense, this has indeed been proven in several ICO projects.

[pidie]

In my opinion, the ICO project has now started to fall behind along with the presence of the IEO project. many people now glance at the IEO project rather than the ICO. because the IEO project is more profitable in investing and can buy coins directly from exchanges that have been set by the developer when IEO starts.

[DaMut]

it's only about common sense and also how detailed you are in researching a project that you will be participating in.

The research issue about icos has been said severally and it is not like some bounty hunters or investors don't carry out these researches. To this extent, even bounty managers have been deceived to carry on with insincere projects but found out in between or didn't at all till the end. So, a scam project will always hide the signs from investors.

This is what I felt right now, the research does not give you a guarantee but knowledge about the project you are dealing with. Even after doing a thousand of researches, there is a chance for the project to fail or even scam you because everything can happen if they have a desire to do that. In our current market, an existing project with a product still could fail you because we are lacking the demand. There are only 2 things that will happen to every new project which are a scam and fail, it is quite impossible to sucess at this rate.

[manok jepang]

something like this is nothing new. even in large markets there are often. there is a deliberate installing bots to make orders continuously so that the price of the token can change. and in my opinion such bots have benefits and disadvantages. sometimes the bot can make prices rise slowly or arguably the trigger for the occurrence of the moment Pump. but conversely if these bots do sell continuously there must be a dump.

[Doranile432]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...
what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

maybe it's one of the things they have to reconsider, if their project wants to be successful and the project product can be sold out in the market ...
I hope I'm not mistaken about this.

You sound like a bounty hunter, promoting bounty projects won't cost you anything than time and energy, its free work and safer since you aren't investing a dime, i normally just randomly promote bounties this days and i don't expect payments from them, yes i have enough time for that because its painful when you keep hoping for payments when its never coming

[adzino]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...
in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money ...
what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

maybe it's one of the things they have to reconsider, if their project wants to be successful and the project product can be sold out in the market ...
I hope I'm not mistaken about this.

Say something new. We all know about the stuffs you are talking about. What took you so long to understand this? All those sweet talks by the developers are nothing but just a eye candy for naive investors (i don't know how did you get the black money thing) to invest their money. Unfortunately many people fall for these sweet talks and gets trapped once they invest what they have.
Right now, there are like only less than few promising projects. Rest are just total bullshit.

[coin-investor]

I feel cheated ... but the fact that every project that promises or claims tokens will eventually increase at a very high price is just nonsense ...

Unfortunately, you found this out later it has been the case after the glory days of 2017

in a statement on the road map they promised to use project funds for further product development, but they were only trying to take advantage of the investors' black money

People are already aware of this after thousands of reported scamming reported in the scam section, not to mention those that are not reported

what they have to do is develop their product further, not just start doing it or say all the sweet promises ...

On some project, there's really no platform to speak of if it has one it has no usage to the community

I hope I'm not mistaken about this.

Unfortunately for us, you are right

[Sithara007]

As always, there are two sides to this argument.

Please don't misunderstand me. I am someone who always advice others to stay away from the ICOs. I have never ever invested in any of the ICOs and till now I haven't taken part in any of the bounty campaigns to promote them. That said, I have studied in detail about the IEO/ICO market and the bounty campaigns which are taken out to advertise them.

First let me talk about the success rate. As of now, the average success rate of an ICO is around 5%. And that is not much lower than the success rate of an average Wall Street startup. Even in my country (India) we have hundreds of startups every month, and only a few (5% to 10%) becomes successful. But people don't shy away from investing in them. Because the more the risk you take, the greater are the chances of getting good returns.

[Rikotin]

not only you, but the majority of forum users also have something in common about your complaint above, including me one of the victims of project fraud. I would only say that 80% of the current ICO project is bullshit.