Now, we know that Rimbit is #scam, let's talk about it and try to find a true alternative.
80% of ICOs Are Scams: Report (please investigate before investing) - Printable Version

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80% of ICOs Are Scams: Report (please investigate before investing) - Carsten - 2018-04-07

It's scary reading. It's those kind of news that make people scared of crypto. What can we do about it?

https://www.investopedia.com/news/80-icos-are-scams-report/


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Hugues - 2018-04-07

(2018-04-07, 10:23 AM)Carsten Wrote: It's scary reading. It's those kind of news that make people scared of crypto. What can we do about it?

https://www.investopedia.com/news/80-icos-are-scams-report/

What we can do about it?
Well, investigate, investigate, investigate, ...
Do not invest in to many ICO's.

DUE DILIGENCE is important but not a guarantee.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Carsten - 2018-04-07

(2018-04-07, 10:29 AM)Hugues Wrote:
(2018-04-07, 10:23 AM)Carsten Wrote: It's scary reading. It's those kind of news that make people scared of crypto. What can we do about it?

https://www.investopedia.com/news/80-icos-are-scams-report/

What we can do about it?
Well, investigate, investigate, investigate, ...
Do not invest in to many ICO's.

DUE DILIGENCE is important but not a guarantee.

Yes yes that's right Hugues. How do we spread that information so people don't jump on the red flag ICO's? 

Even we do a due diligence it's not a guarantee as you say. It's okay with failing ICO's if the team has tried their best. It's still an honest ICO. It's not different from investing in "normal" startups. Only a few survive 5 years later.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Jacob - 2018-04-08

The report makes a couple of statistical mistakes. It takes a sample range that excludes the vast majority of ICOs, and it gives a label of "scam" to projects that may have had their market cap pushed to below 50 million by the bear run that are in fact genuine ICOs.

I think forums like this one provide a valuable resource to those lucky enough to find it. We are more likely to spot a scam than the average ICO investor because we have seen the inner workings of one first hand.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Hugues - 2018-04-08

(2018-04-08, 04:37 PM)Jacob Wrote: The report makes a couple of statistical mistakes. It takes a sample range that excludes the vast majority of ICOs, and it gives a label of "scam" to projects that may have had their market cap pushed to below 50 million by the bear run that are in fact genuine ICOs.

I think forums like this one provide a valuable resource to those lucky enough to find it. We are more likely to spot a scam than the average ICO investor because we have seen the inner workings of one first hand.

Indead not all scam reports are correct. It just can help us to be more alert.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Carsten - 2018-04-09

True. I wouldn't have invested in Amon if it wasn't for this forum.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - BobBobert - 2018-04-09

I wonder what the average person thinks of crypto icos these days. Certainly when RBT was around I found it hard to make believers of average (not had an interest in crypto before) people. So I think ICOs are more likely to be bought into by those who have some experience and who hopefully are more attentive than I was when I bought RBT! I guess the big players know that some are scams but they can gamble more.

I read an biography once of someone who invested in start-ups etc and he talked of throwing 100k at each of say 10 companies. Some would give massive returns, far outweighing those that were either slow, poor or went bust.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Carsten - 2018-04-09

The average person don't know what an ICO is. I would assume that the majority have heard about Bitcoin but is unable to mention other coins. I also assume that it's only the minority who knows the overall principles of the blockchain.

Yes, the investment strategy you mention is well known. I think we can compare to ICO's.


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Cell - 2018-04-09

ICOs will kill the crypto world if nothing is going to regulate them soon...


RE: 80% of ICOs Are Scams: Report (please investigate before investing) - Carsten - 2018-04-10

There is much talk about regulation. Will it kill crypto? I don't know.