Jump to content
Stake Forum
nattekut

why do people still invest in ICO's?

Featured Comment

I really do not understand why people still getting tempted to join ICO token sales. during the past 24 months so many projects that raised huge amounts of funds did entirely failed, didn't deliver what promised and even just exit scammed. And still people are getting into this new way of scams.

I read new projects popping up every single day. When I visit their website it very often are projects copied from previous projects, same idea, ..... 

And I also noticed that there are some teams that want to raise millions of $ for something that can be developed with a couple 10,000 $. So then I am thinking why do they need so much money? I once knew a poker related ICO. they managed to raise over 30 million in their ICO and when they launched their poker platform it just was a copy of tonybet. surprise, surprise TonyG who ran tonybet in the past was part of the advisory board. Now after more than 1 year yeah some things changed and they introduced a fully decentralised RNG and shuffling system...... but guys why in earth 30 million $. I wouldn't be surprised that 29 million disappeared in the pockets of the owners and only 1 million has been used for the project.

And then we have good projects with a really nice idea. but they waste so much tokens on giveaways, bounty and airdrops that it attract so much people that just want the token to dump them as soon as they come on the exchange and make the price crash insanely.

I would be thrilled to see the first project that launches his project first and then rewards people with their token for using their platform. For example a poker project that wants to launch its own token. they should launch their poker platform first and lets say reward people with their token as part of the rake back system.

How many people would like to receive the token after  a team launched the project?

Share this post


Link to post
Share on other sites

I also do not understand why people are still investing in these fraudulent schemes. Probably 99% of all ICO is scam. But I think that as long as people believe in these ICOs and their promises and continue to invest, the number of fraudulent ICOs will appear more and more.

Share this post


Link to post
Share on other sites

Ico`s became an important way for people to join to the crypto-ecosystem for the very first time.  The concept really help to bitcoin to grow but yes, sadly, many Ico`s became shitcoins and at the end became scam sites.  However, many (if not the majority) of the altcoins we see in a constant development and success came from an Ico, so not all the following Ico's are scam, some of the will have success.  Who is the people founding those Ico`s you are mentioning here?  Any clue?  Venture capital is backing many of them, venture capital and people who follow the money is there.  I`m sure that, those Ico`s are being under strictly monitoring from authorities and that will give the investors a kind of security once they decide to put some money there.  What is the name of any of this new Ico`s you are talking about?  Would be nice to make DYOR and see if it is worth the investment.  Good luck.

Share this post


Link to post
Share on other sites

 

There will always be people to invest in scams.

Just a man's greed is born at birth, and every good deceiver hopes to get as far as possible with greedy people.

Or, as people have said, "the fools will end when the fish is over in the sea"

Share this post


Link to post
Share on other sites

I think it's just trying to integrate into the upcoming technologies at any cost.

In the 90s when internet was new and revolution, many bought cheap as fuck domains that still has no value in today's times.

They just thought it will be a good choice and didn't want to miss out.

Obviously, many got into scams just like many got into today's scams of icos and other stuffs.

I haven't participated in more than two icos and fortunately they both gave me a return of 2x and 3x respectively but after a long wait!

I do think some will revolutionize the future and some are just blatant scams.

Doing own research for each specific ico is the key :)

Share this post


Link to post
Share on other sites

hello friends now a days who are believe in crypto and within a short period will be a millionaire those who are invest in ICO's,last few months all ico's are now closed and scammed declare by all trading sites. but still people are believe may be  another bitcoin will be their.

Share this post


Link to post
Share on other sites

Lol yeah you re speaking truly. I already wondered that too. 

Honestly I think most of them just want their part of the cake. Juicy cake it is obviously. 

I really can't understand how the hell those company get to raised millions so easily. I already thought  for myself if I had the skills to do such a thing I would have been rich ( but my soul would be good for burning in hell or my karma would be fucked up for good  ) 

All the people scammed are I think the same that jump on every Hyip that shows up, and that can be identified as a scam by a basic Google search. But people just keep listening to their greed. Thinking hey that is the future btc and my 10k tokens will worth 10k$ each in ten years like btc.. Lol

The sad point as you said is that good ideas and good project are melted among all those scam things and at best fails quickly.... 

It's like many things nowadays, everything get corrupted by instant profit seeking. No one want to think 10 years forward not to talk about 50 years or even 100 years. We burn everything we have to enjoy today without thinking to what come next.. 

 

Share this post


Link to post
Share on other sites
On 7/7/2019 at 2:18 PM, nattekut said:

I really do not understand why people still getting tempted to join ICO token sales. during the past 24 months so many projects that raised huge amounts of funds did entirely failed, didn't deliver what promised and even just exit scammed. And still people are getting into this new way of scams.

I read new projects popping up every single day. When I visit their website it very often are projects copied from previous projects, same idea, ..... 

And I also noticed that there are some teams that want to raise millions of $ for something that can be developed with a couple 10,000 $. So then I am thinking why do they need so much money? I once knew a poker related ICO. they managed to raise over 30 million in their ICO and when they launched their poker platform it just was a copy of tonybet. surprise, surprise TonyG who ran tonybet in the past was part of the advisory board. Now after more than 1 year yeah some things changed and they introduced a fully decentralised RNG and shuffling system...... but guys why in earth 30 million $. I wouldn't be surprised that 29 million disappeared in the pockets of the owners and only 1 million has been used for the project.

And then we have good projects with a really nice idea. but they waste so much tokens on giveaways, bounty and airdrops that it attract so much people that just want the token to dump them as soon as they come on the exchange and make the price crash insanely.

I would be thrilled to see the first project that launches his project first and then rewards people with their token for using their platform. For example a poker project that wants to launch its own token. they should launch their poker platform first and lets say reward people with their token as part of the rake back system.

How many people would like to receive the token after  a team launched the project?

It's like the big HYIP thing in the early to mid 2000's. It's destined to crash soon but taking the risk that it might turn out to be something is where the thrill is at. Because Bitcoin will always be considered a success (no matter what value it holds 50 years from now) people will always hope they hit the next bitcoin investment. Had bitcoin failed, you wouldn't see any of this that you see today. Where there's success, there are failures to replicate or reproduce. It's one of the oldest trends the world has seen. This just happens to be within the crypto realm.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×