Study: 81% of ICOs are SCAMS
According to research conducted by the ICO advisory firm Satis Group, around 81% of ICOs are scams, with many more likely to end in failure.
I thought it would be worth making a video talking about this and offering some of my thoughts.
Link to article: https://medium.com/satis-group/ico-quality-development-trading-e4fef28df04f
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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I used to say 90+% of ico are scam. I see myself being not that much off the reality.
what? you said ... only 81% ... ?
I would never invest in an ico. Wait till it's fully established in the market before i even think about chucking money at it.
Exactly. Wait till they actually have a working product!
Very true! Traditional startup investing is a very hard and risky space. VC's have teams of analysts and experts, and they still only have a 10-15% success rate. 9/10 of all startups fail and ICO's are the same way. So much safer to bet on "safe cryptos" with long term value.
Honestly not only 80%, 99% of them will be failures regardless of whether or not they are scams, cash grabs or legitimate projects. Verified projects mean nothing. Almost always, the ICO's first priority is to make the team rich, their second priority is to find a "utility" as a pre-text for their first priority... The amount of time you will require to do research in these project will be a huge drain on your valuable time.
Very well said. I agree 100% @milano1113
Couldn't agree more!
Don't even bother. Stick to proven coins. Verified or not you'll waste your time and money.
not really sure, but some projects are working, most were ICOed that's why ETH is second, there are a few working and a few successful and lots that didn't make an impact and some are scams, but I'm not sure the numbers are correct.
Well yeah I've been looking only at interesting projects and there are 187 that passed 50% of which are successful, I don't know why people invest in scams, the whole financial trading is a scam I would say, it's the same like in the exchanges here, even worse since the fish there are dead bones on the exchange and usually they use their money and are then thrown out of the "casino" just because some broker got them into it once.
So yeah according to those numbers they checked out 1100 projects and found 187 to be ok, I say that's amazing, I don't know what those other 900 projects were but I've seen my share of funny bullshit, like whatever people throw together and get pictures and it's a big new whatever and they hype it and so on.... that's bullshit, I'm wondering why people are susceptible to marketing pitches. Oh yeha they grab you by the balls and milk you :|
But again that's no different than other such "sectors"
We will see in around 2-5 years if you are right on the 99% maybe, maybe not, I would say out of those 200 projects yeah maybe 10 might succeed and 50 might be working, 50 might be forked, who knows ... I was hoping for a more detailed report, that article is bullshit by the looks of it, I wanna see the list and do my own diligence, what factors did they take into account, what tools did they use ...
as it stands any random twitter group could be deemed a ICO scam because they made a website and patched together a team and got some 50k or 500k (again I don't understand people, at least when I make mistakes I have sense of what I am doing, it's calculated risk and it's ok in my book, I wouldn't invest anything I can't loose and I wouldn't invest it in anyone that hasn't proven they are trustworthy and still I would rather work with them than just stay and pray for money out of the sky, I mean Etheriums happen once every few years, pump and dumps happen daily)
That might be interesting :D There might be some meat rather than just claims.
Thanks for your valuable content really appreciate you concentrate.
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Most ICOs are indeed scams runned by predators looking for easy money from countries where they know the law won't prosecute them.
Thats why you mostly need to do a lot of research before investing on an ICO and you need to have knowledgeable and accountable people behind their projects to have at least some security before throwing money into them.
Very interesting data, personally i believed that youtube and google were banning advertising on ICOS to declare war on cryptocurrencies but in reality they want to protect their users.
There are some truly 'scam' ICOs and honestly, if your head is not filled with air you will be able to identify them within a few minutes of research.
ICO is not that reliable, I participated in most of there airdrop. Though am still undergo some finding about ICO.