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All the people crying "Scam!", I have a question for you: How is this fundamentally different than pre-orders? It seems to me like these ICOs are selling futur

• stanleydrew 9y ago
  This is a reasonable question. I'm not an expert by any means, but the difference appears to be that with a pre-order, you have some right to own something in the future, and an expectation of delivery. If delivery is not received, you might expect a refund. When you buy a new coin you get the right to use that coin in some future micro-economy. What rights and expectations go along with that purchase? What if the micro-economy doesn't value the coin the way you originally thought? What if it never materializes? Both pre-orders and ICOs can be scams. The difference with ICOs appears to be an added layer of misdirection that could perhaps enable more successful scams.
• TylerE 9y ago
  The vast majority have no existing implementation of what they claim to do, if they even STATE what they aim to do. It's like pre-ordering a game where they don't tell you the genre, won't tell you what platforms it runs on, and don't have any concept art drawn. Oh, and the fine print says they make no promises to actually make a game, and if they do, they don't have to give you a copy.