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That is a gross understatement. Vast majority of ICOs are deliberate scams, not just they aren't building a business, they have no idea how to do it, have no re
by anovikov 9y ago
That is a gross understatement. Vast majority of ICOs are deliberate scams, not just they aren't building a business, they have no idea how to do it, have no relevant skills, and whole 'idea' is lunatic and would be laughed off by even a beginner angel investor if pitched to him. In many cases, an idea is also technically unworkable due to scaling limits of blockchains used. It is just that: a scam. Not a bubble as in: 1990s tech bubble, or subprime mortgage bubble. There, you got something which didn't follow the profit curve you predicted. Here, you get nothing for your money.
- quickthrower2 9y agoA lot of the ICOs have similar looking web pages: modern bootstrap style, touting benefits which are generic benefits of any cryptocurrency, and a list of team members with PhDs and suchlike. You could write a playbook for this crap.
- anovikov 9y agoI have been invited to act as a fake cofounder for an ICO several times...
- magnetic 9y agoHow do they manage to con so many buyers?