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“somewhere between 5 and 25% of ICOs are frauds.” IPOs have a 0% fraud rate historically. Maybe ICO needs to be renamed so as not to be confused with IPO.
by debt 9y ago
“somewhere between 5 and 25% of ICOs are frauds.”
IPOs have a 0% fraud rate historically. Maybe ICO needs to be renamed so as not to be confused with IPO.
- bhouston 9y agoIn the tech bubble I'm pretty sure there were at least a couple frauds.
- rajacombinator 9y agoIs this meant to be sarcasm? There are tons of fraudulent publicly listed companies.
- perl4ever 9y agoI'm not sure if it's meant to be sarcasm. One thing that comes to mind is a lot of shady public companies don't have an IPO, but instead do a reverse merger with a public shell or operating company. I don't know if companies with IPOs are always non-fraudulent, but I think the process goes along with a certain amount of scrutiny and conversely there are ways to avoid it.
- zaarn 9y agoI think there is a difference between "IPO is fraud/scam" and "the company behind the IPO is fraud/scam". Most ICO's I've looked at haven't produced anything but fancy blog posts (and in some cases, the DNS registration has expired). I think I've invested into 2 or 3 (didn't invest much, 10 or 50$ at most so it didn't hurt much and I stopped by now).
- debt 9y agoI've never read of or heard of one. Which ones were fraudulent?
- conanbatt 9y agoDepends on your definition of fraud: IPO's were once considered a scam on the ignorance of the general public, until the financial market lost its scrupules.
- TaylorGood 9y agoAn IPO is an IPO, but let's not forget about the reverse mergers...