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ICO is a fancy word for "Kick Starter" or crowdfunding. That's why all the crypto people are disagreeing with you. Are most ICO's scams? Yeah sadly. Are there
by penagwin 7y ago
ICO is a fancy word for "Kick Starter" or crowdfunding. That's why all the crypto people are disagreeing with you.
Are most ICO's scams? Yeah sadly.
Are there lots of scams on Kickstarter/indiegogo/etc? Yes sadly.
But an ICO itself isn't necessarily a scam (although I concede 99% of them are)
- dangero 7y agoKickstarter creates no expectation of profit by purchasers.
- kaicianflone 7y agoThe question is no longer if you have been scammed on Kickstarter, it's how many times have you been scammed.
- penagwin 7y agoAn ICO doesn't imply potential profit either. The problem is that most of them are run by scammers, which do promise profit.
- vorpalhex 7y agoWhen I back a kickstarter, I'm probably going to get something like a signed book or a credit in a game - maybe not but at least most of the time. In an ICO, I get a... theoretical security? A kik kin coin that may or may not have value?
- penagwin 7y agoI think you're confusing ICOs with market value. You don't back an ICO because its "value will go to the moon", you back an ICO because invents a new way for -- Creators to get paid instead of using advertisements, creative ways to organize some kind of distributed system. The scam comes from them not completing their promises and leaving with the money and no "product". The coin's value is irrelevant (as long as it isn't 0)