Is anyone else disgusted with the state of ICOs right now?
I mean, there is such an absurd amount of money being invested in companies and coins that might as well be vaporware. Hundreds of millions of dollars invested for vague whitepapers and promises of revolutionary tech Soon™ -- half of these companies don't even have working products.
Tezos is a prime example of this vile scammy shit. A project that was dormant and inactive for 2+ years before being resurrected by a pair of incompetents who don't understand blockchain technology in order to cash in on the ICO craze, conducted in the most greedy, opaque manner I've seen yet. They even delayed their ICO date by a month just because they didn't want to compete with others like Bancor, BAT, etc -- a decision made entirely out of avarice.
200 million without even a working demo, left uncapped for 15 days in order to maximize the revenue and dilution of investors' stake. A vesting structure so malformed that it gives them a massive cashout up front. Half of the time, the devs of these ICOs minimize communication with the public after they raise an inordinate amount of money, Bancor being a textbook example. After all, why should they bother anyways? They already got your money and have no real incentive to work on the project.
The worst part is that even once half of these 9-figure ICOs fail and go bust when they fail to deliver on the next "revolutionary blockchain tech" or whatever, the founders will still make it out with nice 10-50 million dollar golden parachutes, despite the "investors" being left to hold the bag.
This shit is an absolute scam and if you send your valuable eth to one of these "smart contracts" or your bitcoin to them, you deserve to lose it all.
>>2709828
Im so glad we have ClitCoin, HitlerCoin, HolocaustCoin and NiggerCoin! :^)
>>2709828
>valuable eth
I think you mean overvalued eth, am I right
have you checked out travelcoins ico? doesnt seem like one of those empty promise coins and has a huge untapped market. seems like it has plenty of potential
Why do you think I invested all of my 1,500,000 into btc from my ethereum profits? Icos are a scam, I just loan out my btc now daily and live a comfy life style off dividends.
>>2709828
Well, that's just like, your opinion man
>>2709845
redpill me on this
>>2709831
You know there's a happy medium between worthless PoW shitcoin and ICO scam right?
Half of those are waves tokens anyways so maybe you should be putting the blame where it belongs on that one (waves was another scammy ico that only enabled more scams)
>>2709828
Oh yeah, another hilarious sign of Tezos being a complete fucking fraud: their slack is disabled until after the fundraiser! LOL, ostensibly because of "phishing concerns"
>>2709831
Where can I buy some niggers?
>>2709828
Solid post, OP. I really believe that out of every thing out there right now, Tezos stands the best chance of getting the attention of the SEC.
>>2709911
Agreed, they are definitely harmful to the crypto ecosystem even for just the amount of attention they are attracting.
Nobody who's in the Crypto scene for the money or for the interest in the technology wants more regulation, but part of me almost wishes the long dick of the SEC would come down and fuck these people in the ass, even if it it was just a one time thing because these scumbags deserve it.
Unfortunately, I'm not that naive and I know that once the SEC and other international regulatory agencies have assumed that sort of role as a sentinel, there's nothing to stop them from overreaching.
The people running these ICO scams are putting the entire cryptospace in a no-win situation. These """people""" are ruining it for the rest of us.
>>2710018
>wanting more regulation
Gtfo normie
Wh-whats wrong with bancor? Leave my kike coin alone!
I'm fairly certain ICOs will cause the next 2014. They can all be considered accessories at this stage, but the HNIC will be something like BNT or TEZ, possibly TEZ itself, maybe something bigger but it should happen this year.
Ethereum is the base of the entire pyramid scheme.
also nobody really gives a fuck about the blockchain tech, its just a shiny sales pitch to pump shitcoins. they collapse under the weight of coin transactions let alone other applications like cloud sharing.
ICO scams are not going away so might aswell make some easy money off them by investing in cfi
yeah these ICOs are shit but noones forcing you to participate so whatever
the losers who are screaming for more regulation in the crypto space: you should just kys you fucking commies