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Half of ICOs Die Within Four Months After Token Sales Finalized

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Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#21

Post by koolba »

jerf wrote: post #17
jacquesm wrote: post #13

That's long. I would have expected the end to come within hours of the funds being released to the perps. Err. Entrepreneurs.

I imagine the facade must be maintained long enough for the checks to irrevocably clear, which can actually take a while. The big bad evil fiat government money system has the advantage and disadvantage of being able to claw back transactions for quite a while, since it's basically the fundamental primitive of the system that ensures integrity of the system. (That is, at the foundation, the money system tends not to…

Don’t most ICOs use an existing coin (likely bitcoin or Ether) as the unit of purchase?

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#22

Post by jacquesm »

shawn wrote: post #15
MBCook wrote: post #10

Earlier quoted context omitted.

Why would anyone running an ICO agree to that? Clearly the current system ‘works’. They get money, no accountability, and everyone just moves on. No wonder crypto-currencies enjoy such a positive image among the ‘haters’ and ‘doubters’. Because they keep earning it.

Once ICO scams stop working, the world will move towards traditional models. Crypto is out there, and it's not going anywhere. Eventually someone will realize that the smarter move is to create sustainable value over time.

> Eventually someone will realize that the smarter move is to create sustainable value over time.

Most ICO's - if not all of them - are powered by the greater fool theory, sustainable value isn't really on the table.

I see value in the blockchain and some in BTC (but not as much as others apparently do), but the whole ICO concept seems to be just a way to transfer wealth from greedy suckers to even greedier suckers.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#23

Post by hudon »

You can see the state (volume, # daily users) of some of these promised "dapps" here: https://dappradar.com . It is indeed a barren wasteland. And when a new popular ICO comes along, the Ethereum network struggles and fees skyrocket.

It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning: you could at least send messages and files across the network, which was incredibly useful to academia and the military and was orders of magnitude more efficient than any alternative.

Now, all we see is rampant fraud and a complete disregard for the environment [0] with no gain in efficiency. It's high time we hold "crypto-anarchists" accountable for these issues.

[0] The Ethereum network consumes more electricity than Iceland https://digiconomist.net/ethereum-energy-consumption

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#24

Post by asdsa5325 »

mrnobody_67 wrote: post #7

I'm so surprised that smart contracts aren't being used to release the funds over some set of time, with the ability for community to vote to block it if they feel team has stalled. Nobody needs $20 or $50m on day 1.

I'm not surprised. ICO investors are crazy and ignorant. If they thought straight, they wouldn't invest at all.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#25

Post by dguaraglia »

vkou wrote: post #2

"Still, all investors should probably sell their coins within the first six months, the study found." If all investors should sell their coins, who is the counterparty that should buy them?

I see you've spotted the flaw with this argument :)

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#26

Post by jacquesm »

JumpCrisscross wrote: post #19
jerf wrote: post #17

Earlier quoted context omitted.

I imagine the facade must be maintained long enough for the checks to irrevocably clear, which can actually take a while. The big bad evil fiat government money system has the advantage and disadvantage of being able to claw back transactions for quite a while, since it's basically the fundamental primitive of the system that ensures integrity of the system. (That is, at the foundation, the money system tends not to…

> fiat government money system has the advantage and disadvantage of being able to claw back transactions for quite a while Recently helped a friend extract his company from a wire fraud scam. Wires, particularly international wires, are surprisingly irrevocable. You basically have to get the receiving bank to agree to send the money back.

That's worthy of a blog post in its own right.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#27

Post by ZirconCode »

hudon wrote: post #23

You can see the state (volume, # daily users) of some of these promised "dapps" here: https://dappradar.com . It is indeed a barren wasteland. And when a new popular ICO comes along, the Ethereum network struggles and fees skyrocket. It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning: you could at least send messages and files across the netw…

What if we make a currency where each ICO is one coin?

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#28

Post by s73v3r_ »

chollida1 wrote: post #12

So I've been doing alot of thinking lately about traditional VC and PE vs ICO's for work. Its pretty rare for VC and PE firms to just be blatantly ripped off like a good portion of ICO investors are. As far as I can this is due to 3 things. 1) Geography, Most VC/PE firms only invest in a particular country and know the laws as they relate to the contracts they sign with companies. This ensures that they can atleast t…

Right, but at that point, what's the difference between an ICO and a security? If I was an investor, why would I want to go into an ICO vs traditional means?

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#30

Post by jerguismi »

hudon wrote: post #23

You can see the state (volume, # daily users) of some of these promised "dapps" here: https://dappradar.com . It is indeed a barren wasteland. And when a new popular ICO comes along, the Ethereum network struggles and fees skyrocket. It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning: you could at least send messages and files across the netw…

> It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning: you could at least send messages and files across the network, which was incredibly useful to academia and the military and was orders of magnitude more efficient than any alternative.

How is running an ICO not useful to people? Get lot of money with only doing a lousy whitepaper, drive ferrari and live luxury life rest of your life. No joking, many people can't imagine anything better.

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