Quote from: katlogic on February 25, 2015, 01:15:30 AM

For those who didn't figure it out yet, there's no such thing as "fair distribution" via ICO, it's smoke and mirrors. The end result is exactly like Ripple - ie you're investing in something with unknown dilution.

All ICOs without burn are inherently scammy, because issuer can self-buy up to unlimited amount. To illustrate:

1. New PoS coin is announced.
2. Coins are distributed according to BTC deposited to ICO address up to certain date (or asset purchases, or whatever)
3. Others buy 100BTC worth of shares
4. Issuer buys 900BTC worth of shares and gets his 900BTC back immediately. Can even repeat the cycle many times during ICO, if the deposit address is not guaranteed to be frozen.
5. Issuer now owns 90% of issue at zero cost

This is why only proof of burn distribution can be trusted (ie XCP did things right, NXT or master? not exactly.)

fishing for suckers to part with there money