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Re: How to combat the surge in scam ICOs
by
BenOnceAgain
on 26/08/2017, 15:11:53 UTC
Thoughts?

Personally I think simply introducing a fee to start an ICO thread would result in an immediate drop in the numbers we're currently seeing. If you've got a legit operation you sure as hell can afford a bitcoin or two in order to collect millions in ICO funding.

I think a reasonable fee is potentially a good idea but if the fee were too significant that could stifle promising concepts from reaching the investment community.  Or, alternatively, it could cause ICOs to shift their announcements elsewhere.

One thing that I think is sorely needed among these ICOs is a standardized list of terms.  Some of the ICO whitepapers I've read have such horrible presentation and lack of concrete information that I can't imagine anyone investing anything in them, regardless of the potential of the concept.  As someone coming from an environment where I have reviewed many (far too many) IPOs, the quality bar of ICOs needs to be raised.