Recently saw some posts about detecting "scam" ICOs-- but what about detecting just "bad ideas" for ICOs?
What's your smell test?
(1). Check the management team, check for people who have a history of previous successful ICOs.
(2). Read the white paper and consider-- why can't this just be done with a database? What's the true use value of the token? Why does it benefit from being decentralized? Is it truly decentralized?
(3). What is your smell test for ICOs?
I give you an example about some projects that have owned the idea that doesn't make sense in my opinion at least senseless. THe number one is about the healthcare by used the blockchain system, for me sounds bad to see the some people just aim to get a lot of money without consider about the chance to implement the blockchain for medical. and you must even understand the economic still didn't adopt the blockchain .