Interesting read from forum author, thanks for some good insights.

I feel that maybe there needs to be some kind of scam to actually exist and, terribly some people need to lose money actually. You can't just throw money at projects and expect them to work either. I bet that most people don't even read whitepaper and not really even know or understand at least how cryptocurrency works in the first place. Whilst I agree with your comment, I believe education is a big factor and if you don't know how bitcoin or another project works and you see a cool new ICO that promise lots of stuffs then immediately think its cool and a great investment.

My point is, there will always be fake ICOs. There is money in it and naturally criminals too. Education, ie reading white papers is essential and this is just simply not done enough by investor. If you don't DYOR you may as well spend money on roulette. This is just my opioin and I know that ICO scams are more sophisticated now but I feel that basic principal (like understand the mecanism and market first) would really help.