Saw this study on twitter...
https://twitter.com/Zeex_me/status/978981735101878272I've seen a lot of people asking about how many legit ICOs there are, so I thought I'd share
Quote from the article: "The study begins by breaking down ICOs into 6 groups: Scam, Failed, Gone Dead, Dwindling, Promising, Successful. On the basis of the above classification, they wrote, we found that approximately 81% of ICOs were Scams, ~6% Failed, ~5% had Gone Dead, and ~8% went on to trade on a exchange.
"Scams were defined by researchers as Any project that expressed availability of [an] ICO investment (through a website publishing, ANN thread, or social media posting with a contribution address), did not have/had no intention of fulfilling project development duties with the funds, and/or was deemed by the community (message boards, website or other online information) to be a scam.
DYOR people ...
That's why it's best not to bother with ICOs, there are just too many scammers in this world, and an ICO is an attractive way of duping people. I just didn't realize it was this much. The worst thing is that such assholes have probably made millions off the hard work of others, mean while regular folks are suffering during this time.