Re: Finally ,a solution to fraudulent ICOs?

Quote from: Herlina on November 01, 2018, 06:14:07 AM

Quote from: florac9 on October 31, 2018, 08:32:42 PM

As I was surfing the web today I came across this wonderful news=

https://cointelegraph.com/news/erc-20-co-author-proposes-new-ico-model-to-protect-investors-from-fraudulent-token-sales

very soon we will start seeing reversible ICOs projects which will reduced scammy and fraudulent project ,finally dreams are coming true,the capability of been able to reverse your invested money in any ICO is wow!

I think this ICO model is quite risky for startups because many speculators easily panic in this market, maybe FUD will be a weapon to destroy ICO projects because most people in this market are easily panicked by FUD and startups will go bankrupt if they return most of the project funds to investors, they can sell back the returned token but I'm not sure market demand will be enough to cover that

With the way things are going, I am not very sure if that model will work as there are so many things that will have to consider. However, it is not a very bad attempt all if all things actually work in a way that the teams are still able to have the ETH in their wallet somehow.

Because the way they are saying it now is that, You are able to take your funds back at any point in time and do it simply by sending your tokens back. Although, since they said it is going to be a special purpose smart contract, I hope it would not even end up being a problem in the long run when people start panicking for no reason which could even lead to the end of a potential project. Just thinking out loud though!