Ninjastic
PostEdited versionsQuotes to this post
Post
Topic
Board Altcoin Discussion
Re: Do NOT buy ipo, ico, ito if the devs don't have a working beta/demo ready
by
twarlock
on 15/11/2014, 20:00:03 UTC
Quote from: djm34 on November 15, 2014, 05:54:10 PM
Quote from: twarlock on November 15, 2014, 05:48:14 PM
Quote from: zing96 on November 15, 2014, 04:19:07 PM
ICO/IPO/ITO are all high risk/high reward.  If you do your research they can be big money makers.  Yes, a demo would help, but it can be faked just as easily as a lot of other things.  As always, DYOR.

I agree demo isn't proof of anything, same as working wallet - if it has no awesome innovative feature, wallet is a copy paste job, you don't even need to know c++ to do it.

Lets say someone invested a few BTC in to an ICO/IPO/ITO or whatever ... how is that different from buying a few BTC worth of any altcoin on the market?
95% of coins has absolutely no use except for trading.
the difference is that the price is set by (greedy) dev instead of being decided by the market... so in most case you just buy overpriced altcoin without dev support (since in most of the case the support stop within a week of the IPO). Before we were worrying about the premine but with IPO/ICO it is exactly if the premine had been already been dumped at peak value... (and everybody seems happy with that...  Grin)
In our case (or ARCH for example) price is determined by the amount of BTC invested divided by the amount of presale coins, so investors determine the price.

And a greedy dev point in ICO/IPO/... is well ... name a dev (on altcoin scene) who will spend his time developing stuff out of goodness of his heart (except for those working on bitcoin - though here we have a prestige role and is not altcoin of course). I'm not saying there is none but people do stuff to make money not to pickup the crumbs. So a dev will find a way to make money of his work, and "you can take that to the bank and cash it" ... Not that it's anything wrong with coin devs making profit if you ask me, but a lot of them are making it in the wrong way.