A lot of people use the term 'scam' when talking about different past, present or future ICO's (and ITO's).
My questions is; which specific past (or current) ICO's are actually scams, and what made them a scam? And what percentage of the total ICO's are scams (estimation)?
Possible 'scam' scenario's, ICO raises money and then:
- The intention was to scam people from the first place, left with all the money
- The project is abandoned without delivering a product
- The coins are never listed on any exchanges (no effort from team)
- Team doesn't hold promises, lack of effort etc..
- More coins are sold than promised, or extra coins are created, coins not burned etc..
- etc..