46% of Last Year’s ICOs Have Failed Already

Megalith

Megalith

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ICO trackers are showing that nearly half of 2017’s cryptocurrency projects, despite raising millions, have already failed. The majority were either scams, or simply faded into obscurity. Bitcoin.com is calling it a “digital graveyard.”

No one expected all of 2017’s ICOs to last the course. The pace at which they’ve withered and died may come as a surprise, though. Tokendata, one of the more comprehensive ICO trackers, lists 902 crowdsales which took place last year. Of these, 142 failed at the funding stage and a further 276 have since failed, either due to taking the money and running, or slowly fading into obscurity.
 
What we miss is a comparison on what is the percentage of new business start-ups which fail in general for comparison purpose, this figure may not stand out in the end.
 
No big surprise when you have coins named like doge, weed, tit, sex, etc..

And of course the ones that were just obvious total scams like bitconnect. You need to do your homework if you're going to invest/gamble on any of these projects. Some of the trash is easy to spot with a little effort.
 
There are scams everywhere, do your research or be left with no profit. If it seems too good to be true, and they can't properly explain even a plan, on how the coin will meet a need, keep looking.

Crypto and ICOs are risky, its about risk mitigation.
 
I still haven't figured out how Bitcoin really got legitimacy. Like, it wasn't MINED, it's never MINED, it's not even a thing. You just somehow got people to agree that this arbitrary hash or block is worth something.
 
NEVER touch a ICO without research it has proven so easy to scam people through them that everyone is trying it and quite afew seceding. same goes with some cryptos *cough* bitcoin gold *cough* if you are looking to jump into crypto without research buy ether.
 
Blakestr said:
I still haven't figured out how Bitcoin really got legitimacy. Like, it wasn't MINED, it's never MINED, it's not even a thing. You just somehow got people to agree that this arbitrary hash or block is worth something.
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like all other money. The only reason anything has value is because we all agree on that. The paper that you get from the bank that states $1, $5, $10, $20, $50 or $100 has no real value. However we have all agreed that it is worth some value that we will all trade for other things and to use as a common ground for bartering.
 
Blakestr said:
I still haven't figured out how Bitcoin really got legitimacy. Like, it wasn't MINED, it's never MINED, it's not even a thing. You just somehow got people to agree that this arbitrary hash or block is worth something.
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You can think of "mining" as a placeholder for incentive to share the workload of verifying transactions. The peer-review of transactions and verification is where the value stems from. Typical market mania takes over from there.

Some newer cryptocurrencies are working on ways to implement alternative incentive systems such as Ethereum which provides computation-based contracts or both Sia and Burst which provide decentralized encrypted storage. These have been much slower to adopt market interest due to the lack of software built using them and of course, they are not as easy to understand as bitcoin's simpler purpose.
 
Riptide_NVN said:
No big surprise when you have coins named like doge, weed, tit, sex, etc..

And of course the ones that were just obvious total scams like bitconnect. You need to do your homework if you're going to invest/gamble on any of these projects. Some of the trash is easy to spot with a little effort.
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Going to find this in the bargain bin at my local VR mart.
 
Exavior said:
like all other money. The only reason anything has value is because we all agree on that. The paper that you get from the bank that states $1, $5, $10, $20, $50 or $100 has no real value. However we have all agreed that it is worth some value that we will all trade for other things and to use as a common ground for bartering.
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I understand that. I should have stated : I do not understand how people agreed on the value of various hashes/block computations.
 
Blakestr said:
I understand that. I should have stated : I do not understand how people agreed on the value of various hashes/block computations.
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If it has blockchain in the press statement +500mil. If it has secure written in the press stayement, add another 500 mil.

/s aside, I honestly have no clue how this bubble even came to be. It’s like everyone finally realized bitcoin was “real” and they were too late to hit the mining bus, so now this Ponzi scheme of coins are being created so they can be “first” and make money.
 
TheSoldier said:
If it has blockchain in the press statement +500mil. If it has secure written in the press stayement, add another 500 mil.

/s aside, I honestly have no clue how this bubble even came to be. It’s like everyone finally realized bitcoin was “real” and they were too late to hit the mining bus, so now this Ponzi scheme of coins are being created so they can be “first” and make money.
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It's very similar to the dot com craze actually. In the end though I highly doubt Bitcoin will even survive as a currency. Global and Government adoption I just can't see happening.
 
wolf-of-crypto-meme.jpg
 
Whilst most new companies fail, if you change your sample group to companies that have millions of dollars it changes.

Most companies fail because they are undercapitalized and can't support themselves to profitability. If you manage to detonate that quickly, it was either far too costly, or a scam.

The too costly is really easy to see in startups and traditional investors are wise to it. If someone is raising a couple of million want wants to pay execs 300k, maybe a few developers on 150-200, get some swanky offices etc, there is a strong correlation to failure. You don't get the level of due diligence being done on many ICO's to look at those things.

Being tight as a ducks arse is the name of the game.

And not running a scam.
 
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