Today we're going to talk about how you can screen ICOs and decide wether they are potential scams or not. I want to share some metrics I usually use myself and things that turn me off in ICOs. ICO scams are very common and will only become more common as the crypto industry grows. I hope this video will help and enlighten people - share it with your friends and family who are new to crypto but are eager to learn. Enjoy guys!
https://www.youtube.com/watch?v=H6Ak2ulc9QY
https://steemitimages.com/DQmRKgYYp1TzWmvqtnfbMSLZQSgUXinUxqyHyd39HZ8j7gx/Steemit-Flash-Steemit.gif
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Ivan on Tech by Ivan Liljeqvist
Thanks Ivan, I'm new to the space, but I've been learning fast - in part thanks to your great content.
It's quite surprising, given the amounts we're dealing with, how many people are easily swayed by hype (if I see "TO THE MOON" one more time!)
And never mind not checking GitHub, I think a lot of ICO investors don't even read the white paper. And if they look at it, they read the brief overview. It's too easy to follow the hype, and people like McAfee.
A fool and his money are easily parted.
Always be cautious with your investments. Use what you can lose. Our strategies are similar. Keep up the good work ill follow and resteem.
One more noteworthy comment, follow them and keep yourself informed and a part of the community. It could be a scam thats fooling everyone, and once they change and start kicking people that express negative opinions, sell what they gave you (if anything) and get out. Best of luck!
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Very useful video from someone I've been following since my crypto journey started (two weeks ago). Yes, I bought into the peak. Have been reading about cryptocurrency on and off for a few years.
But no regrets, I genuinely believe in the tech. Just need to make sure I invest in the next Google, not the next pets.com
This is essential reading, if you're too young to remember the dot-com bubble. Companies worth $Bs folded overnight
http://money.cnn.com/gallery/technology/2015/03/02/dot-com-flops/index.html
So yes, be excited by the technology, but if you're going to invest your money, same rules from the old world will apply to the new.
My checklist
- an idea that is useful
- a team that has a proven record of delivery
- enough funding to last the whole journey
Hope that's useful
Good video... But even at a lower level.
There are some more insidious down right rip offs going on, I just uncovered a prime example of 1 today:
https://steemit.com/scam/@richatvns/warning-pre-ico-scammer-on-google-results
Please pass the info forward...
Rich :)
Totally agree with you Ivan, too many people chasing easy money can only lead to tears. I do believe concurrency and blockchain is the future, but anyone who wants to understand how this might play out should read this:
https://en.wikipedia.org/wiki/Railway_Mania#The_end_of_the_Mania
There will be a bubble, there will be a crash, there will be a major change, just make sure you're not holding dud currencies at the end of it. Always look for a quality team, quality technology and a clear use case.