So, here we're.
From an affordable, secure and pristine hotel room where bright minds and fat wallets could meet and stay overnight to give this world something decent and then collect money from the grateful public, cryptocurrency crowdfunding transformed into a cathouse
avoided by the former and neglected by the latter.
With the figures varying massively in relation to the source and amount of money the given source was paid, it's possible to say that 80-95% of the ICOs
collecting money now are the fraud
Why believe us? Well, we're an IT company
that has no interest in giving you untruthful information. Besides, we're writing unpopular things
here. And, you know, nobody pays for pointing out what the majority prefer to never really acknowledge. We make money out of delivering the code and consulting our clients and we make much more than we could of by merely lying to our few readers.
At this point, it would be logical to explain what, if not the $ figure
, motivates us to create this article.
As a software development company, we've been serving a number of individuals launching ICO campaigns
. Not all of them are downright honest. No, not with us (they pay and they pay enough), but with those their campaigns are focused on.
As the staff behind the scenes
, we can always tell a scum from a real thing. It's enough to just examine the whitepaper or discuss the project with the client. But, you know, money is money
- we don't say no even if we see that the project will end up as a deceit (and, believe us, we're are not alone in our pragmatism). Nor we expose those who don't want to be exposed - some business rules cannot be broken
Yet, believe or not, accomplishing such projects doesn't feel fine. We're interested in truthful ICOs and honest investees
. We honestly believe in a better future of the ICO
and we would like to be on the right side when it arrives. Finally, we take care of our reputation. And, as you must have already noticed, we're making ourselves a bit of an ad.
That's where out motivation comes from. Getting Wrong Things Right
Many, primarily those who've already succeeded in losing money
, prefer blaming ICO creators, governments, blockchain - in short everything and everyone except for themselves.
We don't agree. Not a single ICO cap has been achieved with a gun put to the investor's head. Folks voluntarily give money
to a random guy on the Internet, whose fault is that?
According to the latest statistics, only about 40%
of the cryptocurrency investors bother themselves with merely reading the whitepaper
- the alpha and omega of any crowdfunding activity. What it means is that more than a half of those who contribute their money have no idea about who is the one they're dealing with or what it is he's going to attempt.
Look at this
. Guys had excellent fun (and also largely inspired this article) while still raising real money. $247,300
according to their own website, more realistic but still impressive $80,520
according to this stat
The simplicity, openness and lack of regulation in the area indeed fuel the flames, but they are barely the source. The greediness
and go-happy-lucky attitude
of the "investors" seems like a more realistic answer.
To prove this predictably unpopular point
, some examples of how dubious affairs
helped not particularly discerning people to lose millions in the past should be introduced.