You are viewing a single comment's thread from:
RE: Advice for Rookies and Pro’s. Why You Need Not Worry About China’s Crack Down on ICO’s and Why It’s a Great Thing
Nice post @solarguy!!! The amount of ETH that some of these ICOs are trying to raise can go into the tens of millions and even over a 100 million USD. No ICO should need that amount of capital to get a crypto project off the ground!
I've also heard some other pieces of what I believe is good advice:
- Be wary of any ICO that has insanely high amounts of tokens that they plan on releasing.
- Be wary if an ICO asks for your SSN and/or passport information to sign up.
- Prefer utility tokens over tokens that could be construed to be securities.
- Do they have a website that looks like crap and has tons of spelling and grammatical errors? If so, maybe stay away.
- Is there an actual product already under active development, or is it all vaporware?
- Is there a white paper or other meaning documentation? Do you read it?
- Did they publish a roadmap?
Thanks man, im glad you liked it.
Those are some pretty good tips to dodge crappy coins. I think a coin with a clear road map that are actually achieving and can show their progress is one of the indications its going to be something.
And its true what company needs hundreds of millions to get started on some software tech? Are they sending ship to another planet?