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vvrao (27) · 7 years ago

Awsome article.. is there a way to know which ico offerings are good to invest ? And what kind of firm do we have to invest in ?

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heavey (59) · 7 years ago

The honest answer is that there is no single way to tell.

My personal process involves finding a market space where I think crypto-based companies can outcompete regular companies e.g. social media.

Then I attempt to find as many of the competitors as possible in this space and compare them to see which one I believe will be the best in the long run.

I like to look at tonnes of different factors e.g. opening price, the tech, the team, the platform etc. in order to determine this.

I try to write up as many ICOs in this manner as I can. Have a look at the upcoming Aventus and Red Pulse ICOs if you're looking to invest in any :)

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sadekj (58) · 7 years ago

Thank you @heavey. A good post as usual.

The problem with ICOs is that they are widely open to all people. Many of the ICO are clearly bound to fail. Some of them are scams. However, since most people have too little experience in investment, they get into them.

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heavey (59) · 7 years ago

It's true mate; the higher the reward, the higher the risk too. The key for me is that I think the general public will prefer that to low risk/low reward and, for this reason, the general public could begin investing more and more over the next few years. Also, regulation in the long-term should help cut out the majority of the scam ICOs

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raybilson (55) · 7 years ago

This post clarify a lot of thing, thanks for the information.

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3 votes

saintkizito (25) · 7 years ago

Thank you so much sir, even a beginner can understand clearly the basics of cryptocurrencies from this post. God bless you sir.
Thank God for steemit. It can only get better.

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3 votes

churchboy (60) · 7 years ago

We are fortunate people indeed to be alive in this age. Making dreams come true has never been in the hands of individuals as it is today so congratulations.

heavey (59) · 7 years ago

Couldn't have said it better myself

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thomasfarley (48) · 7 years ago (edited)

A lot of ICO's tend to flop in value after there release into the larger markets, you have to be very careful with your options in my opinion. Thank you for the post, upvoted.

mikedestiney (41) · 7 years ago

💯%✔
Sometimes it's not a good idea to get on a coin via ICO.
As I have observed, most coins drop in value significantly after the ICO, which of course is bad for investors. In addition to possible ICO scams, I personally think the risks in getting into ICO are many, hence it would be wise to hold on get the coins when they are on Exchanges, especially reputable exchange like Bitfinex.
My personal opinion though 🤔

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cryptostash (30) · 7 years ago

Yea yea

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thomasfarley (48) · 7 years ago

Yes very true:)

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heavey (59) · 7 years ago

I agree, it's higher risk and higher reward now :)

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smartlogic (48) · 7 years ago

Thanks for the information

manonlescaut (50) · 7 years ago

Great overview of the ICO-Movement. Upvoted!

mikedestiney (41) · 7 years ago

@Tom, thanks for the very articulating post. I got full insights now into what ICO is. Yea, like you said, the higher the reward, the higher the risk! 💯%✔
I was just wondering, could you tell us why ICOs are currently prohibited in Singapore and the USA? Also, if you could, it would be nice to know how to really identify a scam ICO. I hundreds of ICO adverts everyday on Facebook. It's just so crazy ! 🙆‍♂️
Will check back to ser your response.
Thanks man ✌

heavey (59) · 7 years ago

The illegality in USA and the Singapore is due to a legal issue surrounding ICOs in those countries. Something to do with it being considered an illegal investment because the ICO isn't regulated and therefore doesn't have the correct legal status as a security. I'm not 100% that this is the exact reason but I believe it is something like this :)

The truth is that there is no definitive way to see if an ICO is a scam. I would say that the best thing to do is to follow along with their blog posts, their slack channel, read their whitepaper etc. It's impossible to be 100% but if you only invest in ICOs with strong reputation and, if you always stay well diversified, you should be alright!

Also, you can follow my channel where I tend to do significant research into ICOs :)

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mikedestiney (41) · 7 years ago

Absolutely!

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kasou80 (54) · 7 years ago

I'm from Singapore and we have such a strict policy on online purchase of "digital goods". Anything that is speculative now or in the near future is considered as gambling, therefore it is regulated in certain ways but that's how it works around here. With all these rules and regulations, we get to start creative on the solutions and workaround, which in turn empower us in so many ways.

heavey (59) · 7 years ago

I think it's ridiculous really that ICOs are banned in Singapore and the US. It might be a gamble, but I think everyone has the right to make that decision from themselves. At least you can use a VPN to get around the issue relatively easily :)

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farizal (64) · 7 years ago

Most ICO especially on Ethereum Blockchain are just tokens with made up special abilities. I'm not against ICO, but you know most of it are just over marketed tokens. I hope EOS will become a reality because it is a whole new blockchain tech.

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heavey (59) · 7 years ago

The majority are over marketed tokens, I fully agree.

However, I also think there is some gold to be found if you are good at analysing the ICO and the surrounding business sector. That's just my take though :)

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amec (58) · 7 years ago

Great post...u really took ur time

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booster (68) · 7 years ago

This post has received a 10.81 % upvote from @booster thanks to: @heavey.

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minnowbooster (73) · 7 years ago

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jay6007 (25) · 7 years ago

wao nice article

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