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RE: Why is the ICO Failure rate at 92% ?
Simple reason its mostly shitcoins with no viable market, no new tech, and its being used as a funding tool to raise money for businesses that do not have the scale they promice.
Absolutely agree with you. The 'idea' doesn't always translate to a viable, usable product. And yet... there are still so many coming into the marketplace. Hopefully as we all become more 'savvy' we'll stop financing these idiotic ideas that will never see the light of day.
100% with you what also bothers me about ICO's is theres no liablity so you invest you lose your money oh sorry. If i'm a shareholder in a technical sense i'd like to recoup something like A selling off the assets or IP to someone else once the fund liquidates. Also key individuals in the ICO should be liable for loss of funds to a certain extent.
ICO's are being seen as donations or crowdfunding but its more like a capital drive and with the money raised from these ICOs' there needs to be some responsiblity for funds and outcome good or bad. I really like the concept of an ILP which i did a review on here
Could be the start of a self regulating ICO
My voting power isn't where it needs to be to give you an upvote but I enjoyed this post and great comment so i sent you a little SBD :) as a reward! Keep up the good work
Thank You!! I deeply, Deeply appreciate it and will certainly repay the favor soon. It's very important that we amplify the issues within the system to ensure that we create a stable, focused arena for folk to feel safe investing their money.
Taking responsibility for the funds invested is definitely something the Advisors and team should be accountable for.
Many Advisors are sitting on multiple ICO's , I'm sure receiving lots of Moola for their 'Name' but definitely are not taking any responsibility when things go 'square' after the Funding is complete.
If I could, I would have donated more. It's nice to find really well put together pieces and I like the way you think and lay out your arguments and with all the rubbish being posted on steemit if I do find a post I feel is worth it I'd gladly reward it
I fully agree with your sentiments ICOs are really the wild west and anything goes and money is being thrown into this sector like crazy which im fine with as long as it lands in the right hands and creates valuable products that can generate future income and become a sustainable part of the digital and world economy
Thank You so much for supporting my efforts. I'm so thrilled that you enjoy my work. I love writing my thoughts and experiences of the industry.
Looking forward to many more conversations and getting to know how we can help one another to be more successful. What is your expertise? How can I assist you in achieving your goals?
Let's hope so and hopefully rope more people in a long the way :)
Likewise, if you are on discord or telegram i'm keen to have a chat. I'm in digital marketing, primarily SEO but i have interests in a range of tech from AI, blockchain and always looking to learn more. How about you?
Oh I LIVE on Linkedin. Am quite active on telegram, discord, reddit, twitter, instagram, slack...
Be great to chat. Find me on Linkedin - Bonnie Crofford.