Forum rules
This sub-forum is a hub for referral links. Due to incessant referral spam being posted throughout the forum, all referral links must be posted only within this sub-forum; posting them elsewhere on the forum is not permitted. Any referral links posted elsewhere will be moved here.

Bitcoin.com is not responsible for any of the referral links posted or promoted here.
Users are responsible for their own safety and security on any link they choose to click on, or external site they wish to engage with.

None of the sites linked here are endorsed by Bitcoin.com; users must do their own due diligence on any company / site linked to within this sub-forum.
User avatar
StopIcoAdmin
Posts: 2
Joined: Mon Nov 13, 2017 9:57 am

Ethereum Proposes 'Guidelines' To Stop ICO-Related Fraud As Petition Against ICO Gains Ground

Mon Nov 13, 2017 11:51 am

It looks like Ethereum’s developers and entrepreneurs have finally recognized the perils of being associated with the massively fraudulent ICO market.

ICOs have exploded since the beginning of the year as companies equipped with little more than a white paper sketching out some grandiose (and often highly improbable) killer app that somehow incorporates a monetized token trading on a blockchain much like bitcoin. So far, these offerings have raised more than $3 billion this year, and many of them are built on top of Ethereum’s platform, which enables the creation of decentralized “smart contracts” that can carry out higher level functions beyond simple transfers of value.

The tone of these remarks stands in stark contrast to the optimism about ICOs , which just earlier this year were being hailed as a groundbreaking tool for capable of revolutionizing how companies raise money.

Etherscan CEO and founder Matthew Tan went so far as to call ICOs ethereum's "killer app," a statement that aligns with the more than 10,000 token projects launched to date – 13 of which have eclipsed $100 million in total market value, according to Etherscan data.

It's an interesting take seeing how ICOs are typically touted as a means to circumvent traditional fundraising methods. But, du Rose's sentiments hint at a crucial criticism: that many ICOs are simply executing incorrectly.
The criticism comes as regulators in US, China and many other major markets for cryptocurrencies have taken steps to curb or regulate the markets. The SEC has been slowly clarifying its stance toward ICOs since this summer, when it first declared - in a finding about the DAO fiasco - that ICOs are securities that must be registered with the SEC and subject to US securities laws.To their credit, Ethereum developers have suggested some helpful “guidelines” of their own.

Here’s Jack du Rose, co-founder of ethereum startup Colony:

Ethereum developers largely believe that, at the very least, the individuals or company behind an ICO should have a prototype to prove their idea could theoretically work in practice. For instance, ethereum-based casino game platform FunFair launched an ICO over the summer, but only after releasing several prototypes.

And FunFair founder and CEO Jez San Obe had strong words about issuers that do it differently.

"You should have a product before you ICO, you should know how to run a company, you shouldn't have an anonymous team and you should release a prototype first," he told CoinDesk.

Stopico, an ethereum based campaign to regulate/abolish ICO has started a humorous campaign which involves a donation and a petition which is currently gaining attraction recently calling for investigation into ICOs more seriously, and ask tough questions about returns & obligations while demanding proofs & trustless mechanisms to ensure the token worth.

You can join the campaign here https://www.change.org/p/council-of-the ... lish-ico-s or visit http://stopico.com to learn more

Return to “Referral Links”

Who is online

Users browsing this forum: No registered users and 16 guests