is there anybody having experience with initial coin offering?

[mobius+]

I know, there are a wast of discussions about cryptocurrencies out there but honestly I would like to have some real opinions about initial coin offering. To explain the case: its about a new project I read this days which should be a platform for cultural interested people who could also buy tickets and other cultural related stuff via a new cryptocurrency called Cultural Coin. The thing is, that I am new in this cryptocurrency "world" and there is now a initial coin offering which started this week. It sounds good to me but as a newbie I would have some extra opinions from somebody who has already done such initial coin offering and how it did work exactly? Thanks for any advice ;)

[TheFu]

OVer 50% of new crypto-currencies started last year have already failed. http://www.businessinsider.com/bitcoin-price-ethereum-collapsing-cryptocurrencies-2017-7 be very careful.
There are safer ways to make money, IMHO.

[braghum]

ICOs usually are always the same and if you have experienced one you know about all of them. ;) Think about it as just another form of advance sale - with better conditions since you are after all crowdfunding the project. If enough money is put into the pool to "kickstart" it, the coin will be released at the end of the ICO phase. (Otherwise the money goes back to the donors.)

Details for your specific currency can be found here, i suppose:
https://www.culturalplaces.com/how-to-participate-in-the-ico/
And ofc you would need a "crypto wallet" to participate.

TheFU got it right that there are a bazillion of different crypto-currencies out there now and you should look closely at the people behind a project!

[HermanAB]

Well, it sure is a good way to waste money.

[TheFu]

John Oliver explains Crypto-currencies. Also explains about the different methods of fraud - pump-n-dump scams.
Google for the youtube video. It has some cussing. It is an HBO weekly news/events type show. Link was removed ... as it should have been. Sorry.

[QIII]

The John Oliver bit was absolutely hilarious -- but I'm not sure a link is family- or workplace-friendly, even if beeped. :)

We'll let others google it if they want to see it.

[braghum]

Well, it sure is a good way to waste money.

As with the stock market - you need to make yourself knowledgeable about both. ;)


@John Oliver: Well, in terms of general family-friendliness he is surely not for all audiences - but i have not very often seen such a good description of the advantages and risks of the new technology! Makes it far easier for less...interested people to understand the potential. ^^

[mobius+]

Sorry for this late reply (I was quite busy this weeks) and thanks for the answer.



Details for your specific currency can be found here, i suppose:
https://www.culturalplaces.com/how-t...te-in-the-ico/ (https://www.culturalplaces.com/how-to-participate-in-the-ico/)
And ofc you would need a "crypto wallet" to participate.

Yes its exactly this project. Actually the Cultural Places team expanded the ICO phase and they are still selling the so called Cultural Coin tokens. Actually I am already participating in the project (and yes, I have read your posts before but had no time to answer ;) ). Thanks for the info braghum...but I already knew that I need a crypto wallet to participate ;)

As you guys commented (like @TheFU), there are a lot of ICOs going on and a lot are also a scam. After following this special project I was sure that this is a serious one because of the team which is behind and especially the ICO ratings on other websites like ICObench, foxico, Foundico, ICOholder and so on. And the project got a good rating in all of this sites. I think, the first thing to do before participating in an ICO is to check some of this rating site if the ICO is a serious project and what experts think about it....after that oneself should read carefully the whitelist and study the roadmap and maybe the most important thing to consider: one has to believe also in the idea and the success of the project!

@TheFU: haha yeah...I have seen John Olivers cryptocurrency explanation in his show....quite a good one and the good thing is that they clearly pointed out, that everybody has to know about the risks of investing in cryptocurrencies.