Some more ICOs in 2016?
Image: In case you missed DAO, Lisk and Waves you might be firing up the search engines in the mighty state of FOMO. Well, there is not much to miss this year.
ICO Watching Services
Right first off: There are a few websites that gather information about ICOs.
First of all you can go directlt to icostart.com and place random bets. But if you are not a gambler, sign up for newsletter at icocountdown and also watch their blog where they do some good investigative journalism, pretty much.
You think you know what’s ICO
You think you know what’s ICO, right? Initial coin offering, a way to crowdfund development of a new blockchain-based platform. Funds or social media support are provided in return for tokens that are sold out cheap in the presale so speculators buy in hoping the token will eventually get dearer.
Well that is quite wrong my friend! Initial coin offering is actually more realistically an easy way for the project leaders to get rich and then let the project stall for whatever reason (governance issues, technical issues, political issues, personal issues) which can in turn serve as a good reason to open a new ICO for a fork of the stalled project (with better governance etc).
It is easy to get the money off of people since tokens on ICOs are always speculative in value so anyone setting up an ICO for a vaporware token will get away with that.
So is it a good idea to invest in an ICO?
It might be a good idea in some cases - and that’s how many investors think about that: If the project turns out to be vapor and you didn’t go all in, it’s easy to write off a bunch of tokens that were actually very cheap and also a small investment as a whole. If on the other hand the rare event should occur that the coin will get relatively expensive (like ETH) you might get a very outsized profit which will also cover the losses - if you let the winner ride, which can be nerve wrecking.
Some research is needed though
The way I described the ICO investment, it’s very similar to betting. That’s something to keep in mind - because in gamble it might be a good idea to bet on the jockey, not the horse: Google some information about the project leaders.
It is usually fairly easy to find out if the leaders were previously related to a failed shitcoin in which case it might be a good idea to stay the fuck away.
Let’s see what’s still out there for the rest of 2016.
Pending ICOs in June 2016
And let’s pick those kind of interesting. There are plenty more, you can invest directly at icostart.com.
Plutus.in / Get Plutons
To Be Announced - June 2016
Plutus was on the radar since deep into last year already as a platform claiming to not trying to change the paradigm, but rather working with what’s out there. Next to all the shitcoins that are definitely the next big thing this sound incredibly sane.
The use case, to keep it simple, is something like a proxy: You want to shop in a store that only accepts USD, you send a cryptocurrency equivalent to plutus and they will pay the goods for you via a virtual debit card.
The exchange/contract logic runs on Ethereum blockchain with plutons as tokens that can be used to get a rebate for using the platform.
The question is if you are not better off simply with a virtual credit card of Advcash or Neteller - and you know many merchants don’t want to accept these anyway. But you see that it is not a complete bullshit. The crowdsale is yet to be announced, you can sign up for news on the homepage.
ICOO / Initial Coin Offering Open Ledger
Crowdsale On in June 2016
The Danish cryptocurrency platform, CCEDK, and OpenLedger have announced the crowdsale of its Initial Coin Offering OpenLedger (ICOO) crowdsale.
ICOO crowdsale allows people to buy ICOO tokens with Bitcoin or any other currency supported on the CCEDK or OpenLedger platform. However, all the payments towards ICOO tokens, irrespective of the currency will be converted to Bitcoin to prevent loss of value.
ICOO has quite a lot of info about the project. If you want it more PR-style, try newsbtc.com. To see the Danish trading platform CCEDK click here, Open Ledger is a transparent decentralized crypto exchange using OBITS as means of investing in digital assets.
The ICOO’s tokens crowdsale details:
Start Date: May 20th at 18:00 UTC.
Duration: 42 days.
- For the first 12 days: 1000 ICOO tokens for 1 bitcoin (BTC)
- For the 15 subsequent days: 925 ICOO tokens for 1 bitcoin (BTC)
- For the 10 successive days: 850 ICOO tokens for 1 bitcoin (BTC)
- For the last 5 days: constant 775 ICOO tokens for 1 bitcoin (BTC)
Crowdsale On in June 2016 (close 24 June)
Rise looks like an ambitions project. However, Alex of icocountdown.com did the legwork of googling and delisted Rise from his ICO-watching website. The founders already have a history of CloakCoin and the testnet seems cranky.
If you are still interested here are the full ICO terms.
Crowdsale On in Summer 2016 (close 12 August)
Elastic project is listed as an ICO, which it basically is, but not a speculative one. The project needs to be funded which is supposed to be done by means of donations. Donors however shouldn’t expect any profit: The tokens have no value other than accessing the software.
That is, do not expect any future rewards for your donation. Elastic Coins (XEL) have no value and should neither be considered as a storage of value nor as any kind of investment. Instead, the Elastic Coins (XEL) you receive are just an early access to the open source software that is created in the context of Elastic. That is, Elastic Coins (XEL) can be seen as the “cryptographic fuel” that is needed to submit work to the Elastic Network and/or perform transactions on the Elastic blockchain and so Elastic Coins (XEL) are a software product under Swiss law. Donating, to emphasize once again, just means supporting the development of an open source project and nothing else.
Crowdsale On in June 2nd to 12th 2016
A small coin that opens ICO to fund a small dev team. The only place it is ever mentioned is bitcointalk, very briefly.