Cryptocurrency Market Cap Drops $17 Billion in Bearish Correction
You may know that I’m big supporter of Ignite Ratings, it’s no secret. However, I have to admit that when Damon and Chris said how this ICO rating market is corrupted I think they were over exaggerating. I mean, I knew there was an issue, that’s why I love what’s ignite trying to do but I honestly didn’t believe it was that big of an issue.
With the recent update to the Ignite Ratings beta platform, I decided to start building up my reputation by reviewing one ICO/crypto each day (which is really hard btw because not many people are willing to review my work 😛 ). I started by doing my own research based on reading whitepapers and googling some things up. As you could expect, the amount of shitty ICOs is overwhelming and I decided to check out what other “reputable” sources have to say about them. And it wasn’t pretty.
Today I reviewed iCasting.io, basically a Tinder for matching talented people with clients. On a blockchain. Perhaps a good idea but there is absolutely no need for the blockchain tech in it. Close to 0 token utility plus some other budgeting decisions make it an obvious cash grab.
What does icobench has to say? 4.1 overall score, “experts” praising this with lame statements such as as “strong team, great advisory board, bold vision etc”. THIS IS SCARY. Out of 11 reviews, only two where honest and authors were immediately discredited and downvoted. But take a look yourself: https://icobench.com/ico/icasting-io/ratings#ratings
I really don’t know what to say other than that I really hope this bear market will weed this out and people will learn to dig deeper before putting their money in an ICO