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Comment by snissn | Hacker News Reader

I just saw and clicked an ad for this ICO and it looks just like Howey Coin's site - https://icerockmining.io/en.html (I don't know whether this is a scam or not, i don't recommend investing or avoiding it, I just wanted to point out how similar the website looks to the howeycoins website! DYOR) (Being overly neutral for its own sake here, but it seems very questionable)

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Looks like pure bullshit or utter incompetence. Yeah, your mountain is actually at 12°C, but with 50kW or more of processing power, you're actually creating an oven if you haven't got ventilation or cooling. Stupid

the biggest giveaway is the purported ROI. mining is barely profitable. the returns they promise are a big red flag

These mining ICOs are incredibly scammy. Look at what happened with Envion. 100M raised in ICO which promised huge returns. Now the founders claim the CEO had illegally taken control of the company.

It's all just smoke and mirrors. The reality is that they never had the capabilities to compete in the mining business. But they sure sold a ton of their shit tokens!

My hot take is there's no way that's even remotely legitimate. Justification for projected ROI in FAQ includes "The question - do you believe in Bitcoin or not? In our case, we strongly believe in BTC BTC" and "ROI of 439% per year is easy to explain thanks to 20% monthly reinvestment"

I'm surprised there isn't already a DIY ICO generator on GitHub.

I could swear there was an HN post recently to do exactly that.

I know I've seen one before.

iirc there was a script someone made distributed with bitcoin core source which would ask about basic variables and then bam you got a new coin ready to start mining.

With tokens on other coins it just becomes soo easy

I'll do you own better: https://crapcoin.solutions/

Found it on here a couple days, maybe weeks back.

There is:

http://yetanotherico.com

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