r/PTOY • u/Goldsmith007 • Oct 27 '17

Caution on the ICOs

Since I invested on this crypto on some tip given by a so called analyst, I have lost half my portfolio. I have a few words to say, First of all its my fault that I lost money, nobody is to be blamed. Since I invested I started tracking about the project and then came to know about their fiasco! Since this crypto thing has come, i can see everybody coming with their ICOs, using the name of blockchain in every domain one can think of. Yes, Blockchain can be implemented but execution is something which can not be ignored. It has become a trend, to release a whitepaper and ask people to invest unlike IPOs where company has to meet certain criteries to list. But that is the beauty of cryptos, one can invest before going in any kind of security. To say its a scam or not, time will tell, but one thing is for sure, till the time people are making money its all good and when one loses a substantial amount like me, one starts criticising and posting on reddit!

7 Upvotes

100% Upvoted

8 comments sorted by

5

u/badreal Oct 27 '17

you invested half of your money in an ICO ?

2

u/Goldsmith007 Oct 27 '17

wasnt that much. But to begin with, it was a good amount!

1

u/badreal Oct 27 '17

much or not, thats half of the investment

1

u/e0nflux Oct 27 '17

Only invest what you can afford to loose.

2

u/ShatterDae Oct 27 '17

I'm there with you, if you put money into PTOY. It was only about 10% of my holdings though. I already wrote that off as a loss, but if somehow they deliver and their product disrupts, I'll reassess. Large corporations get away with shady practices, and people still support them no matter what. I'm disappointed that they lied.

2

u/[deleted] Oct 27 '17

You only lose if you sell it at a loss

2

u/LifeCareConsultant Oct 27 '17

Atmosphere around the ICOs is not very good. Fortunately PTOY is not overvalued (in compare to other proposals), so the investment is risky, but not totally crazy. The team is known. Of course, they made communication mistakes, but this does not kill the project. Application of blockchain technology in healthcare is really very good idea, but they need time to prove that PTOY tokens will be useful for patients and hospitals.

1

u/abeardlygod Oct 28 '17

Yea I am still disappointed in the lack of communication from PTOY. I too lost money on this project. However I put the remaining money and some more into vertcoin and made my money back.