This past year has seen an explosion in new blockchain projects creating new tokens and hosting ICO's.
The Good
- Many exceptional projects that provide unparalleled value to the blockchain ecosystem are able to easily raise enough funds to catapult development and quickly return value.
- A large community of investors from across the globe are able to fund these projects with over $5.5 Billion since 2018 began!
The Bad
- Scams, Scammers, and fraud! Big money always attracts the schemers and thieves just as much as it will attract anyone who is interested in making money. As with most things in life, sometimes the easiest way isn't always a legitimate way...
- Low regulation. The Wild-Wild-West of Bitcoin land is in ICO's. Nobody is going to save you out here. In fact, asking for help will only put a big "Newbie" target on your back for those scammers.
The Bitcoin
- I propose that a large portion of bitcoins recent success has been due to the recent ICO craze that has provided unprecidented Bitcoin related marketing across the globe.
- Although bitcoin has trended downward for the past 5months... It is still much higher than 1year ago, which gives bitcoin room to be much higher again next year in 2019.
- Just In Bitcoin is NOT a security!
As a final thought, I am still very optimistic about the future of Bitcoin and cryptocurrencies.
I am also I believer that having a strong ICO market is good for the overall cryptocurrency economy and that it can show a guage on how the market is doing. Currently the ICO market is still going at a great pace - many projects are bringing in 20-50 million and new projects are being announced each and every day.
This concept relates to the belief that a strong market warrants strong inovation, and where there is strong inovation there is always big money!
What are your thoughts on the current ICO market?
- Do you wish ICO's would just go away and all the focus can be brought back to bitcoin?
- Would you prefer more regulation to the ICO market?
~Keep on - Steemin' on~
@generation.easy
Bitcoin and Gold Fanatic
We need some kind of regulation for sure. In 99% of all cases you see its a project of no value when it has the words "coin" or "bit" in its name. :) This flood of ICOs is crazy. There needs some institution where they should have to register for coming up with an ICO. But therefore we need globally harmonized regulation. I dont look at any new ICOs any more. It ist just too much to read 10 white papers a day, checking the background of the team and so on.
Did you know about that FIFA ICO going on? They are advertising their ICO with Ronaldo, Messi, Satashi and a dead man. This is insane. I dont like FIFA and what they are standing for, but we all have to do against those fraudulent schemes. Oh an I got a reply from the real FIFA today. They will investigate this matter and take action. :)
PS: Thats why I like the NEO-plattform. A company promoting certain ICOS after checking the value they can add to the ecosystem.
What are your thoughts on the suspicion that bitcoin was pushed upwards because of new thethers being issued and hitting the market.
It's not surprising this space is manipulated while the market is young. This should of course fade as time goes on.
ICO's despite the scams rare far fro a bad thing. Despite the fact they maybe saturating the space they are needed to explore new applications of blockchain.
Over time I feel like the quality has been growing and hopefully better ones are to come.
I heard something about the tether thing causing manipulation - except It just doesn't seem to have enough volume to cause such a massive boom.
It wasn't only Bitcoin- all the other alts rallied hard. It's hard to attribute 2bil tether causing 300-400 billion increase in cryptomarket cap...
I find that more and more, Steem Power is my preferred crypto investment. Oh, I still hodl some Bitcoin, have a bit of Litecoin, some BTS, and a few other alts, but keep wanting to add SP.
Steem is one of my choices too. Most of my profit goes into Steem power!
I cannot wait to see what will happen when the next wave of adopters catapult cryptocurrencies into the next bull run.
Very nice post @generation.easy! My friend have created awesome Steemit t-shirt and I want to share it with our amazing community! More detailed pictures here:
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https://teespring.com/steem-to-the-moon
bad ass! love it!
Thank you for your continued support of SteemSilverGold
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i think ICOs in their current for are bad for cryptos. Rgith now, a lot of projects are just scamming people and their seems to be no regulatory protection. Ideas havent been vetted, and most projects are being sold as some great solution to a big problem mankind is facing. truth is, they aren't solving any problem at all.
with proper regulations and consumer protection, icos will be great, because founders will be accountable. right now, they raise some money, keep the bulk of tokens with themselves, launch on exchange, cash out slowly as price goes up. it the most profitable lottery system out there.
market should focus on bitcoin, ether and some promising tokens. rest all is bullshit.