ICOs a Scam?
If you had invested within the first few days into IOTA's ICO you would have less than half your money right now. What was once trading at 63 cents each is now at just 28 cents. EOS at about the 3rd day after the ICO was released was at $5.00. You would have lost half your value as it is now trading at $2.38. If you bought LISK the first day you would have spent $6.91. now its trading at $1.84. Cryptocurrency is a scary place, especially for ICOS. Are ICOs being overpriced due to excitement and optimism, ABSOLUTELY. In recent ICOs almost all of them start at a higher price than they end up being just a few days later, this shows me that greed and hype are operating this market, not reason. I bought into cryptocurrency as an investment, I feel it offers real value in a lot of ways such as smart contracts, faster money transfer and a less manipulable market, but now I'm starting to wonder just how far it's going to go. What were the reasons that you got into crypto? What did you buy? How do you feel about the volatility?
This post received a 4.6% upvote from @randowhale thanks to @alexanderbaima! For more information, click here!
Well, yeah, some coins on the ICO market are scams, but others are legit with strong concepts behind them.
Although, in general, the majority of ICOs are scams, in my opinion.
ICOs are a risky bet - i will follow you now
If you gamble on ICO's then yes, it's very likely to end in a scam, but if you analyze properly the project then you will win more than you lose. Especially if you go for the long run.
Confusing risk with scam just dumbs down the meaning of words. The equivalent to ICOs in the stock market, IPOs, has the same built in risk.
All of the mentioned coins has yet to show a finished product. The market isn't dumber that it prices in the built in risk.