Do not jump on every new crypto there is, especcially ICO's

Dear people, please do not jump on every new altcoin you see, especcially an ICO (initial Coin Offering). On a facebook group I read a story of someone that complains on a crypto called mycelium where the development spend money from the ICO for a holiday in Italy! YEEEEAAAHH, it is proven that they PARTY from your money and you get the new coins.

It is just like the Central Banks printig money and give it to the shareholders (large banks) and the commercial banks giving loans to people and creating 90% of loan out of thin ait (10% is the deposit banks have to make).

An ICO is a launch of a newborn cryptocurrency that is put into the market. And people buy this newborn cryptocurrency on the ICO. The buyer get the newborn cryptocurrency in the hop they make a return (or get rich!). And the developmentteam gets the raised dollars (usually dollars).

The newborn coin is a new coin on top of the hundred of new coins there are. Usually for the reason there is no market adoption. Off course most coins are really invisable. Would you buy for example Pupacoin? On nr 588 on the list of crypto on cryptocompare? Well Pupcoin lost 50% today. Most coins will fail. The ones that will exist has real added market value.

Please if you buy form a ICO only invest money you can miss and realize that you can lose all of it! I can't image why people are so misinformed every time. I can tell you all that there are in the future a lot of ICO that fail. I think the rate of failure is more than 70%.