Totally! I think we've already seen the hugely damaging impact these ICOs have on the Ethereum network and it's in no way going to be limited to just that. Surely it will eventually damage the overall cryptocurrency market.
It wouldn't be too hard for one of these ICOs to be a complete scam. Someone could raise a few million off the back of a completely fake whitepaper and nothing but promotion.
shows the weakness of the ethereum network, compared with say Steem (graphene)
And agreed you could mix whitepaper with a lot of gas to make millions. So the good projects have something to show before actually asking for public investment, not just an idea.
Two perfect examples are: Numeraire and Ong Social
Totally! I think we've already seen the hugely damaging impact these ICOs have on the Ethereum network and it's in no way going to be limited to just that. Surely it will eventually damage the overall cryptocurrency market.
It wouldn't be too hard for one of these ICOs to be a complete scam. Someone could raise a few million off the back of a completely fake whitepaper and nothing but promotion.
shows the weakness of the ethereum network, compared with say Steem (graphene)
And agreed you could mix whitepaper with a lot of gas to make millions. So the good projects have something to show before actually asking for public investment, not just an idea.
Two perfect examples are: Numeraire and Ong Social
it seems like every day there's another ICO. Gotta pick the good ones.