RE: The Current Shifting State of the ICO Markets
I share much of the same concerns and tell you the truth I am very skeptical about the entire process. Ethereum as it came to be, is nothing but an elaborate crowdfunding gimmick so far. It makes tokens. Nothing else really. This creates a lot of vaporware money for meme companies that I am not sure how they will end up actualizing their promises.
They only "safe" strategy in these "wild west times" is for one to diversify as much as possible and as far I am concerned, get in as many icos as possible even if they are bullshit. It will be vital to hold as many tokens as possible. Like you said, it will become very hard for the average crypto guy to even touch future icos so at least these will hold some value.
One thing I am sure. There is no bubble. We are no where near one yet. It just feels like that to us because we have been around for quite sometime.
Looking forward for the post about index tokens. I am really interested in those.
I think the congestion in the crowdsales is a big red flag for ETH as a network. One of the issues with many of the crowdsales being done in ETH is that a lot of the actively traded supply in ETH is being held to fund them.
Many of these tokens are just 'holding companies' for ETH. It's setting the precedent for a huge correction unless we start tweaking these ICO parameters above, or go to even more ridiculous valuations off the bat.
Which is why I'm looking more into funds - you get what you pay for, rather than valuations that have no reflection of the value of the token other than they are holding ETH.
Thanks for the comment, appreciated.
Couldn't agree more
You might think tokens are a 'gimmick' and many today very well might be; Ethereum powers many other financial applications today so I would not be so quick to call it an elaborate gimmick.
Oh think we are in a bubble alright, just a micro bubble after this summers chaos I expect. This pump is far from over I agree.
TaaS and some of the other index tokens or things like ShapeShift's prism have quite high fees at the moment. Might be worth it for diversification but I might stay away until there is more competition. I am more than capable of holding my own diversified portfolios.
To read more about Prism or how I feel about the crypto bubble, check out my posts from last week!
I think you're right about staying away and building your own portfolios. For me they are easy enough right now to get exposure without the effort of properly maintaining a portfolio.
That being said I've been developing my own actively managed portfolios recently.
I'll certainly check out your posts :)
I think I would certainly want a portion of my holdings more actively managed than I have the time. I might let more competition from groups like Iconomi to hit the market.
I bought some TaaS with ETH when it was around $30. So yeah, I guess I could have managed my own portfolio better by just holding. Ha.
In hindsight, I agree, there will be many competitors and it will be better to shop around.
For beginners, Exodus makes it relatively easy to manage a diversified portfolio. They seem to be vetting each coin they add to their wallet extensively, so if you aren't an expert (like me) I feel mostly diversified holding some of each coin they offer (plus STEEM obviously, and a couple others).
Here is their roadmap for coins to add:
http://woobull.com/exodus-wallet-roadmap-a-list-of-upcoming-asset-support/
Well I wouldn't base my investment on Exodus including a token. That is one of the worst things you could do.
OK, thanks.
In terms of portfolio management I use cryptocompare and blockfolio
will do