Co-founder of cryptomunt ETHEREUM: "A ticking time bomb"

Crytpomunt ethereum has been populair and a rival to bitcoin this year. But one of the ethereal developers believes there is a bubble, according to Bloomberg press office.

Ethereum has risen over 1,500 percent this year. And that march collapsed with an explosion of so-called Intitial Coin Offerings (ICOs).

In this case, there are funding rounds for new crypto coins, with investors paying the developers with ethereum or bitcoin, and in return get units of such a new crypto coin (tokens). With hopes that the new cryptomunt will be a success.

Too many alternative crypto points
This year, more than one billion dollars have been put into Initial Coin Offerings, according to the Financial Times. But the co-founder of the company behind ethereum, Charles Hoskinson, says to Bloomberg that the explosion of financing projects for alternative crypto coins can unfortunately unravel for ethereum itself.

"Some people say that ICOs are great for ethereum - for looking at the price trend! - but it's a ticking time bomb, "said Hoskins. "There is an abundance of new tokens [units of crypto coins, red]. The underlying companies do things that can be done with the blockchain technology of existing crypto coins. People are blinded by the fast money. "

Some startups have used ICOs to finance funding. A well-known example is Gnosis, which wants to facilitate online gaming markets where you pay with ethereum. Gnosis reached $ 12 million in 10 minutes.

Hoskinson joined the ethereal founding team in 2013 and left again in June 2014. He wanted to make a profit-making company. Others, including ethereum designer Vialik Buterin, wanted the organization a no profit company.

Programmer Buteren considered ethereum as an alternative platform for bitcoin, for so-called "smart contracts".

Classic case wouldn't you think?