Why ICOs are Bullshit & What I've Found

What's up world! First post here.

Before I dive into why ICOs are Bullshit, I want to give you a little insight into who I am and what exactly I do.

I've graded nearly 200 ICOs based on some metrics from friends and articles I've found across the vast space called 'the internet.' When I find an ICO, I look for a few things:

1. Does it have an actual use, does this actually have to be tokenized?

If it does...

1. Does it give power to the people, or power to a central authority? Is it actually secure?
2. What does social media have to say about the project (how much of it is valid)?
3. How strong is the team? Do they have enough background and experience in what they're trying to achieve?
4. Will this ICO benefit its investors AND development team?

I've adjusted some of my standards over time and keep a log of every. single. one . Like an idiot though, I wrote over my first 2 original spreadsheets and did not keep a back copy [forehead].

You see, over time (about a year and some change), I've realized that nearly 80% of all these 'offerings' are just ideas with no working product and barely any technical backing to support development. I'm no master coder, let alone smart contract analyst, but I work with what resources I have to determine an overall percentage-based score on each project. I've spent way too much time going over whitepapers, evaluating team strengths and fact-checking biographies and social hype to find such a small amount of 'solid' projects (hashgraph, safeguard, nuggets, etc) worth diving deeper into.

Given the current state of ICOs in the US and across the globe, there is still a large chance that investors can end up shit's creek if a project decides it's done and chooses to stop developing the platforms/ideas/etc. The risks of fraud and security also remain present because many people disregard safety measures and continue with their 'SSS' (shiny shit syndrome) instead of educating themselves on what could actually benefit our futures (and our children's futures).

Rather than shut down the ICO space completely, we're starting to see more awareness on Security Token Offerings, allowing investors to have their investments backed by tangible assets giving them more confidence and allowing these new technologies to raise the money necessary to deliver the intended product(s). While most people would approve of a 'wild wild west' environment to maximize gains (and sometimes risks), I believe a little guidance and security for the people will prove to be a strong catalyst in this evolving technological space we're in.

So, I'm interested to see where the space goes. I'm just tired of seeing companies raise money for an idea when they've yet to start developing the product.

If you took the time to read this, thank you. I'd love to get your insight in some comments, especially since I was distracted with my kids while writing this.

Cy@