MEME: How I feel about ICOs
It seems like everybody is having an Initial Coin Offering these days!
There seems to be an endless list of ICOs these days.
For those of you who are unfamiliar with the term ICO, read the investopedia definition below!
DEFINITION of 'Initial Coin Offering (ICO)
"An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks. In an ICO campaign, a percentage of the cryptocurrency is sold to early backers of the project in exchange for legal tender or other cryptocurrencies, but usually for Bitcoin.Also called an Initial Public Coin Offering (IPCO)."
Read more: Initial Coin Offering (ICO) http://www.investopedia.com/terms/i/initial-coin-offering-ico.asp#ixzz4i6TzNaKJ
Check out the most recent example of an ICO with Kik messenger app.
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DASH: XgQ9NBonMoCPKhF37agY4W8zk7gwQFnwGV
Litecoin: LfqygtBxy3AJgEpTnTMUYGEoTYEcED8YPZ
This is true, and probably one of the reasons that Bitcoin(BTC) & Litecoin(LTC) have been driving up in value as of late. As I mentioned in my post on viewing ICOs, I am really glad that we have Ethereum(ETH)'s secure contract capabilities to ensure delivery this time around, as this phase reminds me of the kickstarter craze.
Yeah, there is a lot of uneducated money starting to poor in, that is what makes me nervous.
Same! I met a guy at the gym who was bragging about how he put $5k USD into Bitcoin(BTC) because that's all coinbase would let him buy. I asked him to explain it to me, and he couldn't....at all.
I don't think he will regret it lol, that is if he can handle the volatility. My worry is that ignorant investors will panic sell in a big way next correction. We will see.
Interesting. Thanks.
No prob, thanks for stopping by.
Always got time for you my friend.
Cheers mate
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