Bitcoin Forum

There are so many coins, over 95% of them will be dead and will never EVER have any real usage. I see people shilling shitcoins on twitter, telegram, slack, etc. and all that so they can later dump on people that are new to the crypto and fall for this. It's setting a very bad image for newcomers and taking away money that could be invested in the growth of real coins with potential and future. If you say something or try to warn someone, you are called a troll or FUD spreading because everyone in crypto right now thinks that they will get rich quickly on some coin that will be dead sooner or later.

ICOs... same story, I don't even want to start with this... Why are people so dumb and how to prevent this?

I don't think 95% of the altcoins will die off, not even close. If you look around, almost all the new coins and ICOs in the market have a very unique use or at least differ from each other in multiple ways so you can't completely deem them useless before they're actually put to test. I agree with your point that some altcoins are being dumped on the newcomers but as a newcomer, its your responsibility to do some research before you invest in anything.

I get what you're saying but newcomers are being sold lies which they believe in because the shills are everywhere. They create websites, twitter and yt account, share fake articles and everything possible, just to convince them. From their perspective, it's not that easy as "do some research before you invest in anything" because in that research they will find exactly these "traps" that seems real to them.

By the word 'research', I mean the information which is being posted about the coin/ICO by other people and not coin/ICO owners itself. If somebody invested in a coin and found out it was dumped, he would definitely make a post about it to spread awareness about the same and when you read this you will clearly decide not to invest there.

My suggestion there should be a board that will review the ICO's before it is released to public for investing.For example for Ethereum Board, Waves platform Consortium etc.  for each platform  they will used the board should review it. In this way the project is scrutinized, reviewed and evaluated for its profitability and viability.

People are so dumb, because we all wish to become rich fast and easy. Bitcoin is a promoter of such ideology, how many stories we heard about some boy who bought bitcoin five years ago and holded and now he is rich. All this shitcoins and ICOs are porazitating on such stories and peoples' wishes. I think tihs is jist going to be continued tihs way, because of there is no any seriouse control and punishment in this area.

That's obvious yes, I was trying to figure out if there is anything even possible that could be done to prevent this?

While I do agree that the market is madness right now, I'm not sure there will be much change until more structure is brought to it. I know the ideology is is all about being decentralised, but considering how people want to treat coins like stocks, eventually some sort of governance will be implemented to hold all participants accountable. If the current trend continues, this will probably lead to the governance of the crypto trading market looking very similar to the current stock market. Different exchanges, some reputable some not, rules, regulations etc.

Just my 2 cents.

They're paid shills.You know the bounty campaigns,that's how they're suppose to work.

What's wrong with the existing ones ? Btw no one forces anyone to buy coins ,it's your own choice.

You shouldn't really worry about them.Those are technically challenged traders who know nothing apart from poloniex and bittrex.

"you are called a troll or FUD spreading because everyone in crypto right now thinks that they will get rich quickly"



Guess people mistake you for a troll if you criticize without proofs or use nasty words.
I have no problem with constructive criticism, infact, I often search for criticisms before participating in any ICO. Just take it easy and be constructive.

Maybe you could make an ICO report web, to prevent shitcoins from collecting money .

ICOs are not shitcoins. If there is such a craze about it, this is not out of nothing. A great majority of ICOs end up being very profitable, and after a very little time for some of them !

And about true shitcoins, I think that does not exist anymore. I have no heard anything about it for a long time.

ico or new coin with shit dev have the same meaning to me, they are both bad, ico are good for quick buck if you know where to put your hands, but it's not always easy, they all look the same now, all smart contract copy paste, some good idea are there among this madness, like tezos and SONM, but other are to avoid, just ignore them like i do

Why do you regard those coins as shitcoins? They might end up big someday, even worth more than Bitcoin, do you know that Bitcoin was once less than a dollar?

Because only the top 5% might survive. There is 950 coins listed now on CMC and that doesn't even include the whole list. Every day some new shitcoin comes up and the same story happens all the time. To be honest, the problems are these scummy exchanges like Yobit, Coinexchange, Cryptopia... that live only off of these pump n dump coins.

Eventually the shitcoins will all die and only the ones with real usage will survive. It might take a bear market to wipe them out or it could happen organically. I think the main problem is the market is still young and doesn't know how to properly price it plus individual investors are often stupid and don't do proper research...

Everyone will shill their coins cause they don't want to lose their investments, its just human nature.

I'd put the number closer to 80% will die off....

It's a bit of 1999, when everyone wanted to add a .com behind their name, go public and raise money. The ICO's are unregulated, and so fast to promote so even worse. The way to 'stop' it, is not the answer, but hopefully, the investors in ICO's will start to do their homework. A few simple things:
1. Invest on trackrecord.
2. Look at founders.
3. Look at business plan and if they have functioning systems. Don't invest in a development project.
4. Look at eval. If an ico raise 1 million and have a float of 10% is the company worth 10 million? Can it be? Use math.  EOS for instance. 185 million raise, billion dollars in eval and they have shown nothing except a fluffed up whitepaper.

Just as a tidbit: I didn't invest in Etherum, after sitting with about 10,000 USD worth. I chose not to. Why? Buterins lack of track record, their budget was kinda silly '10 million for development' and so forth. So yeah, im strict and don't get it right, but im a conservative investor.  I also develop my own concepts, so i sink my money into my own projects, that I control, can see and truly believe in.

People like to ride the wave, investing in crypto assets is the most profitable investment now a days. I agree the scam or fake ICOs hurt the crypto image, but people have a lot of resources to investigate, even the newcomers should be responsible of their investment choices.

ICOs do need some sort of regulation though, this can't continue like this.

Yeah yeah,  they're all unique snowflakes and are beautiful and blah blah blah.  Meanwhile domino's pizza sti doesn't even accept bitcoin.  My point being that there just isnt enough demand or usage of altcoins to justify their survival.   All anyone ever does with a shitcoin is try to pump and dump it.  Period.  These 'unique features' don't mean shit if people don't use them.

And I disagree.   The volume of shitcoinage doesn't spook or disgust newcomers--they're usually the ones buying those garbage coins!

🦋❤️🦋❤️
I agree but in a decentralized utopia.... what is the best way to "regulate"?
It's crucial to research a project at a minimum...but it isn't enough to just find a topic they started ... and just because they have an "Ann thread" and a link to a semi-decent white paper... it isn't enough to bet the farm.
I say this because I have been approached in both private messages and in public threads with  request to help with a project in ICO phase or "Pre-ico". More than once I was asked to WRITE a white paper for pay.  I appreciate the offers for work however some requests are clearly from insincere or shady individuals, others have evolved into great projects that are sure to succeed. It's hard to decipher between the shit and the shine! 💩🌟

If they don't have an actual product or technology at work, this is a problem. If they just want to invent another coin
With no developers actually creating anything, this is a problem. 
I love the Waves Platform concept, Komodo is another one but the issue becomes... if anyone can create a token using a templated blockchain platform type of deal, perhaps the platforms creators (Yes, you Sasha**) should have a CLEAR warning of the risks of investing in new tokens, coins, assets or side projects ...  and it should be IMPOSSIBLE to miss or skip the warning. Perhaps in the app download, on web versions etc there should be a pop up that won't disappear unless the visitor scrolls and checks a certain box saying they have read the warning.

That's just one idea and it won't stop the brand new accounts from posting fake bounties to rile up interest.
I wish there was a way to grade the quality of an ICO or any of the new startups.
It's an ongoing, developing concern for all of us.
❤️🦋❤️🦋❤️🦋❤️

I agree with you mate.

ICOs are sprouting from everywhere like mushrooms. They are as fast to arrive as they are to die out and exit. I don't specifically know how to address this one but there should be some sort of a sifting mechanism for ICOs and altcoins. We simply can't continue like this. Altcoins are born every minute, others are outright scam, they will destroy the entire reputation of cryptocurrency.

I think it's becoming quite obvious that there is some centralization happening already, and unfortunately the more money get's in, the higher chances of that.

Really good advice! If people are going to invest in crypto like they do the traditional financial markets then the same due diligence and rationality should be applied.

I believe bitcointalk should also take a step forward and introduce some internal reviews and rankings before listing all of these coins and ICOs here. For example, everyone that wanted to post ANN, should first apply with their project and get audited by an internal team which would do at least basic checks and eliminate the obvious scammers.

It's almost impossible to keep up with all of the new posts like this.

As a newbie myself, I understand what you mean.
But I can't agree with the last part of your analysis concerning control and punishment.
I think we should sometimes remember why we are here, newcomers or not : there's also an ethical question behind all this, that can not be ignored.
It's certain that joining the crypto-currency world in 2017 with the idea of becoming rich may be a mistake. I have no moral grief against it, maybe it could work, but maybe it is also a bad calculation. Study hard and have a good degree of medicine, science, language, economics or whatever immediately useful in the real world would be a 1000 better investment, in time and/or money. 
But I don't think "Bitcoin is a promoter of such ideology". Bitcoin is from the origin, at least as I understand it, an alternative solution to the centralization of the control of the money in the opaque hands of a few banks, institutions and states. It's a real non-violent revolution, and as the mother of all crypto currencies, it's the key that permitted to enter a new world and gave hopes and perspectives to millions (...well maybe thousands, or hundred of thousands) of people to invent a new way of distributing wealthiness more equitably. Bitcoin had and has some disadvantages : main one is that it's now technically unreachable for common people. But it was not conceived this way at the beginning, it's only its "natural" evolution that lead to that situation.
That's why altcoins are useful, and can induce a more egalitarian and more democratic access to the money, by going on evolving : if I can't mine bitcoin, I'll try something else more accessible. For that, I have to rollup my sleeves to understand how it works, improve my perception and understanding, but it's not unreachable, and if you try to learn how it works, how the general ecosystem works you can try to find a place in it.
After that, maybe I can bet on which will be the useful features in the future, and make good investments, and be lucky. Or not.
 But whatever, I think there should be always new altcoins, again and again, until it's easy even for my grandma to produce money from nothing and let her use it without the banks and government trying to control her little widow allowance instead of behaving ethically with their own investments.
So "control and punishment"... made by who? who will decide and control? This is the fundamental point.
Just a bit of education and common sense would be better : make easy and abundant profit without work, knowledge or risk... It's only in fairy tales...

People who buy it will lost hes money and madness will be stoped
https://image.ibb.co/mqO1Ck/LEVELS_i.png

Icos rule, kills off all the dozey parasite noobs and leaves behind the one who believe in long term growth of crypto, Buy and die noobs, buy and die, ico, ipo, premine, ninja mine,, just the latest scammy wording, will be called something else next year

You cannot stop the ICOs Trains. Some of them are great others are good and others have no sense. That the way innovation goes.

There is nothing we can do if most of them will never ever leave the station & Some people will then realize how crazy they were to invest money in a broken train with no engine.  ;D

Absolutely not.

In no way should bitcointalk limit free speech in that way.  It's a forum, not a gateway.

This guy gets it.  Everyone listen to this guy.

even those little fish survive living off bigger fish. yes you won't become a millionaire, but you can make some money. ive lost a few times and now up a few k after 800 dollars investment. not to retire but more than a bank, and ive only been on here a few months. Don't get suckered in, there are icos with same value as coins that have years of development. you can still make profits but i stick to what i know.

i like who ever has released 'Useless Ethereum Token', still raised over 200 eth.

Then,the best way should be that people do their own search before taking any decision,since with the proliferation somewhat excessive to call it somehow then when somebody just announce a project people only venture without even checking to see if a new project seems to be viable or not,so that they do not give themselves the time needed to make a better decision,others on the other hand expect almost immediate results which is very difficult to achieve.

Not all of them is shitcoins some of them only but some of the new coins now is making a good use someday this coins someday will become like a fiat money that uses today there are a lot of fiat money that we using all over the world the coins is also like that someday

Not all ICO and alt coin are scam and shitcoin, some of them making money from ICO, but most of them are losing money, the only way to control ICO is by making regulation but that violated crypto currency is policy which is decentralized, so the best we can do is to warned them the danger of ICO and the risk of investing in alt coins

No. We can't do anything about that. There's still people falls to them no matter what you do to stop them. Just ignore them. That's their fault, not yours. Shitcoins and ICOs cannot be stop. But it's up to the investors where they invest. Research is the best way to determine what's good investments and bad investments.

While I agree with this, the system (offline) ends up supporting the stupid who make poor investment choices, costing the average taxpayer much money from welfare benefits & more.

You're right that at the moment the responsibility is solely on the investor to do their research and make a judgement. However, all of the googling and reading of whitepapers is only part of it and is only so useful. As there is no accountability on the project creators, it is quite easy for them to flat our lie and falsify their personas. Given the anonymity provided by the internet, it can be near impossible to validate the information they are providing. As such, I still believe their is a need for a governing body (it does not need to be government funded or controlled) to validate the information being put out by projects.

 And I definitely agree with you that the 'too the moon' mentality that permeates the crypto market puts a lot of pressure and unrealistic expectations on projects to provide 500% gains week after week.

Some ICO might be very sincere some might just another copycat scam, i think there is no way to control these ICO or shitcoins as no regulation existed. But most people would get smarter to avoid these, like I do after getting hyped into a ICO and saw its price crash like crazy.

I think before investing in an ICO project you have to thoroughly explore this project and who the developer is. If an ICO preliminary project does not have a clear origin then it is definitely shitcoin. If potential ICO projects will launch many campaigns to advertise their projects and will attract a lot of investor

Actually there isnt ICO or shitcoin madness. Problem is that people invests too much money into lot of projects just to get huge profits.
This isn't healthy business. People should learn about crypto or they will be punished hard.

I agree, to a certain extent.  ICO's is a way of this new economy. but many have pointed out that there are scamsters in the ICO arena, and that is also true. Scamsters is not to 'learn about crypto' but it's more a fundamental lack of due diligence and legal avenues in case they are scamsters.

My concern is that the scammy ICO's will cause issues with the valuation of the larger coins even, such as Bitcoin and ETH. The ICO's raise from small hoddlers, and then cash out = pricing collapse. When the price collapse then other investors looking for ICO's, will think they are getting a poor deal and thus stay on the sidelines until prices have been restablished.

When the IPO bubble blew up in the late 90's, it affected many companies, even some with very good and promising business ideas, and nobody could raise money at all, at any costs. I'm concerned about the overall industry, when legit, promising ICO's cant raise money and it cause the larger cryptos to collapse, we have a situation similar to that of the aftermath of the dot com's bubble blowing up - a large hangover that lasted years.

How come that the investment of the people become a problem? We are in the crypto at first place because we want a crypto currency and we hope for its success so that we can gain. So what is the problem on iCO madness? ICO is the new way of investment, ICO connects all the people in one goal of investment unlike traditional way of investments which has a lot of restrictions or barriers.

Like a previous user said. It feels a lot 1999 with .com crisis. But it all comes down to the user. The good thing is the correction currently made in the market. It is fixing in a way the ICO madness. Making it less attractive for people to enter such a boat. Some could view it as a sicking boat. But this infact maybe the way forward. To improve and fixate on the good things coming out of the blockchain.

What's make me smile is the fact that a lot of people saying that ICOs are bad that people will loose their money... are people who don't care about the fact you will loose it all. They will laugh when that happen.
The reality is that at the moment they are jealous because you are doing X10 x 20 ... x100 and they are not in the game because they are scared.

I think most new altcoins which are still using a Qt-wallet (blackcoin version) will be dead. They are just too scammy and without potential real world applications.

Yes, wallet takes up too much disk space, a lot of people who hold many coins don't like this.

Hard to know, there are many fake identities which are made to trick people and steal others money. There are too many ICOs and most of them are scammers. Last year, we have faced with many HYIP and this year, we have to face with ICO

95% of alts are scams or hype,very often people are aware.thay simply buying hype,buy lowc sell high,ico's few of ocos are worth some money.Other will be like alts,pumped dumped.Look stocks,forex,planty of shit,but pp are buying selling.Cest la vie

People were asking this question in 2014 when there was not even 100 total altcoins on coinmarketcap.  In short, the free market will price the coins accordingly. There's nothing stopping people from investing in ICOs if they want to gamble on quick profits.

With the bubble having burst, I think you'll find ICO demand is going to plummet, just like IPO demand plummets when the stock market declines.

We can use our own way of preventing that.
Even if it is just only here we can save some before they got directed to a wrong choice of coin.
Look, if they are here and they are wise newbies they would read first before getting theirself into trouble.
All we can do is warn them for a possibility of a scam coin.

Impossible, this is a free market and this is what the market wants, you may disagree with it but that is just the way it is, but if you are so sure of your predictions then take advantage of it, invest in the coins that for you are worth in the long term and get rich with them, since at some point a lot of money is going to come to those projects because of their utility.

These wallets often do POS earnings which are a great way to have an investment grow.

It may be all this new money coming in is  "stupid money" -- like the money that came in with the Dotcom bubble, but the cryptomarket before it, like say up to about 3 months ago, was smart money and the market was doing great.  

The problem is that this stupid money is reflecting on the good coins, and a lack of trust may be building with some people.  This is a bad thing.
How to stop it?  Just stick with the coins that grew from the ground up.

In a way they are not falling for anything..
They are seeing that if they play along they can probably make some money.
Few people are getting duped.
They know.

Which transforms all of crypto into a scam.

That is what it means when people create hollow fake tokens knowingly for no other purpose then to pump & dump and leave for dead.. with the ultimate loser being the sucker who believes in the "altcoin future"

How else do profits come ?
From bag holders..

So it is all fraud.
And what will stop it ?
Nothing short of mass heavy regulations stifling the process.

It's easy, by educating people and crowds. I know some people investing in a unknown ICO thousands of dollars and these people don't know anything about crypto and bitcoin/altcoin. The only reason for them to multiply their money by investing in projects. At the end, they get mad since they lost money.

The way to sift through all the garbage and find something you truly like is to ask yourself, what does this coin solve? If the coin in contention solves some problem you think is important, and it has the devs to carry it out, and the community to support it, it's worth your support, too.

it's dangerous that a lots of guys even never see the whitepaper.
and just want to got a big reward by this speculation!

The best pic yet. Congrats.

Since there is no regulation, people will have to learn the hard way. That's how the free market works... it all depends on how much people are willing to educate themselves.

I think we have to research properly about ICO i dont think ICO is happening without  any proper solution . every ICO giving solution using blockchain technologuy. we should also research on that based on existing technology . So we may not get into trap.

do you remember how many shitcoins were there at the end of 2013? they also had no purpose but yet they are still being traded. same thing will happen now. there will be new and new icos because people are still ready to pay, nobody cares about the coin specifics, everyone just wants to get some gains, cash out early before the dump and repeat

Correct, this is a forum and anyone could really freely post on what they do like. We cant do anything about those scammers and the best thing to do here we should really be careful on selecting or investing either on ICO or shitcoins. Anyone could announce their new coin and do crowdfunding and theres no way we cant stop them. Theres no solution on this one instead of gaining hatred better to ride with the flow just be sure to be wise enough.

Agree, there will be some that you will need to be careful of but it's different from the early days of bitcoin, it was all about bitcoin then and the shitcoins came by default like an unwanted appendage, now it is all about the blockchains, the ventures they are creating/problems attempting to solve and lastly the coins/tokens financing them.  Exempting bitcoin, I am a lot more confident investing in this space than I was a few years ago.

Are you sure about that? So you are saying that ICO investors are stupid, nah... You should be reading man, you have your opinion and
I have to respect it but ICOs nowadays are not the ICOs in the past, I am sure most of the ICOs are legitimate and has a long term purpose.

It is true, people who are new to bitcoin for now more negative views. Especially about the fluctuations. But on the other hand I see there are positive things when its use. Ico is enough to give a big confusion to someone who knows bitcoin. According to my suggestion is. There must be a rule or institution that really set about ico. So as to minimize the negative side of the activity.

Market is free. People invest in whatever they want and they take the consequences. The market will correct itself, either because the bad investors will run out of money or run away.

If many people make bad decision then the market as a whole may suffer, but things will be corrected with time.

Warn people that are willing to listen and have everyone else learn it the hard way. It's a free, unregulated market after all and IMO it should stay that way. Most people know its pump and dump anyway by now, so they just play the game... which is fine with me, as long as they know what they're getting into.

The market will (and is) correcting itself. People will learn their lessons. Most alts and ICOs will continue trading in low levels near obscurity. Bitcoin will move on. And some time in the future we'll have the very same hype cycle all over again...

it is no different to all the coins that came out in 2013-2014. it is just they have become more slick, and if you are connected you get mentioned in the right places.

it is a gold rush and the only winners will be the devs and a few traders, the rest might make a few quid, but most will lose something.

in the tech world any start up valued at 200-500 million would seriously have to make some big moves before the investment were pulled.

i wonder if satoshi comes out of retirement to say something about it.

Unfortunately there is no way to know for sure,or fully about whether a thing that is announced corresponds to the true purpose of the announcer in many cases it is not so and happens what you say,people make bad decision and realize too late,but what happens is that those who announce things that are not true damage the image of those who are true,and perhaps remember what is always mentioned: do not put all eggs in one basket.

Bull fucking shit.. most are delisted and long gone noob.
For example..
I had to fight like crazy over HYP and BlockNET.. and sure enough Polo delisted both.
And they were popular too.. BlockNET being the most popular coin out for a brief period.

Doge was teetering on getting delisted it was so ignored.

hey maybe try posting actual real honest info.. or STFU ?

Exactly, this is the most important aspect and one many forget, it does not matter if the website looks professional and if the customer service is great if the project does not solve anything then that project it is not worth your time and your money, there are only a handful of projects like that every year, if you decide to invest in them, you can make money, if you invest in terrible icos you will eventually lose your money.

 ;DOh wow I forgot about Hypecoin.  Yea rebranding after you buy the worthless truckcoin tokens for nothing and then changing to PoS and dunking on the noobs ... I hear blocknet is making a comeback.  Whatever happened to supernet ... Wasn't blocknet just a shitty ripoff supernet?

Per the thread title ..

I don't think anyone can, and no one wants to ..

1) No barrier to entry
2) Open source software
3) Not enough competent dev(s) to support +800 currencies  
4) No such thing as "proprietary" features
5) No Regulation
6) Endless supply of "dumb money" to fleece

Easy, easy money for people who know their way around this space

Triff

great profit interest new comer to this market, but soon the heartless market will teach the chives how from millionaires to beggars

Similar premise concept i think between BlockNET + Supernet.
..or was that SuperCoin that they posted here they wouldn't add ?
Hard to keep track..

And yeah it was a TruckCoin tale over of sorts..
I went through tons of shit over that one.
It is a key reason why i think Polo staff are stupid ass fucking noob scammers.
They let the guys spam about HYP 24/7 then scream buy buy buy then later they delisted it LOL
And guess who was pushing it ?
The Monero crew !
The very same guys who sit on Polo all year round bum buddies with staff.
I still have a ton of it logged where they kept banning me for "FUD" over that coin..
They let the whole chat box come at me trolling me with insults and when i said anything they jumped down my throat then said specifically "I deserve it"
Back then i told the mod guy he was full of shit to his fucking face and demanded an apology NOW !
He did too and i have it logged ahhahahaha  :D

They really truly are scammy as pieces of shit over at Polo.
Wondered why they added a pile of XMR markets years ago ? ya me too.. WTF ?
They say it's who you know LOL
In crypto it's about stroking each others scammer cocks for bucks.. real bucks !
All groups / little bands of scammy shit floggers..
Who get amnesia and forget about their years worth of shenanigans.

Topic ?
If i had it my way i vote.. "punch in the head"
But law is the answer.. we need half the clowns in crypto in jail.

I find it appalling that Martha Stewart was thrown in jail for Insider Trading
and half these chucklefuck frauds are STILL HERE scamming it up.

https://omeka.colorado.edu/hist4546/files/fullsize/2ac4b392772645d64cb776f10bbcd949.jpg

Oh and by the way.. some of you may get jail time too.
..got verified at an Exchanger fer teh ROI's ?
Well Google search the definition for AML law in the USA.
It specifically mentions "market Manipulation" and "Fraud"
Like the SEC investor fraud alert warning published way back in PDF form.

You idiots are too cocky  :D

I think we need an auditor that checks everything before an ICO. It would cost, but audited ICOs will gather much more money then the ones with some random team profiles and no real working product.

From what I see now very often non working projects that sound cool get much higher valuation then the ones that are real businesses with real profits.

That's why we need to do more research before putting our investment, research the team,the backgrounds and the project intentions. It's quite hard to do now but better do it and find some ico that really suits your interest so you'll understand it.

ICO are not that bad as you are depicting here. They always have got good plan behind their project and growth of the ICO. Each of them are used to develop products and services which can be used by us. The funds raised are also invested into their coins to generate valued coins and later we ourselves can trade or exchange them onto different platforms. I see complete advantages in the use of ICO and the followed coins in the market. The 95% number is way too large. I guess there should be voting poll on this thread to know exact number of people who like and dislike this idea.

FYI.Asking money as investments from the public just to get their pockets bigger is not what a good plan looks like.

Really ? How many coins do you even use IRL expect bitcoins and maybe ETH ? How many decentralized projects of the shitcoins have been implement in organizations ?

To keep it simple,ICO/altcoins are just to trade money,nothing more.