I guess it is a good thing considering that the majority of ICO's are scams these days. It will allow more legitimate Bitcoin companies to float to the surface.

Although I use and appreciate both, Bitcoin still remains king for me.

In many places in Latin America, there are no formal addresses so people use GPS coordinates or just general directions (the pink house across the street from the gas station). Although an address system would be convenient, I like the off-grid living that I cannot experience in first world nations.

Try to make the faucet only serve 1 IP per 24 hours. Ban Tor nodes, common VPNs and proxies. That may be able to help a bit.

I can imagine that many of the 'Bitcoin millionaires' have lost their wallets around 2011 to 2013. I had a wallet with hundreds back in 2012 but I sold them for chump change like a wimp.

In short, mining is profitable if you have extremely cheap subsidized electricity (like Venezuela LOL), the latest antminer and a stable internet connection. Reselling miners will also help recuperate losses.