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I have also been disappointed in the number of outrageous ICOs not based in reality, and the rampant abuse of crypto as a quick money grab scheme.

With this post, I was trying to gauge whether or not an ICO2 would be accepted by the community. Seems that it's fairly acceptable, though I'd love to hear more people weigh in on this.

If the blockchain project I am working with does not meet its fundraising goal, perhaps we will announce an [ICO2] to come clean about our prior attempt and how we have updated our strategy since

"Good ideas and solid fundamentals don't experience lightning fast growth. But that's what assets like Bitcoin and Ethereum brought to the table to start, and they took years to grow. That's how real good ideas and solid fundamentals grow. Slowly, but surely, long term, with occasional hype and correction as they grow. Bullsh*t, on the other hand, explodes on the whims of emotion, and quickly returns to nothingness, perhaps to briefly do it again months or years later."

Now - we all know that the I is for Initial. But what are your thoughts on relaunching an ICO, given not enough interest generated the first time around? 'Good ideas with strong fundamentals' can be completely sound as far as businesses go, but they may not do as well as scamcoin marketing.

It's no secret that there are many scam ICOs. These ICOs tend to exploit the novelty of blockchain, using flashy advertising and deceptive jargon to entice potential investors who are swept up in the blockchain hype. Often, their business models are unrealistic and poorly conceived. Many altcoin investors will not see their money again!

Of course, this is not to say that there are no good ICOs. The point is that crypto culture and infrastructure is still in its infancy.

Some interesting and thought-provoking predictions I have heard about the development of crypto:

National governments will soon issue their own e-currencies. China will allow massive companies such as Tencent to issue their own tokens. Crypto culture will continue to grow, with perhaps even more investors being duped by scam ICOs, but with old-school finance guys bringing their expertise into the crypto world and consolidating new infrastructure such as wholesale investment and brokers.

Cryptocurrencies will soon become dominated by major players from the old fiat world. New players entering as blockchain application startups will use cryptotokens instead — a way of signaling a less grandiose 'currency' vision (the same vision that allows for ICO scamming), and a more realistic 'platform use' utility.

So,

Is the Crypto ecology is still in its early stages? How do you think it will mature?

 

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