Yes I am bounty whoring for matchpool, I don't see a problem with those words isn't that what it's called? I don't think all ICO's are inherently scams, some certainly are, chronobank struck me as a flawed project trying to reinvent money in an overly complicated way. I don't intend to dump anything I receive from bounty whoring, it just seems to me a good way to gather some extra tokens from a project I had planned on supporting anyway. At some point I will sell my matchpool tokens but only after they've established their product on the market and even then I probably won't sell everything. In my mind investing in ICOs is like developing a stock portfolio. Matchpool has a good concept, dating and meetups are both fun and useful and Dapps are the future, so I whore myself out a little for some extra value in my ICO portfolio.
Thank you for honesty. I like your approach to the ICO participating. Only a few people understand what they are doing when participating in the bounty programs. The vast majority of the bounty programs participants don't care about the projects they 'support' and don't know anything about them. They only care about the rewards.
I think one should participate in a bounty program if he/she truly believes in the project potential and is ready to really support it.
But purchasing ICO tokens is not like investing usually (some exclusions exist however). I write about the tokens that serve as a payment mean inside a project (I will call them 'Simple tokens'). These tokens don't let you receive the project's profit share.
That's why it's not like investing and should not be treated like investing.
Investing is putting money into a business that can generate profit AND getting the right to receive this business profit share.You can get a profit from the Simple tokens once only - when you sell them. That's all. You can also trade them, buy low, sell high, but it's trading, not investing.
This ICO approach is extra convenient for the ICO creators. They receive super cheap money with no responsibilities at all. They don't share their profits with ICO participants. They just sell a product and people should expect its price will increase.
So the profit is generated not by the business but by another people who will purchase the same tokens at a later time. Similar to the pyramid scheme, not exactly but close much.
Along with this, the ICO creators are usually so greedy that they leave a huge portion of the Simple tokens for themselves! Who pays for them? Correct, ICO participants. Do you think the team members will use their tokens to pay for the project services? I doubt that. They will sell their tokens on the market and they won't care about the tokens price after that point.
The Simple tokens price will increase with time if a project is successful (and no more tokens are issued or alternative payment options inside the project appear). But no business can grow limitlessly. There will be a saturation, while the project will still be earning profits. Unfortunately, ICO participants are not entitled for that profits.
The above text is about business projects, not about pure coins.
