I started to get a funny feeling about ICO's (Initial Coin Offerings) more than 6 months ago. And now my spider sense is pretty much off the charts. The more I study it, the flakier it gets.
There is a certain mania going on in ICO's, and an enormous pile of money is flowing into uncharted territory. My bold prediction is that there will be a number of ICO's that don't turn out as advertised, and then the investors will lose 10's of millions of dollars, and the bottom will fall out of the ICO market.
Further, this will affect the price for actual functional tokens like Dash and Bitcoin and Ether, and possibly everything in the cryptoverse. This will be somewhat unfair, but the universe and the market don't play by fair rules.
And finally, after a time, people will realize that actual cryptocurrencies with real world uses are a very different product than ICO's, and the price will rebound nicely for Dash and Bitcoin and Ether and all the rest of the tokens with valid use cases.
This is not a particularly difficult prediction, and lots of people who have studied the ICO market have come to similar conclusions. But what shall we do about it?
What follows here is not investing advice. I'm not your broker. I'm not anybody's broker or financial adviser. Do your own due diligence. Don't invest ANY money in crypto that cannot afford to lose. Got it?
I personally am going to scrimp and save and pile up all the fiat I can lay my hands on, and when the ICO bubble pops, and people are running around with their hair on fire selling their crypto hard and fast, I will be buying crypto.
Buy when there's blood running in the streets.
You have been warned.
You have time to prepare.
Be ready. Some will be taken by surprise. You have no excuse.
Anybody can -predict- the future, but I will be right about it.
There is a certain mania going on in ICO's, and an enormous pile of money is flowing into uncharted territory. My bold prediction is that there will be a number of ICO's that don't turn out as advertised, and then the investors will lose 10's of millions of dollars, and the bottom will fall out of the ICO market.
Further, this will affect the price for actual functional tokens like Dash and Bitcoin and Ether, and possibly everything in the cryptoverse. This will be somewhat unfair, but the universe and the market don't play by fair rules.
And finally, after a time, people will realize that actual cryptocurrencies with real world uses are a very different product than ICO's, and the price will rebound nicely for Dash and Bitcoin and Ether and all the rest of the tokens with valid use cases.
This is not a particularly difficult prediction, and lots of people who have studied the ICO market have come to similar conclusions. But what shall we do about it?
What follows here is not investing advice. I'm not your broker. I'm not anybody's broker or financial adviser. Do your own due diligence. Don't invest ANY money in crypto that cannot afford to lose. Got it?
I personally am going to scrimp and save and pile up all the fiat I can lay my hands on, and when the ICO bubble pops, and people are running around with their hair on fire selling their crypto hard and fast, I will be buying crypto.
Buy when there's blood running in the streets.
You have been warned.
You have time to prepare.
Be ready. Some will be taken by surprise. You have no excuse.
Anybody can -predict- the future, but I will be right about it.
