The SEC already issued a warning letter on ICOs, so it's natural that other financial regulators take a similar stance. I would not be surprised to see similar attitudes adopted towards in ICOs in Europe and Canada. Most of these ICOs are scams anyways.
But how do you separate the legit ones from the scams? Because many of the biggest scams look and appear legit to ordinary investors. There is also a very real possibility that most ICOs will turn out to be complete scams one way or another.
The big question is this: what motivation is there for devs to actually see the project through once they get the cash upfront?
And some of these ICOs are raising more money than they would ever need. It's a pure cash grab. Just look at the Filecoin ICO of $200 million. It's pure BS. What they hell do they need $200 mil for?
The idea that NEO will fail because ICOs aren't around is ridiculous. Litecoin and Bitcoin never had ICOs. ICOs are just bullshit offerings to suck up insane money from unsuspecting idiots that buy hook, line, and sinker into their generated hype cycles. The crypto market would be far better off and far more stable without ICOs
The SEC already issued a warning letter on ICOs, so it's natural that other financial regulators take a similar stance. I would not be surprised to see similar attitudes adopted towards in ICOs in Europe and Canada. Most of these ICOs are scams anyways.
So the SEC will allow ICOs with oversight (accredited investors only, etc) but China may ban them altogether is an entire different story.
I agree many ICOs are scams but many are perfectly legit. Oversight is needed. But banning them is extreme.
But how do you separate the legit ones from the scams? Because many of the biggest scams look and appear legit to ordinary investors. There is also a very real possibility that most ICOs will turn out to be complete scams one way or another.
The big question is this: what motivation is there for devs to actually see the project through once they get the cash upfront?
And some of these ICOs are raising more money than they would ever need. It's a pure cash grab. Just look at the Filecoin ICO of $200 million. It's pure BS. What they hell do they need $200 mil for?
5000 soon.You have to love it! Ripple seems so hard to get.
I use Bittrex.com to purchase Ripple. Also available on the exchange Bitso.com (Mexico) - those are the two I use.
That's a great news. thanks for sharing.
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The idea that NEO will fail because ICOs aren't around is ridiculous. Litecoin and Bitcoin never had ICOs. ICOs are just bullshit offerings to suck up insane money from unsuspecting idiots that buy hook, line, and sinker into their generated hype cycles. The crypto market would be far better off and far more stable without ICOs
Keep smiling, reading, writing and voting!!!
thank you for sharing
@mannyfig1956
Mmmhhh... have some NEO too... let's see what happens