ICO's are most definitely as bad as OTC "Pink Sheet" stocks.

The same misguided enthusiasm is there, the same kind of hype and misdirection. Every single one has the "Web 2.0" site, with multi-parallax images and simplistic founder statements.

You could spin a new crypto-coin out of nothing, right now, and start raking in the bucks - all it takes is a moderately-convincing bit of ad-copy and a white paper that has new "technical" terms scattered around, including the omnipresent "Blockchain".

Many people will lose their entire savings in these schemes.

I remember trading a penny stock just for laughs, and seeing people posting about mortgaging the house for cash to pump into the issue. I knew it had zero future, I was there for a 1 or 2 day trade.

These people were convinced it was the "golden ticket" to riches.

ICO's sound the same, and I would avoid most of them like the plague. Even the ones I would bother trading I wouldn't hold very long.