I wrote about that over two months ago because i made my first steps in the cryptoworld a month before my post and that beside the amazing technology the ICO frenzy and Trash Coins caught my attention in terms of psychology. All that pumping and dumping, one example what was funny and fatal at the same time, Chaincoin i followed and saw the rise and the fall, the fever of people and also the bad awakening after.. bet on their houses partly.. ridiculous.

I think Wales is absolutely right in his recognition of the markets sentiment, not that ICO's or token sales are generally scams. Each day new ICO's popping out of thin air with catchy marketing messages.. how much money in presale they made, that time is running out, the bonus is decreasing.. my feeling is that development in ICO market now is a super hype which a serious investor should aware of because that is no serious investing just give money to gamblers in many cases. Greedy people are trying everything to use the hype to their own favor with reckless behaviour. I think there is a small percentage of really good projects, but to sort them out it's a giants task if you do that not full time. Think of how easy it is today to make millions with a good designed website, a so called "whitepaper", without a working product, possible profit share. It's a whole new speculative business often with lacking transparency and sneaky lures. That's also the issue for serious projects who get not the trust they deserve, but there are ways to build trust like TenX demonstrated.