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RE: Costs to launch an ICO
I’m all in favour of opening up the asset class to retail investors if they accept the risk, but Most ICOs are not investments. An investment implies you give a company money with an expectation of a return and most ICOs don’t even talk about a mechanism for this. Traditional VC investors own large parts of the company they invest in. If they fail they lose the lot but if they succeed they make s killing. Most ICOs issue worthless tokens which entitle you to nothing. That is my issue. Some are better than others agreed but the vast majority could turn into multi billion dollar companies and return nothing to ICO token holders.
Fair points all around @grizgal. My post (https://steemit.com/ico/@quantalysus/crypto-files-the-ico-paradox) dives into topic to some degree. Ultimately what is the business model after raising funds from an ICO. Presumably, it's to build a product or network that returns value to said community. Businesses have long measured value in the form of a financial return. Crypto assets should have a very similar expectation of return. Sia Coin actually has a dual token structure. One is a utility token that is meant to have an attractive price to compete with it's centralized competitors and another that entitles one to financial gains (fiat and crypto transaction fees alike). I think the dual token structure makes more sense than a utility token that also has an expectation of financial returns. The two traits are incompatible in my view.