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RE: ICO craze over? SEC Rules Digital Tokens are Securities
Definitely agree with the Wild West sentiment haha.
I'm of the opinion that this ruling should generally be good for the longevity and institutional adoption of Ethereum.
I say that because if ICOs continued to operate with very little accountability, we would inevitably see an increasing number of catastrophes in the ICO space (e.g. Veritaseum hack, CoinDash hack, etc.) - which can significantly hurt investor confidence in the Ethereum platform.
With all that being said though, it's a bittersweet moment because the Wild West mentality is really what makes crypto so amazing... and profitable - we're all pioneers in a completely brand new space.
I guess that's just part of growing up. 😢
It's a bubble destine to burst. The day people realized these companies aren't coming to fruition with their promises you will see coins crash hard. Since this isn't the stock market, there is no plug they pull, like they did with Facebook after it's IPO in 2012 where it tanked more than 30% in one day and they pulled the plug.
Yeah, I totally agree. You have to figure an overwhelming number of them will fail - I mean just look at the statistics surrounding new businesses - over 50% of them fail within the first four years. And they aren't in a space that's nearly as violent as crypto.
And considering how much money has been thrown at these ICOs and their subsequent trading - it's going to a significant burst.
Very true, but that time is way down the line, crypto's are just getting mainstream, so it's going to go up hard and fast and then plummet.