Vitalik Buterin: 90% of ICOs will FAIL. Really?
Comments made by Vitalik Buterin have been hitting the headlines lately after he said that 90% of all token projects launching on the Ethereum platform would ultimately fail to provide any returns for investors.
But is this an accurate statement? That's what I'll be addressing in this video.
Andreas Antonopoulos' comment on ICOs:
"I think one day, in the distance future, the possibilty of being able to fund new initiatives and create ventures on a global basis without the traditional limitations is going to open opportunites for companies that have never had opportunities before. The problem is that first investors will have to run the gauntlet and swim in these shark invested waters full of these unscrupulous people, who are taking their sh** coin, and making an initial offering. Whose primary purpose is not to add funding for a worth while project... its not to generate value or take growth to a next level for something that is already worth while. They smell money in the water and they come like sharks. I would say at least 95% of the ICOs out there have no basis fundamentals or anything like that."
I think 90% is super optimistic. I think 99% will fail and of the remaining 1% only 50% will be incredibly successful. There are currently so many ICO's and so much more to come. The 50% of the 1% will most probably be like a 50 ICO's if there ends up being a total of 10000 ICOs which at the current rate of ICOs is most probably not over exaggerated for the long term.
#obligatory
Vitalik legend!!
Makes sense because every time I turn around there's another huge ico wanting me to invest with it. Most of them I feel like have no purpose or there's already some other coin doing the same thing.
nice bro, all the best. I hoop you upvote and following me.thanks.
Man said "Fail" and that is it
It is clear that the number of tokens will continue to grow exceptionally. Taking into account that the increase of the total population that uses crypto or invests in crypto does not grow in the same way. The result will be that many ICOs will fail.
Common sense leads me to share the same opinion as Vitalik Buterin.
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This comment seems historically accurate. 90% of the dot.com companies failed as well. The crypto mania will likewise produce great innovative companies like apple, amazon and, expedia, paypal etc. at the expense of 90% of all cyrpto start ups.