Good explanation. Articulates why (besides the threat of unknown US regulations) I have not felt motivated to participate in ICOs. I am not an expert, and I don't really trust "experts" in the crypto space. I prefer to support after a utility becomes evident to help it's success. So my "speculation" is based on evaluation of progress and thorough accounting and is tailored by actual results. Guess I wasn't meant to be a classic speculator. Thanks, Chris for articulating that. (And now I have to search for equivalent sketch pad software for Linux. That was cool!)