The curse and blessing of BAT ICO, let's do the math
We heard the news. BAT (Basic Attention Token) ICO sold out in less than a minute.
An equivalent of US$ 35 Million changing hands within seconds and many more were not even served. Is that how a bubble looks like? Yes and now. It could be what we would call a crypto bubble. On the other hand, when a new technology sees the breakthrough into mass market acceptance, then any price is a good price. The rise or fall of your investment decision would not anymore be determined by the pure luck if the bubble bursts or not. The technology came to the light, it is increasingly used, hence initial growth ought to be exponential.
However, where we can see a bubble is the number of new projects. It's like in the early 2000's when anyone who knew how a computer looked like and was able to place it in a garage received millions in venture capital. Many people bet on the right horse and are wealthy today. Many more saw their investment going down the drain, as the project they supported was not a realistic business model. We will see the same happening again.
How is it with BAT? The initial interest is mind-blowing for sure. Personally, I don't think we will see another story like Google Chrome, which has a market share of 50-75%, depending on which website's statistics one looks at). More likely another Firefox story (same co-founder with BAT, wink). With a market share of 6-16%. In a multi-Billion $ market that's actually not quite bad. In other words, investing in BAT will most likely not make you poor – but not filthy rich either. Just my 2c.
Out of curiosity I did some math.
6,400 token for one ETH
Price of 1 ETH currently: $ 230
Price for 1 token at ICO: $ 0.0359
With BAT currently being traded at liqui.io and BTER at around $ 0.18 – 5 times the ICO price – that’s heck of a profit for one day. So, let’s call this ICO a pure sweepstake prize draw. Few got lucky (blessing), the rest moves on (curse).
What is your opinion on BAT and which other ICO’s would you watch that have a promising business model?
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yayy :D