One of the reasons behind ethereum price drop
I am in against of ICOs since the beginning. There is no need to have an ICO in order to get the project next level. People like blockchain because of the beauty of decentralization. And ICOs are destroying the whole concept.
Today, I came across this article on Reddit.
https://np.reddit.com/r/statusim/comments/6jju26/is_status_planning_on_liquidating_eth/djeta9a/
We should stop buying the ICO tokens and give control of the market to these losers.
Can anybody explain to me why a seed startup needs $200M+ funding which is not even ready to generate revenue?
I have seen lots of open source projects getting succeed without funding. And there are still good projects which are still running fine without any sort of funding. The best example of this is Ubiq.
Invest in technology, not in the scam.
All this energy is being wasted. That $200m needed to be relocated to stopping landfills, cleaning up the water supply and decentralizing agriculture. Agorism is what is important!!! Cryptos and block-chain are a result of Anarchist trying to move humanity forward. Not a get quick rich scam. Millennials need to stand firm and push humanity forward. I wish the baby boomers and echo boomers got out of the crypto space. The boomers are the problem always want cheep money at the cost of future generation and echo boomers need to be more productive then shop and consume. I am filled with hope, but its not about ETH or the next pump and dump. Agorism! Decentralization! not Lambos and ICOs :(
I was just on that reddit thread and got here from there. I can't believe they are actually going to do this. You're right, it makes zero sense for a 14-people development team to need $200M in funding. I'm really glad I didn't invest in this ICO. I've been getting a bad taste in my mouth from all this but people keep buying into them. I even see videos about get rich quick through ICOs. It's just a prettier name for a pump-and-dump.
Do you hold any ETH? Thinking of vonverting to fiat or moving to BTC in light of all this, until everything settles down?
Yes. I believe in ETH. And I will hold it. Giving up on Ethereum is not a good move at this point according to me.
I agree with @rnkhouse. Just hold your ETH, I'd actually advise buying more and hold.
Solid blog. I was about to post a similair post. Though prices might seam inflated for now I don't think they will look like this 2, 3 years from now. I was wondering if anyone of you uses: https://www.coincheckup.com Every single coin can be analysed here based on: the team, the product, advisors, community, the business and the business model and much more. Check: https://www.coincheckup.com/coins/Ethereum#analysis For a complete Ethereum Indepth analysis.