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RE: FABRIC Token ICO Ongoing - Raises $1 Mil First Day
So my question here is: why no information on what this project actually aims at? what can this token be used for ?
The information you present in this article is only about the funding and token sale. To estimate the usefullness and thus longterm posible value of a token, what the project goals and function is, is what qounts. Isnt it?
Yes, its best if there is a limit on the presale, then there is a after presale interest in buying if the goal is reached with good margins.
Yeah, exactly. Fundamentally, I wouldn't care for what this project offers. But whether a project is good, is not what drives the ICO market. That other investors believe the project is good means they'll likely keep buying it when its on exchanges.
Most of the top 100 cryptocurrencies are fundamentally useless. When I compare the "project goal" here with the top 100, what they are offering is far more interesting than many things in the top 100. Yet, will the market value it because it's more interesting? Not necessarily.
So when dealing with an irrational market, it's better to gauge a token sale against how we think the market will perceive and trade the coin... not the fundamentals of the project itself. I do personally prefer projects where they have fundamental drivers and technology, like EOS. However, very few projects in crypto fall into this category. Last I counted there were 7 projects out of hundreds which had fundamental factors to them besides just the irrational crypto market at work. Things outside the fundamental category, have to be analyzed by how we think the market will trade them.
So what the project offers is supposedly easier smart contracting for ETH. Drag and drop smart contracting, which hopefully makes Ethereum easier to use for businesses, so there is less risk in doing smart contracts. Yet fundamentally, this is pointless because I wouldn't presume the market is going to trade it based on the actual usefulness of what is being offered here. Practically speaking, the project in my book is worth zero along with most all of cryptocurrency.
I stopped valuing cryptocurrency by practical use case situations for 99% of all projects out there. My favorite two examples are DigiByte and ReddCoin. Useless projects worth over 100 mil.
"....Last I counted there were 7 projects out of hundreds which had fundamental factors to them besides just the irrational crypto market at work". Two of them are EOS and STEEM i guess, sooo which ones are the others my man?? :)
Bitcoin, Ripple, Ethereum, Monero, Tether
OMG!!! wow! thats a shocker hahah.....ripple and tether, i didnt see that coming...., you left me thinking haha......why(?)
And if you watched any of my ICO Class 101 videos, this type of ICO falls into the "Hype" scenario. Meaning it is favored to sell when it spikes after the ICO trades on exchanges. Most ICO's fall into this category. These ICO's can be profitable, especially when there is a hard cap on funds raised.
But the profit is not made because they're wild success cases where people utilize the product, the projects are successes for investors because money flows into crypto investments irrationally, and some may very well flow into FABRIC driving the token prices higher, if it gets decent exchange adoption.
Interesting, so it falls into what @cryptovestor calls Proof of stupidity then. ICO that looks to get interest to gein value after launch. even if there isnt any actual value. So you get in on the ICO then sell when it launches i guess.