These ICO's are a problem... #2
It seems like a new ICO starts everyday. And todays ICO is even more promising than the ICO that started yesterday. Seemingly awesome new tech needs to be developed or else the world will come to and end and they need our money! And if we invest we will get super super rich!
The marketing of these ICO's gets better and better. There's so much money going on in these things... I wrote a meme about the ICO phase we're in the other day:
https://steemit.com/meme/@valderrama/these-ico-s-are-a-problem
Perhaps you've seen it. Perhaps you've enjoyed it.
Today I created a new one. These ICO's are a problem...
Feel free to upvote, comment and resteem. And, as always... keep up the good work and may the Steem be with you!
Good morning mate, thanks for the lols. This looks like me after holding 25 ZrCoin that I bought at $1.55 at ICO. Watched it rocket up the charts to $11.99 per coin. It has now crashed to about $1.30 per coin.
I intend to hold it long term anyway as I like the idea of synthesizing Zirconium.... Save the environment and all that. But even I would have taken at least 30% off the table if I could have sold the bloody things.
High risk - high reward. You should never really have more than 5-10% of your total investment budgets in ICO's in my opinion.
Cheers,
Fish
Excellent advise on having a strict gameplan like never having more than 5 to 10% invested in ICO's.
I only invested in 1 ICO up until now and that was Wagerr. I'm curious to see where that is headed... hope they'll deliver soon.
Glad you LOL'ed. Did you happen to catch the poem i wrote? ;)
Cheers mate.
Great post! Thank you for the info. Upvoted and followed you.
Hahahaha! I can definitely see why you shared this post on my article about Bitquence (https://steemit.com/cryptocurrency/@ebothegrateful/crypto-ico-news-bitquence-token-crowdsale-hits-first-major-milestone-today) ... I see the whole ICO space just as I see their equity sisters in IPOs although there's a lot more proof of concept and market/product match and even just longer track records with most companies that IPO. But, there are a ton of crappy IPOs that come out and are traded over the counter and people speculate and get burned in those all day. In my opinion, it just comes down to the underlying market need or problem being solved and if there's real market demand behind the proposed solution. Then it comes down to the Team and management's ability to execute as needed to bring this solution to market and scale. I always tell people to stay with the proven coins unless you have the stomach to go the ico route, and that due diligence, due diligence, and even more due diligence is a must!
If ICO continues to explode, it will devalue the cryptocurrency world. Anyway, 3 Things To Think About Before Investing In An ICO.
I totally agree with you on this. There should be some regulations to take away a huge part of the risk...