"An initial coin offering is a means of crowdfunding the release of a new cryptocurrency. Generally, tokens for the new cryptocurrency are sold to raise money for technical development before the cryptocurrency is released." Exactly, I think its for funding the producers and developers pockets and maybe yes some funds will go to "technical development".
Ever notice when an ICO launches on an exchange it takes a dip and usually goes down to shit. That's because the producers and the developers are selling the crap out of the coin to make a profit and don't give shit where the coin is going. Investors , speculators or even you and I don't sell unless it goes up to make a profit aren't we in it for profit, a gain on investment or so I thought.
I have brought into ICOs in the past and they all go down in value when they hit the exchanges. WHY!!!! So if you are like me trying to gain on investment the game has changed. Dont buy as I have renamed them "Instant Crap Offerings" unless you got a few thousand dollars laying around somewhere to buy in and you might make some profit when it hits the exchange by selling immediately.
If a coin gets your attention it's best you wait till its on the exchange a few weeks before getting any. Look at BAT's (Basic Attention Token) ICO sold out in seconds, came in at around .30c and plummeted down to .17c now it's time to buy. Maybe it might go up maybe it wont but you can't lose from the bottom up or so I think.
Any thoughts or enlightenment please comment.