You know it, I know it, everybody knows it. Blockchain projects as they are are pure shit. Hot air. Limited usability or gamed from the inside. We hear about buzzwords, valuations in the billions, people FOMOing for ridiculous projects because "it will pump". Who seriously thinks this is in any way a healthy environment?
Anybody can make an ico. All that money that were supposed to flow in good projects are now spread across the board in scams while legit projects suffer. This is not even anarchy. This is pute gambling. Some don't even bother to write a white paper. No wonder the bubble popped.
It is my guess that maybe 10 coins from the top 100 will survive the blockchain revolution. Part of the reason is that most of these guys are already multimillionaires. They don't give a shit about developing anything than hype. Hungry developers and Venture Capitalists will tap in with fresh money and perhaps create something of use — and not just attach fancy words in an existing company or idea just because crypto is the new thing. Heck, most serious VC's are just flipping icos.
We need REKTage if we are to move healthy from here. We need serious capitulation. And it is coming. The bleed will be slow but hopeful. Perfect to rape gamblers on the ratio and keep them longing for more.