I just wanted to write a short post video about this whole ICO madness and I’m gonna preface this by saying of course, you're free to do whatever the hell you want with your own money but if it was up to me I just wouldn't even bother investing in any of these ICOs anytime soon. There's so much ridiculous stupidity and greed floating around in this ICO space at the moment. The amount of money that these companies are getting for like a white paper and a couple lines of code, it's just absurd.
In the “Real World”, (if you could call it that) you'd never see such gross ridiculous valuations for companies that barely even exist yet. And you've got people investing in them who for the most part, probably 90% I'd say, they're only in it to put money in the pre-sale, pre-ICO and will just sell it off as soon as it hits the market. Everyone's doing it. So that a sense it’s just like a Ponzi scheme and even if you invest in something that you believe in, most of the people don't believe in it for those reasons and so they're just going to sell off, you're going to lose a shit ton of money. It's just nuts!
For me as someone who's so passionate about this crypto space in general, especially Ethereum, I have most of my money in Ethereum. I feel kind of dirty almost or just kind of embarrassed that I'm so much of a part of this whole thing in a way. And that's another thing as well. Since most of these ICOs are launching on the Ethereum platform or protocol, it's just nuts to me that people would rather put a ton of money into these ICOs than Ethereum. This is like the dot-com bubble except the difference now is that with Ethereum versus is the ICOs, you actually have a chance to invest in kind of the Internet itself as it existed in the 1990s instead of just these lots of ridiculously valued companies that blew up and eventually just popped. In 2017 and this Web 3.0 birth, we actually have the opportunity to invest in the Internet itself which people weren't able to do back in the late 90s with this dot-com bubble.
And so I think people are just, you know. I do get it completely that if you just put a little bit of money into any pf these ICOs and chances are they might go out the turn and you can make some bit of profit from that. I get it! But at the same time, it's just like you look at the kind of risk to reward and to me it’s just still nuts.
Not especially where the price Ethereum is right now. (At the time of writing this post) We've already had a kind of huge correction/crash, if you want to call it, you can get Ethereum or Ether at a decent price and so again if you can choose between ether right now, they're about $200 USD, versus an untested ICO with a white paper and a couple lines of code, to me they are just not even close.
By investing in ETH you're having like a mini index fund of your own where you're betting on. Just a handful of these ICOs will eventually succeed in which I'm sure some of them well, some of them will be changing and all this companies that are among the likes of the Amazons and Facebook's of this world. And so you can benefit from that with having to do a kind of big roulette wheel choosing. You can do that with Ethereum. So again, I just, it doesn't make sense to me.
I guess I am being a little bit of hypocrite in this because back in several months ago I did invest in some of those ICOs. I thought they looked interesting. I wanted to participate in it for the first time just to see what it was like and I can say from personal experience those turned out to be the wrong decisions. I think I put a bout 1 ETH in each one of them back at the time when Ethereum was 50 USD and now if you fast-forward. you know price of one ether even after a major correction/crash is 200+ USD so thats 4 times my initial investment that I could have made by just holding on to that ether verses these ICOs that are nowhere near that.
Well, so speaking from my own personal experience and thoughts around this market, in general, to me I would not recommend you to even bother with these ICOs for the time being. Get some good value ETH and invest in other good tested projects they're out there right now like Litecoin, even Bitcoin.
Let me know what you think in the comment section below whether you're going to continue to invest in IOCs or not. Whether they've paid off you in the past. Let me know your thoughts and give this post an upvote if you enjoyed it and I'll be back for more posts very soon.
Until then, Its me Antimatter. Signing off.
Peace!