Acne Buterin: I’m glad that the hype over the ICO ended

2017 was remembered not only the rapid growth of the prices of Bitcoin. A huge impact on the industry has had a boom of popularity ICO — IPO coins. During bullrun even little-known projects could collect hundreds of millions of dollars on hype, promising “to solve real-world problems”.The promises have remained on paper, many projects could not even survive the year 2018.

Boom ICO is also associated with the rise and fall of the price of Ethereum. Most startups have based their developments on the blockchain from Vitalik Buterin. Yesterday Buterin visited scriptevent ETHWaterloo 2, where he shared his views on the hysteria around crowdfunding on the blockchain.

It’s not so simple

During the discussion of industry issues Vitalik asked a question about whether it was the fall of the ICO good or bad event for the industry of decentralized technologies. Buterin said so.

I think this question can be interpreted in two ways. First — I am glad that attention to ICO generally decreased. Second — I fully approve of the circumstances around the pressure of the financial regulators.

However, the pursuit of the regulators Scam in the industry has given rise to new challenges. For example, now many people ICO is associated with something bad and unreliable. But they are quite willing to invest in a coin that at the early stage investing venture capital funds in order to sell it to regular investors in a hundred times more expensive.

Now considered a “normal” launch private phase of the sales coin the rich. A year and a half will start the official round of sale of the same coin, but for ordinary investors. They are ready to buy it a hundred times more expensive than the amount for which it was sold the funds.

Acne Buterin. Source: Bloomchain

ICO began what was to be said Buterin.

It’s like the blockchain among all the other things that the ICO involves the complete decentralization and the minimization of trust to a third party. But in fact, the whole point of ICO is embedded in a single sentence. “Hello, I’m the King and you must give me a hundred million dollars, because you trust me and I will make this cryptoprocta good.”

According to him, the idea of crowdfunding on the blockchain does not match the ideals of decentralized technologies.

Today, the popularity of ICO dipped considerably, but the risk of losing money on the investment in crypto currencies is still there. Recall, recognise a safe project to invest easy. As a minimum you need that coin was at least one full cycle of growth and decline. Also it should respond to the movement of Bitcoin, not just falling down. Read more this guide you can discover in this article.

And you managed to earn money for the ICO? Share your story in our cryptodata millionaires!

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