You really think there's any sort of future in ICOs? The seem awfully faddish, and are quickly gaining the reputation for being ponzi schemes. I don't see how they can easily be connected to the value create by a company over time. If you issue more coins or engane in buybacks, then they're basically stock and I'm sure the SEC will want to ask you some questions. If you don't issue new coins over the initial set amount, then it's deflationary and lends itself to the usual pump and dump.

Moreover, I don't see how ICOs offer anything to people without a lot of disposable income. They are simply too high risk for anyone who doesn't already have quite a bit of money they can afford to lose. At best they offer a way for people who are already in the top 1/3 of income earners to speculate and find greater fools among the slightly more wealthy.

Am I missing some fundamental value of ICOs as an instrument for investment?