Re:Half of ICOs Die Within Four Months After Token Sales Fin...
by vkou on Monday July 09, 2018 @06:35PM
(#17493958)
Many of them are investing because there is money to be made over the course of a pump and dump.
They don't actually want any pre-order tokens that entitle them to 2 GB of storage on a distributed crypto-file-system, or whatever the ICO promises.
Think ticket scalping, except that the tickets are for a concert that may or may not happen. (Because the band hasn't actually written any songs, found a drummer, rehearsed anything, rented a venue, or even bought any instruments.)
They don't actually want any pre-order tokens that entitle them to 2 GB of storage on a distributed crypto-file-system, or whatever the ICO promises.
Think ticket scalping, except that the tickets are for a concert that may or may not happen. (Because the band hasn't actually written any songs, found a drummer, rehearsed anything, rented a venue, or even bought any instruments.)