Hi Steemians,
What are ICO's?
Initial coin offering (ICO) is an unregulated means of crowdfunding[1] . Early ICOs were for funding development of new cryptocurrency instruments, but modern ICOs serve any purpose. Generally, tokens are sold to raise money, with token existence and behavior defined by mathematical contract algorithms. Unlike an initial public offering (IPO), acquisition of the tokens is not government regulated, and may or may not grant ownership or other rights in the venture.
(Source: Wikipedia)
I was thinking to myself are ICOs killing the Market or helping it?
Initial Coin Offerings only started early this year with Ethereum leading the way. Since then it has become the most sought thing in the cryptomarket.
People have been using this to their advantage buy making shit tons and dumping on the less sophisticated traders and investors. It seems to me ICOs have created a new trend in the market and its not necessarily a good one as people have been fleeing with money, committing fraud and leaving people high and dry in this unregulated cryptoworld. The other side to this is that it drawing a lot publicity to the crypto world and is increasing growth in the market.
With all these ICO's happening has it started the road to regulation of the crypto market or will this continue to go on unchecked?
What are your thoughts on this?
Do you see ICO's as a good or bad thing for the world of crypto?
Thanks for reading please comment below.
Cryptonoobs :)