I think you are right about that these LISK, JINN, IOTA fraudsters. As you said they ride the BTC and ETH waves. The building stone of their business model is the idiocy of their uninformed and uneducated supporters.

I noticed that Elastic Coin project and I think the objective of the project is fine. Generally I like projects which objective is to deliver a real solution in a niche area. I even liked to theme of the AI project of that Joe guy until it turned out the fat wanker is a truly asshole con artist which was actually a quick realization once his shills and sockpuppets shown up in the thread (I did lots of work on AI software when I was young and I was happy to see someone try something in that field, but that coin was a blatant scam).
I think projects like Skycoin or Ethereum - regardless whether it yield "ROI" or not - could deliver a socially important solution, and therefore they worth some crowdfunding support.
I noticed the SIA sign in your signature, their use case worth the effort as well. Personally I don't think a decentralized file system is a viable technology proposition, never mind that it is viable business proposition, because I think there is no monetization route for decentralized file system solutions. Having said that, the viability of the idea must be validated and therefore, it's great the SIA guys try to do that. It could be the case with that Elastic Coin as well. The project identifies a real world use case and then aims to provide a solution for it. A niche area use case that relates to a valid information technology challenge. The keyword is the niche, as a start-up has a better chance to succeed by creating solution for a niche, unoccupied business place instead of go against multibillion dollar, well established companies, which is what the LISK fraudsters try to accomplish by saying we will create an ecosystem for application development (DAP) and then the world will magically start using it. In the meantime their USP is that the pathetic thing is written in fucking Nodejs, so the shills go around saying that bohooooo it is written in Nodejs, it is revolutionary (any rational individual can see what a fucking nonsense the whole LISK proposition is).

To get to the point about Elastic Coin, the issue is the unregulated crowd funding. Again, they collect money from the wannabe rich greedy users and from the usual idiots of this microcosmos prior delivering the solution. So they create a speculative asset in the first place instead of creating a solution. The usual argument is, ohhhhh they need financial resource from the idiots to develop the software. I disagree with that. Firstly, there are notable solutions which were delivered without milking the idiots and scamming the public (the solutions of Linus Torvalds or Satoshi Nakamoto comes to mind mind as such), secondly if you need fund then go on the regulated avenues using VC and angel investors or regulated crowdfunding platforms which all provides the investors with some kind of protection. If they still want to do the crowdfunding here, then they must have reputable users on board to oversee the allocation of the fund and ensure the fund is strictly used for technology development.