If the tezos ICO is as feverish as BAT was then it could end up selling insane amounts and leave no upside for anybody who invests. Brace selling out its token in under a minute is insane when nobody is actually even using this browser. Now people are expected to do what, go on a crypto exchange and send in bitcoin to buy tokens from whales just to browse the internet with an adBlocker? This is beyond idiotic.
I was bullish on Tezos in the beginning but I'm thinking this uncapped ICO is a recipe for us to get bent over and screwed.
I agree, BAT ICO seems insane. A few (preferenced? insiders?) buyers who got in for the 24 seconds that the ICO sale was reportedly open for seems to imply obvious whales who now will own this coin to the exclusion of the rest of us, unless we pay whatever pricelevel they now set in the regular aftermarket. (How Whales Get Richer Off You.)
On the other hand, when a Monet or Van Gogh painting sells for $100M++, the price seems insane but it's arguably a good spillover influence on the rest of the art market: it educates lazy outsiders/buyers as to what the value now is of an asset/market. Musical chairs for a while, then --> bag holders!
Part of me thinks: let the ICO's of BAT, Tezos, and other new coins go crazy now, it can't help but create good press in Main Street where the mums and dads will hear of this and be forced to bestir themselves.
Wiser hands will wait for the current mania to quieten down in the next 3-6-12 months (risky assumption, I know, but manias and bubbles do tend to exhibit periodic surge behaviour), where we can then step in to buy the better coins during their dormancy, ready for the next breakout mania after that.
Did someone in the late 1990's once say "irrational exuberance"?