On one hand, ICOs are taking precious market cap from what could be invested into Bitcoin.
They're taking focus away from those who have genuine innovation, yet are totally ignored.
On the other, they bring a whole new dimension to crypto that we have never seen before.
It is just such a shame they are almost always pump-and-dump scams.
It is just such a shame they are almost always pump-and-dump scams.
Because those of us who want to build a long-term viable project, do not want to be involved with issuing/trading/promoting illegal MLM scams and illegal investment securities.
Regulators are going to need to send a lot of people to jail to get sanity back into crypto R&D. Yet I suspect TPTB are quite satisfied with allowing crypto to destroy itself with scams and render it's participants in jail after the global economic meltdown 2020ish.
If government doesn't get any profit from it, than it's a SCAM.
Yet regardless of whether securities regulation is dumb or beneficial, the fact is that those developers who are serious will not issue ICOs because of the legal uncertainty, thus predominantly the only ones issuing ICOs are scammers. Even if some few Ethereum, NEO, or Tezos developers might be sincere and skilled, the ones issuing the tokens for them are either well connected with the parasites you despise, else they have a criminal mindset and disregard securities regulation risk not only for themselves but also for all those who trade the tokens and for the future of the token itself.
Thus, iCOs are not helping to achieve any goal of defeating the parasites who control the governments, and instead of providing incrimination fuel for them to take control in the future.