Re: Don't be afraid of ICOs
What are your thoughts on this?
Study
the facts.
Be afraid of every token sale which is not locked on the blockchain for 3 years before trading (or unless its a registered security and you only expect to sell it to other investors on registered exchanges). Your token will likely get delisted
eventually from exchanges (unless it can be registered which is not the case for all the current token sales). Legal and criminal implications for you personally possibly for illegal trading on unregistered exchanges.
Crackdowns are coming eventually. China just the first salvo of what is coming from regulators in major nations.
Steem started dropping when the Poloniex wallet got disabled for "maintenance". That was 2 months ago, and I think when a lot of people realised they couldn't withdraw their Steem from Poloniex, they sold it for bitcoin, which they could withdraw. And the Steem price hasn't really recovered, because the wallet on Poloniex hasn't been re-opened.
It's a shame when exchanges mess with coins like that.
Thats an example of what is going to happen to all ICO issued tokens when the delistings come forth.
And STEEM is still trading on Blocktrades and Bittrex, so imagine the utter collapse towards 0 of the STEEM price if it had been delisted from every significant exchange.
Everybody going to get plenty of warnings but they will ignore the warnings of course.