Interesting point of view.
I'm on exactly opposite end - I'm going deeper with ICO's this year.

Your points are pretty valid, but this mean you just need to be more peaky where you are investing. And I'm always and only buying during the pre-ico phase, avoiding those ICO's with massive pre-sale.
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All i know ICO's are good, they are potential to bring millions of profit, But bad news some of the ICO's sprouting are scam. Some are always promising but when the time comes, Nothing happens, They don't even bring integrity to their promises,