ICO are hot and especially HOT since 2017
Bitcoin fork, Ethereum, NEO make tons of new cryptocurrency available to market.
But I wonder that the cryptocurrency value is decide by the market, aka exchange like bittrex, bitfinex
Some crypto's whitepaper do set the initial price in whitepaper but mostly doesn't
So the initial price is decide by who? By the crypto founder, exchange or "secret man behind"?
Another question is let say the price have a ratio during ICO, 1 BTC = 100 CRYPTO, so the price per CRYPTO = 0.01BTC, so when they enter exchange, the price will start as 0.01BTC?
But what if the CRYPTO doesnt start with an ICO, how the price going to set to launch?
Any expert or experienced crypto enthusiasts can explain here?
CryptoRookie
Edited: Can have example for crypto without ICO? Thanks
I dont really know for sure, it might be possible. But if you start a cryptocurrency without doing ICO the coin might not be recognized by investors. For your cryptocurrency to be successful you need investors to be investing on it, cause when they dont, it will turn to a failure. Initial Coin offering is a way for startups to get funds to run the project.