I keep wondering why new projects are being introduced into the cryptocurrency economy and we all will agree that about 80% of these new projects either don't do well or exits as scam. I know that bounty hunters especially benefits from the introduction of a new project because it's 90% sure to run a bounty program.
But what if the new projects stopped being introduced for us to focus on the thousands of projects that is already in the crypto space and individuals or teams that genuinely wants to make a change can instead either buy all these failing projects and work on them or offer to partner with the teams of the failing projects in a bid to recreate. I mean they could still run airdrops and bounty programs again to reintroduce their projects. Ain't nothing wrong with that right?
Just thinking aloud, don't know the repercussion of this idea, but back me up if it makes any sense
To stop introducing new ICO projects, this means that the development of cryptocurrency should stop. This should not be done, even though the next new 80 percent of new projects will show signs of fraud or they will simply be useless. But there will remain another 20 percent of new projects that will further develop cryptocurrency and for the sake of this it is worth doing everything. Of course, at the same time it is necessary to improve the effectiveness of ICO projects and get rid of fraudulent projects. I think that only government regulation of this type of activity can do this.