Hi All,
I'm a bit confused on the necessity of ICOs. Here is what I am trying to understand:
if you would like to create a platform on which a token represents the value you place on an answer to a question, the question is asked, someone answers correctly, the token is transferred to them, and the person who answered the question would then like to "cash out" so to speak. In order to "cash out" on this token and convert it to bitcoin, is it necessary to have previously held an ICO in order for that token to hold any value in relation to Bitcoin?
I realize my question may be a bit scrambled so thank you in advance.
Your Question puzzles me more, But let me answer like this the real value of the token is depend on the platform's ability to create a demand on its tokenized products and services offered to be simpler those consumers, users, and holders who were bought those tokens as a form of investment. after the platform was initiated an ICO, of course, there will be many investors who wanted to trade those tokens after it was listed meaning it was tradable. the price and token value were dictated by the market (supply and demand). The concerning value against Bitcoin. I think it is not related because mostly the price was base and traded in the US dollar (USDT) so it's directly traded the price traded against the (BTC/USD) value in the BTC/Token pair and it is not related to the Bitcoin price but instead in the US dollar.