/biz/ - Business & Finance

it will, which is why you can see bots controlling the price and accumulating from normies who gave up

I am pro Bitcoin I have been mining/investing since 2012. I am pro crypto 100% but I am coming to realise that the director we are taking is going to destroy us. I am not talking about SEC, countries that ban crypto etc.
I am talking about ICO.
A lot of investors new to crypto decide to go for ICOs.
They seen their youtuber shill a new ico and they go for it. They believe the crap of 100x by EOY etc.
I have seen ICO telegrams group with over 100k members . There is literally a line to give them money. They always sold out no matter the shitcoin because there is always the fool ready to give them money. It’s so fucking easy for them to collect money.
Telegram ico going for 1.2 fucking billions. Telegram?? It’s a joke.
Look at the explosions of ICO until March 2018.
https://www.youtube.com/watch?time_continue=79&v=ac1P3GXkFxc
A big boom in only few months. All money that could have gone to big coins to serious coin but they wont and never will.
It is estimated 80% of icos go nowhere. It is estimated that 92% of ico fail to be traded on exchanges.
https://news.bitzamp.com/initial-coin-offering-scams-81-of-icos-are-scams-created-by-con-artists-said-satis-group/
Meaning 80% of the investments, of the money, disappear. The rich gets richer and thats it.
New investors only go for ICO, they are not goint for big coins ETH, BTC, etc . meaning 80% of fresh money coming to crypto is destined to disappear.
Earlier predictions of Bitcoin to go 20k/50k or Even $1MM like our John said would make sense if with the directions we were going without ICOs. I don’t believe we will ever get to those prices with ICO. We know the most coins increase of value if BTC increase of values this works for most of them. BTC won’t be able to increase in value if all new money goes on fucking ICO meaning other coins wont increase of value either. (there are exceptions of course but that’s the trend.)