In a recent speech at the annual PNWER meeting held in Montana, Neil Kashkari, president of the Federal Reserve Bank of Minneapolis, sharply criticized cryptocurrencies, stating that "95 percent of cryptocurrencies are fraud, deceptive advertising and noise," and he also said he had a more positive view of cryptocurrencies in 2015. Kashkari also referred to the large number of altcoins and called them "garbage coins."
I have to agree with him. Not actually 95% but most can be considered as lacking good initiative, progress, and development.
Lots of altcoins today, or even before, that can just be driven by the hype even without a good use-case. The ICO hype in the year 2017 is a good example of those altcoins that just suddenly popped out, just a small hype, then it will gain instant popularity. There are also ICOs before that just need a little boost from social media or hiring a good influencer then it will reach their target token sales making it called a success by their investors.
Looking today, can't see much of those 2017 projects that were able to reach their hard cap. Some of them are nowhere to be found now or can be considered as dead project.
I can remember it very well, 2017 is the year of the ICO's and all those crazy bounty campaigns I had participated. Many good companies then also many good bounty managers. And you are right when you try to look for them now, they are either gone or at the very least, less known and no development going on their end. I remember one before that has something to do with real estate or office space paid in crypto, the price was actually higher than one bitcoin at that time but the company flopped. I wonder what their investors had gone through those times.
