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We said there would be an ICO fallout back in March that would occur during the end of summer. This Charles guy is slow to predict... The entire Altcoins market has been run up by these ICO scams but now they are illegal as predicted and goodbye market. HODL THE Bitcoin not the Altcoins.
To be fair, I've been critical of most ICOs since the DAO and have publicly stated so. After seeing the wave of stupid/greedy money chasing P&Ds, I decided to become much more public about it with the Bloomberg article. No one seems to answer a simple question, "if you get a 10x, then who is buying the asset from you to realize the gains and why are they buying it?" If the answer isn't because they can do something with the token, but rather because they believe it's going up, then you have a Ponzi scheme brewing.
Nothing grows to the sky and pure greed has replaced rational thought.
