What did not occur to them is the possibility that some of the founders of these projects do not care about finding a balance. All they want to do is raise as much money as they can to have enough protection to continue development. Some go as far as milking that extra amount from the community by making the ICO uncapped.
A thoughtful attempt but there is no controlling raw human greed through technology.
Johnson’s token sale works something like this: First, the seller (or project owner) sets a maximum number of tokens to sell or a maximum amount of ether to raise. Either can be a limiting factor, but Johnson suspects that in most instances, the supply of tokens will remain variable, while the amount of ether raised will be fixed.
Next, the seller announces a time period for when prospective token buyers can place their bids. Bidders then submit the maximum price they are willing to pay for a token and the quantity of tokens they want to purchase.
When the bidding period ends, the seller then calculates a strike price, or the optimal price for a token based on the collected bids. (At this stage, bids can also be revealed, so everyone can see which ethereum addresses bid how much for how many tokens.)
After the strike price is set, those who bid at that price or above can redeem their tokens at that price; those who bid below the strike price, will get their ether returned to them.
It is worth mentioning that the strike price calculation is the only part of Johnson's token sale that is handled off of the ethereum blockchain. Even so, sellers have every incentive to calculate that price correctly.
If they set the price too high, for instance, they will lose sellers on the low end. In contrast, if they set the price too low, the built-in limitation on the amount of ether they want to raise will kick in. The strike price is the point at which they raise the most money, while having to sell the fewest tokens.
Read in full http://www.coindesk.com/tame-whales-developer-nick-johnson-thinks-can-fix-icos/