What would happen if people didn't follow greed and projects didn't promise crazy gains? If this was not main theme of ICO craze, but instead - true and honest support?
If you support someone for example through Patreon - you give him money and you don't really think much what will happen with this money - it's lost for you anyway and you feel good for supporting someone you like.
If all ICOs went that route, sure, we wouldn't see such crazy gains but we wouldn't also see such falls. People supporting projects that would fail would probably don't scream "scam scam!" all the time.
If you give a dollar on a street to someone begging, you usually don't follow him later and check what he bought in a store - liquor or food. Yeah, you are dissapointed probably if you see him drunk next day but you simply don't give him more money.
If ICOs was organized more like that, I think it would be much more healthy environment.
If you support someone for example through Patreon - you give him money and you don't really think much what will happen with this money - it's lost for you anyway and you feel good for supporting someone you like.
If all ICOs went that route, sure, we wouldn't see such crazy gains but we wouldn't also see such falls. People supporting projects that would fail would probably don't scream "scam scam!" all the time.
If you give a dollar on a street to someone begging, you usually don't follow him later and check what he bought in a store - liquor or food. Yeah, you are dissapointed probably if you see him drunk next day but you simply don't give him more money.
If ICOs was organized more like that, I think it would be much more healthy environment.
The problem with that mindset is it'd require an imaginary world, where investors wouldn't expect a return of any sort. It'd be like saying stock ICOs would work better if folks considered it a donation to the company, not expecting any profit (or even their investment) back. That's nonsensical.
We can't equate giving money to a homeless person to investing either. It's not like ICOs are charitable endeavors. ICOs work on greed, pure and simple.
And the reason they are failing (besides the whole SEC issue) is that so many projects are scams or are simply bad projects. It also doesn't help much that alts are generally in a bear market.