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Ethereum-Developers are Sceptical of ICOs and You should be too

What's going on: Now that Bitcoin's Segwit2X isn't happening and Altcoins are on the rise again, it's a good time to take a closer look at what's happening at Ethereum and ICOs in general. Criticism on Initial Coin Offerings (= giving money to a startup that in most cases doesn't yet exist, that's run by people you don't know with a product that doesn't exist and / or you don't understand) is nothing new.
So why do we talk about it then? Well, now even renowned Ethereum-developers are weighing in and what they have to say is not pretty: "The problem right now is that too many people outside of the blockchain space focus on tokens and ICOs; frankly speaking, it's the least interesting part of ethereum," said Fabian Vogelstellar, the guy behind the widely used ERC20-standard, in an interview with Coindesk.
An while ICOs may be Ethereum's "killer app", that helped it climb to the price and market capitalization it has now, there is still a lot to improve. "Many [ICOs] seem like a cash grab from people who were unable to raise money from venture capitalists. In many cases, these are poorly thought out tokens predicated on centralized products," Jack du Rose, co-founder of ethereum startup Colony, said.
Why should I care: I think ICOs are a revolutionary way to raise money, but it's also a paradise for scammers and get-rich-schemes. As you may know there is this rule of thumb that 90% of startups fail, even if they have a product and a good team behind them. So what is going to happen with all the ICOs going on, that have neither of it? We don't know yet, but my guess is, that it will not end pretty (you should check out this article, if you want to read about a, in my opinion, realistic scenario).
I'm sure that there are and have been legit ICOs by talented teams with good products and a bright future. But we can only guess who those are and if you plan on investing your hard earned money on ICOs, you should check out this quote from FunFair-founder and CEO Jez San Obe:
"You should have a product before you ICO, you should know how to run a company, you shouldn't have an anonymous team and you should release a prototype first. When you describe a technology that no one can understand, you can hoodwink people. People throw money at it, you raise $100 million dollars and still don’t know how to build it."
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A new Bitcoin forecast 2018, profits assured?☑️ Jez San - Fireside chat with BlockTV Gaming Industry Innovators: Jez San, PKR.com founder CRYPTO NEWS: Bitcoin Price LIVE FunFair Project Update With Founder Jez San

Jez San is a tech veteran. Founding Argonaut software as a teenager in the 1980s, he went on to pioneer 3D gaming on the SNES (Super Nintendo Entertainment System) and work on various classic nineties games, including Star Fox and Croc. Since moving on from Argonaut, he has turned his… Individuals, businesses, developers: learn from our simple Bitcoin guides. How Bitcoin works, what is Bitcoin, what is blockchain, how to buy Bitcoin, what is Bitcoin mining and more. Bitcoin ist eine sogenannte Kryptowährung, also ein digitales Zahlungsmittel. Aber wie kauft man eigentlich Bitcoins? FOCUS Online erklärt, wie's geht. His name is **Jez San**, one of the UK’s best known technology entrepreneurs and current owner of PKR.com (a very popular poker website). Did... Jez San OBE (CoinTerra) George Kikvadze (BitFury) Josh Zerlan (Butterfly Labs) Benny Gorlick (COO, Cloud Hashing) Sam Cole (KnCMiner) Categories Videos Tags Bitcoin, bitcoin conference, bitcoin2014, Mining, Technology videos, Tecnology, Video Content Post navigation. An Analysis of Global Cryptocurrency Regulations. BKCryptotrader @ Blockchain Economic Forum #BEF2018. Bitcoin Price. Bitcoin ...

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A new Bitcoin forecast 2018, profits assured?☑️

🔵 Elon Musk about Bitcoin, Halving & SpaceX Updates [MAY 3, 2020] AWAL TV 8,731 watching Live now Gaming Industry Innovators: Jez San, PKR.com founder - Duration: 8:26. FunFair Project Update With Founder Jez San In this interview we discuss the progress Funfair has made in the past 12 months with founder Jez San. Funfair is one of few projects with a working ... This video is a Russian demonstration of how to pay with Viacoin on ivendPay's Point of Sale. An English version is coming soon! “We need to remember that cryptos and blockchain are a 10 to 20 year project and this will all take time. This is all part of a natural evolutionary process which has been repeated many times in ... http://calvinayre.com - Jez San is a familiar face and name in the online gambling industry and beyond. He’s most commonly known amongst our circles as the P...