At the same time. I find myself a bit alarmed by the fever pitch at which new projects and their associated ICOs are hitting the market What immediately comes to mind is the irrational exuberance of the “dotcom boom” of the 80s that led to the unrestrained acceleration of asset values.
This period, which occurred roughly from 1997 to 2001. saw excessive speculation, a case of “too much too quickly.” I fear that the ICO boom is headed down this same path, with potentially dire consequences for the cryptocurrency space and its reputation if it continues unabated.
I recently heard a wonderful podcast episode on which crypto
Thought leader and ShapeShift CEO Erik Voorhees was interviewed by veteran journalist Laura Shin. In discussing the ICO frenzy. Voorhees suggested that we ought to allow market forces to direct the eventual outcome of this space while acknowledging the governments role in weeding out bad actors. I tend to concur with Voorheess assessment, for it is consistent with one of my favorite sayings by Chinese philosopher Lao Tzu: “Governing is like frying a small fish. You can ruin it with too much poking.
With this steady stream of momentum around ICO-related projects, many industry enthusiasts are finding it increasingly challenging to separate the “wheat from the chaff” when it comes to identifying those projects with a legitimate value proposition. Tied to this is the growing regulatory attention being directed toward rooting out scams in this space. This latter point has left some questioning the integrity of this exploding ICO landscape.