Discussion: Except for cash grabs, are ICOs not a way to gain crypto by those who missed early investment?

Hi Everyone.

Ive read about this idea before and wondered if others had some thoughts on it:

ICOs and crypto currencies like XRP exist for banks and other large institutions to grab large amounts of established crypto currencies like BTC. So doing risk-averse investors and naysayers of BTC and ETH are able to cash in after the initial rush they missed. Thus they accumulate a large amount of ETH,BTC or any other coin and offload something of low to near worthless worth on greedy investors.

Any thoughts and contributions to this?

Thanks

g00se

Sort:  

This is quite a bald claim to make. Although I probably agree with this. It is either banks or governments that are involved in doing this. I think this would be a good on the side illegal income for intelligence agencies to fund their covert operations.

*Bold claim. Well thats why I want to discuss it. Its a good question to pose. Obviously large institutions and governments wish to control the flow and supply of currency, so its a possible conspiracy.

Congratulations @crypticg00se! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 1 year!

Click here to view your Board

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @crypticg00se! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!