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Attribute the success of Binance and that of most #tokens to people's love for gambling. Not to the tokens' present or future usefulness.
Many ICOs are for excellent ideas that do not require a blockchain, yet choose the ICO road rather than looking for equity investors, creating a useless token in the process.
Having to acquire a token to pay for the services of a company or platform is an unnecessary annoyance. Food for now, hunger for later.
Example. Gecko Governance ICO. Great idea, 100% unnecessary token.
"GECKO Token is a utility token that can be redeemed to access the existing GECKO Governance solution and GECKO products and services"
One should be able to pay in USD, BTC, etc.
Also, a security, no utility.
"GECKO Token is a utility token that can be redeemed to access the existing GECKO Governance solution and GECKO products and services"
One should be able to pay in USD, BTC, etc.
Also, a security, no utility.
On the other hand raising funds via ICOs is easier and cheaper than via traditional channels. Those doing ICOs are thus incentivized to do so.
Alt charts may look great at the moment, yet as @TraderScarface said ...
https://twitter.com/TraderScarface/status/1019445927214379009
Many investors get stuck with bags, and refuse to sell them at a loss. When such bags are for bad projects it would be wise to liquidate them, take the loss, and allocate funds to high quality coins.
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