The one of biggest stories in cryptocurrency over the past couple of months has been the meteoric rise of the ether price and the speculative frenzy around the Initial Coin Offerings (ICOs) launching on top of the Ethereum platform. In a recent video uploaded to his personal YouTube channel, Dogecoin creator Jackson Palmer shared some of his thoughts on ICOs and their effect on the ether price.
“The real reason the [ether] price has been going up something like a hundred dollars per week for the past month is really just greed: greed from developers, greed from investors [and] greed from everybody in this speculative market,” said Palmer in a summary of his main point on the topic of Ethereum and ICOs. “And that’s not necessarily a bad thing. People making money is how the world works. But it’s the way in which it’s been happening and the speed at which people have been doing these ICOs that is a little bit concerning.”
Everyone expects it gonne burst someday, just look at bitcoin.. But I have faith that in a couple of years Ether has matured a lot more.
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@jycloud9 Bubble may be around ETH $5,000+. I think all of the ICO activity is great for Ethereum and the crypto universe in general. We can raise money and we can do it better than Silicon Valley!
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It is nice to see software being built upon the platform but I do worry that having so many ICO's coming out can artificially inflate the price and lead to projects that won't come to fruition. This leading to a loss of faith in the uses of the network. I do hope that Ethereum can hold it's own since it is a great idea and a cool platform.
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