Why Defending ICOs From Pump and Dumper Whales Is A Problem We Need To Solve

First of all, this article is not about hating on whales. Everyone is trying in the game for making more money.

However, what pump and dumper whales do to an ICO is significantly more damaging to everyone.

If you're into investing in ICOs, you have already seen a lot of cases where pump and dump whales damage the market, investors, and development of a blockchain technology.

The situation with ICOs is not healthy for anyone except big whales who are doing the pump and dump.

What happened at BAT ICO is just one example. Couple whales buying all the tokens in just 24 seconds can't be good for anyone except the whales.

When this kind of an ICO happens, the value of the coin will be defined by the whales when the coin starts to trade in exchanges. The public consensus becomes powerless in these situations, and the notion of decentralization gets destroyed for a baby born coin.

The whale issue also puts a lot of pressure on the developers of a cryptocurrency, and damages the quality of products that will be developed.

ICO fundings should be organized better. And there shouldn't be glitches pump and dumper whales use in order to profit massively by manipulation, while damaging all the other parties involved.

It will be harder for whales to manipulate ICOs if necessary ICO tools get developed by community, and by blockchain entrepreneurs.

If ICOs get structured with better tools and organizations, we will see much better technologies coming out of ICOs. We will see happier ICO investors. We will see motivated founders and teams. We will see the market flourish.

HODLing into coins during ICOs as communities is the first move we can make against whales. But it's not a long term solution, and it's not applicable to all ICOs.

The real solution will come from technology, and conscious ICO holders.

An ICO platform who fixes most problems of today's market will define the standards for Decentralized ICOs.

The solutions we find against pump and dumper whales will help the whole blockchain community, and future adopters.

Personally, I think that whoever tackles this problem will find a lot of supporters. And if we don't defend ICOs, we will have to obey to regulation.

It's critical for blockchain community to find solutions to it's own problems. If we find solutions to problematic issues like this one, blockchain will have a higher chance to be free from strict regulations.

Defending ICOs from manipulations is important, especially during these days, when all eyes are on cryptocurrencies.

Sincerely,
Arcturian

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