The cryptocurrency market has turned some people into millionaires at the expense of indebting many others.
In retrospect, now that the dust from the meteoric collapse of ICOs has settled, the whole idea of decentralizing wealth seems to be a farce. A few lottery-lucky speculators day traded their week’s paycheck into a fortune if they managed to sell their ICO tokens at the January, 2018 highs. The majority are left holding some of the most putrid bags in the history of speculation. The problem with ICOs had been that far too many projects launched a utility token without creating a real economic demand for that token. Meanwhile, people blindly threw in hefty sums of cash in the mere hope of selling their ICO tokens for a profit. When greed combines with whimsical decision-making, bloody bank accounts are the product.