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The free market will have to work itself out I guess.

bingo. This is a great laissez faire experiment. Lets let it do it's thing.

When an IPO happens, people already know the company. When a new ICO happes, people just invest because of the hype in the crypto technology. Maybe when the hype is gone, and crypto related companies are judged harsher, maybe then we will see a cleaner market of coins.