3 Reasons Why ICOs Are A Good Thing For The Cryptospace
Hello there fellow steemians!
After my post yesterday about 3 resons why ICOs are a bad thing for the cryptospace, I want to share with you my 3 points why ICOs are a good thing. If you haven't read it yet and want to check it out, here is the link:
https://steemit.com/cryptocurrency/@ggorwell/3-reasons-why-icos-are-a-bad-thing-for-the-cryptospace
So let's jump right into it!
1. Opportunity to invest
What I love about ICOs is the fact that practically everyone has the opportunity to invest in something that may potentially revolutionize the world we live in. No matter where you live or how much money you have, you will be able to get some coins that might turn out to be something extremely valuable. Of course with this, there are also negative aspects that arise, but today I want to focus on the positives.
Also it is in my opinion quite simple to take part in an ICO if you are a little bit familiar with computers and the tech that comes with it. Maybe there will be an even simpler way to take part in the future - developed by a company that launched an ICO.
2. Community
A really nice aspect about ICOs is that you will get a group of people that will actively try to promote your coin and subsequently start a community. If you head over to reddit or whatever social site you prefer, there is for every ICO out there a forum. Which is something great. People exchanging ideas and thoughts always leads to improvement, it is an ideal place to start for a newly founded tech company. Plus, there is undoubtedly the effect of free marketing. There is nearly nothing as valuable as investors that actively try to promote your coin.
Getting a group of people together, sharing ideas and spreading the word about a product, is definitely a huge plus for ICOs.
3. Money
It always comes down to money. Raising money for a start up is extremely hard. You need to pitch your product to people that never heard of the things you try to solve and on top of that, you want them to give you money. With ICOs you are targeting people around the world, that may (or may not) be technically well versed and hence are much easier to convince to invest in your product. Now don't get me wrong. It doesn't mean you only need a whitepaper and a nice little website and you will raise millions, but it definitely gives you much easier way to gain capital that you otherwise wouldn't have gotten.
As always, it is way better to expose your idea to thousands of people who are willing to pay small sums, than trying to target just a select few millionaires.
And that's already it. My 3 little points why I like ICOs. Please let me know in the comment section below if you think I missed something, or if I am completely wrong.
Have a great day!
Greetings,
ggorwell
P.S.: Not a native, sorry for eventual mistakes.
I agree that ICOs are very very interesting financial and technological tool, your statements are great about them, here are some complementary info:
1 .- About openness in opportunity to invest:
Being open to anybody with a minimum amount of money and has access to internet, for that ICOs are great, and actually that have existed in projects like crowd sourcing platforms, for example KickStarter, Here you can check the FAQs of the platform.
2 .- Spread the seeds of growth around the world.
Absolutely, having investors, from tiny to small to medium and even large, around the world, will give your product or service the exposure to growth in their own communities, where those investors have their personal and business relationships. That will be for free ! and with advocates that will have incentives to contribute and improve every little aspect of your service, so this is a great value added by this ICO model.
3 .- Exposure to a wider audience, more chances of success.
And yes, a wider audience of possible investors gives increases your chances of finding more suited-like minded people that wishes to put their trust on you.
Thanks for pointing out this very basic and yet interesting and complex questions about ICOs. Great post.
If you like to keep sharing ideas about the technology and business about a cryptocurrency, please follow @ggorwell and myself also @sono.arquetip.
Hey thanks a lot for your comment. I posted a little negative list about ICOs yesterday if you are interested. The points are fairly basic but I think it never hurts to point them out.
Thanks again and I will check your posts from now on :)
cryptonomos is another site being used as a "launching platform" for token sales
they have been used for WTT aka Giga Watt to launch and they seem to have a couple more in the pipeline
https://steemit.com/mining/@felander/the-future-of-coin-mining
they really make it easy to do and lower the threshold for novices to hop onto the bandwagon, for good or bad