Initial Coin Offerings (ICOs) No, just…..no!!

Every so often an investment opportunity comes along that attracts huge amounts of excitement, enthusiasm, quick profit, and column inches. People who know nothing about finance claim to have made a sizeable amount of money. The nay-sayers and sceptics then enter the market………….and make little or no money. Crypto-currency is possibly the most spectacular example of these.
It is still nearly impossible to predict whether Bitcoin, Ethereum and the early entrants to the crypto currency market will have long term value and viability. Blockchain, the technology behind it, has the potential to change the financial world………whether it is allowed to, or whether it is undermined by the existing financial hierarchy and the brainless speculators, is anyone´s guess.
Should you invest in existing crypto-currencies such as Bitcoin, Ripple or Ethereum? Possibly.
Should you invest in an Initial Coin Offering, an ICO? Almost definitely NOT!!
ICO´s are the wild west of the financial world. No regulation, no due diligence, no requirement of any sort – a proposition that basically says, “I am one of more than 1,600 notional currencies. I am new and have no value whatsoever. I may never have any value. Send money and you will receive the right to own a worthless currency with which you cannot yet purchase anything. When people like you have sent us more than £250m we will launch the currency. It may one day be worth more than you send me.”
Absolutely anyone can launch an ICO and receive your money. Read more about ICO´s here.
If you are still seriously tempted to invest in an ICO then please get in touch. I have sixteen crates of snake-oil available at a very, very good price.