I went out for a couple of Bitcoin events yesterday.
At the end of the night, I wound up at a bar with a dozen other people, including crypto YouTuber Thomas Hunt of MadBitcoins.
Throughout the evening, two questions kept reappearing around the table:
Should you ever invest in an ICO? How do you know they won’t just run away with your money?
According to Thomas aka MadBitcoins, you ultimately have no guarantee any ICO isn’t a scam.
In some cases, you can have confidence in the smart contract that should be at the heart of the ICO business.
But in most situations, that’s too technically advanced and opaque for most people to make any sense of.
I guess that’s one of the reasons Thomas claims to be a “Bitcoin maximalist.”
So does that mean you should also never invest in an ICO?
Still, many ICOs have produced incredible returns for some people.
It might be foolish to pass that up entirely.
Thing is, I can’t tell you where you should invest.
But I might be able to tell you where not to invest.
Kris Csuzi and I are starting a site where we will interview founders of companies going through ICOs.
This way, you can get a sense whether an ICO is a complete scam or a less-than-a-complete scam.
Our site is going live in a few days with our first interview.
If this is something that interests you, you can sign up to get notified here: