I'm not saying all ICOs are scams. I doubt that they are. But I don't know. Nor do you. Nor does anyone.
And I'd like the ICO industry to die. Quietly. In its sleep if possible, not with all guns blazing.
Why? Because the Satoshi network is one of the most important societal developments of the last 20 years (if not longer). It's important because it made more progress in the field of trust than we've made since, I don't know, the Templars probably.
And what do we do with that gem? ICOs. ICOs, whose trust model consists of anonymous people asking for money with vague promises about a non-existent future. It's a travesty. It's like drawing a smiley face on The Scream. Das is nicht einmal falsch.
And you're right. It's not worse than opioids or gambling. But really, is that the bar? Shouldn't we be building on the progress rather than pissing on it? Wouldn't it be better if we were working on the trust problem for exchanges? On the oligarchy problem of mining pools? Taking the flaws in the current network and fixing them?
So yes. I'd like the SEC to step in. Maybe the old guard can help the rotten branch wither so the tree can flourish. I hope.
If you want another cesspit, can't you dig it somewhere else?