Friday: ICO bubble

Today, one can see a nearly vertical graph of growth in the volume of capital of a crypto-economy rushing to infinity, hear fierce criticism from skeptics, and lofty praise from optimists. Frankly, I consider myself to be optimistic, although until recently I hated bubbles and treated them as a form of insanity or obsession. But, turning to common sense, I changed my opinion to the opposite. Then I will tell you how I stopped being afraid of bubbles and fell in love with chaos.

First of all, I am interested in the opinion of the community in the comments, then I give my reasons for this phenomenon.

About bubbles

I will start with the obvious: Habr is the result of the boom of social networks, if you recall, ten years ago social networks were created for any social groups. There were thousands of them for every taste, and it was quite easy to find money to create one’s own. Most of them died, the most viable ones remained. At that stage, no one was able to predict that Youtube would spawn a whole industry of video bloggers or that the network for photo lovers would turn into what Instagram has become today. You will say that it was not a bubble, since it did not burst. Nevertheless, it was a bubble: money was thrown to the wind in bags. True, the speed with which Facebook absorbed the market stopped further growth.

After conducting a mental analysis, I identified the following advantages of bubbles:

1. Ensuring evolutionary processes: projects must differ from each other, this stimulates changes (mutations).
2. Attracting new staff: in the wake of interest, many choose for themselves a profession related to information technology.
3. Involving people previously not related to programming: projects are served not only by programmers, but also by specialists from other professions, which increases the penetration of technology into life.
4. Stimulate the movement of capital: and this is a necessary condition for economic growth.

Of the minuses:

1. Investors are losing money: risk is a component of investment.
2. Households lose savings: this is sad, but it relates to personal responsibility.

Ico

There are a lot of hyip around the ICO: investors are hoping to get rich in a moment, developers are raising the budget of an absurd project, and the media are pouring on ignition in order to appear relevant. Yes, today there are a lot of rogues, swindlers, naive idiots and just dull personalities in the ICO community. And this, admit, annoying and sometimes scary. But, if you cut off all unnecessary, then the ICO is just a tool that allows you to raise capital faster than other ways, while no one forces you to contact the above persons (you can select investors at your discretion). And if you have a worthy project, then there will be adequate people ready to finance it.

My findings

For me personally, the negative effects of a bubble are no different from ordinary economic activities. A positive promote the entire industry, which I truly love.

Maybe I'm somewhere wrong and you have something to argue? Do you think this bubble will be able to knock down not only the market, but also the economy of individual states?