Not a bubble.

[randomness]

From https://uetoken.com:

"The world's first 100% honest Ethereum ICO.

"You're going to give some random person on the internet money, and they're going to take it and go buy stuff with it. Probably electronics, to be honest. Maybe even a big-screen television.

"Seriously, don't buy these tokens."

Useless Ethereum Token raised $300,000.

"The UET crowdsale has finished. Thanks to everyone who contributed!
(Regardless of the fact that none of you read any of the warnings on this page.)"

Comments

[achinhibitor.livejournal.com]

“For carrying-on an undertaking of great advantage but no-one to know what it is”

That one raised GBP 2000 in 1720, which (as a price) is about GBP 275,000 today, or about USD 375,000 ... which is about what this scheme raised!

[r-ness.livejournal.com]

This scheme seems noticeably less worthwhile. That famous one from 1720 Britain was more "we want your money to do something we're not going to tell you about but we think will make lots of money", whereas this one from 2017 is "we want your money for something we are telling you right now isn't worth anything, and you shouldn't give us money anyway".

I think that's a significant distinction. There are lots of people doing variants of the 1720 model in the ICO space and making plenty more money than $300k.

That the UCE people got a similar amount of money while saying straight out "don't buy this!" says to me this bubble is even nuttier.

[achinhibitor.livejournal.com]

What do you think the proper odds are for "There's going to be something even stupider before this bubble bursts."?

[r-ness.livejournal.com]

I have no idea, but I certainly wouldn't bet against.