Someone just reminded me that the crooked banks got fined billions for selling (obvious scams) IPO's to the public during the wild scam times, and yet now they wouldn't touch ICO's with a stick.
ICO's are like "Ok so there's no project no team no nothing but this is the revolution trust us, hundred of ICO's every single one a revolution".
And "investors" are like "Ok I bought some useless thing with no value" "What?" Takes another gulp of Kerosene "Np broo I have a plan. I'll sell it higher to someone else"
Man I wish I knew if the "Aaaand it's gone" savedroid ICO guy was really kidding or if he exit scammed and only came back because it took his investors 15 minutes to find out where he was hiding.
Crypto was supposed to be unbreakable save the world and remove frauds...
"We don't need to trust someone it's trustless". Nope won't ever work.
A smart contract won't tell you if both parties are telling the truth only if transactions went unforged, scams still very possible and easier than before...
So a large capitulation that brings BTC below 1k could happen when people (finally) realize it's not this magical thing that will replace god and make us immortal super beings with infinite wealth... Sure taking them alot of time but it always takes time, people are veeery slow. And for sure people will laugh about it in 50 years as if they wouldn't have fell for it.
My lovely Prodeum is the exception thought, that's not a scam they'll come back. Penis!