[dcole2929]

Because those things are not in and of themselves scams. Is it a bad idea to buy a $2M car or a 6k hand bag? Probably but at the end of the day you still get something out of it, an overpriced car or bag. The very nature of some of these ICO's is that you are getting literally someones word that something with no intrinsic or useful value will be worth something in the future. That's fine if you actually understand the risk, and are prepared for that but because these ICOs are open to anyone with a BTC you can't really make that assumption of those investors the same way you can with an accredited investor. This would all be fine and dandy but because of the sheer amount of money involved in this it can theoretically have destabilizing effects on other money markets. Not to mention the huge potential for money laundering, ponzi schemes and other financial chicanery

[mrwong]

#1 reason for privat bankruptcy in Germany are consumer credit default. From buying/leasing expensive cars and gadgets.

So people are going broke by the masses from buring money on shit they don’t need to impress people they hate cus advertisement told them to.

Shutting people off from investing their own money however they like is Elitist thinking!