The Useless-ness of Utility Tokens

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Interesting new position and legal stance from the Iconomi team.

ICN has always been useless
ICN will seize to exist but can be converted to either actual security tokens, or for ETH

Interesting trade opportunity:
They are committed to buy each ICN at 0.0019 ETH, which is higher than the current market rate of 0.0017 ETH.

If you think that they will actually go through with it, you’ve got yourself an 11% profit trading strategy.

As I’ve mentioned before, a lot of “utility tokens” are useless and worthless. I see a lot more people cycling into very risky coins under the rationale that “even shit coins will pump eventually”. Nothing wrong with hating the assets and just taking it as a trade, but know when enough is enough and cut losses if you have to. If there are no fundamental reasons for a future recovery, you’re playing a very dangerous game of musical chairs.

Good luck out there. Crypto might be depressed right now, but it’s doing wonders for the purging and cleansing.

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