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A Trainspotters Guide to ICO's

Posted 13 September 2017 A Trainspotters Guide to ICO's
Written by Jon Gulson
Everyone loves a story. And the gricer – the correct name for a trainspotter – formed part of a very popular and heady movement in post war Britain. The attraction was driven by the romance of speed, orderliness and admiration for great engineering. And for many, the ongoing machinations of the railways became an obsession.

A similar kind of enthusiasm had engulfed the railways around a hundred years prior – one which became a speculative frenzy. This was a time where the Industrial Revolution was creating a new middle class and The Bubble Act had just been repealed. New media - in the form of newspapers - and the emerging modern stock market made it easier for companies to promote themselves and attract investment for steam locomotion infrastructure which took us further, faster and cheaper.

Blowing Bubbles?

Around a third of the railways were never built as they suffered from poor financial planning or outright fraud. The end of the railway mania of the 1840’s meant many lost their life savings.

And while it is easy to draw comparisons with today’s ICO markets, there may be a salutary sting in the tale - unlike previous investment bubbles, there was a net tangible result from all this investment: the vast expansion of the British railway system, for which the gricer will be forever thankful.
So the moral of the story? Well, I’m not sure morality has any place in the wild west of initial coin offerings other than caveat emptor. Maybe the lessen to learn is whilst we love a good story – and ICO’s provide more than their fair share of those – make sure any investment losses don’t send you off the tracks: because blockchain will become the express technology of our time.
Written by Jon Gulson
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