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Comment by aml183 | Hacker News Reader

There is not a bubble. Gnosis value has been cut to $100MM. The markets are working efficiently and punishing ICOs on valuation. Many ICOs have failed and not raised money. The market is focusing on these mega projects and not looking at the whole picture.

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This comment proves the entire point of the post. The Gnosis token is currently trading at more than 3x what it sold for during the pre-sale. It has gained in value A LOT, and people don't even realize that Gnosis is a success story. The price hasn't been cut at all.

The originally advertised $300M valuation included the dev tokens. The $100M you reference does not. To compare to the dev tokens, check this chart (putting the current full valuation at $960M):

http://coinmarketcap.com/assets/views/market-cap-by-total-su...

I apologize. You are right. I don't think Gnosis is healthy for the market. The incentives of the ICO were very misaligned. However, I still think the team is very strong and the potential is there. The market roots out companies that aren't up to snuff. Once you go below the top 20 crypto assets, the market starts dropping off fast.

It hasn't been cut to $100 million, the current market cap using the total supply (which is absolutely the number that should be used) is $958 million. Coinmarketcap (and others) is falsely claiming it to be $105 million, and that's dangerous.

It's absolutely a bubble very much like the HYIP forums from the early 2000s.

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