Crypto Trading 2017, page-1657

From that same ny article -

"Investors are buying Ethereum and Bitcoin to invest in so-called initial coin offerings, a new method of fund-raising in which entrepreneurs create and sell their own virtual currency"

They're not actually selling a currency. They are selling an idea and a method. The coin/token simply represents a share in the venture. Not all ventures will succeed. It's likely that the vast majority will come to nothing.

Just as many ASX companies come to nothing. A share in a mining exploration company is just numbers on a screen. Similar to crypto currencies. Numbers on a screen. In the early days of buying company shares there was little regulation. No there's adequate legislation which is ignored by ASIC which allows vast criminal activity to flourish. In my opinion the ASX is the foremost criminal organisation in Australia.

I'll stick with crypto's thanks.