Initial coin offerings: cryptocurrency's next high-risk big money maker

Risk-takers are cashing in millions with launches of new cryptocurrencies that make traditional initial public offerings look practically prehistoric

After the boom and bust and boom of bitcoin, where some lost millions on discarded drives and others found forgotten wallets with enough to buy a flats in Oslo, the next big thing in the cryptocurrency is here to generate millions of pounds for the lucky few brave enough to invest: the initial coin offering (ICO).

If you hang out in cryptocurrency circles, you're used to hearing conventional wisdom being questioned. After all, the sector was born out of the idea that orthodox economics is bunk. From there, there's nowhere to go but up.