I agree, the expectation has to be objectively reasonable. If the coin has a mechanism where it can always be bought for $1 forever it's reasonable that you ca

I agree, the expectation has to be objectively reasonable. If the coin has a mechanism where it can always be bought for $1 forever it's reasonable that you can't expect a profit. But ICOs don't do this. They limit quantity to drive demand of people hoping their limited resource will be worth more in the future.