Civic CEO Vinny Lingham has been known his level-headed analyses of cryptocurrencies and the blockchain industry in general. Last month at a conference, he became a voice of reason in a room raging with ICO founders. He said that \u201cthe crypto sector will need to begin self-regulating due to a number of incidents that have caused concern recently, otherwise governments will impose stricter regulations,\u201d adding in his presentation that \u201cindustries that don\u2019t self-regulate get regulated.\u201d In another ICO event, the man dubbed as the \u201cBitcoin oracle\u201d criticized that most tokens in existence are in fact, securities. \u201cIf the price of something is determined by its ability to deliver an investment return then it\u2019s a security,\u201d Lingham said. \u201cIf you\u2019re building a utility token, it has to have real utility\u200a\u2014\u200aif you\u2019re just using it to raise money, then it\u2019s a security.\u201d When asked about blockchain projects that utilize a two-token system, Lingham is not impressed either. \u201cPeople will raise money by whatever way they possibly can\u2014if it means bending the rules, changing the system, and unsuspecting people will wind up putting up the money to buy it. But just because you can raise money in a certain way doesn\u2019t mean you should,\u201d Lingham said. Some blockchain projects offer two different tokens: one for utility, and one for governance. Segregating the two keeps the utility token liquid, and reserves governance tokens for those who want to get involved in the development of the project\u2014and those who just want to HODL for profits later on. Unfortunately\u2014although most founders of such projects say otherwise\u2014governance tokens act quite like a stock and give holders similar powers as if they were stakeholders. Lingham, who has been an open supporter of Bitcoin Cash (BCH) was also asked about the scaling issue on Bitcoin. He said that it\u2019s impractical to pin hopes on the Lightning Network, which is an unproven solution. \u201cLightning, maybe it works, maybe it doesn\u2019t. The point is, you\u2019re going from something that\u2019s proven, that can scale, at least to some degree, versus something which is unproven and it may not be able to scale, and we\u2019re pinning our hopes on it. It\u2019s very impractical,\u201d he said.