Topic: F*** ICO's. - page 3. (Read 4112 times)

Top notch software development requires funding
^^^
Did anyone actually answer this, or are you all just enjoying a one-sided circle-jerk?
How do great new projects get funded if the innovators are not allowed to be paid?

Pretty much summed up what I think of things.
The brightest minds in the world are yet to tap on the industry in a major way. Fintech's smartest people are yet to enter and disrupt.
What we have right now are a lot of scum like beings utilizing a technology built with the highest of ideals to trick and steal.
Additionally all the bad news keeps people wary about even working in the sector.
Things are changing slowly though.

The world is full of noise and cycles. This was no different when the first Italian city states develop the foundations of modern commerce, Europeans started colonising the new World, the Industrial revolution in England brought forth the steam engine and capitalist production, Railroads, Electricity, the Internet, etc. It is best to focus on specific things one knows how to improve and run with it, rather than worrying about all the things one can not fix. Capital on the blockchain is a pretty interesting and valuable mechanism, just still very raw.

I really don't understand why people think crowd-sourcing is where the "innovation" is. People have been crowd-sourcing and offering shares in potential profit for hundreds of centuries. To put it in perspective, the British Conquest of India was partly "crowd-sourced" in the sense that East India Company had a number of private investors. You could say wars were also crowd-sourced in the sense that bonds issued to fund these wars in the 17th century were bought by private investors. None of this is what's "innovative"

The primary innovation in the ecosystem was what Satoshi offered when he made a system that allowed all of us to remove the barriers set by conventional banking and fiat system . A lot of these "investments" are being made because you have an anonymous system of value transfer that happens digitally. Granted a lot of the new coins (especially IOTA ) are solving drastically new problems, what am trying to talk of is the pointless hype around them.

Among the scams there is important innovation occurring.  We are witnessing a new way of funding projects and promoting innovation - crowdsourcing.  Crypto is at the front of the decentralization movement which is going to influence technology in the future.

I have been saying this for years lol, my squall coin is a non ico/ipo coin, I have funded everything myself, I have no ones money!!

"how will giving money to devs make you rich" is my quote, and I stand by it.

This might sound like a plug, but I am more interested in saving people money, I was a big coin pumper/dumper back in the good old days, only to loose ALOT along with many other people.

It's just not worth it, just my opinion tho, if your good you can cream off a few coins before they disappear, but my coin is two years in and still being traded!. think on that.

You're no fool.. 


I like this idea, nice and clean, but I think that it is just as unfair as an ICO.

First - the POW is totally useless with regard to your coin's security (let's say IOTA). Just wasted cpu cycles.. If it were used to secure the network that at least would be something.

Then -  doesn't this penalise those who don't have access to a computer 24/7 ?

And finally - Those with faster computers / graphics cards would get more. Again, I see no reason for this being better than just asking for BTC.

..

It certainly 'sounds' fairer but I think you would end up with just as lop-sided a distribution..  Maybe more so as less people would understand it. An ICO is pretty straight forward.

.. BUT - you know what - it may have a future if this removes any legal complications that arise from an ICO.

Not bad for your 'first' idea..
 

There are many ways.  I'm not even very smart and the first idea that occured to me is create a well-publicized proof-of-work token and let everyone know that at the end of a 3 month - 1 year period their proof-of-work tokens would be permanently exchangeable for IOTA.  This isn't perfect, but its better than a blatant ICO. 

Hello,

On the offset I'd like to state that I am not against any of the coins doing an ICO here. If a community intends to distribute itself on basis of capital invested and come through on it, I believe they have all rights to do so. Individuals have their right to speculate and play with the supply and demand of the industry to make a profit too. None of this is what I have written against.

My key points of concern in the article are

1. Lack of regulations and accountability within the ecosystem
2. The hype that goes on around technology that hasn't been established
3  Tricking innocent investors into buying tokens that are worthless.

If anything decentralized forms of fund raising are a powerful tool to raise capital, empower entrepreneurs and give everyone a chance to benefit from the rapid rise of a start-up but under the current circumstances,

1. A startup can redefine the rules of its commitment within the token system (inflation, not coming through on its promises)
2. Owners of the tokens have almost no legal protection in the event of a bust.
3. Tokens are rarely ever backed by something tangible.

Capital markets around the world are rigged in the same fashion and all am stating is, in this cycle of hype and dump, we've lost something that was meant to be very ideological.

As for distribution issues, in case you don't realize- Bitcoin did establish a very smart implementation. Mining aside, it was the early adopters that benefited the most from its early day distribution. Granted we could debate over aspects like holding for long term profit and the mining part - it still showed us that giving a select number of people in the early days incentives to build the ecosystem does work. I will be writing about why ICO's are good and how we could leverage them in one of my coming posts.

P.s - Would you mind sharing all the white papers ? I am trying to make a compilation of all alt-coin white papers right now.

Regards

OK - so the same conversation - number 1001.

All ICO's are NOT scams, though some may be. (ps I have not bought into any yet, but not because I thought they were scams... I just like reading the white-papers.)

Let's take an example.

HOW could you distribute a coin that does not have a mining structure that supports it ?

HOW could the IOTA tokens have been distributed without an ICO in a sybil attack proof way ? (I know we talked about this yesterday americanpegasus.. but I would like an answer.. ;-) , when IOTA has no concept of 'mining' per se ?

? Thanx.

I am completely at peace with it. Just stating, if a revolution is what we're expecting, none of what we're seeing in the ecosystem right now is going to bring it on. Revolutions are a product of the people partaking in them. In most of these cases, they are solely dreams and hopes being sold to a greedy few who then dump it on some others.

This is what people want. ICO after ICO after ICO. Most people are here to try to make a quick buck. They know ICOs are scams and they do not care. Better to make peace with it.

Nothing I personally posted had anything against you (directly) - only against the state of crowd-funding in the ecosystem.

Roach and thinking? Haha, his mouth is connected to his anus completely bypassing the brain.

Oh, these racist vibes, I like them, they indicate the author want to offend me but have no ideas how to do it. Keep posting them.

So roach, why do you think Nick Szabo of all people is so on board with Ethereum?  He seems like the type to just launch his own clean fork of Ethereum vs. commit his talents to something so tainted.

crowdsale, ico or ipo or whatever theyre called is the new innovation actually.    you're left behind.

LISK will leave s bad taste in everyone's mouth for quite sometime. What a complete price dump and easy profit taking for the scammers.

Eastern Europeans figured out that creating decentralized currencies is not actually profitable for the coin creator because in a real decentralized currency, the coin issuer doesn't actually have control over who gets the block rewards at all.  Due to this fact, Eastern Europeans started creating centralized, permissioned ledger IPOs in order to try and scam people for personal gain.  (exhibit:  Come from Beyond & Vitalik)