Let me tell you a story :
i had a look at a book : "The history of a magician", it is the memories of Hjalmar Schacht, here is an overview of his background :
Hjalmar Horace Greeley Schacht (22 January 1877 – 3 June 1970) was a German economist, banker, liberal politician, and co-founder in 1918 of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic. He was a fierce critic of his country's post-World War I reparation obligations.
While he never joined the NSDAP, he became a supporter of Adolf Hitler, and served in Hitler's government as President of the Reichsbank (1933–1939) and Minister of Economics (August 1934 – November 1937). As such, Schacht played a key role in implementing the policies attributed to Hitler.[2]
While Schacht was for a time feted for his role in the German "economic miracle," he opposed Hitler's policy of German re-armament insofar as it violated the Treaty of Versailles and (in his view) disrupted the German economy. His views in this regard led Schacht to clash with Hitler and most notably with Goering. He was dismissed as President of the Reichsbank in January 1939. He remained as a minister without portfolio, and received the same salary, until he was fully dismissed from the government in January 1943. [3] After the war, he was tried at Nuremberg but acquitted.
In 1953, he founded a private banking house in Düsseldorf. He also advised developing countries on economic development.
Source : Hjalmar Schacht in WikipediaWhen Hitler came at the head of germany, the government had an enormous financial issue, Schacht found a solution to avoid the Treaty of Versailles limitations and provide more funds to the government by creating the MEFO notes.
The result of these notes was the re-arming of the german nation and the relaunch of their economy, it was also used to stop the galoping inflation.
These notes can be compared to the actual Cryptocurrencies as both appeared during/after an economical crisis, and brings new financial levers to finance the economies of the targeted countries/networks.
For me, today i see companies like snapchat, google, instagram, who brings solutions for some users, to ease the internation communications, it is good, but today we see that 90% of these applications to basically say :" Look, my life is better then yours !", You eat a chese burger and send its picture to all your friends saying "Amazing chese buger !", it is totally stupid to behave like that, it reflects a worldwide intellectual regression because instead of having an intellectual world, we got a materialist world.
Today Bitcoin can resolve this kind of problem as it is a technological revolution, it attracted a lot of developers, knowledge, know-how, for example yesterday i talked to two bank companies representatives who invested into the NVO project, they did it because the presented technologie is interresting and it represents an innovation who can survive in the future, while an ERC20 token, used into a server will often create inflation instead of anything else. Because of this inflation cryptocurrencies are beign regulated by organisms like the SEC because of the eventual scams regarding their respective citizens, which means that somewhere, it will soon be regulated but meanwhile everyone is taking advantage of the hype like Ejin does, why do they need to take advantage of the ethereum hype ?
Into the posts of the first thread (locked now) Enjin said they earn about 1Million $ a month, why does a million project needs to do a crowdsale ?
First, it is totally idiot to use a token, it means they will have to change their initial currency (USD) to their token (which is uncertain) which means that they will risk to loose their users because of the confusion experienced by the new crypto users, will they provide an internal exchange ? it will need a lisence, which means they will ask their users to go to an exchange in order to get or sell their tokens and buy/sell ethereum to realise the transfers, while the answer is more simple. They never got 1 Million $ a month, they loosed 30% of their userbase during the last few month, even if they still have a lot of users, 30% is a hard hit to their platform, while all the gaming platforms experience an increased frequentation during summer time because of the holidays. In other words, their platform loosed 30% of its users during the last 4 months and this is why they decided to use an ethereum token, just to fake the frequentation of their platform and hype it using Ethereum and crypto users, after that, they mayt sell the platform and go with the funds.
The big question, they said they will sell different products into their platform, does a designer would like to be paid in ERC20 Token, Bitcoin, USD, or Ethereum ? For me, the main currencies are the most logical ones ETH BTC USD are the currencies they want to use, so why haven't they implemented them in their platform ? This is why they are lieing with the Token.
When a website starts to die, he never comes back, let's take Yobit as an example, or even a game, when it starts to die, it nevers comes back unless a new version is available or a big update is pushed. This is why i say this ICO is useless and shouldn't even exist, it is a non-sence. This is why they won't answer to any question and created a self-moderated post.
To conclude, i spoke about Schacht to say that if these ERC20 tokens have no usage, are just a hype, and used as a way to get money from people it will encourage the different governments to issue regulations about them as they harm their citizens.
Why cryptos could bother the governments ?
Who will finance the highways ? security ? Social security ? hospitals ? education ? cities maintenance ....
Actually it is the collected taxes who lets all these services to be maintained by the governments, it is good that Bitcoin is here because the governments abused of these taxes, however it is the best argument they have to regulate bitcoin, let's avoid giving them more arguments with these ERC20 tokens, what ever happens, Bitcoin will never really disapear, however most of the altcoins won't be able to survive because they don't bring a real technological innovation, and only the real projects will gain in value, like at the epoch of hitler with companies like Volkswagen, Porsh, Siemens, the companies who will always survive. So please, invest in projects who have a real future, not in 3 months lifespan projects.
