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Agreed but the same could be said about VC money and unicorns like Uber, Snap Inc. etc. It will be laughable if say Uber's CEO equates bashing of Uber's tech or

Agreed but the same could be said about VC money and unicorns like Uber, Snap Inc. etc. It will be laughable if say Uber's CEO equates bashing of Uber's tech or business model as a threat to all unicorns. One of the bigger problems I see with these ICOs is they that they don't offer much in terms of business viability other than maybe "cool" tech. I have been thinking of a purely profit focused contract(coin) on top of ethereum network. Something which provides value to people and the investors as well. Unfortunately not a programmer so it has to remain a plan forever.

root_axis 9y ago
> but the same could be said about VC money and unicorns like Uber, Snap The same cannot be said about VC money going to unicorns. Those companies provide in-demand services that people use and enjoy, even if the business model is tenuous, there is clear value created by the services. Not true of ICOs which create no value.
- thisisit 9y ago
  My bad. My phrasing should've been better. I am not implying anything on the value side of ICO vs VC backed real world companies. I am just pointing out that - No company is an island. Criticizing one doesn't implicate the whole industry as the Bancor guys try to portray.
davidgerard 9y ago
Have you seen EOS.io? Here's what the white paper says it is: > The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across hundreds of CPU cores or clusters. The resulting technology is a blockchain architecture that scales to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications. No, that doesn’t end "and a pony." Sounds great! So I buy some tokens, and I get ... from the FAQ: > The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform. The legal EOS Token Purchase Agreement is a frankly amazing document that you need to read all 15 pages of. US citizens or residents are not to buy the tokens (though EOS is sure they don’t constitute a security, honest SEC); the tokens are defined as not being useful in any manner; forty-eight hours after the end of the distribution period, the tokens will no longer be transferable; the buyer is not buying them for speculation or investment. https://eos.io/purchaseagreement/EOS%20Token%20Purchase%20Agreement%20-%20June%2022,%202017.pdf https://eos.io/purchaseagreement/EOS%20Token%20Purchase%20Ag... They're doing one billion tokens, dribbled out slowly over a year, at a price of "how much money do you have to throw at us". Really, that's the price. 'Coiners are still lining up to buy them. "Whatever these people do, I'm going all in. Nuff said." https://bitcointalk.org/index.php?topic=1904415.0 https://bitcointalk.org/index.php?topic=1904415.0

root_axis 9y ago

> but the same could be said about VC money and unicorns like Uber, Snap The same cannot be said about VC money going to unicorns. Those companies provide in-demand services that people use and enjoy, even if the business model is tenuous, there is clear value created by the services. Not true of ICOs which create no value.

thisisit 9y ago
My bad. My phrasing should've been better. I am not implying anything on the value side of ICO vs VC backed real world companies. I am just pointing out that - No company is an island. Criticizing one doesn't implicate the whole industry as the Bancor guys try to portray.

davidgerard 9y ago

Have you seen EOS.io? Here's what the white paper says it is: > The EOS.IO software introduces a new blockchain architecture designed to enable vertical and horizontal scaling of decentralized applications. This is achieved by creating an operating system-like construct upon which applications can be built. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across hundreds of CPU cores or clusters. The resulting technology is a blockchain architecture that scales to millions of transactions per second, eliminates user fees, and allows for quick and easy deployment of decentralized applications. No, that doesn’t end "and a pony." Sounds great! So I buy some tokens, and I get ... from the FAQ: > The EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, express or implied, including, without limitation, any uses, purpose, attributes, functionalities or features on the EOS Platform. The legal EOS Token Purchase Agreement is a frankly amazing document that you need to read all 15 pages of. US citizens or residents are not to buy the tokens (though EOS is sure they don’t constitute a security, honest SEC); the tokens are defined as not being useful in any manner; forty-eight hours after the end of the distribution period, the tokens will no longer be transferable; the buyer is not buying them for speculation or investment. https://eos.io/purchaseagreement/EOS%20Token%20Purchase%20Agreement%20-%20June%2022,%202017.pdf https://eos.io/purchaseagreement/EOS%20Token%20Purchase%20Ag... They're doing one billion tokens, dribbled out slowly over a year, at a price of "how much money do you have to throw at us". Really, that's the price. 'Coiners are still lining up to buy them. "Whatever these people do, I'm going all in. Nuff said." https://bitcointalk.org/index.php?topic=1904415.0 https://bitcointalk.org/index.php?topic=1904415.0