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> made it easier than ever for entrepreneurs to raise large sums of money without dealing with the hassles of regulators, investor protections or accountants.
by devoply 9y ago
> made it easier than ever for entrepreneurs to raise large sums of money without dealing with the hassles of regulators, investor protections or accountants.
Umm no easier than raising funds for any other venture, in fact probably more difficult and I would think a lot of that money is coming from people who were already made rich by other coin like bitcoin. Easy come, easy go, but enjoy the gravy train while you are riding it.
- abrkn 9y agoThere are programs that generate the tokens for you, templates for promotional websites, companies that specialize in shilling, pump groups that help for a cut. You don't have to do much but invent a name and write a nonsense "white paper" (pet supplies on the blockchain). Best of all, you can remain anonymous.
- nodesocket 9y agoCan you link to such programs, templates, companies? I'm interested to research and have a good chuckle.
- milkytron 9y agoHere's a decent way to start... http://launchaco.com http://launchaco.com
- sanswork 9y ago>in fact probably more difficult and I would think a lot of that money is coming from people who were already made rich by other coin like bitcoin. That's why it is easier. You have a bunch of gamblers who have gotten lucky on one bet thinking they are now master investors. They have seen a few ICOs pop so they are willing to take a punt on any that come through pretty much even if it makes no sense.
- to3m 9y agoI claim it can be +EV even when it's a punt. Suppose you make 3x on your first bet, as I did - and it's a long story why i settled for such a poor return ;) - you can then "invest" 2/3 of your winnings, and even if it all goes to nothing then you've still broken even. But in the current climate a 0% return seems, at least for now, unlikely.... (In the interests of even-handedness: Preston J Byrne, quoted in the article, is worth listening to, especially if you are by nature inclined to be a true believer when it comes to this kind of thing. Relevant thread: https://news.ycombinator.com/item?id=14573875 https://news.ycombinator.com/item?id=14573875)
- peculiar 9y agoWell, actually US is not the only country in the world. There are places with zero chance to get any VC funding. I have even seen a funny acceleration program that offers $300 (three hundred bucks) for 10% of a startup (and there was a huge list of requirements the company and founders should meet). That's ridiculous. ICOs open a window of opportunities in such places. That's a pity though it is discredited by been used for scams.