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I hope that instead of slinging mud at ICOs, the YC community reaches out to firms like yours. Calling them all scams will not stop the next ICO from getting b
by jamespitts 9y ago
I hope that instead of slinging mud at ICOs, the YC community reaches out to firms like yours.
Calling them all scams will not stop the next ICO from getting bigger. Note to blockchain-denialists: there are 10s of billions of capital, a deep enough pool for thousands of ICOs.
Slinging mud will also not help make ICOs any safer, nor protect financial systems outside of blockchains from collateral damage should firms fail.
- influx 9y agoCui bono? In a world with ICO crowd funding, the roles of a VC firm like YC is greatly diminished. It's not surprising the buggy whip manufacturer is casting doubt on the dangers of the automobile.
- bsaul 9y ago"Role of a VC firm ...greatly diminished" : In which way is this different that "regular" crowd funding, which doesn't have as bad a reputation as ICO ? Personally, i'd rather raise "real money", than cyrptocurrencies. The reason why it's easier for those companies to raise millions through cryptocurrencies than regular money raising tools, is probably because there's a bubble.
- tryitnow 9y agoActually, I would imagine that the YC model would benefit greatly in a world of legitimate ICO crowdfunding. YC doesn't really make their money from deploying huge amounts of capital. In an ICO crowd funding world YC companies could focus more on product and sale and less on fundraising. I seriously doubt the ICO market is going to be ready for prime time until a few years from now.
- calafrax 9y agoI love this term "blockchain-denialist." But yeah, the whole concept is stupid and the only reason it is getting any traction is because the traditional financial system is just as bad, and there is way to much free cash in the hands of "investors" who can't even tie their own shoe laces.