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$1.1 billion ... slight chance I could make the same money today by doing a blockchain-Tumblr ICO...

beager 9y ago
You might infer such a valuation on an ICO with a coin that is tenuously that valuable, but 1.1b for Tumblr was an outright acquisition, cold cash. You could probably claim a value of 1.1b on any hackneyed scam via ICO, but the issues with that eclipse any meaningful discussion we could have about Tumblr as an idea or viable business in 2017.
- GotAnyMegadeth 9y ago
  Hello :-) Could I just ask what ICO stands for? Thanks
  - toomuchtodo 9y ago
    https://www.bloomberg.com/news/articles/2017-06-15/digital-coins-are-so-hot-they-re-selling-them-like-an-ipo https://www.bloomberg.com/news/articles/2017-06-15/digital-c...
  - gruturo 9y ago
    Initial Coin Offering. The IPO of a cryptocurrency, more or less.
  - joombaga 9y ago
    "Initial Coin Offering", a way to crowd fund with cryptocurrency.
  - deleted 9y ago
    [deleted]
taude 9y ago
You'd be stuck with all that money in a crypto currency, unable to transition it to fiat, of which that crypto will likely be worth zero in a couple years. ;)
- mazamats 9y ago
  He's the one selling the coin... Initial coin offering
  - sushid 9y ago
    How do you think he'll be selling the coins? He'll be charging them ETH and/or BTC. Anyone will be able to see the wallets the coins end up in and he won't be able to cash it out without everyone making a big fuss about it.
    - benchaney 9y ago
      He doesn't have to charge ETH or BTC, u he could just as easily charge USD. And why would people make a fuss of he cashed out? The point of an ICO is to fund developement, not to serve as some sort of escrow.
      - sushid 9y ago
        Are you familiar with ICOs? You don't "easily charge USD" because all of them are held using crypto. Yes, some have used bitcoinsuisse to allow some to preorder their slots/amount using fiat, but that's the exception, not the norm. Moreover charging fiat only prevents them from legally allowing US citizens to participate whereas using the blockchain, they really only have to "warn" US citizens that their participation is not allowed. People have made a fuss for cashing out (e.g. Status was trying to cash out on a sizable chunk of ETH from their ICO, which led to a lot of angry ICO participants calling them out) in the past. It shows that they don't fundamentally have faith in the system if they're building an ERC20 token but they're selling ETH. No one minds them selling a bit for runway, but if you're liquidating your entire ICO amount, it'd be a huge red flag. Give me some counterexamples if you'd like to disagree but I'm fairly convinced you're not too familiar with the landscape.
        beager 9y ago
        Somewhat unrelated, I'm curious if there are documented examples of raised coin from an ICO being laundered/tumbled.

You might infer such a valuation on an ICO with a coin that is tenuously that valuable, but 1.1b for Tumblr was an outright acquisition, cold cash. You could probably claim a value of 1.1b on any hackneyed scam via ICO, but the issues with that eclipse any meaningful discussion we could have about Tumblr as an idea or viable business in 2017.

GotAnyMegadeth 9y ago
Hello :-) Could I just ask what ICO stands for? Thanks
- toomuchtodo 9y ago
  https://www.bloomberg.com/news/articles/2017-06-15/digital-coins-are-so-hot-they-re-selling-them-like-an-ipo https://www.bloomberg.com/news/articles/2017-06-15/digital-c...
- gruturo 9y ago
  Initial Coin Offering. The IPO of a cryptocurrency, more or less.
- joombaga 9y ago
  "Initial Coin Offering", a way to crowd fund with cryptocurrency.
- deleted 9y ago
  [deleted]

taude 9y ago

You'd be stuck with all that money in a crypto currency, unable to transition it to fiat, of which that crypto will likely be worth zero in a couple years. ;)

mazamats 9y ago
He's the one selling the coin... Initial coin offering
- sushid 9y ago
  How do you think he'll be selling the coins? He'll be charging them ETH and/or BTC. Anyone will be able to see the wallets the coins end up in and he won't be able to cash it out without everyone making a big fuss about it.
  - benchaney 9y ago
    He doesn't have to charge ETH or BTC, u he could just as easily charge USD. And why would people make a fuss of he cashed out? The point of an ICO is to fund developement, not to serve as some sort of escrow.
    - sushid 9y ago
      Are you familiar with ICOs? You don't "easily charge USD" because all of them are held using crypto. Yes, some have used bitcoinsuisse to allow some to preorder their slots/amount using fiat, but that's the exception, not the norm. Moreover charging fiat only prevents them from legally allowing US citizens to participate whereas using the blockchain, they really only have to "warn" US citizens that their participation is not allowed. People have made a fuss for cashing out (e.g. Status was trying to cash out on a sizable chunk of ETH from their ICO, which led to a lot of angry ICO participants calling them out) in the past. It shows that they don't fundamentally have faith in the system if they're building an ERC20 token but they're selling ETH. No one minds them selling a bit for runway, but if you're liquidating your entire ICO amount, it'd be a huge red flag. Give me some counterexamples if you'd like to disagree but I'm fairly convinced you're not too familiar with the landscape.
      - beager 9y ago
        Somewhat unrelated, I'm curious if there are documented examples of raised coin from an ICO being laundered/tumbled.