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Above all, I feel sorry for the small guy. Sure, ICOers are raising money for their dreams. And the "whales" "investing" in those ICOs are mostly lucky tech-is
by lambdadmitry 9y ago
Above all, I feel sorry for the small guy.
Sure, ICOers are raising money for their dreams. And the "whales" "investing" in those ICOs are mostly lucky tech-ish folks who behave irrationally (like investing-1/4th-of-Whatsapp-in-a-service-with-a-few-hundred-users-irrationally). Whales will not suffer much in the end and ICOers will drive their Ferraris. It's those who believed in "invest in cryptocurrencies" hype in mainstream media who will loose the most.
After all, if we treat the whole cryptocurrency ecosystem as a blackbox, dollars come from those humble folks to ICOers. Just with an extra twist of BTC on their way.
- FLUX-YOU 9y agoThat's pretty much what banks were doing with tech IPOs anyway (maybe other IPOs?).
- mannykannot 9y agoIPOs have at least three pesky features that an ICO lets you avoid: 1) A functioning business. 2) Actual investors - i.e. people who own a portion of your enterprise, with all the obligations and expectations that go with that. 3) Regulation and oversight. I suppose an IPO without 1) is possible in principle, but then it is hard to get 2) and you have to be careful of 3).
- JetSpiegel 9y agohttps://en.wikipedia.org/wiki/Pets.com https://en.wikipedia.org/wiki/Pets.com
- lambdadmitry 9y agoBanks usually don't go underwater. If you "invest" in your savings account, you will never loose your money, whatever the bank does with their shares portfolio (save the total system collapse). BTC:USD doesn't work like that.