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To put it into perspective, the tezos ICO recently raised a little more than $200,000,000 worth of BTC and ETH. Here's their twitter: https://twitter.com/tez0s
by blhack 9y ago
To put it into perspective, the tezos ICO recently raised a little more than $200,000,000 worth of BTC and ETH.
Here's their twitter: https://twitter.com/tez0s?lang=en https://twitter.com/tez0s?lang=en
Here's their subreddit: https://reddit.com/r/tezos https://reddit.com/r/tezos
Here's their website: https://tezos.com https://tezos.com
It doesn't look like they have really updated anybody on what they're doing with $200,000,000 since their ICO closed.
- deleted 9y ago[deleted]
- SilasX 9y agoWhy are people throwing money at these? It makes no sense. You have no guarantee that they won't just run off with the money, except your trust in the operators.
- blhack 9y agoThis one is particularly baffling to me. $200,000,000 is a fortune. We're all presumably working on our own startups here. Can you imagine getting $200,000,000 in seed funding without even starting on your project? Just absolutely WTF is going on there?
- wmf 9y agoThere's a theory that people with enormous paper ETH gains are just diversifying by buying into all the ICOs. And the ICO "fortunes" are also on paper; I don't know if there's enough liquidity to sell the $500M per month that ICOs are bringing in.
- honestlyreally 9y agoWhat i don't get is how an eth token gets bought in eth, and creates millions of dollars of a new currency yet eths marketcap doesn't go down?
- maneesh 9y agobecause money is a bet against bets against bets (the day before and the day after snap IPOed--was $25 billion really created? Where did it come from--and where does it go?) And part of how the money supply has billion-xed since 2000 and no one seems to notice
- wmf 9y agoICOs are probably best understood like companies, not currencies. As you observed, an ICO doesn't create any value since it's just moving ETH around. If the token value increases relative to ETH then you could say value has been created.
- honestlyreally 9y agoHow many companies do you know that issue new shares every hour?
- wmf 9y agoNone, and neither do most ICOs. But that doesn't somehow make a token not a share.
- honestlyreally 9y agoTezos, staus and filecoin all have inflating supplies, they are the biggest icos in history. Bancor is essentially uncapped in how many tokens can exist. Between them they've raised $500m. I'll have disagree with you on this
- proofofstake 9y agoOld vs. new money. It's a lot easier to get money from 15.000 people who got so rich with BTC and ETH, they have money to spare, than to find and convince 15 Venture Capitalists to put up 1.4 million.
- proofofstake 9y ago> Why are people throwing money at these? Futures for Tezos are already trading at 6x the amount people invested during ICO. > It makes no sense. In the short term it makes a lot of sense (600% ROI). In the long term: An Ethereum based on OCaml has an interesting potential. > You have no guarantee that they won't just run off with the money If the developers are not anonymous, while no guarantee, it makes it less likely. When you cross the road you also have no guarantee that the cars won't run you over. Some amount of trust is needed, whether for money or your entire life. Benefit of crypto is that you don't necessarily need to rely on trust. I doubt Tezos has contractual access to all the money they received, or are allowed to dump their shares as soon as it starts trading for real.
- flunhat 9y agoCan you, in one sentence, explain what Tezos is? Something of the form: Uber - Order a taxi with your phone Facebook - Connect with your friends online Google - Find stuff on the internet Wikipedia - An encyclopedia that anyone can edit Amazon - Buy stuff online, without going anywhere Tezos - ??? (And "Tezos is a new decentralized blockchain that governs itself by establishing a true digital commonwealth" doesn't count as an explanation).
- taysic 9y agoIt's a competitor to ethereum - a place to create more ICOs basically from what I understand. Maybe they're running out of ideas
- discombobulate 9y agoToken sales may end up being worth a ton of money. There's going to be competition.
- dsfjksdf 9y agoIt's Ethereum with the claim of having a better language for the contracts (enabling automatic verification). I don't think it makes that much sense, after all, you could also create another language that compiles to Solidity, and that is verifiable. I mean it is OK, just not as much of an improvement as they make it sound.