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What 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?
by honestlyreally 9y ago
What 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