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Yep, only accredited investors could buy Filecoin at the ICO. The rest of us can still buy Siacoin which is similar. I don't think these VC-backed cryptocurren

Yep, only accredited investors could buy Filecoin at the ICO. The rest of us can still buy Siacoin which is similar. I don't think these VC-backed cryptocurrencies will win in the long term. It's the same principle as with stocks, cryptocurrencies are going to work in favour those who understand them the most; in this case, developers. The mission of cryptocurrencies is to take control away from finance people. Hobbyist developers are going to decide which cryptocurrencies deserve their precious development time. Cryptocurrencies are all about the tooling and infrastructure around them.

chii 9y ago
> in this case, developers. i dont think developers are the ones who will profit - after all, developers are the ones who wrote the code for a lot of financial institutions, and none of them gain much more than just a salary.
- jmknoll 9y ago
  At the same time though, 3 of the 5 largest companies in the US have CEOs with a background in software development/computer science. 5 years ago, 0 of 10 did. There's definitely a trend toward developers having more power.
  - jamespo 9y ago
    That trend started further back than the last couple of years, as billg can confirm.
  - chii 9y ago
    and yet, are those CEO's doing dev when they are being paid their large sums of money? They may have learnt something as a developer, but _doing_ development isn't their major money making activity.
    - icebraining 9y ago
      jondubois said understand, not do.
  - FireBeyond 9y ago
    Not to be contrary, but "citation"? This (https://en.wikipedia.org/wiki/List_of_largest_companies_by_revenue https://en.wikipedia.org/wiki/List_of_largest_companies_by_r...) lists the 5 largest companies in the US as: 1. Walmart 2. Berkshire Hathaway 3. Apple 4. Exxon Mobil 5. McKesson Walmart's CEO, Doug McMillon, career at Walmart was in distribution and then buying before moving to the executive. Buffett had a background in business admin, economics and insurance. Tim Cook has that CS background. Daren Woods of Exxon Mobil has a degree in Electrical Engineering in the early 80s, which might be at best half a point. John Hammergren of McKesson has a pure business background, with a Bachelors and Masters in Business Administration.
    - davidwparker 9y ago
      Depends on your definition of "largest company". Revenue is one metric. Market cap is another. https://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization#2017 https://en.wikipedia.org/wiki/List_of_public_corporations_by... 1. Apple 2. Alphabet 3. Microsoft 4. Amazon 5. Berkshire Hathaway
    - sah2ed 9y ago
      I think the poster's metric was largest in terms of capitalization and not revenue. The top 5 in terms of capitalization: 1. Apple 2. Alphabet 3. Microsoft 4. Amazon 5. Berkshire Hathaway https://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization#2017 https://en.wikipedia.org/wiki/List_of_public_corporations_by...
    - microtherion 9y ago
      > Tim Cook has that CS background. Does he? He certainly has decades of experience in computer companies, but his educational background was, to my knowledge, in industrial engineering.
- teekert 9y ago
  Well you'd be a fool not to do or negotiate some mining upfront.
igorgue 9y ago
Finally a voice of reason in this thread... Man so much hate, somebody is jealous. And is not investors they're putting their money here with liquidity in days not years, and no board seats so you can just chill... I love it.

chii 9y ago

> in this case, developers. i dont think developers are the ones who will profit - after all, developers are the ones who wrote the code for a lot of financial institutions, and none of them gain much more than just a salary.

jmknoll 9y ago
At the same time though, 3 of the 5 largest companies in the US have CEOs with a background in software development/computer science. 5 years ago, 0 of 10 did. There's definitely a trend toward developers having more power.
- jamespo 9y ago
  That trend started further back than the last couple of years, as billg can confirm.
- chii 9y ago
  and yet, are those CEO's doing dev when they are being paid their large sums of money? They may have learnt something as a developer, but _doing_ development isn't their major money making activity.
  - icebraining 9y ago
    jondubois said understand, not do.
- FireBeyond 9y ago
  Not to be contrary, but "citation"? This (https://en.wikipedia.org/wiki/List_of_largest_companies_by_revenue https://en.wikipedia.org/wiki/List_of_largest_companies_by_r...) lists the 5 largest companies in the US as: 1. Walmart 2. Berkshire Hathaway 3. Apple 4. Exxon Mobil 5. McKesson Walmart's CEO, Doug McMillon, career at Walmart was in distribution and then buying before moving to the executive. Buffett had a background in business admin, economics and insurance. Tim Cook has that CS background. Daren Woods of Exxon Mobil has a degree in Electrical Engineering in the early 80s, which might be at best half a point. John Hammergren of McKesson has a pure business background, with a Bachelors and Masters in Business Administration.
  - davidwparker 9y ago
    Depends on your definition of "largest company". Revenue is one metric. Market cap is another. https://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization#2017 https://en.wikipedia.org/wiki/List_of_public_corporations_by... 1. Apple 2. Alphabet 3. Microsoft 4. Amazon 5. Berkshire Hathaway
  - sah2ed 9y ago
    I think the poster's metric was largest in terms of capitalization and not revenue. The top 5 in terms of capitalization: 1. Apple 2. Alphabet 3. Microsoft 4. Amazon 5. Berkshire Hathaway https://en.wikipedia.org/wiki/List_of_public_corporations_by_market_capitalization#2017 https://en.wikipedia.org/wiki/List_of_public_corporations_by...
  - microtherion 9y ago
    > Tim Cook has that CS background. Does he? He certainly has decades of experience in computer companies, but his educational background was, to my knowledge, in industrial engineering.
teekert 9y ago
Well you'd be a fool not to do or negotiate some mining upfront.

igorgue 9y ago

Finally a voice of reason in this thread... Man so much hate, somebody is jealous. And is not investors they're putting their money here with liquidity in days not years, and no board seats so you can just chill... I love it.