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What bugs me the most about the whole ICO game is that it casts a long dark shadow about the whole blockchain stuff. Storj as well as other ideas in the realm a

What bugs me the most about the whole ICO game is that it casts a long dark shadow about the whole blockchain stuff. Storj as well as other ideas in the realm are based on great ideas and I'd love to see them succeed. However, that Storj was able to obtain $30M in funding is really just awful. Sooner or later the cryptocoin market will crash and when this day comes and those projects still have no inherent value a lot of people will be pissed and leave the whole blockchain thing.

blfr 9y ago
People didn't leave the Internet because of the dot com bubble burst. If blockchain has an advantage over more centralized approaches, it will bounce back as well.
- dna_polymerase 9y ago
  In the dotcom bust investors lost their money, not the users. In the crypto world you are an user when you are invested (in smaller or larger extent). I agree, if blockchain apps really prove to be more powerful a possible bust won't really hurt, but in this state we are right now (no real world adoption for most of the stuff) a bust would be toxic.
  - JetSpiegel 9y ago
    In this ICO bubble clueless investors are losing their money too. There's enough scams to go around for everyone.
- noway421 9y ago
  Blockchain, as a technology of its own, is not that interesting. Bitcoin and cryptocurrencies around it is what makes everyone excited
smokeyj 9y ago
Unless you're an active investor who is nuanced on the details of the protocols, just don't worry about it. You'll wake up one day, back up your files to the new cloud, you'll pay using some crypto app - and you'll have no idea that decentralization was ever involved.
- pjc50 9y ago
  When it goes wrong, and you're wondering who to complain to, then the decentralisation might start to matter.
  - smokeyj 9y ago
    Says the guy posting via HTTP over TCP. Like I said, just don't worry about it. It'll be kid proof in 10 years. The rules for being a smart investor haven't changed. If you want low risk safe investments then no one is selling you on ICOs. It's like people on the sideline want "some of that Internet money" without taking any risk. That's not how high risk ventures work. So explain to me what people are complaining about?
  - nine_k 9y ago
    Ever tried reaching Google tech support? Centralization can make an individual customer, even paying say $10/year, too small.
pazimzadeh 9y ago
Presumably that money will keep circulating once it's spent, so is it really so bad?
- jonathankoren 9y ago
  Because the money was defrauded. That's a huge point. The fact that "money will keep circulating" is irrelevant. It's like saying, "Sure, the thief took your money, but you shouldn't say it's 'gone'. He spent the money on booze and cigarettes, and then the store owner spent it on rent and food. So you see? The money isn't really gone, it's circulating and increasing value for everyone!"

blfr 9y ago

People didn't leave the Internet because of the dot com bubble burst. If blockchain has an advantage over more centralized approaches, it will bounce back as well.

dna_polymerase 9y ago
In the dotcom bust investors lost their money, not the users. In the crypto world you are an user when you are invested (in smaller or larger extent). I agree, if blockchain apps really prove to be more powerful a possible bust won't really hurt, but in this state we are right now (no real world adoption for most of the stuff) a bust would be toxic.
- JetSpiegel 9y ago
  In this ICO bubble clueless investors are losing their money too. There's enough scams to go around for everyone.
noway421 9y ago
Blockchain, as a technology of its own, is not that interesting. Bitcoin and cryptocurrencies around it is what makes everyone excited

smokeyj 9y ago

Unless you're an active investor who is nuanced on the details of the protocols, just don't worry about it. You'll wake up one day, back up your files to the new cloud, you'll pay using some crypto app - and you'll have no idea that decentralization was ever involved.

pjc50 9y ago
When it goes wrong, and you're wondering who to complain to, then the decentralisation might start to matter.
- smokeyj 9y ago
  Says the guy posting via HTTP over TCP. Like I said, just don't worry about it. It'll be kid proof in 10 years. The rules for being a smart investor haven't changed. If you want low risk safe investments then no one is selling you on ICOs. It's like people on the sideline want "some of that Internet money" without taking any risk. That's not how high risk ventures work. So explain to me what people are complaining about?
- nine_k 9y ago
  Ever tried reaching Google tech support? Centralization can make an individual customer, even paying say $10/year, too small.

pazimzadeh 9y ago

Presumably that money will keep circulating once it's spent, so is it really so bad?

jonathankoren 9y ago
Because the money was defrauded. That's a huge point. The fact that "money will keep circulating" is irrelevant. It's like saying, "Sure, the thief took your money, but you shouldn't say it's 'gone'. He spent the money on booze and cigarettes, and then the store owner spent it on rent and food. So you see? The money isn't really gone, it's circulating and increasing value for everyone!"