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Before bashing the ICO model, consider that an ICO really is just (1) crowdfunding (with a blockchain to keep track of the tokens) combined with (2) markets to
by mrb 9y ago
Before bashing the ICO model, consider that an ICO really is just (1) crowdfunding (with a blockchain to keep track of the tokens) combined with (2) markets to trade said tokens.
So are you against (1) crowdfunding, Kickstarter, etc?
Or are you against (2) token trading markets?
- klipt 9y agoI'm against crowdfunding that masquerades as investment. People should know there's a high chance of 0 return and complete loss of principle with something like Kickstarter; it's better to think of it as patronage of artists you like with a small chance of something back.
- wheelerwj 9y agoi think you mean to say that you're against token trading that masquerades as crowdunding. i agree, its a problem. but its solveable.
- amluto 9y agoWhen you buy a doohickey on Kickstarter, it's just like buying from a normal vendor except that you accept the risk that it might never arrive. When you buy a magic token on the average ICO, you're usually buying an interest in some future business that you hope to resell at a profit. One of these is a doohickey. The other sounds awfully like a security...