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> The OMG token sale, which raised $25 million, took place in July and initially one OMG token was worth around $0.27. Today, the value is at more than $11, giv
by ruytlm 9y ago
> The OMG token sale, which raised $25 million, took place in July and initially one OMG token was worth around $0.27. Today, the value is at more than $11, giving a return of more than 40X to anyone who bought in at the ICO stage.
> Another startling fact to note is that neither company has an actual product in the market right now. Although that is common with ICOs because investors buy into a product roadmap that will developed with the funds raised via the token sale.
No, don't worry, this isn't a bubble. We're just experiencing a speculative soapy-water sphere situation.
- imron 9y agoA billion dollar buy-in on a product roadmap. I need to start thinking of a few product roadmaps.
- austenallred 9y agoIt's not that simple. You also have to write a whitepaper.
- ehnto 9y agoI had a dream last night about managing a succesful company. The dream didn't show what the product was but anyway the initial buy in is 20c I look forward to working with you all doing what ever it is we might do.
- shalmanese 9y agohttps://www.youtube.com/watch?v=9LtT0xZ11wM https://www.youtube.com/watch?v=9LtT0xZ11wM
- rainboiboi 9y agoor copy and paste from someone else's
- imron 9y agoI'll put that on the roadmap!
- proofofstake 9y ago> No, don't worry, this isn't a bubble. Crypto is definitely a bubble. Perhaps one of the biggest bubbles to burst when this happens four to five years from now. > I need to start thinking of a few product roadmaps I know you are being facetious, but it really is not as simple as putting out a roadmap. Think about it: If you could pull this off, but are not doing it, you'll have us believe you are willingly turning down millions. If you can't pull it of, your comment becomes a cheap meaningless jab at things bigger than you. Both options are quite unbefitting of HackerNews. > You also have to write a whitepaper. http://plasma.io/ http://plasma.io/ Pay attention to mentions of "micropayments".
- Atheros 9y agoIt's not a question of turning down free millions of dollars. There is risk. If he puts his face on the operation he could be the subject of lawsuits if or when it blows up. It's also possible but very expensive to do an ICO and not violate securities laws. So he either puts fourth the massive time and capital to do it legally or he risks heavy fines and lawsuits. The lawsuits will probably come no matter what.