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I hold many assets in this space including ETH and NEO. There are tons of scams and money grabs with ICOs. While this announcement has been pretty brutal for me

I hold many assets in this space including ETH and NEO. There are tons of scams and money grabs with ICOs. While this announcement has been pretty brutal for me, I think it is ultimately a good thing for the industry as a whole. I think ICOs can be extremely beneficial for teams to raise money. But a lot of people buying these tokens do not understand what they're getting in return. I'd like to see it become easier to actually own equity or a % of a company's revenue by holding tokens. Hopefully these future regulations will build trust in the ecosystem by minimizing scams and providing clarity. More trust yields more people converting fiat -> crypto... which should yield a healthier less volatile ecosystem.

doktrin 9y ago
> I hold many assets in this space including ETH and NEO. There are tons of scams and money grabs with ICOs. Case in point, NEO is probably one of the scammiest so-called "crypto" offerings out there
- robotmay 9y ago
  How so? It has a lot of ties to industry already, good development, and plenty of evidence of delivering on their roadmap. That's already better than most crypto-currencies.
  - doktrin 9y ago
    > It has a lot of ties to industry already Like what? Every partnership or "tie" that I've ever heard of ends up being a rumor bordering on outright falsehood - like Microsoft (x2). 2 out of 3 ICOs they had announced prior to the ban ended up being delayed by 6 months or more, quite likely due to platform immaturity. > good development For an alpha / early stage crypto project, maybe. However they lack all the features that NEO actually brags about and the codebase is an untestable C# mess where core modules are more or less opaque to everyone but the main developer. It's a security nightmare waiting to happen, and a usability nightmare in the moment : building & publishing the simplest dapp on the platform is basically a non starter right now. > plenty of evidence of delivering on their roadmap Again, like what? The platform doesn't actually do anything yet. It basically consists of a few centralized servers and a centrally mined (and centrally owned) token. They're nowhere close to even delivering on dBFT itself, let alone high-concept stuff like mapping physical goods to a "digital identity". > That's already better than most crypto-currencies. Not if you compare it to other "currencies" in anything close to the same price range. Its valuation is far and away driven by clever marketing and uninformed speculation.
  - burger_moon 9y ago
    Is their website neo.org? Because that website won't load for me after about 5 minutes. Not exactly inspiring a lot of trust for someone who wants to learn about them.

doktrin 9y ago

> I hold many assets in this space including ETH and NEO. There are tons of scams and money grabs with ICOs. Case in point, NEO is probably one of the scammiest so-called "crypto" offerings out there

robotmay 9y ago
How so? It has a lot of ties to industry already, good development, and plenty of evidence of delivering on their roadmap. That's already better than most crypto-currencies.
- doktrin 9y ago
  > It has a lot of ties to industry already Like what? Every partnership or "tie" that I've ever heard of ends up being a rumor bordering on outright falsehood - like Microsoft (x2). 2 out of 3 ICOs they had announced prior to the ban ended up being delayed by 6 months or more, quite likely due to platform immaturity. > good development For an alpha / early stage crypto project, maybe. However they lack all the features that NEO actually brags about and the codebase is an untestable C# mess where core modules are more or less opaque to everyone but the main developer. It's a security nightmare waiting to happen, and a usability nightmare in the moment : building & publishing the simplest dapp on the platform is basically a non starter right now. > plenty of evidence of delivering on their roadmap Again, like what? The platform doesn't actually do anything yet. It basically consists of a few centralized servers and a centrally mined (and centrally owned) token. They're nowhere close to even delivering on dBFT itself, let alone high-concept stuff like mapping physical goods to a "digital identity". > That's already better than most crypto-currencies. Not if you compare it to other "currencies" in anything close to the same price range. Its valuation is far and away driven by clever marketing and uninformed speculation.
- burger_moon 9y ago
  Is their website neo.org? Because that website won't load for me after about 5 minutes. Not exactly inspiring a lot of trust for someone who wants to learn about them.