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This doesn't appear to be an accurate description of the ICO market as it exists. The hardest work in ICOs is the marketing. At the back end, they literally put

This doesn't appear to be an accurate description of the ICO market as it exists. The hardest work in ICOs is the marketing. At the back end, they literally put in the fine print that the thing you just bought is worthless. https://davidgerard.co.uk/blockchain/icos-magic-beans-and-bubble-machines/ https://davidgerard.co.uk/blockchain/icos-magic-beans-and-bu... Look up the EOS fine print. They took down the PDF, but I kept a spare: https://davidgerard.co.uk/blockchain/references/EOS%20Token%20Purchase%20Agreement%20-%20June%2022,%202017.pdf https://davidgerard.co.uk/blockchain/references/EOS%20Token%... TODO this evening: write up a blog post on the ICO for (I am not making this up) synthetic rhino horn dick pills.

dingo_bat 9y ago
It's literally saying "Give us your money and we will give you nothing in return"! WTF?!
- davidgerard 9y ago
  And EOS has been one of the biggest ICOs. Also, despite the "no US citizens" bit, it's been advertising to the general public in the US (and in the UK). They are selling an ERC-20 magic bean to be traded on the bubble machines, and both buyers and sellers are going nod-nod wink-wink.
  - prostoalex 9y ago
    Offtopic, but I just finished reading your book, and you, sir, are very eloquent.