4 ms·
Is unfair to call ISOs a casino. Casino are not outright scams and you know what you are paying for when going to a casino
by cashmonkey85 9y ago
Is unfair to call ISOs a casino. Casino are not outright scams and you know what you are paying for when going to a casino
- dragandj 9y agoICOs are more like a shell game. https://en.wikipedia.org/wiki/Shell_game https://en.wikipedia.org/wiki/Shell_game
- alexasmyths 9y agoAt a casino, you are paying ~5% on the dollar and getting some entertainment in return. With ICOs, in the long run, you might end up paying ~100% on the dollar and getting nothing in return. The asymmetry between those issuing 'coins' and those buying is considerably greater than the 'average losses' of 5-10% or whatever a gambler might have at a Casino. Also - a lot of Casinos end up losing money because they have to 'give too much away' to consumers in terms of the experience, food, drinks. More wealth-per-dollar will be transferred to investors from ICO's than at Casinos. Which is why Hedge Funds are lining up to back ICOs - and not Casinos - it's a better return for them.