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> “One of the trends that bothers me about Silicon Valley,” he continued, is that “more and more of the wealth creation here is not available to most people, an

> “One of the trends that bothers me about Silicon Valley,” he continued, is that “more and more of the wealth creation here is not available to most people, and I think that’s very bad in a society with already so much wealth inequality. If there’s a way that new technology can make it practical and possible to democratize this, I think that’d be great.” Wow. Just wow. Looks like 2017 is the year when VCs publicly started adopting the pump-and-dump positions.

quuquuquu 9y ago
"Remember 1999? Yeah, those companies were 'bad companies'. And the banks that brought them to IPO are 'bad people'. They knowingly peddled their stock to the public market. Grandma lost her 401k because of them. But you see us? We're 'good people'. Our companies are 'good companies'. We 'generate wealth'. And an ICO is a great way to facilitate sales of stock a large, global, but ahem 'private' market."
smokeyj 9y ago
I think the people who laughed at blockchain tech for years now are having a cognitive dissonance moment, when they slowly see this technology seeping into traditional spaces. "It must be a bubble! It's a tulip scheme!" they proclaim, clinging to their last shred of dignity, as they fail to predict the inevitable future one more time.
- notyourday 9y ago
  I think you have a fundamental misunderstanding of a difference between " a blockchain " (the technology) and "Let people who see others making money hands over fist on a blockchain participate. I have this thing" (the fraud).
  - smokeyj 9y ago
    Blockchain the currency and blockchain the equity/bond/token were inevitable. The crypto world isn't concerned with traditional finance and their legacy rules. The future is decentralized companies financed with decentralized currency. It seems the people most offended by this realization are those with authoritarian complexes with a desire to control the voluntary spending habits of their peers. Which is exactly why there's demand for this new freedom money. Stop telling me how to spend and how to invest. I'm not your child and this isn't your money.
    - Retric 9y ago
      Even Bitcon has become surprisingly centralized due to ASIC miners. The simple truth is coins are 100% zero sum, so without utility they are limited to pyramid schemes. So, yes in theory you could make a useful currency. But, nobody seems to be focused on low cost, ultra high transaction rates, anonymous transactions, etc. It's all pump and dump.

quuquuquu 9y ago

"Remember 1999? Yeah, those companies were 'bad companies'. And the banks that brought them to IPO are 'bad people'. They knowingly peddled their stock to the public market. Grandma lost her 401k because of them. But you see us? We're 'good people'. Our companies are 'good companies'. We 'generate wealth'. And an ICO is a great way to facilitate sales of stock a large, global, but ahem 'private' market."

smokeyj 9y ago

I think the people who laughed at blockchain tech for years now are having a cognitive dissonance moment, when they slowly see this technology seeping into traditional spaces. "It must be a bubble! It's a tulip scheme!" they proclaim, clinging to their last shred of dignity, as they fail to predict the inevitable future one more time.

notyourday 9y ago
I think you have a fundamental misunderstanding of a difference between " a blockchain " (the technology) and "Let people who see others making money hands over fist on a blockchain participate. I have this thing" (the fraud).
- smokeyj 9y ago
  Blockchain the currency and blockchain the equity/bond/token were inevitable. The crypto world isn't concerned with traditional finance and their legacy rules. The future is decentralized companies financed with decentralized currency. It seems the people most offended by this realization are those with authoritarian complexes with a desire to control the voluntary spending habits of their peers. Which is exactly why there's demand for this new freedom money. Stop telling me how to spend and how to invest. I'm not your child and this isn't your money.
  - Retric 9y ago
    Even Bitcon has become surprisingly centralized due to ASIC miners. The simple truth is coins are 100% zero sum, so without utility they are limited to pyramid schemes. So, yes in theory you could make a useful currency. But, nobody seems to be focused on low cost, ultra high transaction rates, anonymous transactions, etc. It's all pump and dump.