4 ms·

You mean to tell me that investors don't actually want their digital Beanie Babies and are trying to pitch them to suckers after getting them cheap to make mone

You mean to tell me that investors don't actually want their digital Beanie Babies and are trying to pitch them to suckers after getting them cheap to make money? Colour me shocked. It's like nobody learned anything from the early 2000s.

pm90 9y ago
I don't think they forgot the lessons. Its just that the allure of quick money is just too great for many people. I think this might be why a lot of people get addicted to gambling, for instance. In this case, I think most people are aware its a bubble/ponzi scheme and are trying to "beat it" by making the most profit and getting out ASAP before the bust.
- deadmetheny 9y ago
  It's a shame that cryptocurrency/tokens are being abused in this way - they're an interesting technology with a lot of good use cases, but after enough ICO instances where people get burned I'm concerned there's gonna be a huge aversion to them by the general public.
  - dmitrygr 9y ago
    I keep hearing this. Can you give an example of a non-contrived use case that the world currently (1) needs and (2) lacks adequate solutions for as is?
    - dmichulke 9y ago
      Was an iPhone ever needed as an adequate solution to some problem?
      - vkou 9y ago
        BlackBerries not being all that good was a problem in search for a solution. You know, the BlackBerry? That smartphone that did everything that an iPhone could do, just a bit worse? Steve Jobs didn't exactly envision the iPhone wholesale, on the seventh day of Genesis.
    - whataretensors 9y ago
      Anonymous currencies. Dash, monero, zcash. Feeless transactions. IOTA Fog/Mist computing. SNM, Golem Decentralized marketplaces. Many, syscoin is my favorite. Identity tracking for IOT. Centralized solutions might exist, but WTC and the like are interesting. Decentralized governance. DASH, Lisk, more
      - mikkel 9y ago
        World computer - Ethereum, NEO, EOS, Waves, many more Banking the unbankable - Airfox, VVToken, likely others More efficient advertisement - BAT, AdEx Paying content creators - Steem Distributed file storage - FileCoin, MaidSafe, Storj Uncensorable internet - zencash BTC gets all the press for first mover advantage, but is really the worst of the bunch. This is not investment advice. It is quite exciting, however.
genericacct 9y ago
I am pretty sure a sizable chunk of current digicash "investors" were not even born in 2000. And we know there's one born every minute too..
dreit1 9y ago
People that speak gloom and doom don't realize how many cryptocurrencies have already crashed and burned (from an investment standpoint). This market is absolutely ruthless, and any investor doubt is quickly seen in the market. Examples (Percent down from peak) BitShares - 80% SiaCoin - 60% Factom - 40% Numeraire - 90% Monaco - 65% The list goes on. So for everyone who says this bubble is going to pop, I disagree. Bubbles pop every day in the crypto markets because there is absolutely no market more efficient than cryptocurrency. The strongest coins always win out in the end

pm90 9y ago

I don't think they forgot the lessons. Its just that the allure of quick money is just too great for many people. I think this might be why a lot of people get addicted to gambling, for instance. In this case, I think most people are aware its a bubble/ponzi scheme and are trying to "beat it" by making the most profit and getting out ASAP before the bust.

deadmetheny 9y ago
It's a shame that cryptocurrency/tokens are being abused in this way - they're an interesting technology with a lot of good use cases, but after enough ICO instances where people get burned I'm concerned there's gonna be a huge aversion to them by the general public.
- dmitrygr 9y ago
  I keep hearing this. Can you give an example of a non-contrived use case that the world currently (1) needs and (2) lacks adequate solutions for as is?
  - dmichulke 9y ago
    Was an iPhone ever needed as an adequate solution to some problem?
    - vkou 9y ago
      BlackBerries not being all that good was a problem in search for a solution. You know, the BlackBerry? That smartphone that did everything that an iPhone could do, just a bit worse? Steve Jobs didn't exactly envision the iPhone wholesale, on the seventh day of Genesis.
  - whataretensors 9y ago
    Anonymous currencies. Dash, monero, zcash. Feeless transactions. IOTA Fog/Mist computing. SNM, Golem Decentralized marketplaces. Many, syscoin is my favorite. Identity tracking for IOT. Centralized solutions might exist, but WTC and the like are interesting. Decentralized governance. DASH, Lisk, more
    - mikkel 9y ago
      World computer - Ethereum, NEO, EOS, Waves, many more Banking the unbankable - Airfox, VVToken, likely others More efficient advertisement - BAT, AdEx Paying content creators - Steem Distributed file storage - FileCoin, MaidSafe, Storj Uncensorable internet - zencash BTC gets all the press for first mover advantage, but is really the worst of the bunch. This is not investment advice. It is quite exciting, however.

genericacct 9y ago

I am pretty sure a sizable chunk of current digicash "investors" were not even born in 2000. And we know there's one born every minute too..

dreit1 9y ago

People that speak gloom and doom don't realize how many cryptocurrencies have already crashed and burned (from an investment standpoint). This market is absolutely ruthless, and any investor doubt is quickly seen in the market. Examples (Percent down from peak) BitShares - 80% SiaCoin - 60% Factom - 40% Numeraire - 90% Monaco - 65% The list goes on. So for everyone who says this bubble is going to pop, I disagree. Bubbles pop every day in the crypto markets because there is absolutely no market more efficient than cryptocurrency. The strongest coins always win out in the end