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What? This is like every shit coin. Tons of them tank to near zero and deflate. Anyone who thinks these coins are legitimate are fooling themselves. They are bu
by rublev 9y ago
What? This is like every shit coin. Tons of them tank to near zero and deflate. Anyone who thinks these coins are legitimate are fooling themselves. They are built with one core requirement, do just enough to differentiate from other coins, pump it, get out.
The average person can't understand 99% of the specs of these coins, it's all speculation. The whole thing is a ponzi scheme.
- Karunamon 9y agoJust because some ICOs can be scams is no reason to write off the entire concept as a scam.
- user5994461 9y agoThe entire concept is a multi level marketing scheme.
- Karunamon 9y agoAnd this reductive reasoning can be applied to the stock market or for that matter any cryptocurrency - that doesn't make it right.
- kryptiskt 9y agoNo, when I buy stock the company has obligations to me as a shareholder. There is nothing but disclaimers if I buy into an ICO.
- 6nf 9y agoCompanies listed on the stock exchange are actually out there making things or providing services, employing people, and making money. Anyone and their dog can start an ICO with nothing but a website filled with fluff and bullcrap.
- whataretensors 9y agoNo, not all of it. It only appears that way before looking into it more.
- weej 9y agoWould love to hear more on legitimate use cases for blockchain (not being sarcastic) that cannot already be solved by centralized database, merkle trees and/or public key encryption.
- rublev 9y agoI think they meant that concept behind an ICO are a scam not that blockchain is.
- weej 9y agoThat's the problem. The investors for ICOs are backing on blockchain as if it's some amazing new innovation that's "going to change the world".
- notyourday 9y agoBlockchain is just a distributed public ledger. That's it. There are very few applications that have properties that can be mapped into a distributed public ledger.
- 9y ago
- s73ver_ 9y agoHow many of them have to be scams before we can? Cause it seems to be more than "some".
- deleted 9y ago[deleted]
- s17n 9y agoThere are reasons to write off the entire concept, though. Tokens are a stupid idea - universality is the whole point of currency. And it's pretty obvious that everybody who is promoting an ICO is doing it cause it's easy money (compared to more traditional means of raising capital), even if they are actually planning to build the product that they say they are. As a general rule of thumb, any Ethereum contract that doesn't use an oracle is probably stupid.
- random_rr 9y agoYeah, universality is the whole point of currency. That's definitely why every holiday season, millions of people buy gift cards to people's favorite stores. Please.
- dguaraglia 9y agoThis... this has nothing to do with universality :/
- s17n 9y ago1. Gift cards are dumb 2. If "the gift cards of the future" was the pitch for tokens, nobody would pay them any attention.
- s17n 9y agoAlso, gift cards are almost always denominated in terms of an actual currency.
- vasilipupkin 9y agohttps://hackernoon.com/ico-analysis-shitcoins-or-real-investments-5f6b63e96dfb?source=linkShare-3ef666994b11-1509582622 https://hackernoon.com/ico-analysis-shitcoins-or-real-invest...