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just like the market corrected after Bitcoin hit 1$ the first time 10$ the first time 100$ the first time 1000$ the first time. 8000$ the first time. Sure mar

by mrwong 9y ago

just like the market corrected after Bitcoin hit 1$ the first time 10$ the first time 100$ the first time 1000$ the first time. 8000$ the first time. Sure markets correct, but somehow the ride continued. I love how Silicon Valley was ridiculing industries like print, brick and mortar commerce and old-media for not adopting to the new future technologies. But now that something appeared that challenges SVs status quo, they do just the same and dismiss it. I think this shows that legacy thinking is a psychological problem and not an IQ problem.

guiomie 9y ago
I find quite entertaining how you just generalized every company and individual in SV as dismissing crypto. There is no undenying VCs have always been a central part of SV, and tons of them are invested in blockchain companies, their are tons of blockchain startups in SF/SV and some big tech companies like Microsoft are also involved.
mbaha 9y ago
Couldn't agree more. Although to be more precise, ETH/ICOs are threatening the standard financing model proper in Silicon Valley, and not SV as a whole. I basically see the future as being both really dystopic and utopic at the same time: So (mostly rich) people will be able to invest their money without any friction, but this will destroy the rent-seeking institutions that weren't meant to exist in the first place => power to the geeks and the rich, but you won't be able to make any money by just making "deals". Would love to be convinced otherwise though....
- alexasmyths 9y ago
  "ETH/ICOs are threatening the standard financing model" ICOs are challenging nothing. ICOers are selling 'numbers' for real money - and the value of those 'numbers' is going to zero pretty quickly. BTC will be around for a while, but these ICO-ers are selling nothing in return for real money, and that won't last. It will end soon. Nobody has a 'lock' on the 'VC' model. Anyone can invest - including you. The issue relates mostly to regulations, which are there to protect you - and also actual ownership of assets, which is a pretty big deal.

by mrwong 9y ago

guiomie 9y ago

I find quite entertaining how you just generalized every company and individual in SV as dismissing crypto. There is no undenying VCs have always been a central part of SV, and tons of them are invested in blockchain companies, their are tons of blockchain startups in SF/SV and some big tech companies like Microsoft are also involved.

mbaha 9y ago

Couldn't agree more. Although to be more precise, ETH/ICOs are threatening the standard financing model proper in Silicon Valley, and not SV as a whole. I basically see the future as being both really dystopic and utopic at the same time: So (mostly rich) people will be able to invest their money without any friction, but this will destroy the rent-seeking institutions that weren't meant to exist in the first place => power to the geeks and the rich, but you won't be able to make any money by just making "deals". Would love to be convinced otherwise though....

alexasmyths 9y ago
"ETH/ICOs are threatening the standard financing model" ICOs are challenging nothing. ICOers are selling 'numbers' for real money - and the value of those 'numbers' is going to zero pretty quickly. BTC will be around for a while, but these ICO-ers are selling nothing in return for real money, and that won't last. It will end soon. Nobody has a 'lock' on the 'VC' model. Anyone can invest - including you. The issue relates mostly to regulations, which are there to protect you - and also actual ownership of assets, which is a pretty big deal.