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You can buy a piece of a startup, and that has risk, but you take on that risk. When you buy tokens, you're buying nothing. So - ownership of something that m
by alexasmyths 9y ago
You can buy a piece of a startup, and that has risk, but you take on that risk.
When you buy tokens, you're buying nothing.
So - ownership of something that may have value, vs. ownership of nothing.
- eru 9y agoI don't get it. A company _is_ a fiction, too. And that fictional nature is very close to the surface in a startup. Especially when you add in vesting schedules, dilution, getting squeezed out, etc. (For more established companies, their equity's value works more like bitcoin: they might still go bankrupt and be worthless in eg thirty years, but they are unlikely to totally crash in the next few months.)