6 ms·

I can't remember a single ICO that has brought anything useful to the market yet. You can say Ethereum, but it wasn't an ICO properly speaking. Even if it was,

I can't remember a single ICO that has brought anything useful to the market yet. You can say Ethereum, but it wasn't an ICO properly speaking. Even if it was, a single good example in hundreds isn't enough. Ripple didn't have an ICO, Bitcoin Cash didn't, Zcash didn't, Monero didn't, Stellar didn't.

ashnyc 9y ago
zrcoin did. the market is still young but it can be a powerful tool where traditional VC are not present.
socratesone 9y ago
Wabi seems to be doing it right: https://www.wacoin.io/ https://www.wacoin.io/
- bpicolo 9y ago
  None of this product requires the blockchain though. They're applying RFIDs to baby formula. The currency is nothing but an unnecessary lock in
  - nerdponx 9y ago
    Well, you could use a generic blockchain to keep an audit trail of the label certification process. But yeah, special-purpose cryptocurrencies are just walled gardens in disguise.
corv 9y ago
Why wasn't Ethereum an ICO? Arguably that was the model for all other ICOs and the platform for the vast majority.
- ddon 9y ago
  Ethereum had an ICO, back in 2014: https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/ https://blog.ethereum.org/2014/07/22/launching-the-ether-sal...
chrisco255 9y ago
Qtum has shipped and met all its promises so far: https://qtum.org/en/ https://qtum.org/en/ Basic Attention Tokens are already integrated in Brave browser: https://basicattentiontoken.org/ https://basicattentiontoken.org/
- def_true_false 9y ago
  BAT is a borderline scam. Previous discussion here: https://news.ycombinator.com/item?id=15722299 https://news.ycombinator.com/item?id=15722299
deleted 9y ago
[deleted]
igorgue 9y ago
Who was born first the chicken or the egg? And Ethereum did a crowdsale. On Counterparty and Ommi. It’s literally in the first paragraph of their Wikipedia article: >> Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014.[5] The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale.[6] This accounts for approximately 13 percent of the total circulating supply
noddy1 9y ago
Ironically the only ethereum dApp which people actually use - EtherDelta decentralized exchange - was never ICO'd and makes piles of money. The incentives for token sales are to raise as much Eth as you can, spend as little of it as possible on the actual project while watching its value appreciate, then either have a product launch that semi-fails or have some good excuse why the project just couldn't work for some reason while minimizing the chance that people bring legal action against the project.

ashnyc 9y ago

zrcoin did. the market is still young but it can be a powerful tool where traditional VC are not present.

socratesone 9y ago

Wabi seems to be doing it right: https://www.wacoin.io/ https://www.wacoin.io/

bpicolo 9y ago
None of this product requires the blockchain though. They're applying RFIDs to baby formula. The currency is nothing but an unnecessary lock in
- nerdponx 9y ago
  Well, you could use a generic blockchain to keep an audit trail of the label certification process. But yeah, special-purpose cryptocurrencies are just walled gardens in disguise.

corv 9y ago

Why wasn't Ethereum an ICO? Arguably that was the model for all other ICOs and the platform for the vast majority.

ddon 9y ago
Ethereum had an ICO, back in 2014: https://blog.ethereum.org/2014/07/22/launching-the-ether-sale/ https://blog.ethereum.org/2014/07/22/launching-the-ether-sal...

chrisco255 9y ago

Qtum has shipped and met all its promises so far: https://qtum.org/en/ https://qtum.org/en/ Basic Attention Tokens are already integrated in Brave browser: https://basicattentiontoken.org/ https://basicattentiontoken.org/

def_true_false 9y ago
BAT is a borderline scam. Previous discussion here: https://news.ycombinator.com/item?id=15722299 https://news.ycombinator.com/item?id=15722299

deleted 9y ago

[deleted]

igorgue 9y ago

Who was born first the chicken or the egg? And Ethereum did a crowdsale. On Counterparty and Ommi. It’s literally in the first paragraph of their Wikipedia article: >> Ethereum was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was funded by an online crowdsale between July and August 2014.[5] The system went live on 30 July 2015, with 11.9 million coins "premined" for the crowdsale.[6] This accounts for approximately 13 percent of the total circulating supply

noddy1 9y ago

Ironically the only ethereum dApp which people actually use - EtherDelta decentralized exchange - was never ICO'd and makes piles of money. The incentives for token sales are to raise as much Eth as you can, spend as little of it as possible on the actual project while watching its value appreciate, then either have a product launch that semi-fails or have some good excuse why the project just couldn't work for some reason while minimizing the chance that people bring legal action against the project.