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I still don't understand how so much money gets raised for these ICOs in the first place. Then I remember people are often stupid and many other people like ta

I still don't understand how so much money gets raised for these ICOs in the first place. Then I remember people are often stupid and many other people like taking advantage of stupidity.

product50 9y ago
And then you look at Ethereum which is a $90B valuation and also wonder if it can have competitors. Tezos is a full fledged Eth competitor with its own USPs.
- jameskegel 9y ago
  >tezos is a full fledged Eth competitor This is inaccurate
  - product50 9y ago
    No it is not. Read about tezos and then come back.
    - jameskegel 9y ago
      I'm back, and forgive me if we're going in circles here, but I still am confident in my assertion. Is there something specific that you know that the general public does not?
      - product50 9y ago
        It is fine. I don't want to feed ignorance here. It is pretty clear you have no idea what Tezos is and haven't done any bit of cursory research on it. And, to folks like you, my only advise is to wait and watch for the token to be released and then you will witness how it competes with Eth ecosystem.
        jameskegel 9y ago
        You resort to personal attacks; is this to say that you’re unable to factually substantiate your assertions?
        product50 9y ago
        It is not an attack. I just don't want to spend my educating folks who aren't willing to help themselves. Just read their whitepaper or any of the 100s of youtube videos on tezos and you will discover that it is a full fledged Ethereum competitor.
- edshiro 9y ago
  Ethereum has competition. Look at NEO (https://neo.org/ https://neo.org/).
- nugget 9y ago
  Given that Ethereum is open source, the real value comes from their ecosystem (broadly defined). What if Microsoft branched Ethereum and created MicroCoins, and moved a few hundred developers and researchers from Microsoft Research onto the project, and then created incentives to rapidly scale up miners and other parts of the ecosystem. Would they create $xx billion in value? Crypto prices could continue to rise, and since I own a few coins and tokens for fun, I guess I should hope they do. But I've never understood how valuations so high can be supported given the relatively low barriers to entry (relative to multi-billion dollar valuations). I'd define myself as soft skeptic - I acknowledge I could be wrong and undervaluing first-mover advantage. I just don't understand how or why.
pmcpinto 9y ago
I think a lot of people invested just because FOMO
- ericb 9y ago
  While there are surely FOMO investors in any ICO, there's a really rational case for Tezos. It potentially solves the governance issues bitcoin had as well as offering provable smart contracts, which helps alleviate the constantly-hacked problem with ethereum smart contracts. In terms of the amount raised, I invested because the coldly rational math of what a market-cap competitive with wither of those would mean for the token value gave really great pot-odds to a "donation." This was the first project I ever saw where the developer pitched the source code to hacker news fore review, rather than a whitepaper to a coin sale.

I still don't understand how so much money gets raised for these ICOs in the first place. Then I remember people are often stupid and many other people like taking advantage of stupidity.

product50 9y ago

And then you look at Ethereum which is a $90B valuation and also wonder if it can have competitors. Tezos is a full fledged Eth competitor with its own USPs.

jameskegel 9y ago
>tezos is a full fledged Eth competitor This is inaccurate
- product50 9y ago
  No it is not. Read about tezos and then come back.
  - jameskegel 9y ago
    I'm back, and forgive me if we're going in circles here, but I still am confident in my assertion. Is there something specific that you know that the general public does not?
    - product50 9y ago
      It is fine. I don't want to feed ignorance here. It is pretty clear you have no idea what Tezos is and haven't done any bit of cursory research on it. And, to folks like you, my only advise is to wait and watch for the token to be released and then you will witness how it competes with Eth ecosystem.
      - jameskegel 9y ago
        You resort to personal attacks; is this to say that you’re unable to factually substantiate your assertions?
        product50 9y ago
        It is not an attack. I just don't want to spend my educating folks who aren't willing to help themselves. Just read their whitepaper or any of the 100s of youtube videos on tezos and you will discover that it is a full fledged Ethereum competitor.
edshiro 9y ago
Ethereum has competition. Look at NEO (https://neo.org/ https://neo.org/).
nugget 9y ago
Given that Ethereum is open source, the real value comes from their ecosystem (broadly defined). What if Microsoft branched Ethereum and created MicroCoins, and moved a few hundred developers and researchers from Microsoft Research onto the project, and then created incentives to rapidly scale up miners and other parts of the ecosystem. Would they create $xx billion in value? Crypto prices could continue to rise, and since I own a few coins and tokens for fun, I guess I should hope they do. But I've never understood how valuations so high can be supported given the relatively low barriers to entry (relative to multi-billion dollar valuations). I'd define myself as soft skeptic - I acknowledge I could be wrong and undervaluing first-mover advantage. I just don't understand how or why.

pmcpinto 9y ago

I think a lot of people invested just because FOMO

ericb 9y ago
While there are surely FOMO investors in any ICO, there's a really rational case for Tezos. It potentially solves the governance issues bitcoin had as well as offering provable smart contracts, which helps alleviate the constantly-hacked problem with ethereum smart contracts. In terms of the amount raised, I invested because the coldly rational math of what a market-cap competitive with wither of those would mean for the token value gave really great pot-odds to a "donation." This was the first project I ever saw where the developer pitched the source code to hacker news fore review, rather than a whitepaper to a coin sale.