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This is a form of ICO awareness accelerationism. I'm very cynical about ICO's, so this may be brash, but I automatically consider every ICO to be a scam outrigh
by hbosch 9y ago
This is a form of ICO awareness accelerationism. I'm very cynical about ICO's, so this may be brash, but I automatically consider every ICO to be a scam outright – if they were all this obvious the world would be a much better place, because people would finally stop participating in these ponzi-esque schemes.
What this guy's done, if it's true, is no worse than any other ICO who instead uses their funds to buy a house in the bay area and lease an SF office for a couple years and play ping pong until the cash runs out.
- JumpCrisscross 9y ago> I automatically consider every ICO to be a scam outright Welcome to 1933 [1], when America learned this about unregistered securities. [1] https://en.wikipedia.org/wiki/Securities_Act_of_1933 https://en.wikipedia.org/wiki/Securities_Act_of_1933
- Sangermaine 9y agoThe cryptocurrency scene has been people relearning why we have all these evil regulations in the first place.
- optimuspaul 9y agoYeah, it's kind of sad and funny to watch. Did they not pay attention in history class? Makes me mad that in the end all their playing "banking history" is probably going to cost me money in some indirect way.
- jessaustin 9y agoDid anyone learn anything about financial regulation in any history (or other) class in any USA public school? I certainly didn't. If we're relying on high school to keep the public solvent, the public's insolvency is no surprise.
- optimuspaul 9y agoI did. It was covered in high school economics and history. I remember it like it was yesterday and yet it was almost 30 years ago.
- orthecreedence 9y agoEveryone's a libertarian until something bad happens.
- cornoffering 9y agoI too consider every ICO to be an outright scam. That's actually what led me to build (shameless plug) https://initialcornoffering.com https://initialcornoffering.com, which pokes fun at many of the ICO anti-patterns I've seen.
- hood_syntax 9y agoI got a chuckle out of that
- antisthenes 9y agoLost it at 'cornpaper'. Thanks for the lighthearted take on the craziness!