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This doesn't pass the sniff test. That's 1/10th the amount raised by Facebook IPO. Facebook, the heir apparent to Google-sized Silicon Valley domination, whic
by khazhoux 9y ago
This doesn't pass the sniff test.
That's 1/10th the amount raised by Facebook IPO. Facebook, the heir apparent to Google-sized Silicon Valley domination, which everybody and their mother knew about, and which every(ish) investor wanted a piece of.
And here we have Telegram, a niche product using an experimental financing scheme and a technology that many are skeptical of. Yet somehow they convinced people to the tune of 1/10th FB?
Only way this adds up is if people bought the tokens using Bitcoin (with its very fuzzy and hard-to-liquidate value), and the SEC filing reports that towards the "amount raised."
- SI_Rob 9y agoI'm inclined to agree that this doesn't seem to add up, but I don't think that matters much any more. There seems to be a transition taking place in which exaggerated, thinly-supported 'market cap'-based value metrics, the fundamentals of which are largely opaque to outside analysis (almost all being derived from coinmarketcap, a single centralized aggregator site), are the new normal. Peeling this onion apart would require what seems an unlikely pairing of extremely high cryptocurrency domain competence and extraordinary resistance to corruption.