3 ms·
>have too many shareholders to let them pivot Token purchasers in ICOs aren't shareholders. >100s of retail shareholders demanding progress on the idea they o
by to_bpr 8y ago
>have too many shareholders to let them pivot
Token purchasers in ICOs aren't shareholders.
>100s of retail shareholders demanding progress on the idea they originally backed.
They have no guarantee or protections when buying into an ICO. They may try to pivot and get some disgruntled worthless-token-holders as a result, but if crypto has shown anything it's that even outright scams will maintain an unfortunately strong community of supporters.
- tlb 8y agoOK, "stakeholders". Can you point to an example of a company successfully pivoting after an ICO?
- CPLX 8y agoI've seen a few pivot from "what they said they were going to do" to "we just took all your money thx".
- celticninja 8y agoThis is similar to how people raising money on crowdfunding sites decide to change/improve the product after beating their targets. This also results in failure usually because they don't deliver the original product and don't really know what they are doing except trying to spend the money they have raised.
- hapnin 8y agoBinance did an ICO last year. They made more money than Deutsche Bank did. But they're the exception in the scamsphere of Ethereum tokens.