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"Sure, when you first launch a business built using open source components, (...) you might start off looking a little like Red Hat. But if all goes well, you’l

"Sure, when you first launch a business built using open source components, (...) you might start off looking a little like Red Hat. But if all goes well, you’ll start to more resemble Facebook, GitHub, Amazon or Cumulus Networks as you layer in your own special something on top of the platform and deliver it as a service, or package it as an appliance." I sure hope not. The original intent of ICOs was to monetise open-source development, and now there are many great teams with huge treasure chests building great software, funding research and providing grants for anyone wanting to work on blockchain and the wider web3 ecosystem without having to go through a token offering, given the current sad state of affairs. I know this isn't necessarily appealing for everyone, but for those interested: https://blog.ethereum.org/2018/10/15/ethereum-foundation-grants-update-wave-4/ https://blog.ethereum.org/2018/10/15/ethereum-foundation-gra... https://blog.aragon.org/tag/nest/ https://blog.aragon.org/tag/nest/

empath75 8y ago
I’m pretty sure the original intent of ico’s was to figure out a way to rip off investors by issuing unregulated securities.
- olivermarks 8y ago
  I disagree. The original intent for ICO's was (and is) honorable, as is crowd funding. We have to get out of this mindset that ICO's are inherently fraudulent. The early days of the internet were rife with scams and fraud (and it still is). That doesn't make the internet 'a way to figure out how to rip people off'. The big banks would love everyone to think ICO's are wild west country, just as the early days of open source were laughed out of the room as crazy give aways of ip. Look were we are now with Oracle 'openworld' a few years later...
- decentralised 8y ago
  It was really to fund research and development of open-source cryptographic protocols which are usually out of the VCs radars. The mechanism used was itself a revolutionary development, fungible digital tokens (ERC20). There are new protocols for fundraising that are designed to give token holders more control over the disbursement of rewards to the development teams but the wider market still needs a good cleanup imho.

empath75 8y ago

I’m pretty sure the original intent of ico’s was to figure out a way to rip off investors by issuing unregulated securities.

olivermarks 8y ago
I disagree. The original intent for ICO's was (and is) honorable, as is crowd funding. We have to get out of this mindset that ICO's are inherently fraudulent. The early days of the internet were rife with scams and fraud (and it still is). That doesn't make the internet 'a way to figure out how to rip people off'. The big banks would love everyone to think ICO's are wild west country, just as the early days of open source were laughed out of the room as crazy give aways of ip. Look were we are now with Oracle 'openworld' a few years later...
decentralised 8y ago
It was really to fund research and development of open-source cryptographic protocols which are usually out of the VCs radars. The mechanism used was itself a revolutionary development, fungible digital tokens (ERC20). There are new protocols for fundraising that are designed to give token holders more control over the disbursement of rewards to the development teams but the wider market still needs a good cleanup imho.