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Wow, this guy is biased! Brief selection of non-scammy ICOs: MakerDAO https://makerdao.com/ https://makerdao.com/ Ethereum https://ethereum.org/ https://ether

Wow, this guy is biased! Brief selection of non-scammy ICOs: MakerDAO https://makerdao.com/ https://makerdao.com/ Ethereum https://ethereum.org/ https://ethereum.org/ Cosmos https://cosmos.network/ https://cosmos.network/ Augur http://www.augur.net/ http://www.augur.net/ Binance Coin https://www.binance.com/ https://www.binance.com/ Basic Attention Token https://basicattentiontoken.org/ https://basicattentiontoken.org/ By non-scammy, I mean projects that 1) Raised money via ICO, 2) Delivered what they promised, and 3) [a huge bar!] are succeeding! Even if 99% are scams, the successes make up for the failures, which appears to be similar odds to normal startups. I would absolutely say that ICOs are way too founder-friendly, but to say every single one of them is a pump-and-dump scam is ridiculous. I would also say that VC funding is far too investor-friendly, and it makes me happy that the pendulum swung in the opposite direction for once. I think the market will find a better medium, which is what the SEC is proposing with their safe harbor. This author seems extremely unhappy that Bitcoin is about to hit $10,000. The "never-crypto" people are losing their minds...

arcticbull 7y ago
> Even if 99% are scams, the successes make up for the failures, which appears to be similar odds to normal startups. Which is exactly why we have accredited investor rules in the first place, to make sure mom and pop don’t lose their shirts to the 99% of hot garbage out there. This proposal is meant to make circumventing those rules easier. > This author seems extremely unhappy that Bitcoin is about to hit $10,000. The "never-crypto" people are losing their minds... Uh, I’m not sure you’re old enough to recall 2017 but the author (and I) definitely remember 10K. It’s not anger, it’s disappointment lol
davidgerard 7y ago
> Even if 99% are scams, the successes make up for the failures If you think regulators will put up with any field that's 99% scams, you are deeply incorrect in your understanding of anything about the world of actual money. I mean, seriously - you're going to go to the SEC and say "you should enable our fabulous investment field, it's only 99% crooks"? Not even Hester Peirce would give that one a pass. Everything you listed there is to squeeze yet more of the increasingly rare actualdollars from the most degenerate of crypto day traders. It's a "use case" insofar as it addresses problems created by using crypto in the first place.
- seibelj 7y ago
  The impression I get from you is someone who has made a niche career out of bashing this technology, but it will continue on regardless. Blockchain is unstoppable by the SEC or any other government regulator because it is decentralized. The blockchain / cryptocurrency industry is building a parallel financial system - one that requires no government intervention for capital allocation, money transfer, ownership, debt, and so on. Every year it gets more powerful and easier to use. You don't have to use this parallel financial system, but as the use-cases expand some people choose to use it. I'm very happy that neither regulators nor your whiny posts are capable of shutting down Bitcoin. It is an exciting experiment!

arcticbull 7y ago

> Even if 99% are scams, the successes make up for the failures, which appears to be similar odds to normal startups. Which is exactly why we have accredited investor rules in the first place, to make sure mom and pop don’t lose their shirts to the 99% of hot garbage out there. This proposal is meant to make circumventing those rules easier. > This author seems extremely unhappy that Bitcoin is about to hit $10,000. The "never-crypto" people are losing their minds... Uh, I’m not sure you’re old enough to recall 2017 but the author (and I) definitely remember 10K. It’s not anger, it’s disappointment lol

davidgerard 7y ago

> Even if 99% are scams, the successes make up for the failures If you think regulators will put up with any field that's 99% scams, you are deeply incorrect in your understanding of anything about the world of actual money. I mean, seriously - you're going to go to the SEC and say "you should enable our fabulous investment field, it's only 99% crooks"? Not even Hester Peirce would give that one a pass. Everything you listed there is to squeeze yet more of the increasingly rare actualdollars from the most degenerate of crypto day traders. It's a "use case" insofar as it addresses problems created by using crypto in the first place.

seibelj 7y ago
The impression I get from you is someone who has made a niche career out of bashing this technology, but it will continue on regardless. Blockchain is unstoppable by the SEC or any other government regulator because it is decentralized. The blockchain / cryptocurrency industry is building a parallel financial system - one that requires no government intervention for capital allocation, money transfer, ownership, debt, and so on. Every year it gets more powerful and easier to use. You don't have to use this parallel financial system, but as the use-cases expand some people choose to use it. I'm very happy that neither regulators nor your whiny posts are capable of shutting down Bitcoin. It is an exciting experiment!