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The ICO paradox and how to fix it

112 点作者 zherbert大约 7 年前

10 条评论

zitterbewegung大约 7 年前
The way to fix it is through enforcement of the SEC laws. We aren&#x27;t going to combat fraud without proper enforcement. The industry needs more regulation because right now most investors are getting fleeced and getting left with nothing because there is a large pool of unsophisticated investors.<p>This solution would give SIA the ability to regulate these ICOs and that has even more issues (what makes SIA authoritative)? SEC regulation even though seems like a bitter pill for people who are in the cryptocurrency space is needed for things to actually get done since every fraud basically turns away investors that actually want to fund a real project.
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zby大约 7 年前
ICOs are mostly useless - they are great for the founders but useless for investors. For now there is the hype that delivers new and new greater fools - but that will eventually stop and ICOs will face the hard reality of not being a very good at aligning the incentives of founders and investors. The problems are numerous - starting from the general problems of crowd-funding which can work for big companies (i.e. the traditional stock exchange way) - but is dismall for startups, to the specifics of ICOs which don&#x27;t actually offer any formal claim to investors. TSOs seem to stay at the &#x27;general problems of crowd-funding&#x27; level. There is also the theory that ICOs can enable funding of development of open protocols (think SMTP) so that the claim is on the network not on the company. I find this theory very vague.
pandalicious大约 7 年前
&gt;Utility tokens exist to provide access to a good or service on a decentralized, blockchain-based network. [...] Siacoin is specifically designed as a utility token and has never been used for fundraising.<p>And yet it looks and behaves exactly like a speculative vehicle, just like all the other crypto coins.
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CryptoPunk大约 7 年前
&gt;&gt;Counterintuitively, developing a working Y-Coin network may actually decrease YCN’s value, because it would increase YCN’s usage. This is because, in order to access network utility, Y-Coin users need to spend their YCN. This, in turn, increases YCN’s token velocity, which puts negative pressure on YCN’s price.<p>This is clearly wrong. Value comes from demand for the currency, which increases when there are non-speculative sources of demand, like having an amount of that currency on hand for use in payments.
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zherbert大约 7 年前
I&#x27;m the author, if anyone wants to discuss!
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rdlecler1大约 7 年前
With securities you’re limited to 2500 investors before you need to do a public registration.
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granaldo大约 7 年前
Massive correction like we see now <a href="https:&#x2F;&#x2F;www.coingecko.com&#x2F;en" rel="nofollow">https:&#x2F;&#x2F;www.coingecko.com&#x2F;en</a> is a good way for the market to readjust itself and wake up to all the ico greed is good
gomox大约 7 年前
Security token offerings (STOs) are steadily gaining popularity these days, as was predicted for 2018.<p>A few relevant projects if you are interested in this subject are:<p>* Securitize.io who assists companies in raising capital through STOs<p>* GBX.gi who is creating a security token exchange for vetted projects and an ecosystem to provide such vetting (based in Gibraltar, where they have regulatory support from authorities)<p>* Kairos, a company out of Miami who successfully did a security + utility token raise earlier this year.<p>That being said, valuations for these security tokens are still crypto-exuberant. I was on the phone today with a company with $1M in revenue raising $20M at $40M pre-money valuation (i.e. a 40x multiple for a company that has little to no growth rate and an unproven business model). In all honesty, even though the deal is bananas by conventional VC standards, I think they will probably raise that money very quickly.
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dmitrygr大约 7 年前
&gt; liquid capital in the form of Bitcoin, Ether<p>Not sure that you&#x27;re using the word &quot;liquid&quot; properly. Show me how you can convert $50M USD&#x27;s worth of BTC or ETH into USD in three business days or less.
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_greim_大约 7 年前
ICO: Initial Coin Offering<p><a href="https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Initial_coin_offering" rel="nofollow">https:&#x2F;&#x2F;en.wikipedia.org&#x2F;wiki&#x2F;Initial_coin_offering</a>
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