So the new normal is write 2080 lines of code (less code than I write in a week) and raise $168 million or don't write any code and use someone else's code and raise $15 million:
Just stay away if you're not invested or slowly sell them without upsetting the price if you're holding them. You are missing the opportunity to invest in other more profitable prospects. Looking at github they have been working on these projects but without any solid results yet. So it might better to wait until they have something to show for and check of their assets are worth to invest in.
Such as Waves which apparently raised $15 million for vaporware and selling a crowdsale pitching IOHK's open source code (and which jl777 was said to be advisor):
https://bitcointalk.org/index.php?topic=1504381.msg15138357#msg15138357And Lisk which raised $10 million apparently still has problems in the functioning of the wallet:
https://bitcointalk.org/index.php?topic=1504381.msg15139560#msg15139560Or The DAO which raised $168 million with
only 2080 lines of sol code:
https://github.com/slockit/DAOSeems these days it is better to be good at marketing and selling ideas than actual code that is stable and ready for the launch.
Copy-cat ICO Schemes Unleashed:
You call stayed silent on that and we seen an explosion of copy cat ICO schemes unleashed..
And we seen the greedy profiteer dregs go along with it all so they could profit off them all.
When i asked the dev of BlockNET why he needed a million dollars in Bitcoin
He told me word for word, "to ensure it's a success"
Crypto-Minimum Wage Increase ?
When i started this coin devs would work on projects for FREE.. mostly.
Satoshi did not put his hand out and say i want a MILLION DOLLARS first before i release anything..
It is true that the ICOs aren't really providing any funding for development that matters. It is just the insiders cashing out.
That being said, no top notch s/w developer will work on a risky project that might net him $0, if he can't at least generate $250,000 per year of effort. And that is really on the low end since most of them can make that much (and more with stock options) in a job in silicon valley.
For example, I have been doing research and basically "working" in crypto since 2013. If I launched a project, I would expect to recover those years of investment.
But I also wouldn't waste all the funds on nonsense development of pie-in-the-sky fantasies.
But any way, I am not going to ask anyone to give me an ICO money. Mined distribution is clearly the fair way to launch a coin.
But just keep in mind if the developer is receivng a $million for years of effort, it is really just about break even, if he is a top developer. Please be respectful of the opportunity cost of top developers.
Also even the developers have a right to seek higher ROI. Speculators invest and risk to get a big payoff. When developers invest their time/effort and risk to get a big payoff, this is capitalism.
Having said that, afaik most of the developers of altcoins are not top developers. Afaics, most of them have nearly no experience as employed software developers before their work in crypto. This is excluding the Bitcoin core devs of course. There are experienced developers in the Bitcoin ecosystem.
The DAO is only 2080 lines of source code. And it can never be "fixed" or "finished" any more than it already is, because
it is a flawed concept and I have difficulty believing Tual doesn't realize it.. It probably wasn't intended to grow into something great. It was probably a quickie rush to latch on to the euphoria about ETH and so those looking to cash out of ETH at the double-top at $15, had another option The DAO. It was probably a timing and marketing product decision and not an engineering or long-range focus. I could understand your criticism of something like that. But it is a free market and you can't stop them.