Post
Topic
Board Altcoin Discussion
Re: What's the Point of ICO Escrow?
by
LoyceV
on 10/01/2017, 09:21:12 UTC
What if the owners/creators/developers take none of the proceeds and its all used to further the altcoin in ways that don't involve paying salaries, etc?
In that case it's likely they use the money to increase the "value" of their pre-mined coins. One way or another, they do it for themselves.
Don't get me wrong, that isn't necessarily a bad thing, although it would be better if they're open about that goal. In reality, they - for example - make up all sorts of possible future uses for the coin. Most likely, this will never be accomplished. That's why we have hundreds (maybe thousands?) of altcoins, and that's why they're also called "shitcoins".