Post
Topic
Board Altcoin Discussion
Re: What is Success factor in ICO coin and not ICO coin?
by
iamnotback
on 27/02/2017, 21:41:47 UTC
ICOs are illegal. It quacks like an investment security then the Supreme Court said it is a duck under the Howey test.

Past ICO performance is not relevant anymore. Ethereum smart contracts have lowered the marginal cost of producing an ICO so much that we will end up with an oversupply of ICOs and no aftermarket remaining to buy them...

Re: Stay away from ICO

Yes, stay away so i can get more of the ICO for myself Smiley

That was a good attitude before when there were only a few ICOs. Now we have a new ICO every week or day.

Instead of there being any money to make prices go up in the future, all our BTC will be in the pockets of ICO developers. An ICO graveyard is coming where 100s of ICOs are buried. You are destroying Dash's speculator market. Soon there won't be any more dumb speculators.

There is no way all these 100s of ICOs are all going to go up in price.

Yeah you do that. Please put all your BTC into ICOs because we need smart people like you to lose all your BTC, so our ecosystem can get dumber.

Added the following. Note there is one counter-argument I can make to myself, which is if this proliferation of ICOs can bring more new money into our ecosystem, then my fear of losing the aftermarket may be incorrect.

Regarding the upthread post wherein I alleged that Ethereum can't scale (and tangentially I also alleged smart contracts on a Turing-complete blockchain are another DAO attack waiting to happen), I was asked to provide some more details.

(Additionally I have recently explained that the 10s (coming to 100s?) of ICOs being launched every year now because of this Ethereum smart contract nonsense which enables rapid prototyping of 1000s of hair-brained ideas that will probably never achieve any serious adoption, because again Ethereum can't scale and another smart contract attack means all smart contracts become untrustable, means we likely have a coming ICO graveyard where our ecosystem has died. Thanks to greedy developers who want to cash out after making a fancy presentation and thus don't develop first and launch without an ICO and really don't have much incentive to develop anything at all after they raise $millions to party with, especially young guys who have a lot of energy for conferences, dinners, parties, fancy hotels, etc.. What happened to my generation of startups where we developed them from our bedroom while living at our parents' hose.

The low marginal cost of preparing the snazzy website, whitepaper and perhaps even a barely functional smart contract demo is minimal, perhaps < $5000 or even less. Yet these ICOs can easily raise 100s or 1000s of BTC. So the supply of ICOs rises to meet the demand from gullible speculators who all "want to buy earlier than each other" so they all end up buying ICOs, thus none of them buy earlier than each other and the ICO developers walk away with the Bitcoins and the speculators will be left penniless in the coming ICO oversupply graveyard because all the demand will have been transferred to ICO developers who don't buy in the aftermarket.)

Re: HumanIQ has a technically flawed design?

I just dont think a de-centralized system is capable of vetting people for loans and i'm nearly positive it isnt any good at prosecuting those who dont repay them.

You are thinking of WeTrust, as HumanIQ has nothing to do with loans.

There are too many ICOs. Nobody can keep track of them in their mind. That is why these ICOs are all going to fail and end up in an ICO oversupply graveyard with no buyers in the aftermarket. We are being saturated with too many ICOs. None of them can get enough mindshare. Our minds are overloaded.

Besides The Founder, What is Wrong With Qtum?

Qtum does a few things right. The developers designed a competent website and wrote two interesting whitepapers. Digging a bit deeper, reveals some troubling issues.

With legit ICOs like Chronobank dumping, what more with an ICO that's shrouded with shady players.

Speculators are attempting to know what is impossible to know too early. And thus they are being taken in by 100s of ICOs and going to end up in an ICO graveyard.

It used to be that speculators could perhaps gauge which ICOs had a superior level of hype and marketing, so they could speculate not on actuated creative technological achievement, but on the ICO being the actual launch of the manipulation of the minds of speculators (aka "mining the speculators"). But now we are entering a new phase where there will be an an oversupply (market saturation) of ICOs which have copied that "the ICO is the launch of the reality distortion field" paradigm. Ethereum is spawning offspring (i.e. smart contract) copycats of its own reality distortion field business model, which may cannabalize ETH itself.