Quote from: cliber on July 19, 2019, 10:42:20 AM

Quote from: cliber on July 19, 2019, 10:14:38 AM

Quote from: Rockie1234 on July 19, 2019, 09:21:53 AM

Recently, I've seen a lot of positive press regarding IEOs. After all, Binance is already successfully running them, giving ICO projects a chance to shine and many other exchanges are following suit.
My personal opinion is that IEOs should be discouraged. Firstly, it gives more and more power to these centralised exchanges, who are able to charge higher, more ridiculous listing fees for coins as well as extremely large payments to hold IEOs. Their vested interests in this way mean they are less likely to care about vetting projects that may be untrustworthy, leading to even more irresponsible behaviour.

Exchanges are already making far too much from listing fees, so IEOs on top are completely unnecessary. While they are good promotion for coins, such practices cannot be good in the long-term.
Instead, the focus should be easy-to-use decentralised exchanges which don't require intrusive KYC/AML and are much less likely to be corrupt/ill-willed if some DAO-like structure is in place. While blockchain technology has made the storage of data much safer, what is the point if thousands of crypto exchanges hold endless amounts of data on the customers in the same way banks do? The only thing changing is who owns the data, so privacy has not improved. And as crypto adoption increases, so will regulation of exchanges.
We don't want to end up in a situation where to trade any meaningful amount of crypto you have to send your name, address, ID, and bank account details to some exchange which can do whatever it likes with your data.

Your thoughts?
I appreciate you because my mind is not like your thoughts that are too far from crypto. So far, I have only adopted people, meaning that if people say the IEO is better than ICO, then I follow them, arguing that the IEO is better. But, after I read this post, I had to learn a lot about crypto.
I agree that blockchain technology is safer when it comes to data storage.

Glad I can help! If you are interested in these kinds of things, I would recommend reading about the Electronic Frontier Foundation and about the "cypherpunks" here: https://en.wikipedia.org/wiki/Cypherpunk If this info helped you a lot I would be very glad if you merited my post although it is completely up to you.

I am not a person who likes to praise, if indeed the person has abilities that can help me, I think it is my duty to respect.
Once again, thank you for the reference you gave and I will read to increase my knowledge. Isn't the IEO clearer and more open than the ICO?
Why do many investors turn to IEO?

They turn to them because if IEOs are listed on an exchange, that lends more trust (less chance of being scammed). There is also an element of exclusivity, these IEOs sell out very quickly so people FOMO in without too much thinking. And don't worry, by merit I just mean the button next to the option to quote a message, not any literal praise. I'm not saying all IEOs are bad, I'm saying you can easily tell which projects are to be avoided without needing them to be listed on an exchange which gets more money and power as users become more dependent on it. If you go to Binance and find out the listing fee for a coin/IEO, it is ridiculous, hundreds of thousands or even millions of dollars.