I made an earlier post about Ethereum some week or two ago, you are encouraged to read it. Ethereum is a copyrighting coin but a larger version of Mastercoin. They spend a lot of time spamming YouTube and articles which are only read by a few hundred. Surprisingly they've recently had a video with 6000 views but that was over two months, a day old video of a kitten playing with yarn can get more views.
It's a ponzi scheme ran by wealthy investors and there is even a Goldman Sachs' connection. Nobody wants to contribute to a get quick rich scheme benefiting a few people hence most stay away from that. After all how is Vitalik flying around the world, staying in hotels and partying it up at conventions? There's money coming from somewhere.
With a $30 million IPO, I am not going to invest $1K or $10K as I would only get 0.00003% to 0.0003% of all Ether. That translates to risking a huge amount of capital (for an average Joe at least) on a coin that may not go past $40 million. The people who invested into Mastercoin / Maidsafe would had made more money buying Doge, NxT, Darkcoin, et cetera.
Honestly big IPOs or wealthy investors doesn't mean jack. Crypto currencies don't have an issue in funding but an issue in educating consumers to use their coin over say Bitcoin or a money transfer like Paypal. No amount of wealthy investors can change that, to be honest. In Bitcoin and Doge's case - that was all offline viral P2P advertising (like telling your friends to use Bitcoin) or forum advertising. I learned about crypto currencies from reading an internet forum and I don't think that person was being paid to promote BTC.
Good post dude, ponzi scheme may be a bit strong. Let Ethereum walk their path we will walk ours.
Spot on Mr. Smith. Taunsew should realise also that there are about 2 million crypto users in this world. Ever wonder why? Because there is no doggone IPOs and Gold Sachs figures in the Crypto industry.
And if we continue to think that cryptos are the best things ever invented since sliced bread, then we may never see this best thing ever happening in our life time, so long we remain arrogant and think we don't need mainstream help.
It has been a good five years since bitcoin was launched and we only have at most a couple of hundred million investments by VCs. In the same time frame, back in the Internet boom, tens of billions were poured in. That is the difference.
It will be a big mistake to continue to be antagonistic in our approach against mainstream. I'd rather go for a "hook line and sinker" approach with mainstream if I want to beat them at their game.
actually it's projected that btc wi'll out pace investment in internet(upto end of 1995) by the end of 2014.