Earlier quoted context omitted.
Why not just write a compiler for that functional language (I think OCaml) that outputs EVM bytecode? Seems very doable from afar...
No one's yet figured out how to ICO a compiler.
ahahahah
Tezos founders push for legal bailout from Swiss foundation
41–50 of 91 posts
Re: Tezos founders push for legal bailout from Swiss foundation
#42Earlier quoted context omitted.
Ummm doesn’t a regular VC founded startup that IPOs does the exact same thing? Some of them without even making money... actually loosing money!
If a startup never finds any paying customers, it will never IPO. The IPO is a separate step from the initial investment, governed by rules intended to protect the public. ICOs don't seem to represent anything of intrinsic value (e.g. a successful business) so the public probably faces greater danger from unscrupulous behavior.
In the biotech / pharma world, it's common for startups to IPO years before they have a single paying customer.
The difference between a biotech startup and many ICOs is that the former typically has years of validated and peer-reviewed scientific research backing up the hope of eventually having a product.
Re: Tezos founders push for legal bailout from Swiss foundation
#43I know that ICOs get a lot of negativity on HN. Sure, a lot of them deserve it, but not all ICOs are started for the sole purpose of raising cash that they otherwise wouldn't be able to raise. ICOs as a form of funding are equally likely to be manipulated as traditional VC funding following trends and hypes (one might argue that they ICO investors are even more gullible to dishonest founders since they are generally…
I hold the opinion that if you need a public ICO to "get stakeholders" you already failed, or are already successful as a scam. There are a ton of ways to find and secure proper, reliable stakeholders who are committed to your technology or your cause/product. (Private ICO being one of the ways. Keep things under wrap, develop the technology, have a proof of concept, sell some product, and then MAYBE if it makes sens…
> A public ICO blasting across the internet when there is no product, no plan, and no real engineering already done is nothing but a cash grab, and I am not at all surprised that they are embroiled in lawsuits.
Is this really a property of ICOs? the behavior you describe may be very common nowadays, but from what I understand there is nothing intrinsic in this kind of funding model to be necessarily like that. Maybe after a crash the market will get a bit more mature and start using public ICOs for real stuff, and I think that could evolve into something really interesting :)
Re: Tezos founders push for legal bailout from Swiss foundation
#44Earlier quoted context omitted.
In addition to on-chain governance you mention (i.e. the built-in voting features to decide protocol changes and avoid the civil war that's going on in Bitcoin world), they use a functional programming language that is supposed to be much safer and easier to code than the Ethereum language.
Why not just write a compiler for that functional language (I think OCaml) that outputs EVM bytecode? Seems very doable from afar...
Tezos itself is written in OCaml: https://github.com/tezos/tezos So what you say is exactly what they did but to their chain not EVM.
Re: Tezos founders push for legal bailout from Swiss foundation
#45Earlier quoted context omitted.
Ummm doesn’t a regular VC founded startup that IPOs does the exact same thing? Some of them without even making money... actually loosing money!
If a startup never finds any paying customers, it will never IPO. The IPO is a separate step from the initial investment, governed by rules intended to protect the public. ICOs don't seem to represent anything of intrinsic value (e.g. a successful business) so the public probably faces greater danger from unscrupulous behavior.
Or a startup could be paying for customers more than the customers pay them? And still IPO right? E.g.: Groupon?
Re: Tezos founders push for legal bailout from Swiss foundation
#46Tezos, the Theranos of ICOs. When you know enough rich people, you can raise a lot of money on a PDF of promises. With all the money Tezos has, they're probably going to do what Theranos did with Walgreens: pay their way into a fancy big partnership that gives the impression that there's something actually going on.
It bothers me that the top comment is a snarky dismissal from someone who doesn't have any idea what's going on. I've already learned not to expect quality discussion from HN regarding cryptocurrencies, but still, I'd like to think we can do better.
Re: Tezos founders push for legal bailout from Swiss foundation
#47If you like the idea of Tezos, have a look at Cardano. It has on-chain governance voting, formal verification, and the ability to upgrade the protocol without the need for hard forks. Basically, all the stuff that got me interested in the Tezos project. https://www.cardanohub.org/en/what-is-cardano/ In the interest of full disclosure, I do own some Cardano.
I love what IOHK have been doing with Cardano. There are lots of really notable faces[1] and institutions working on this project, and I'm excited to see what they bring to the Haskell and greater mathematics communities. Here is a good whiteboard summary of Cardano[2], by Charles Hoskinson, who is co-creator of Ethereum as well as Cardano and other associated notable works. [1] - https://iohk.io/team/ [2] - https://…
>by Charles Hoskinson, who is co-creator of Ethereum as well as Cardano and other associated notable works.
As it happens, he's also the creator or Ethereum Classic, a hard fork of Ethereum, not unlike what Bcash is to Bitcoin (i.e. an attempt at co-opting the brand and capturing value by confusing newcomers).
Apparently he tried to inflate the ETC coin supply by 20% and give the new coins to his company IOHK, which of course didn't sit well with the ETC community:
https://medium.com/@classicether/an-analysis-of-charles-hosk...
Re: Tezos founders push for legal bailout from Swiss foundation
#48If you like the idea of Tezos, have a look at Cardano. It has on-chain governance voting, formal verification, and the ability to upgrade the protocol without the need for hard forks. Basically, all the stuff that got me interested in the Tezos project. https://www.cardanohub.org/en/what-is-cardano/ In the interest of full disclosure, I do own some Cardano.
I think I saw someone shilling for Cardano in a different thread as well. While I won’t deny you your excitement about cryptocurrency, imagine how boring HN would be if every discussion about this topic devolved into “check out this coin that I am invested in, check out that coin” etc.
Re: Tezos founders push for legal bailout from Swiss foundation
#49Tezos, the Theranos of ICOs. When you know enough rich people, you can raise a lot of money on a PDF of promises. With all the money Tezos has, they're probably going to do what Theranos did with Walgreens: pay their way into a fancy big partnership that gives the impression that there's something actually going on.
It bothers me that the top comment is a snarky dismissal from someone who doesn't have any idea what's going on. I've already learned not to expect quality discussion from HN regarding cryptocurrencies, but still, I'd like to think we can do better.
Why don’t you write that better comment? It’s not like mine has that many upvotes (11 at current count). If you explain your position in a reasonable way with evidence, it should displace mine.
Re: Tezos founders push for legal bailout from Swiss foundation
#50If you like the idea of Tezos, have a look at Cardano. It has on-chain governance voting, formal verification, and the ability to upgrade the protocol without the need for hard forks. Basically, all the stuff that got me interested in the Tezos project. https://www.cardanohub.org/en/what-is-cardano/ In the interest of full disclosure, I do own some Cardano.
Decred has had on-chain governance voting for nearly two years now.