not commenting on weather facts are sane or not. bloomberg has consistently been publishing negative cryptocurrency articles each time the market goes up to the point of suspicion
Half of ICOs Die Within Four Months After Token Sales Finalized
221–230 of 433 posts
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#222Earlier quoted context omitted.
> Soooo, buying drugs and illegal gambling? Sure, I'll give you that one. Yes, although also remittance payments, and some usage in places with unstable currencies like Venezuela. Hard to gauge how much, though. > My argument rephrased: "Because cryptocurrency investors have repeatedly made claims that don't pan out, we can be reasonably skeptical and concerned about their energy consumption until they actually fix i…
Bitcoin is a solution to unstable currencies in the same way that gasoline is a fire extinguisher. People in Venezuela that want to actually eat are using USD.
they cannot send or receive usd from abroad. they can do it with bitcoin. you get now the value proposition of a global currency that is not government controlled?
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#223Earlier quoted context omitted.
> It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning That really depends on where you put 'beginning'. But more to the point, blockchains are useful now, just like the internet was. They're just not useful for all the things that are being promised (yet). Also, just like the internet wasn't. > Now, all we see is rampant fraud and a complete d…
> But more to the point, blockchains are useful now, just like the internet was. They're just not useful for all the things that are being promised (yet) How long do we have to wait to find a valid use case for blockchains? It's been 10 years now and we're still asking the same question.
you should try to send someone in venezuela money from your mobile phone. the you will understand
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#224Earlier quoted context omitted.
> But more to the point, blockchains are useful now, just like the internet was. They're just not useful for all the things that are being promised (yet) How long do we have to wait to find a valid use case for blockchains? It's been 10 years now and we're still asking the same question.
The main use case for block chains is quite obviously to skirt government regulation: black markets, unregulated securities and quasi-securities, etc. A secondary and related use case is to avoid the hassle and complexity of old fashioned equity and other fund raising constructs and to make easier international wire transfers. Putting ethical concerns aside: these are very large market segments. Cryptocurrencies may…
the main argument of Blockchain since its a public ledger is totally the opposite. total transparency in government, voting, public expenses etc.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#225You can see the state (volume, # daily users) of some of these promised "dapps" here: https://dappradar.com . It is indeed a barren wasteland. And when a new popular ICO comes along, the Ethereum network struggles and fees skyrocket. It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning: you could at least send messages and files across the netw…
This is a serious question as I want to make sure I'm reading this right: CryptoKitties really had only 274 users in the past 24 hours? The USV/Andreessen company?
274 users is actually pretty good for a crypto company. Right now FunFair is a $150M company, and they only have 15 daily users.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#226Earlier quoted context omitted.
> The transfer itself does not require trust Cash transfers and barters are trustless. Wires are trustless (in being reasonably irrevocable) in a manner similar to cryptocurrencies ( i.e. if we ignore the plumbing). Cryptocurrencies solve for trust in the most reliable part of the trust chain while exacerbating every other element of transaction risk.
> Cash transfers and barters are trustless Yes, but they require physical presence. > Wires are trustless (in being reasonably irrevocable) in a manner similar to cryptocurrencies (i.e. if we ignore the plumbing). Irrevocability is not the same as trustlessness. Your transaction is still being intermediated by an entity that can choose to appropriate your funds otherwise. > Cryptocurrencies solve for trust in the mos…
"And does blockchain offer an alternative tradeoff that we might like better?"
Why do I care about limiting the options to blockchain?
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#227Earlier quoted context omitted.
Once ICO scams stop working, the world will move towards traditional models. Crypto is out there, and it's not going anywhere. Eventually someone will realize that the smarter move is to create sustainable value over time.
> Eventually someone will realize that the smarter move is to create sustainable value over time. Most ICO's - if not all of them - are powered by the greater fool theory, sustainable value isn't really on the table. I see value in the blockchain and some in BTC (but not as much as others apparently do), but the whole ICO concept seems to be just a way to transfer wealth from greedy suckers to even greedier suckers.
why would a company trying to build a product be a greater fool example? you mean all startups that fail at very high rates are also that?
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#228Earlier quoted context omitted.
> It's weird because people compare it to the early days of the Internet... but the early Internet was useful from its beginning That really depends on where you put 'beginning'. But more to the point, blockchains are useful now, just like the internet was. They're just not useful for all the things that are being promised (yet). Also, just like the internet wasn't. > Now, all we see is rampant fraud and a complete d…
>blockchains are useful now Honest question: for what? I've yet to hear a use case where blockchains are actually solving a problem, other than "buy things on the black market".
Paying people across borders.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#229In contrast, the ICO for SingularityNET has actually done quite well and received 5 times the amount of demand expected for their token sale; they postponed the end of their token sale date to properly handle the overwhelming demand. Feels most ICO sites are giving them 4/5 rating on average, but we'll how that goes. I think the reason this one in particular is doing so well is that the purpose of the sale feels usef…
Do you own some of this? Are you associated with the project in some way?
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#230Earlier quoted context omitted.
Bitcoin is a solution to unstable currencies in the same way that gasoline is a fire extinguisher. People in Venezuela that want to actually eat are using USD.
they cannot send or receive usd from abroad. they can do it with bitcoin. you get now the value proposition of a global currency that is not government controlled?
People in Venezuela certainly do send and receive USD from abroad, it is obviously the only way it gets into the country. You can go to a grocery store and buy food with USD. This is what people are actually doing. I suppose you can try to convince the people at your local grocery store to accept cryptocurrencies but good luck with that. And good luck using cryptocurrencies in a country that suffers from frequent blackouts of both electricity and internet.