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Half of ICOs Die Within Four Months After Token Sales Finalized

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Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#191

Post by bduerst »

dnautics wrote: post #144
madeofpalk wrote: post #135

Earlier 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.

I've definitely transferred assets to someone anonymously (not for anything illicit, it was strictly a non quid-pro-quo charitable act) using Bitcoin. I did not want this person to know who I was because I didn't want them to feel like they owed me anything.

How common is this use case? How is it competitive to other methods, i.e. mailing a money order?

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#192

Post by vkou »

JumpCrisscross wrote: post #129
vkou wrote: post #103

Earlier quoted context omitted.

Do they? I was under the impression that I could sell as many pre-orders for my anti-gravity skateboards, and my marks would have very little recourse, as long as I had the right disclaimers, and I don't sell to Europeans. [1] [2] [3] [4] [1] Product might not perform as advertised. [2] Product might not be delivered in the promised timeline. [3] Product might not be completed at all, due to unfortunate circumstances…

> I could sell as many pre-orders for my anti-gravity skateboards, and my marks would have very little recourse If you had zero intent of making anti-gravity skateboards, they would have criminal recourse. If you had every intent but were marketing the impossible, they may have civil recourse. Not everything can be disclaimed away. Pre-orders, moreover, are regulated in many states. Disclaimer: I am not a lawyer. Thi…

I think that proving I had zero intent of building the product in question is about as difficult (Or easy) as proving that I had zero intent of building any useful features for my crap-coin.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#193

Post by vkou »

asdsa5325 wrote: post #24
mrnobody_67 wrote: post #7

I'm so surprised that smart contracts aren't being used to release the funds over some set of time, with the ability for community to vote to block it if they feel team has stalled. Nobody needs $20 or $50m on day 1.

I'm not surprised. ICO investors are crazy and ignorant. If they thought straight, they wouldn't invest at all.

Many of them are investing because there is money to be made over the course of a pump and dump.

They don't actually want any pre-order tokens that entitle them to 2 GB of storage on a distributed crypto-file-system, or whatever the ICO promises.

Think ticket scalping, except that the tickets are for a concert that may or may not happen. (Because the band hasn't actually written any songs, found a drummer, rehearsed anything, rented a venue, or even bought any instruments.)

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#194

Post by deltateam »

hudon wrote: post #23

You 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…

its funny how this article confirmed your existing worldview and all they did was look at how active twitter accounts were.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#195

Post by confiscate »

JohnJamesRambo wrote: post #138
confiscate wrote: post #107

Earlier quoted context omitted.

What attributes about crypto, makes you feel the same way? i.e. that it is going to be revolutionary Because the example you said about the internet (from loading webpage to video streaming) does sound amazing. What's the "parallel" for crypto that you see?

https://i.redd.it/l5y9p9nqwu811.png This sums it up better than I could. The wrenching of power away from centralized authorities and organizations (which we have seen abuse us and our privacy mercilessly for their gain) to decentralized applications with no middlemen, that are free of censorship, and can not be "stopped."

I want crypto to succeed, but I have a hard time seeing the parallel you mentioned. One example benefitted you personally, while the other is a good concept in theory.

In your example of the early internet (too slow to load webpage, to streaming video), you described a direct benefit you experienced personally (you needed to access a piece of content and it got that to you fast)

But when you use crypto, you said it's revolutionary because it "wrenches power from centralized authorities". That is not a direct benefit you experienced personally. That description is a high-level concept.

So, it's hard for me to see the parallel.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#196

Post by Frondo »

madeofpalk wrote: post #135
darawk wrote: post #98

Earlier 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.

This guy has done a great write-up of that question:

https://hackernoon.com/ten-years-in-nobody-has-come-up-with-...

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#198

Post by imesh »

api wrote: post #141
madeofpalk wrote: post #135

Earlier 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…

Ignoring tax evasion and other white collar crimes, selling drugs alone is a $36 trillion dollar a year industry.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#199

Post by bduerst »

eximius wrote: post #142
na85 wrote: post #126

Earlier quoted context omitted.

>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".

I think that the EVM hasn't found its great use yet. But Cryptocurrencies in general are being used widely for international currency movements and as currency in distressed countries like Venezuela where the 'black market' is just the regular market due to government instability.

The Venezuelan bolívar is not a good example of prime markets for cryptocurrencies. The forced exchange rates, runaway inflation, and general mismanagement has created a black market in which literally any other currency is better.

Re: Half of ICOs Die Within Four Months After Token Sales Finalized

#200

Post by anyfoo »

JohnJamesRambo wrote: post #138
confiscate wrote: post #107

Earlier quoted context omitted.

What attributes about crypto, makes you feel the same way? i.e. that it is going to be revolutionary Because the example you said about the internet (from loading webpage to video streaming) does sound amazing. What's the "parallel" for crypto that you see?

https://i.redd.it/l5y9p9nqwu811.png This sums it up better than I could. The wrenching of power away from centralized authorities and organizations (which we have seen abuse us and our privacy mercilessly for their gain) to decentralized applications with no middlemen, that are free of censorship, and can not be "stopped."

Some of that is just playing with definitions. "Have Internet without an ISP", how? And how does cryptocurrency help?
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