That idea was initiated in the ICO boom and failed miserably.
Most of the money was either blatantly stolen, hacked or the companies went broke when the price of bitcoin dropped by 80%.
Tell me why my Crypto Startup idea won't work
41–46 of 46 posts
Re: Tell me why my Crypto Startup idea won't work
#42> Everyone here loves crypto (and have some) and loves startups too. Not true at all, many here on HN are openly hostile towards it because they dismissed it at the time while others were made obscenely wealthy. Whether they own some is probably true, though. > I want to create a coinbase for startup equity. Translation :you invest small sums of your cryptos in a startup of your choise. First, you don't want to be th…
>Not true at all, many here on HN are openly hostile towards it because they dismissed it at the time while others were made obscenely wealthy. I won't mince my words. People hate cryptocurrencies here because they are shit, the technology is shit. The only reason anyone buys Bitcoin is as you said, because they want to become part of the pyramid scheme.
The problem here is the use of the term "crypto" and/or "cryptocurrencies". True Bitcoiners hate the use of the term "crypto" becouse it lumps bitcoin in with all the shitcoins - ie. _all_ other cryptocurrencies except bitcoin (including, and especially ethereum). Bitcoin is _not_ "a" cryptocurrency. Bitcoin is bitcoin - nothing more, nothing less.
Re: Tell me why my Crypto Startup idea won't work
#431. It sounds like you're effectively making your own stock exchange, but with crypto instead of cash. I imagine the SEC will have many things to say about that. It could be legal, but you're not going to like the laws they'll make you follow. 2. In a real stock exchange, the company value is largely the volatile thing. In one backed with crypto, the price of a company will fluctuate more from the asset you're buying…
The idea is just that. Create a Nasdaq for early private tech startups - fixed valuations - funded with crypto.
For the Investors I think there is no problem with SEC, but for the fundable startups what could be a workaround?
Re: Tell me why my Crypto Startup idea won't work
#44Earlier quoted context omitted.
> The fact that Coinbase did a DPO instead of some kind of fancy DeFi-based offering is telling in their potential lack of conviction in the ability to offer public securities at this stage in the game through some of these smart contract based platforms. I'm sure @barmstrong has spent a lot of time thinking of this, I certainly would be if I was him. I think the reason is very simple. Traditional markets have way mo…
This is definitely the right answer - I am fully aware that this is the case, but I think it's a useful signal that indicates that these alternative capital technologies are not mature, and that instead of everyone trying to tokenize everything for their own business, maybe some rockstar programmers should maybe elect to build out the core infrastructure a bit more first.
Did you started actually working on the idea then?
Re: Tell me why my Crypto Startup idea won't work
#45Earlier quoted context omitted.
This is definitely the right answer - I am fully aware that this is the case, but I think it's a useful signal that indicates that these alternative capital technologies are not mature, and that instead of everyone trying to tokenize everything for their own business, maybe some rockstar programmers should maybe elect to build out the core infrastructure a bit more first.
Did you started actually working on the idea then?
Read the initial reply
Re: Tell me why my Crypto Startup idea won't work
#46Are startups willing to take crypto in exchange for their share?