Earlier quoted context omitted.
Shhh
He knows too much. Better put him at the top of our pyramid scheme so he loses his integrity in exchange for money like Mr. McAffee.
How much money will you give me, and what coin do I have to shill for it?
Half of ICOs Die Within Four Months After Token Sales Finalized
401–410 of 433 posts
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#402Earlier quoted context omitted.
> People use cryptocurrency too. For value transfer What's your evidence for this? Even major Bitcoin advocates say it's no longer useful as a payment system: https://avc.com/2017/08/store-of-value-vs-payment-system/ Bitcoin's total TPS is circa 2-3. [1] And presumably a small fraction of that is actual money transfer. In contrast, M-Pesa, a digital money system that started about the same time and has millions of us…
It's useful for cross-country transfers of money, and in-country if the alternative would be very annoying (or you just happen to have some cryptocurrency around and not regular money). I do use it for that and I've found it useful. The biggest downside in my experience has not been all the abstract figures and numbers and stories floating around, but the exchanges. Turning cryptocurrencies back into regular money is…
Turning cryptocurrencies back into regular money is pretty easy and efficient with Kraken.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#403Earlier quoted context omitted.
This is a fallacy. Generally regulations tend to protect consumers or vulnerable groups from harm. The recent global trend towards deregulation and austerity moves in the opposite direction of social democratic movements in Germany, Scandinavian countries and much of the EU. The end result being more of a wild west free for all that results in something more like the Gilded Age of the 19th century than a well-optimiz…
> But it was really yet another tactic to keep the most lucrative forms of trading in the hands of wealthy/institutional investors and leave the masses in the slow lane of trading with their own money. This is entirely subjective and it actually also happens to be wrong.
That's the great thing about subjectivity, I could say the same thing about your comment unless you have proof that no day traders were negatively affected.
BTW I got interested in this sort of thing after this law blocked the start of my day trading career :-P
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#404Earlier quoted context omitted.
> It does not. In 1995 the Internet was useful for 30m people. In 1985 it was useful for 30,000. Email was better than paper mail from the get-go. You see that now . But in 1985 most people thought email was silly, if they knew about it at all. Why replace the mail? The mail is fine. It's only when you look back on it, with modern eyes, that you see how great it was. > Not really. I ask regularly here, and so far the…
Having lived through 1985, most people did not think email was silly. Even we primitives of that dark age could tell that instant delivery was generally better than waiting a few days. Moreover, the "most people" standard does not apply. I'm not asking what "most people" think about Bitcoin. I'm asking for evidence of delivered value to early-adopter audiences. In 1985 any crowd of tech people could tell you why emai…
I believe the most common reason some people don't see the utility of cryptocurrency is that they have a real or perceived vested interest in the status quo around money not being disturbed.
It is often the case that:
Securities lawyers and traditional venture capitalists don't want a world where regulatory agencies and traditional venture capital can be routed around.
Those in financial law enforcement don't want the trend toward total financial surveillence, euphemistically called instituting anti-money-laundering controls, reversed.
More generally, those with a major economic or ideological investment in government-funded programs don't want people to have financial privacy that makes enforcement of the income tax more difficult, or to see an alternative to central bank issued currency, which gives governments the power of seignoriage, gain traction.
The utility of cryptocurrency is clear: sending value from point A to point B electronically without depending on an intermediary that can extract rent or surveil/censor the transaction.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#405Earlier quoted context omitted.
This is the last line to which you were referring, right? > To me the value seems to be that nobody can forge a transaction based on your currency (or whatever it is you have), not the idea that you somehow don't need to trust anyone when you do transfer value. What I meant is that the capability that "nobody can forge a transaction" and "don't need to trust anyone" are actually the same thing. You are forced to trus…
> What I meant is that the capability that "nobody can forge a transaction" and "don't need to trust anyone" are actually the same thing. You are forced to trust your bank because your bank could forge a transaction on your behalf. You trust them not to do this. That is the nature of your trust in them. Blockchain eliminates this weakness, and it is in that sense that you do not have to trust a 3rd party. If this is…
I haven't changed my position at all. The transfer does not require trust. Both the transfer and the storage do not require trust.
> I don't trust my bank for precisely that reason
Yes you do, unless you don't have a bank account. The fact that you presumably have a bank account with a non-zero balance is evidence that you trust them not to steal your money.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#406Earlier quoted context omitted.
There are many widely used data formats, such as OpenDocument files, that are XML underneath, often packaged up as .zip files. Much engineering data, such as KiCAD printed circuit board layout info, is in XML. COLLADA, for 3D animation and robotics, is XML. Open Street Map is XML. If you need to represent a large, complex tree-structured data object portably, XML is still usually the way to go.
I agree that it's a decent approach for that extremely narrow use case. My point is the extent to which that is different from the peak of XML's hype cycle, which was circa 2000. Then, XML was everywhere. E.g., eBay circa 2004 would render data internally as XML, which would get passed off to multiple Rube Goldbergian XSLT transformation layers on its way to becoming HTML. Or I did some work at a bank around then, an…
JSON tools tend not to scale. See [1] A 1MB JSON file will blow up some tools. Engineering models of real-world objects are much larger than that. There's sort of an assumption with JSON that you'll read it into a JSON tree and work on that, not process it sequentially.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#407"Still, all investors should probably sell their coins within the first six months, the study found." This is a baffling statement, mostly because if you sell your "coins" to someone and they keep them too long, they will lose everything. Which could lead to liability questions. I mean, you buy those coins and sell them as fast as you can, because you know that they won't be worth anything within in days or weeks, it…
Shares and similar tokens don't work like that on the secondary markets like stock and token exchanges. One person clicks sell and another buy and very seldom does anyone worry too much legally about the reason why, insider trading being the occasional exception.
Issuing shares from scratch is different and there you can get done for fraud.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#408Earlier quoted context omitted.
You have to beware of overreaction to the bad investment. Generally folks are not savvy investors. Just look at the large number of small investors in the stock markets. When greed takes hold or FOMO does and lots of people lose money it will lead to an overreaction against investors wanting to put money in companies. This will lead to VC/angel investment drying up which in turn will curb startups. Remember we live i…
Very very true. A lot of people make extremely poor decisions with their money. Perhaps there could be a threshold then? Like you are allowed to invest x% of your income/savings? I don’t really know the answer. I think the cup example may actually be more to prevent restaurants/cafes from lawsuits vs. to actually protect their customers from burns. I suppose it could be a combination of the two though.
The cup example was to show that people are dumb enough to sue a cafe because they got burned by hot coffee. It's an example of overreaction. Instead of thinking "I ordered a hot coffee, maybe this cup is going to be hot and I should be careful", people think "I ordered a hot coffee and because the cafe gave it to me in a cup I am going to assume it's the cafe's responsibility to make sure I don't get burnt" When people get burned they react by finding scapegoats.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#409Earlier quoted context omitted.
Do you own some of this? Are you associated with the project in some way?
I'm in no way whatsoever connected with the SingularityNET ICO or project. I actually couldn't get on the whitelist but I'm curious if the underlying point of the ICO is why it "appears" to be doing better than your average one. Could it be a model for future projects and whether they decide to go IPO or ICO. Clearly more successful ICOs are good for the model in the long run.
There have been hundreds of ICOs and some of them are actually trying to make an interesting product. I'm guessing this one is above average though the return has been unspecatcular. It says 1.08x on the website in USD terms.
Zil is an example of one building something with a real purpose and non trivial technology - a sharded blockchain that should be able to scale indefinitely which is up 20x in USD. Built by university researchers rather than obvious scammers https://icodrops.com/zilliqa/
There are some interesting things out there amongst the silliness.
Re: Half of ICOs Die Within Four Months After Token Sales Finalized
#410Earlier quoted context omitted.
I'm in no way whatsoever connected with the SingularityNET ICO or project. I actually couldn't get on the whitelist but I'm curious if the underlying point of the ICO is why it "appears" to be doing better than your average one. Could it be a model for future projects and whether they decide to go IPO or ICO. Clearly more successful ICOs are good for the model in the long run.
There have been hundreds of ICOs and some of them are actually trying to make an interesting product. I'm guessing this one is above average though the return has been unspecatcular. It says 1.08x on the website in USD terms. Zil is an example of one building something with a real purpose and non trivial technology - a sharded blockchain that should be able to scale indefinitely which is up 20x in USD. Built by unive…
Zilliqa is pretty cool, actually. I read the whitepaper and found the pieces on Zilliqa consensus and incentivizing miners based on their sharding architecture that "allows the mining network to process transactions in parallel and reach high throughput" very interesting. A great example of tech that presents solid algorithms or functions that do real work, or that could set the stage for new future work, within the context of cryptocurrency.