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It is. I hope they don't do the same thing with their code for whatever they're making.
What do you mean by "it is"? The Telegram client is open source.
To their credit, they said they will, but this[1] has been on their website since a very long time.
[1]:https://telegram.org/faq#q-why-not-open-source-everything
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Apologies if I ask stupid questions, but can someone explain me the relationhsip between the tokens created in ICO and ethereum (or bitcoin)? I mean, are these new tokens completely indpendent (economical) entities with no connection to the value of other cryptocurrencies, or do they somehow derive value from ethereum? To put this in practical terms, if I want to raise money via an ICO and promise that you can use a…
The new tokens are completely independent of other tokens. Buying at ICO, you’re acquiring tokens that you hope will have value once the system is up and running. I’m sure you could do that somehow, but I don’t believe anyone has done it.
One of the wealthiest russians Roman Abramovich invested about $300M in Telegram. https://en.crimerussia.com/oligarchs/roman-abramovich-invest...
Other than the people at the top laundering money, I don't see how anyone could get tricked into putting any money into this.
We truly live in a post-informational time. Everything is emotion. Nothing is about rationalization or sense or an actual understanding of how something works. Because we don't know how the thing worked, the numbers got giant, and we want giant numbers too. So if you use the same words as the thing we will plow money into you like no tomorrow because we still don't understand the thing but we see 1000x profit in 5 years.
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It’s launching an airline by pre-selling miles. Sure, you might have 1,000,000 miles and Platinum status on that new airline, the boarding passes are on the blockchain, but the airline gets to control the mile redemption rates and status privileges for that Platinum level.
Also if people redeem these miles, wouldn't it bankrupt the airline or at least significantly affect its profitability?
Airlines do this already, frequent flyer-eligible tickets are a small portion of the overall tickets available, blackout dates, etc...
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GP may have selected GOOG because it does not pay a dividend (like BRK.A).
Are you saying BRK.A pays a dividend?
Majority of stocks pay dividends, but some double digit percentage do not.
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The new tokens are completely independent of other tokens. Buying at ICO, you’re acquiring tokens that you hope will have value once the system is up and running. I’m sure you could do that somehow, but I don’t believe anyone has done it.
But isn't there some link between ICO and traditional cryptocurrencies? I thought the transactions are somehow logged to e.g. ethereum blockchain?
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In this case "private" have nothing to do with the code license. Problem with Telegram is that protocol and cryptography they use is their own. They might use better reviewed protocol like one of Signal, but they didn't. No need to explain what dangers same strategy going to cause with cryptocurrencies.
Was the Signal protocol reviewed in 2013 when Telegram was launched? It seems it was developed in 2013. I'd say the biggest problem with Telegram is the fact that E2EE isn't enabled by default and no one (that I've chatted with) uses it.