Earlier quoted context omitted.
How is that different/worse than a startup? Early founders/employees get stock at a lower price, and then the price goes up if the company makes progress. There's only a return if the market values it.
So if an unregulated ICO does it, it's bad. But if a regulated ICO does it, that's cool, just regular startup scene behavior. Pump and dump those return multiples on unsophisticated public investors. The VC leeches will love this new short-cycle SEC-endorsed wealth channel.
Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
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Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#72Blockstack Auth pros and cons:
1. You don’t need a phone number to verify your account and worry your phone number leak. 2. You don’t need time to write traditional codes about user registration and finding password. And you don’t need to buy or deploy a mail server like mailgun and sendgrid. 3. No one can block your accounts (blockstack id )like google did it for me,currently. 4. No one can sell your data to others, I don’t how it going for data business in USA , but in China, Alibaba and baidu , every day, they sell data of users to their paid merchants without our permissions. 5.No cost for image storage in Gaiahub now
Cons: 1. No server nodes in Asia, it is really slow to use graphite and xordrive, I mean, most blockstack sites load pages slower than trational websites. It’s time to deploy Asia servers ! 2. No 100% decentralized, actually , I wanna say that blockstack websites and apps also based on ip protocols. China government firewall can easily blocked these domains. If some blockstack websites use Twitter,react Facebook js cdn, we have to use vpn to use these sites normally.
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#73I bought some, but when are the tokens going to be distributed ?
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#74Boggles my mind that the SEC would give the tick to an ICO with heavily discounted tokens. You gave founders, employees and investors tokens at $0.00012. Then you sold discounted tokens at $0.12. Now you're pumping the pyramid scheme further with a public sale at $0.30. It's a nice way to pump a 2500x return for yourself and investors before any exchange listing. Can't wait for the SEC to endorse that behavior across…
Thanks for pointing this out. From direct text from our FAQ: "Why were Stacks Tokens valued/sold at $0.00012 prior to the 2017 accredited sale at $0.12? Founders and early employees of Blockstack PBC received tokens at $0.00012 per token in October 2017 based on an independent valuation from Foresight Valuation Group, LLC when the Stacks Token was still in its earliest stage of development and before the publication…
1. The $.00012 token kickers constitute 1/4th of the entire supply. That's a 2500x return when sold at the .30c price or even more going by the current OTC price.
2. The market was in a full blown mania in fall 2017 so a market barely out of a crushing crypto winter can somehow support a higher .30c price now vs .12c back then?
Re: Launch HN: Stacks (YC S14) – The first SEC-qualified crypto token offering
#75Several companies have tried to create blockchain-based products using offline mesh networks, but there's the problem of there not being a ledger, and thus transactions not being able to be confirmed. Do you think blockchain-centric companies could integrate technologies like, say, Bridgefy to enable their mobile products to work without Internet and thus become more decentralized?