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Comment by mrharrison | Hacker News Reader

Also, this isn't taking token sales mainstream, token sales are already mainstream. This is making token sales available to the privileged (accredited investors) before they are available to the public.

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On the plus side, token sales are actually mainstream - so companies will actually be able to choose this hacked together version of the old public securities model and controlling their own destiny via DAOs and, well, simply setting up shop outside of the US. Choice is a good thing for companies, and it's a clever compromise - but if the only way VCs can invest is with hacks like this, I'm not feeling bullish on America's chance of participating in this new economy.

I don't know how you consider token sales mainstream. I wrote a post explaining how difficult it is to participate in a token sale. www.arilewis.com/blog/2017/5/15/my-mom-cant-buy-an-ico

It's very plausible that there could be a bubble, but just to give some context, the cryptocurrency market is valued at $68 billion dollars. The Bloomberg US Internet Index went from $2.948 trillion at its peak to $1.193 trillion. We are nowhere those types of valuations.

Sure, but the internet at its peak was providing _real_ goods and services, not just a _financial_ service.

Yes! A VC telling us that bypassing VCs and enabling people to invest in what they want directly is bad. News at 11.

But no, you see, they are worried about SEC compliance. Aren't you glad VCs are looking out for your interests?

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