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Comment by iopuy | Hacker News Reader

They should use the 4 billion to buy a crypto portfilio of coins with actual value. Litecoin and Ethereum would be a good start.

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They're building EOS, they're probably going to be dumping Ethereum for the forseeable future. Pretty interesting strategy to be honest.

Imagine raising your capital with the stock of another public company, then your proceed to continuously devalue said public company by dumping your shares in order to gain liquid capital to build your product.

Edit: The most interesting thing to come out of the cryptocurrency is that the lines between equity and currency have become very blurred

That's why some of the more progressive platforms opt for a dual token model, separating the governance token from the utility token. The founders of one of these used the example that you wouldn't go into an Apple Store to buy an Apple product with Apple shares.

I assume you're talking about NEO :P

I work on this

https://o3.network/

NEO was one of the first, but there are many now. The dual token model is also popular with commodity tokens and stable coins. The separation of concerns does help prevent certain conflicts of interest.

I'll try to check out the mobile wallet sometime.

Why couldn't you though. The ONLY reason now is that it's not as liquid as cash, but that's sort of the point and what's so exciting about the layer of automation that the crypto platforms are bringing. If it has value you can use it directly in a trade, and if the receiver wants to hold there value in a different token, the exchange can be completely automated. This brings freedom to the holder, they can hold there value in anything they want, it's not longer determined by what the buyer will accept.

Litecoin and Ethereum don't have value either.

Nor does any currency with your "argument".

Try not paying your taxes with Dollars.

The value of Ethereum is determined by the supposed token utility. Which means it'll depend on what it is eventually used for.

>actual value

No.

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