> scam ICO
It seems like you might of repeated yourself...
This is the cryptocurrency roosters coming home to roost, no?
It seems like you might of repeated yourself...
This is the cryptocurrency roosters coming home to roost, no?
According to the SEC it was also an illegal offering of a security, and its receiving special treatment bc they considered it to have matured and no longer be considered a security, therefore grandfathered its grandfathered in unlike any other ICO.
No one else is going to have the good fortune of being able to offer an unregistered security then mature into a non-security with the SEC acting first.
Name a non-ICO-infrastructure ICO that isn’t a scam.
None of this stuff is ready for the mass market because scaling is so limited, but that's on track to get about 1000X better over the next two years.
Quick search of “ethereum escrow” returns no real implementations that avoid fees or human intermediaries. Every single blog post I’ve read that tries to sketch an alternative is incredibly poorly thought through and still vulnerable to fraud. That is why they are just blog posts and not real, not because it’s “still early days.” I think it’s fair to say trustless escrow is vaporware.
Programmable consensus and smart contracts are easy to learn concepts.
https://medium.com/coinmonks/escrow-service-as-a-smart-contr...
*Also one should know it is offensive to call another's work vaporware. Especially, when one is relying on anecdotes. Next I'm going to be told IBM and Google are wasting their time and shareholder money on blockchain.
So yes, fair to say it's vapor i.e. not a real thing. That may be harsh but it is a fair and supported criticism, whereas your prior comment merely engaged in unsupported mockery.
There are projects with a very high potential to provide those building blocks in development right now, like Matter Labs' use of zero-knowledge proofs to scale Ethereum:
But yea it's all very speculative right now. I speculate it will work, but it'll depend on what the various players in the industy actually accomplish.
Ethereum is the reason there have been so many ICOs in the past 3 years.
Are most ICO's scams? Yeah sadly. Are there lots of scams on Kickstarter/indiegogo/etc? Yes sadly.
But an ICO itself isn't necessarily a scam (although I concede 99% of them are)
The problem is that most of them are run by scammers, which do promise profit.
In an ICO, I get a... theoretical security? A kik kin coin that may or may not have value?
You don't back an ICO because its "value will go to the moon", you back an ICO because invents a new way for -- Creators to get paid instead of using advertisements, creative ways to organize some kind of distributed system.
The scam comes from them not completing their promises and leaving with the money and no "product". The coin's value is irrelevant (as long as it isn't 0)