Initial Coin Offering - a scammy distribution model, stay away!
Yup and for a large variety of reasons too.
But since people are greedy scumbags they are tolerated.
This was not always the case either..
Rewind back a couple years and none of this was possible.
What happened?
New guys kept showing up lowering the bar.
The scene gets more scammy, greedy & corrupt as time goes on.
The reality here is almost no one cares about right or wrong.
The concept of ideology is long since forgotten and dead.
This whole Altcoin scene morphed into a giant infrastructure for running new pyramid scheme variants.
The ICO was adopted because it streamlined the coin creation process.
And allowed the so called dev's to bypass the fairness of a mined launched coin.
It then became possible for a device to buy or simply set aside vast premines at launch..
Where as before the dev'would have to invest in mining hardware and mine the coin at launch like everyone else.
Simply put it made exploitation far easier.
And in the process has set back the advancement of crypto by many years.
The ICO system is simply an exploited push into bad territory.. Centralization.
It will take years to get back to where we were... Once we get rid of the greedy profiteer leeches.
The reality is the ICO has raped and left for dead the concept of idealogy
It pissed all over it in in the name of "white paper" ROI's.
Ripple and Maidsafe and Ethereum had been launched when there was still credibility in crypto.
Back then the scene ignored those three shitcoin and we all called TV employees stupid scammy bullshit.
Those people are gone.
The new guys showing have no trouble supporting ANYTHING as long as it makes them money.
REAL MONEY!
Ideaology is not going to stand in their way.
If Satoshi wanted to launch an ICO he would have.. but he didn't did he?
What is different between back then and now?
It's simple..
Back then we wanted to break free from banks etc and start a fairly launched digital currency.
NOW?
We have scammy garbage like Ethereum..
That is not secure.. Not fair.. And hell not even a fucking CURRENCY.
Yes, back in 2014 and earlier people really believed in fairness and equity when they were talking about crypto currencies, to confirm what you said, look at this guy's comment -
Initial Coin Offering - a scammy distribution model, stay away!
Haha, but you can make money from that before it scam, why not use positive thoughts to make money from it instead of neglecting to ignore the opportunity and sad when you miss that. As ETH when down to 6$ if you can buy 100 ETH, in present you can have ~25k$ and can use this money for relax
Initial Coin Offering - a scammy distribution model, stay away!
Why do you think so, huh? Tell me know what you think.
Spoetnik explained it in his comment, you can also search plenty of info yourself as of why this is a scammy distribution model, if you are not a complete ignorant you will find all the info you need to know about ICO's.
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