Here is the honey, folks! Don't you get it? Donno who CoM1ner is, but he has NAILED IT on his second post.
Just a long time lurker, trader, and small time for-fun miner
A lot of the technology and nitty gritty goes over my head, but I have to thank the whole Crypto scene for the profits it has made me.
I have learned so much and truly believe in the underlying concept of blockchain technology.
Looking back, trading has really opened my eyes to the human psychology works. This factor alone has helped me in many aspects in life.
I would add some thoughts of mine, and would be glad to see your thoughts (posted on reddit, but not much activity there):
The way I see it 5 things need to take place in the next 2 years in order the token value to hit >50x:
1. Team: strong and skilled team that remains united (core team has to stay on the same page) and keeps in touch with the community - we sure have that for now!!
2. Platform: will have to be as transparent as possible, not to be compromised or hacked (big trust issues otherwise). So far no reason to think otherwise.
3. Funds (that is why we are here for
performance, ICNX and new funds on the platform will have to show profits
4. Legal - Iconomi will have to get this new concept trough the legal channels - funds and dividends. Investors and shareholders cannot be legally exposed.
5. Executing the final stage: upon points 1-4 there is NO WAY that a (pardon) shitload of money won't fly into the platform. Money that does between 0 and 10 percent annually. There is HUGE demand in the markets
for new areas to invest. So point 5 is all about being able to play the game in the grownups playground
A word about competitors - they will come, and when they do it will be yet another sign that we are on the right track.
ICONOMI hasn't been released yet but the mere fact that Cashila is behind it makes me very positive on the outlook. I definitely do consider the possible downside of losing money, but this concept is brilliant. I am really hoping the funds go to hiring good investors and other resources that will boost the price of the ICN tokens.
This wasn't your typical ICO where people had a vision and decided to raise funds and then figure out how to make that vision come true.
ICONOMI wants to be the first to make money off of the existing market. Cashila is willing to put their whole reputation on the line and risk losing everything if things go south.
I feel bad for mentioning this, but the DAO drove Slock.it's reputation into the ground. If Cashila is willing to risk 4 years worth of reputation (2013 inception,
https://en.bitcoin.it/wiki/Cashila), then I will ride the roller coaster ride with them.
It is so refreshing to see something new compared to the whole "We have a vision and we need you to help fund us so we can try to figure out how to make it happen" ICO BS that has been going on.
I would like to throw out a disclaimer that not all ICO's are scams. Just do your research and never risk more than you can lose. My advice is to stop funding ICO's without a near complete product. You really should only raise an uncapped ICO if you are using the funds to profit the investors.
ICONOMI did a great job with capping it. Keep it scarce. Don't take more than you can handle.
My gripe on ICO's is that they really need to be more transparent. Anyone these days can post some pretty logos and and their vision and ask for money and find free spammers for bounty rewards.
If I knew how, I would create a different method of raising money. Maybe someone can get the ball rolling.
The company would say how much they need upfront (with justification), how much they need total, and how much they need at each milestone. (They could negotiate the amounts with investors)
The initial amount needed would be supplied and then the rest of the money will be divided into each milestone depending on how much they need for the each milestone.
It would be wise for the company to set as many little milestones as possible to ensure the roadmap is detailed as possible and take into consideration the costs/salaries/etc.
The final milestone will hold the excess and be the incentive for the company to finish the project.
If funding were ever to run short, it could be voted among the investors and subtracted from the excess in the final milestone.
To give the company some leverage in case the voters don't unlock the final milestone after completion, the ICO bonus' and a portion of the investor's coins could be locked in the final milestone and unable to be retrieved until the project is completed.
A "time bomb" would be put into place (1 year) if a milestone is not completed in which the rest of the unlocked funds would be returned to the investors (or released to the company if majority of the major milestones have been completed).
This would give the company an incentive to keep the investors happy by completing milestones and also the investors a reason to support the company and help at all costs to unlock the rest of their funds.
If a company can't manage their time/money to the smallest details, they do not deserve holding millions of dollars in investor's funds to chase their
idea.
Afterall, the investors are the ones who are paying for them to make THEIR dream come true without any obligations and little to no risk. The risk needs to be distributed less from the investors and more to the companies.
Small ICO's really dont apply here but utilizing a structured and incentivised system is really needed right now with the amount of stillborn coins. Wasting investor's money is no joking matter.
To me the main important decision is safety and security of the project, if Ethereum network keeps performing like this it won't be a $1 billion dollar marketcap, because most of this valuation is based on speculation
You are right. In Ethereum's current stage, it is still early but there aren't many good alternatives in terms of a robust team.
Everything is a speculation. One year water bottles are a great cheap store of water. The next year, BPA's are all the panic. Switch over to BPA-free bottles and then the next year BPS (Bisphenol S) bottles are found to be just as bad.
Judging Ethereum, it has many hiccups, but the important thing is that the team isn't short on money, can dedicate their full time on improving Ethereum (Highly resilient), and they have a larger amount of interest from big names outside of the tiny Crypto world than any other altcoin.
It will be a roller coaster ride for sure, but thinking in the big picture, Ethereum doesn't look so bad. Its all about the potential and the product/tools on hand.
I imagine Ethereum like an engineer with lots of money, experience, and a great drive to try to make what they want to happen exactly how they want it to.
As much as I hate to say it, Bitcoin's biggest rival is working hard. I'm not taking sides but things could get pretty interesting in the next decade. I'm definitely excited to watch it unfold.
http://www.kissfromitaly.com/en/blog/how-the-ferrari-lamborghini-rivalry-beganPS: I think this is why all you Crypto kids unknowingly want to buy a Lamborghini
