Yes I'll skip this ICO, there are plenty fishes in the pond. This dev doesn't care about the community, and they took too much in ICO, doesn't make sense to me. There are better ones out there.
There are some good points raised there. It is always difficult to predict and consider all the possibilities. One thing is for sure: if they made a capped ICO it could end up in hours with no smaller fish buying shit. Then whales would dump at high prices at the first opportunity in the exchanges. So it is a loss-loss game. At least whales won't do that easily if anyone have the opportunity to buy it in the fixed rate of 1 BTC = 5000 XTZ + bonus. And starting as a purely speculative coin is detrimental to the adoption of the coin. So I kinda understand the uncapped ICO.
I don't care much about the amount of money this or that person/company puts in Breitman's pockets. I don't think they are after some ponzi scheme of the sorts to get rich and turn their backs to the project, I even suspect they are already settled in this respect to a point. No, I think they are even too ambitious about the development of the things, from the non-monetary point of view, and that they care a lot about their public image. Their stratospheric ambition is shown in the overly naïve, absurd, passage:
"Negotiate with a small nation-state the recognition of Tezos as one of their official state currency, which would immediately give Tezos favorable treatment in terms of financial regulation. Attempt negotiations to purchase or lease sovereign land."Not only overly forward and ambitious, I also wonder: so what? Tezos is the official currency in some non-important-obscure country, and? I see no major gain in this, simply a non-sequitur from their premises.
In any case, it does show they are not merely after fiat. They clearly want to be important in the scene, and this is a positive thing.
But I totally agree with that reddit about the
governance problem. This is the main aspect of the coin, but there seems to be nothing much concrete to block the formation of cartels in Tezos network, even being their game-theoretical currency apparently very fun to play with. That's the major setback for me. What is the difference between chinese miners' cartels and high stakers' cartels? At least in the former case they put some economical activity in motion - being it for now electricity consuming, while the latter is just the old and well known state-of-affairs.
