[2017-05-29] Bitcoin Fans Say Cryptocurrency Tokens Are the Future of Tech...

[BurstIncomeAsset]

Bitcoin Fans Say Cryptocurrency Tokens Are the Future of Tech Funding

Ever since Bitcoin first appeared on the scene several years ago, fans of the cryptocurrency have been searching for a way to apply the idea that might capture the public imagination and broaden the use of the technology beyond just geeks and programmers.

Now, some believe that application has appeared with the rise of the "token" economy, in which companies or startup ventures fund their operations by handing out units of cryptocurrencies. Some companies have even done what are known as "initial coin offerings" or ICOs, in which they distribute tokens instead of shares to investors.

The cryptocurrency market is seen by some as a bubble with hugely inflated prices. Some observers say bitcoin and other similar ventures are similar to Linux, an open-source alternative to Microsoft's Windows operating system that has never really achieved mainstream success.

But entrepreneur and investor Balaji Srinivasan, a partner at Silicon Valley venture capital firm Andreessen Horowitz, believes that token-based systems "may eventually create and capture more value than the last generation of Internet companies."

http://fortune.com/2017/05/29/bitcoin-crypto-tokens/

[1715240626]

1715240626

[1715240626]

1715240626

[Qartada]

I don't get this at all.  There's really no point having a new currency every time you want to create a company.  It's basically just a barren land of pump and dump coins that never do anything as an actual currency.

If you find a real blockchain application, then it's great to have an ICO, but to have an ICO for ordinary companies doesn't make any sense.

The only reason you would do it is based on the expectation that a lot of speculators and "dumb money" will get involved.  This would change if ICOs because more common, and then the transition would have done nothing.

[BitFinnese]

Isn't it happening now?  There are lots of crowdfunding offering cryptocurrency token to fund their projects.  I do believe and agree that the once old system of crowdfunding will be replace by these cryptocurrency token sales.  This is far more beneficial to donators since they have a chance to profit from this crowdfunding.

[Bit_Happy]

...Some observers say bitcoin and other similar ventures are similar to Linux, an open-source alternative to Microsoft's Windows operating system that has never really achieved mainstream success...

Almost funny:
A huge % of all websites are hosted on Linux, so I suppose "mainstream success" has a different meaning to the author.

[andreibi]

The author has no idea, he's sourcing from anecdotal notes.

[Bodywowoya]

The author has no idea, he's sourcing from anecdotal notes.

There is a proverb that says that every joke has its own share of truth. Maybe a person just wants to think or is deceived by other users.

[Omega Weapon]

...Some observers say bitcoin and other similar ventures are similar to Linux, an open-source alternative to Microsoft's Windows operating system that has never really achieved mainstream success...

Almost funny:
A huge % of all websites are hosted on Linux, so I suppose "mainstream success" has a different meaning to the author.

True while Linux may not have won the desktop battle and windows emerged victorious, most servers use some flavor of Linux, can you imagine if people tried to run those servers on windows? Also android is very popular in mobile phones, and android is based on Linux too, to me it seems that even if it has taken a lot of time, Linux will win in the end.