Re:ICO startups band together to create $100M grant fund for...
by UncleEntity on Saturday February 17, 2018 @01:21PM
(#16401889)
> Is it legal for effectively crowdfunded projects to then fund other projects?
This makes me wonder, people (presumably) bought into an ICO to fund a specific goal and not to enable a new age of venture capitalists.
Though this could be another classic sign that we are witnessing a bubble in its pre-bust stage -- would seem to fit with the "spike the punch bowl" phase but with replacing central banks with core cryptcurrency advocates methinks.
Re:ICO startups band together to create $100M grant fund for...
by dcow on Saturday February 17, 2018 @05:54AM
(#16400133)
In what world does ignoring your core principles and breaking promises to users in order to spare some speculatively valuable digital assets equate to integrity?
Re:ICO startups band together to create $100M grant fund for...
by bitreality on Saturday February 17, 2018 @08:42AM
(#16400619)
I think right now the easy money is all in ICO's. Talented developers have much more incentive to just create a new coin than develop a dAPP on Ethereum. Eventually, this ICO craze should slow down, and it will make more financial sense to develop on top of existing coins.
Re:ICO startups band together to create $100M grant fund for...
by DennisP on Saturday February 17, 2018 @11:47AM
(#16401438)
Take a quick look at how many of those ICO tokens are built on top of Ethereum: https://coinmarketcap.com/tokens/
Most of those are connected to some kind of dApp project.
- Is it legal for effectively crowdfunded projects to then fund other projects?
- Ethereum has integrity, willing to change its core technology in order to become more scalable. But...
- Is "paying off" developers to build apps for it just evidence of the lack of apps naturally/organically being built?
- Yet Seed Stage funding from traditional VCs has dried up, so is this effectively a market response from technical-oriented now-wealthy investors, to make up for it?
I think these are hard yet important questions. Obviously, who doesn't wish they were rolling in this kind of cash to dole out? At the same time, we already have people building P2P dApps with our system (https://github.com/amark/gun/wiki/auth), you know, the ones that Ethereum/Dfinity/etc. can only dream of doing even after they hit their scaling goals (realtime character-by-character updates on decentralized social networks - https://www.youtube.com/watch?v=C3akdQJs55E , 3D multiplayer VR games - https://www.youtube.com/watch?v=s_m16-w6bBI , etc.), so it seems nonsensical that so much money is being offered to build Ethereum apps - is there genuinely a lack of developers?