Half of ICOs Die Within Four Months After Token Sales Finalized

Re:Half of ICOs Die Within Four Months After Token Sales Fin... by JohnJamesRambo on Monday July 09, 2018 @04:29PM (#17493191)

The early internet I used was just as barely usable as the Ethereum network is now. I remember being in the college computer lab and begging on simple things like a page to load. Just a few years later and I was able to watch videos on the computers streaming from the internet. Technology rapidly advances. I still realized back in those computer labs how revolutionary the internet was going to be, I feel the same way about crypto now.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by floren on Monday July 09, 2018 @04:40PM (#17493252)

That's the early web. The early Internet was connecting universities, companies, and government sites two decades before the web came around.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by confiscate on Monday July 09, 2018 @05:09PM (#17493444)

What attributes about crypto, makes you feel the same way? i.e. that it is going to be revolutionary

Because the example you said about the internet (from loading webpage to video streaming) does sound amazing. What's the "parallel" for crypto that you see?

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by chrisco255 on Monday July 09, 2018 @05:37PM (#17493643)

Streaming money. What if you were paid by the second instead of by the hour? Or your bank account filled up live as you worked or performed services? Or companies that provided services to other companies were compensated in the same way? Businesses live and die by cash flow. What if cash flows instantly 24/7?

What if you were able to do micropayments efficiently on the web?

What if many contractual agreements between parties were settled on blockchain, and monies held in escrow disbursed automatically based on pre-programmed rules?

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by throwawayqdhd on Tuesday July 10, 2018 @04:52AM (#17496357)

> Businesses live and die by cash flow. What if cash flows instantly 24/7?

Business payments are delayed not because there is an underlying fault in the payment systems (wire transfers are nearly instantaneous, at least within the country), but because businesses sit on payments.

A new technology isn't going to solve this problem. Businesses like to hold onto invoices as long as they can get away with it.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by jopsen on Monday July 09, 2018 @06:29PM (#17493927)

None of the what the crypto-currencies promise is impossible to do with a few independent central vendors implementing that same standards for payments and contracts.

And centralized solutions will always be faster.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by chrisco255 on Monday July 09, 2018 @07:13PM (#17494184)

Centralized databases are faster. Centralized consensus is dangerous for the same reason that a dictatorship is dangerous. The organization in charge of said solution would exercise dramatic control over the execution of said code. You need not look very far into the past to see egregious examples of organizations abusing their centralized position over data. I shudder the thought of a centralized actor having the same precise control over all monetary transfers.

Meanwhile, the banking system itself is not centralized. It's quite slow to settle monetary transfers from bank-to-bank.

Right now, Lightning Network is live on BTC's chain. It's instant, near free, and yet it's decentralized.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by jopsen on Monday July 09, 2018 @07:49PM (#17494356)

Look at how certificate transparency is done.. a few servers using same protocol is all it takes.

Most crypto-things have this idea that they servers validating transactions have to be compensated and that anyone can do this validation. (validation == mining)

Having a few well regulated entities do all the mining is a centralized system that can be verified externally. Without all the cost of decentralization. And with the added security that validators are trusted entities.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by kvakva on Tuesday July 10, 2018 @05:37AM (#17496567)

There are rarely completely centralized consensus. You have different sides which for better or worse create consensus together. You have a law, prosecutors, activists. Sure you have corrupt politicians which centralized power a lot but this would is a problem for crypto space as well because of the people will access crypto through a classical business which can lobby for own interest.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by atomical on Monday July 09, 2018 @07:56PM (#17494382)

A settlement of a crypto payment is much faster than a credit card payment in terms of settlement time. And a credit card payment is centralized.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by JohnJamesRambo on Monday July 09, 2018 @05:36PM (#17493640)

https://i.redd.it/l5y9p9nqwu811.png

This sums it up better than I could. The wrenching of power away from centralized authorities and organizations (which we have seen abuse us and our privacy mercilessly for their gain) to decentralized applications with no middlemen, that are free of censorship, and can not be "stopped."

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by confiscate on Monday July 09, 2018 @06:35PM (#17493961)

I want crypto to succeed, but I have a hard time seeing the parallel you mentioned. One example benefitted you personally, while the other is a good concept in theory.

In your example of the early internet (too slow to load webpage, to streaming video), you described a direct benefit you experienced personally (you needed to access a piece of content and it got that to you fast)

But when you use crypto, you said it's revolutionary because it "wrenches power from centralized authorities". That is not a direct benefit you experienced personally. That description is a high-level concept.

So, it's hard for me to see the parallel.

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by Fomite on Tuesday July 10, 2018 @12:14AM (#17495415)

Reading that, all I can get out of it is "Do things without people who are experts in that field, try to reinvent their expertise on the fly, and fuck up on the way."

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by anyfoo on Monday July 09, 2018 @06:44PM (#17494025)

Some of that is just playing with definitions. "Have Internet without an ISP", how? And how does cryptocurrency help?

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by mrep on Monday July 09, 2018 @10:48PM (#17495060)

LOL. You still need middlemen with cryptocurrencies in all those cases because the middleman is now run across computers that don't scale whatsover (hardcoded limit in processing which is the worst type of scaling possible and scaling is the main reason software is a profitable industry). To make matters worse, you have no way of funding the developers to build the software required for the decentralized software outside of "buy our coins and hope they rise in price forever".

How is there still this much FAD in cryptocurrencies considering their terrible scaling technology and economic solutions?

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Re:Half of ICOs Die Within Four Months After Token Sales Fin... by plttn on Tuesday July 10, 2018 @11:40AM (#17499032)

I'd hire a lawyer because I trust their legal knowledge.

So without a bank, who's going to loan you money? Because unless you're donating pennies from hundreds of thousands of people, it's going to be an entity with a fair amount of $CURRENCY, so basically a bank.

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