Tell me why my Crypto Startup idea won't work

Re:Tell me why my Crypto Startup idea won't work by minasmarios on Tuesday April 20, 2021 @05:23AM (#26872451)

Instead of money, just Crypto. So early Startups/ Projects get funded as fast someone sends'em some coins. And the investors to be nerds/ crypto investors and can invest them on startups.

So the value is Startups will be really easily funded, fast and by anyone, disregarding the regulations and limits for fundraising with conventional money.

[ Parent | on HN ]

Re:Tell me why my Crypto Startup idea won't work by junippor on Tuesday April 20, 2021 @05:27AM (#26872482)

Again, the limitations with funding with money aren't a tech problem. The limitation aren't "regulations", or how "fast" you can send money. They're a legal one. There's literally no obstacle in wiring some startup some money. Where an obstacle DOES exist, is in you being able to credibly defend a claim on that equity in a court.

Imagine the following situation:

You: "I own 10% of the startup"

Judge: "You have no contract that proves that...."

You: "But I sent crypto instead of money!!"

Judge: "Oh in that case...!"

It's like when the word "crypto" is involved, people immediately surrender any critical thinking :-|

[ Parent | on HN ]