Not doubting expertise. I'm saying an editorial input may have pointed out that the comparison is problematic.
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I believe, and my editors believe, it's an apt comparison, otherwise it wouldn't be in the story. But I'm interested in why you think it's a bad comparison.
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Thanks for engaging with my fulminating. My objection is with comparing a public company selling equity with a private one selling an indigenous currency to fund a work on a network that doesn't exist. A closer equivalent would be selling equity via crowdfunding sites early.
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I see your point, but with the amount of money they've raised, seems like they are more like an IPO and less like Star Citizen.
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Not sure scale is the only factor to consider here. I can see why it may seem like both are similar because they're funded largely by individual investors. IPOs are thought of as exits for a reason. What's happening with (most) ICOs is in effect a pre-order for goods(tokens).
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Actually, what's happening is the ICO is compressing the entire cycle. Now the fund-raising *is* the exit. The actual product is incidental.
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That's taking a very decisive view based on a short run of abundance. Both sides of the market will understand this. Just like Kickstarter hasn't eliminated all need for a supply chain or equity funding.
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You’re right. I don’t think they’re all get-rich-quick schemes, and I think the potential of the ICO model - done right - is fascinating.
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Replying to @paulvigna @pjux and
But the potential for a quick hit is there, and it is definitely attracting some bad players, as the SEC is already realizing.
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Replying to @paulvigna @pjux and
And, incidentally, I didn’t make up that “ICO is the exit” line. There are some doing it who are looking at it in exactly that way.
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disturbing.
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