I have a feeling that techies of my acquaintance will feel uneasy about the notion that their lambo was bought by the victim of an investment scam. And one of the innovations of Bitcoin is that it creates a scam where every participant can semi-plausibly deny scamming.
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Remember Cryptokitties? Cryptokitties is not just a joke; Cryptokitties got a lot of press coverage because it was the only thing running on the Ethereum network which was not either an explicit Ponzi scheme or an ICO. ICOs—investment scams—are Ethereum's killer app.
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Was that accidental? No. Platforms don't accidental the top use case on their home page. (Ctrl-F for "Kickstart a project with a trustless crowdsale", which is the barest possible fig leaf over the Howey test.)
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Not precisely fair. Crypto is clearly useful for illicit “money” transfers and as medium of exchange for illegal products & services.
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As for "actual dollars": the ICOs (which I agree are scams) raised funds in ethereum and Bitcoin so there is good reason to assume that people would buy their own tokens essentially for free. And don't forget that about 70% of ethereum supply was premined, so no actual dollars
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#Augur shipped, what are you talking about? There are lots of others in various states of production.Thanks. Twitter will use this to make your timeline better. UndoUndo
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Bitcoin was usable for a while, back when The Silk Road drug market was still open and ASIC mining hardware hadn't overconcentrated the mining side of things. Etherium might have uses besides being a good tool for implementing junk coins with. Maybe. ICOs were 99%-99.9% scams.
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Of course, we're the right tool for junkcoins !
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Also, you have to think that a lot of funds raised was stolen crypto.
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Wrong! The only ICO that has delivered actual benefits or real world use is called
@BitPopulous. They are now in beta state. Next month they go fully live with invoices from India. Do not trust me verify yourself -
Agreed.
#Populous is a rare ICO that has and continues to deliver. They have a working product using#PPT as a utility to access a#P2P lending platform to buy/sell invoices. Taps into 3+ trillion $ market currently dominated by banks. http://Populous.world .
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