Every issue I cited has basically happened already. Breitmans are 1) arrogant and 2) authoritarians and 3) know nothing about corporate governance, agency issues, or basic ethics.
Couldn't agree more. Tezos is fluff disguised as revolutionary technology and it's about to implode. It's no wonder the same VC behind Theranos (the biotech company that imploded a few years ago) is also the VC behind this.
the flipside, the fallout at Tezos shines a spotlight on a whole new set of risks that upcoming ICOs and investors alike could similarly face if they're not careful. Perhaps the reality is a little bit of both scenarios.
So true. One of the most desired ICO of 2017 but still with human factor no crypto technology can change how we act or communicate with our partners. :) I hope everything will be ok
i can't figure out the draw into ICO's. if it's a solid project and you believe in it, why take that type of risk so early on? even if the coin jumps huge after it's available to the public, there should still be room for profit if you wait a moment.
Very true- and a very fair / sensible way to approach things these days. Thanks for pointing out one often overlook way of investing into these tokens. It's better to wait and see how these teams handle themselves, surely, okbuddy! Thanks for sharing
Tezos was far too hyped up, I really don't see what the fuss is about. New technologies are coming out all the time and Tezos is nothing special. If anything Cardano already has a far more technologically advanced value proposal. With all the money in this project something like this happening was inevitable.
Omar @crypt0 I have bought a few ICO's over the last few months. I am doing much better NOT getting involved in the ICO but looking at it after it shows up on coinmarketcap.......Just my 2 cents
As a tezos investor, I'm not thrilled about this news. It might spell disaster. But the project appeared to be developing nicely otherwise the last time I checked, and mainstream media FUD should always be taken with a grain of salt ... especially when it may lead some to sell their tokens for bargain-prices to big investors who missed a previous buying opportunity.
I'd rather risk losing money to a project that may be going to hell than risk lining the pockets of some clever wall street type at my future self's expense.
It's pretty ironic that the key feature of Tezos is it puts rules of governance under control of the blockchain itself (at least as I understood it). So you don't have to rely on human factors like a bunch of miners deciding to adopt your new blockchain code changes. That kind of issue has been a bone of contention for both BTC and ETH so far resulting in the BCH and ETC forks of those currencies. With Tezos such decisions can be put on the blockchain and automatically rolled out... And if mistakes are made they can be rolled back too. This feature would have allowed the modification to ETH to "undo" the DAO contract "glitch" to be voted on and roles out without a hard fork, and if it was subsequently found to be a problem it could have been reversed.
I'm not sure what other features Tezos has but that to me was a big one. I didn't invest in it but I think it is a novel concept. So yes, ironic that this coin which is innovating in blockchain governance is getting bogged down in governance issues before it even got launched.
A bunch of my co-workers bought into tezos soley because someone who made a fortune as an early adpoter of of ETH told them it was going to be big. I have a feeling its going be a bust, whats the application of this blockchain? Out of 4 people i know who invested in this not one could provide an answer, thats when you no its a doomed bubble
My gut was telling me to stay away from this one Omar. Before the crowdsale I spent a lot of time on their Slack. They are very arrogant group just to put it nicely. The comments that were made by Tezos founder Authur were reg flags a internal management crisis like this would happen. Very ironic since they entire "competitive advantage" is governance.
Hi @crypt0 Really dig your work. We are putting together a Steem Event in Las Vegas in March. What is the best way to contact you. See if you would like to speak at the event. Thank you man.
Every issue I cited has basically happened already. Breitmans are 1) arrogant and 2) authoritarians and 3) know nothing about corporate governance, agency issues, or basic ethics.
Beta-ing the Tezos Experience: Red Flags for the ICO and Open Questions
Couldn't agree more. Tezos is fluff disguised as revolutionary technology and it's about to implode. It's no wonder the same VC behind Theranos (the biotech company that imploded a few years ago) is also the VC behind this.
the flipside, the fallout at Tezos shines a spotlight on a whole new set of risks that upcoming ICOs and investors alike could similarly face if they're not careful. Perhaps the reality is a little bit of both scenarios.
Amen, Tamaris--couldn't agree more.
Hi friend thank you so much for your upvotes I really appreciate that be blessed.
So true. One of the most desired ICO of 2017 but still with human factor no crypto technology can change how we act or communicate with our partners. :) I hope everything will be ok
i can't figure out the draw into ICO's. if it's a solid project and you believe in it, why take that type of risk so early on? even if the coin jumps huge after it's available to the public, there should still be room for profit if you wait a moment.
Very true- and a very fair / sensible way to approach things these days. Thanks for pointing out one often overlook way of investing into these tokens. It's better to wait and see how these teams handle themselves, surely, okbuddy! Thanks for sharing
Crypt0 thanks for these updates! And please make videos upon electroneum. Should we invest in it or not.
I'll have to do more research! I'll look into it, thanks for the suggestion, raghwendra!
I’m staying away at the moment. It has a user referral program and way too many units.
Tezos was far too hyped up, I really don't see what the fuss is about. New technologies are coming out all the time and Tezos is nothing special. If anything Cardano already has a far more technologically advanced value proposal. With all the money in this project something like this happening was inevitable.
Omar @crypt0 I have bought a few ICO's over the last few months. I am doing much better NOT getting involved in the ICO but looking at it after it shows up on coinmarketcap.......Just my 2 cents
As a tezos investor, I'm not thrilled about this news. It might spell disaster. But the project appeared to be developing nicely otherwise the last time I checked, and mainstream media FUD should always be taken with a grain of salt ... especially when it may lead some to sell their tokens for bargain-prices to big investors who missed a previous buying opportunity.
I'd rather risk losing money to a project that may be going to hell than risk lining the pockets of some clever wall street type at my future self's expense.
It's pretty ironic that the key feature of Tezos is it puts rules of governance under control of the blockchain itself (at least as I understood it). So you don't have to rely on human factors like a bunch of miners deciding to adopt your new blockchain code changes. That kind of issue has been a bone of contention for both BTC and ETH so far resulting in the BCH and ETC forks of those currencies. With Tezos such decisions can be put on the blockchain and automatically rolled out... And if mistakes are made they can be rolled back too. This feature would have allowed the modification to ETH to "undo" the DAO contract "glitch" to be voted on and roles out without a hard fork, and if it was subsequently found to be a problem it could have been reversed.
I'm not sure what other features Tezos has but that to me was a big one. I didn't invest in it but I think it is a novel concept. So yes, ironic that this coin which is innovating in blockchain governance is getting bogged down in governance issues before it even got launched.
If you want to read more about this crypto spat between the Tezos creators and their Swiss foundation you can check out this Reuters article: https://uk.reuters.com/article/uk-bitcoin-funding-tezos-special-report/backroom-battle-imperils-230-million-cryptocurrency-venture-idUKKBN1CN35A
A bunch of my co-workers bought into tezos soley because someone who made a fortune as an early adpoter of of ETH told them it was going to be big. I have a feeling its going be a bust, whats the application of this blockchain? Out of 4 people i know who invested in this not one could provide an answer, thats when you no its a doomed bubble
My gut was telling me to stay away from this one Omar. Before the crowdsale I spent a lot of time on their Slack. They are very arrogant group just to put it nicely. The comments that were made by Tezos founder Authur were reg flags a internal management crisis like this would happen. Very ironic since they entire "competitive advantage" is governance.
The word has not only to spread, that would explain so much...
Thanks for sharing this video
Omar, when you get a chance checkout SmartCash.
@smartbot tip @crypto 5
Hi @crypt0 Really dig your work. We are putting together a Steem Event in Las Vegas in March. What is the best way to contact you. See if you would like to speak at the event. Thank you man.
good