"I think one day, in the distance future, the possibilty of being able to fund new initiatives and create ventures on a global basis without the traditional limitations is going to open opportunites for companies that have never had opportunities before. The problem is that first investors will have to run the gauntlet and swim in these shark invested waters full of these unscrupulous people, who are taking their sh** coin, and making an initial offering. Whose primary purpose is not to add funding for a worth while project... its not to generate value or take growth to a next level for something that is already worth while. They smell money in the water and they come like sharks. I would say at least 95% of the ICOs out there have no basis fundamentals or anything like that."
Absolutely! If 70-80% of new brick and mortar businesses fail in the first year and even less make it to 5 years than I believe Mr. Buterin to be correct. In fact I think he is being a bit optimistic ICO's don't need to spend much in the way of capital to get started so any dope with a computer and some basic copy & paste skills could start an ICO.
I know this is oversimplified but the guy is spot on here.
Thanks Louis, can't wait to see the discussion on your YouTube about this one.
I think 90% is super optimistic. I think 99% will fail and of the remaining 1% only 50% will be incredibly successful. There are currently so many ICO's and so much more to come. The 50% of the 1% will most probably be like a 50 ICO's if there ends up being a total of 10000 ICOs which at the current rate of ICOs is most probably not over exaggerated for the long term.
Makes sense because every time I turn around there's another huge ico wanting me to invest with it. Most of them I feel like have no purpose or there's already some other coin doing the same thing.
It is clear that the number of tokens will continue to grow exceptionally. Taking into account that the increase of the total population that uses crypto or invests in crypto does not grow in the same way. The result will be that many ICOs will fail.
Common sense leads me to share the same opinion as Vitalik Buterin.
It's worrying that he said that, but it's not the end of the world! In the universe of crypts ... There is always room for everyone! Of course you will always have currency scam ... but just be careful! Great post! Thanks for sharing!
This comment seems historically accurate. 90% of the dot.com companies failed as well. The crypto mania will likewise produce great innovative companies like apple, amazon and, expedia, paypal etc. at the expense of 90% of all cyrpto start ups.
Too many altcoin invetion wanted to jump on the winning train, a lot of them were created to scam people and exchange your holy Bitcoins with some overvalued coins.
That's not incorrect...
He is not that wrong. Majority of them will fall, and that's very normal. Many of them are tests, a "try", and many has not enough ambition or capacity to evolve. This is the same things we see in businesses.
Andreas Antonopoulos' comment on ICOs:
"I think one day, in the distance future, the possibilty of being able to fund new initiatives and create ventures on a global basis without the traditional limitations is going to open opportunites for companies that have never had opportunities before. The problem is that first investors will have to run the gauntlet and swim in these shark invested waters full of these unscrupulous people, who are taking their sh** coin, and making an initial offering. Whose primary purpose is not to add funding for a worth while project... its not to generate value or take growth to a next level for something that is already worth while. They smell money in the water and they come like sharks. I would say at least 95% of the ICOs out there have no basis fundamentals or anything like that."
Absolutely! If 70-80% of new brick and mortar businesses fail in the first year and even less make it to 5 years than I believe Mr. Buterin to be correct. In fact I think he is being a bit optimistic ICO's don't need to spend much in the way of capital to get started so any dope with a computer and some basic copy & paste skills could start an ICO.
I know this is oversimplified but the guy is spot on here.
Thanks Louis, can't wait to see the discussion on your YouTube about this one.
I think 90% is super optimistic. I think 99% will fail and of the remaining 1% only 50% will be incredibly successful. There are currently so many ICO's and so much more to come. The 50% of the 1% will most probably be like a 50 ICO's if there ends up being a total of 10000 ICOs which at the current rate of ICOs is most probably not over exaggerated for the long term.
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Vitalik legend!!
Makes sense because every time I turn around there's another huge ico wanting me to invest with it. Most of them I feel like have no purpose or there's already some other coin doing the same thing.
nice bro, all the best. I hoop you upvote and following me.thanks.
Man said "Fail" and that is it
It is clear that the number of tokens will continue to grow exceptionally. Taking into account that the increase of the total population that uses crypto or invests in crypto does not grow in the same way. The result will be that many ICOs will fail.
Common sense leads me to share the same opinion as Vitalik Buterin.
It's worrying that he said that, but it's not the end of the world! In the universe of crypts ... There is always room for everyone! Of course you will always have currency scam ... but just be careful! Great post! Thanks for sharing!
This comment seems historically accurate. 90% of the dot.com companies failed as well. The crypto mania will likewise produce great innovative companies like apple, amazon and, expedia, paypal etc. at the expense of 90% of all cyrpto start ups.
I think probably more than 90% @louisthomas we are seeing more and more ICOs every day - reminiscient of the dot com boom...
Alex
Too many altcoin invetion wanted to jump on the winning train, a lot of them were created to scam people and exchange your holy Bitcoins with some overvalued coins.
I like your strategy Louis. Really enjoy your videos.
Hi! I saw you video one youtube and that really inspired me, so im here:) Oh and love our content!
That's not incorrect...
He is not that wrong. Majority of them will fall, and that's very normal. Many of them are tests, a "try", and many has not enough ambition or capacity to evolve. This is the same things we see in businesses.