Initial Troll Offering: Reddit's ICO to troll Wall Street
We had relayed the information in our newsletter: Interactive Broker recently offered a page in the Wall Street Journal (WSJ). In an open letter, the group implores the CME to separate Bitcoin from other assets. In response, part of the internet has decided to launch the first Initial Troll Offering (ITO) to propel the Bitcoin Wizard in full page in the WSJ. The "Bitcoin Wizard" is a mocking no-nonsense logo straight out of Paint, and emblem of / r / Bitcoin.
The "open letter" of Interactive Brokers
With the long-awaited arrival of futures on bitcoin, some big names on Wall Street are voicing their concerns. Thus the president of Interactive Brokers (IB), one of the leading brokers and forex brokers, addressed the CME in an open letter in the famous Wall Street. Newspaper.
In his view, it is essential that Bitcoin be clearly distinguished from other financial products. According to him, the volatility and immaturity of the bitcoin market could have an impact on all market prices. The letter goes on to point out that the market is not yet more than 10 years old and depends little or nothing on economic circumstances or "reality in the world".
According to this open letter, accepting Bitcoin futures is a "suicidal" maneuver and the volatility of Bitcoin could "destroy the entire economy". It was therefore asked to make a clear distinction between Bitcoin and the "real economy / real markets". According to IB, the only "real economy" is that of Wall Street ... It speaks for itself.
The answer of the Internet
We can always rely on the Internet to ridicule those who take themselves too seriously. Thus the user @Cryptograffiti launched the idea of an ITO, an Inital Troll Offering, to make fun of the financial world.
"Usually referred to as an ITO, it is a fundraising campaign for ridiculous and fun concepts involving the trolling of institutions via Bitcoin ... The participants will finance a project whose only intention is to make fun of of things, people, or Jamie Dimon. "Whitepaper from btcwizard.fund
The initiative, although quite funny and potentially effective, is still the order of the hypothetical. Indeed, it takes about $ 350,000 for a full page in the Wall Street Journal. Funds raised now stand at just under 3 bitcoins, out of a total of 44.97 bitcoins.
It would not be the first time that a pic is addressed by pages of pub interposed. We still remember the great pub insert that had hit Jamie Dimon (decidedly ...)