RE: My though about ICO and token sales
I would say even with due dilligence, if there is no clear guideline and accountability , it still calls for things going south, no matter who is behind the project.
This lack of clarity and accountability behind those scheme is still disturbing to me lol
And how much people are confident in the future value of tokens with nothing to back them up.
Its the beauty as long as everything keep going up, and the nightmare when things start to go south ..
And it seems very hard to know where the project/company is between beauty of magically going up, and crashing down as brutally.
When merchant are to be paid with a token, they dont want to be paid with a speculative asset as a pseudo share in a shady company, because they have true accountability to hold.
If there is no backing of the value, it worth close to nothing as a currency for merchants.
Normally the backing should not be too hard to provide with clear accountability on the buying and selling of tokens, as all the dollars in to buy the token should be used to back the value, but i dont see much ico providing even this.
you have just described the beauty...lol...nothing in life is certain but death...what you are looking for sir is certainty and guarantee...i suppose it will be a matter of time before these crypto's offer it but until then...be safe, peace and experience history in the making..
Not certainty and garantee, but at least some amount of clarity in accountability, and minimum of perspective and planning ..
Otherwise i dont see any use of blockchain if the price cannot be garanteed a minimum, neither for merchants or users who are not pseudo trader in greater fool game.
Well we prepared an ico last year, but since the beginning i was not fond of the idea, especially with the guy i was doing it with, it could only go south.
Even escrow and all they are far from being really serious lol
Ive been into startup before, with true share holding agreements, investors etc, even with things being well defined with good perspective, its already hard to really balance cash flow, with ico i really have hard time to see how token could gain in value that much with honnest methods of real economy.
I could maybe do an ico soon, im still preparing my system of distributed app, i will soon have good project running i guess, but we thought about all this in depth last year with lawyer and people used to investment, boss of software company etc, i really dont see how ico can turn to something really serious and sound lol
Even if the project take off, i dont see how coin value can be connected in any sound way with company success, even steem is good example of this, its rather successfull project, we dont see the coin pruce skyrocketting either, and i dont see any reason why it would actually ..
I really have hard time to see how to make this work in a way that investor can get fair benefits from success, and keeping things as clear and legal as possible, and i dont see how ico can get there.
Its not like stock options or share where there is a real legal pegging of the value to something tangibly related to project success and accountability, neither like currency or actual tokens where the value is backed to a minimum safe value.
Its not about certainty but at least legality, honnesty and good fundation for a project, where progress expanse and income can be controlled a minimum with a set direction, even if result are never certain.
And if there is already no order and garantee set at the early stage, it will rarely improve latter ..