Basic Attention Token (BAT) draws controversy days before today's ICO by raising cap from 15$ to 25$ to 35$ million during rising ETH prices
"I don't give a damn 'bout my BAT reputation"
Today , May 31 2017 marks the day of the Basic Attention Token ICO. And alot of people are not happy.
First off- a quick background:
What is it?
- It's a token that you get by opting in at looking at ADs through the Brave web browser
- It "can be used to obtain a variety of advertising and attention-based services on the Brave platform"
- Gives more privacy to users, better advertising performance for advertisers and publishers
Who is behind it ?
Brendan Eich - Creator of Mozilla and Javascript
Why are people upset?
- Raised Funding Cap from 15$ to 25$ to 35$ million days before ICO- People see this as a greedy move
OK , its not like everyone is angry and no one is going to invest, but if you spent some time in the #slack of Basic Attention Token, you would find many vocal, upset people.
Here's a few examples:
User gives his reasoning
Lastly, here's some more
I think some critics of the BAT ICO regarding the increasing price of ETH and no corresponding increase in token numbers is a display of naiveté. It is the way of the financial markets.
Had the price of ETH tanked, would those same critics added further funds to maintain the same ETH/BAT ratio? Perhaps I'm jaded but I'd imagine that those benefiting would consider their good fortune and leave the BAT Team to swallow any reductions.
When it comes to someone's hard-earned, I know of few issues where altruism trumps self-interest... and even fewer in the crypto currency trading world... well, maybe Humaniq/Pink/and the like.
To your questions - maybe and yes. We'll see...
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