You are viewing a single comment's thread from:

RE: Poloniex fed with 50 Ethereum orders - ICOs getting their cash

in #cryptocurrency7 years ago

ICO's are a great funding tool, but the Ethereum foundation should come up with some guidelines and standards for these. Maybe lock the funds in some sort of escrow with a monthly withdraw amount pegged to USD over 48 months. If you have a startup you vest your shares over several years to provide incentives to those building the platforms. I have no research or proof to back up the assertion, but it seems to me many of these ICO's might be instantly dumping more ether than is necessary to fund development. Some of the ICO platforms are great ideas, but I don't think any of them are 50+ million dollar software development effort.

While it's certainly not the Ethereum foundations job to do due diligence for ICO investors. They should look to establishing some near-term guidelines before this becomes a more serious problem. These guidelines would not stop ICO's that don't follow the guidelines from happening, but they will lend reputability and make the ones that do more trustworthy.

Promoting a more trustworthy internet is directly in the mission & vision statement of the Ethereum foundation. These ICO's are representatives of the Ethereum platform as a whole and they should be scrutinized before launch.

Every platform will have issues. Bitcoin had problems scaling for the past 2 years and I believe the ICO dilemma without guidelines will be Ethereum's version of a platform problem. It won't be the tech, but governance and bad actors will impact the platform without some hoops to jump through to be "trusted"

Sort:  

Correct and even if they do need the money you dont go dumping all of it in a day or 2 on the exchanges. Maybe phase 1 they need 10 % of the money and sell that much etc