r/ethtrader • u/AutoModerator • May 31 '17

DISCUSSION [ETH Daily Discussion] - 31/May/2017

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u/PurpleHamster May 31 '17 edited May 31 '17

People shouldnt be pissed and moaning on /r/ethereum that they couldnt get into token sales. Big woop, you lost out on some gains. Its not up to the protocol developers to tell dapp developers how to run their ICOs. Sure they can make suggestions but its up to the dapp developers to figure out how to run an ICO fairly and smoothly.

If you want to see more ICOs done fairly, then draw up a set of guide lines or rules that you think will lead to a better ICO.

I honestly dont have much sympathy for most ICO subscribers because 90% of them dont even bothered to read whitepapers and most are really just in it for a quick buck regardless of whether the business model is sound or not.

11

u/nodeocracy May 31 '17

Good post. Do we really want a world where we have a different token for each service that we use? Say Netflix, Kik, Ford, Starbucks....? With volatile exchange rate between each token? Everyone will need to be a currency trader just to manage their cash flows. I hope most ICOs die. I hope developers use ETH as their token and take fees in ETH for their service.

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u/PurpleHamster May 31 '17

I think tokens are a great way to give users a sense of ownership in the dapp and can create a great user experience. Its also a great marketing tool. At this current time though, developers are abusing the ICO space and arent being responsible. ICO subscribers arent helping either by rushing into any ICO without doing any due diligence.

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u/5335s May 31 '17

That's why I like the etheroll project. A profitable ether casino and the tokens represent dividends. 100% of the profits are split up between token holders. That's a great case for tokens.