NYU Crypto Funding Summit Details the perils of ICO
Thoughts from Crypto Funding Summit
Informative talk about what SEC may view as #securitytoken by Seth Goettelman today at #cryptofundingsummit in NYC. A lot of information laid out about why ICOs are bad, STOs are good and how they work. One of the main reasons CertifiedTrue has held off from funding via a token raise is the complete legal uncertainty and sadly, STOs still don’t fill that gap IMO.
So many people put up a pretty but vacuous whitepaper, often riddled with bad information, run out and grab Millions of dollars to fund their idea. An idea that makes no sense, whose business model cant pass the smell test. Worse, once they raise the money, they can’t even build a working MVP. Gives the rest of us a bad name. Only history can tell if we will be proven right for doing things the right way, like making sure we actually are solving a real, burning need and that we can actually build the solution.
Granted, the time for parting fools and their free money is over and irrational exuberance has turned to equally irrational #cryptowinter. But who knows? When the sky was raining money, maybe the only real fools were those who didn’t just build a bucket. That’s OK though. We are building a rocket to go far past the sky – to the moon and stars.