ICO was criticized and market participants remained worried about government regulation


nnnDuring the break: ICO has recently suffered a lot of criticism, this paper focused on several industry celebrities point of view, to further explore the ICO should be what kind of attitude. In general, we all recognize the role of the ICO, and it does make it easier for people to get funding for meaningful work. However, people have also seen a lot of bad items removed, ICO quality is not guaranteed, but as to whether the need for government intervention in the regulation, people are still hesitant.n
nnTranslated by: Inan
nMore recently, Charlie Lee, founder of Lehman coins, pointed out that the boom in the first tokens (ICO) was out of control because people did not learn from the previous DAO events. Just started from Coinbase to concentrate on the development of Leite coins in Mr. Lee said the ICO is about the outbreak of the disaster.n
nn
nBe criticizedn
nICO has recently been severely criticized, especially for being scam. But it is still one of the most outstanding innovations in the digital money field, showing how to raise funds in the free market without government and bank involvement. In addition, it eliminates the cost of traditional IPO and heavy obstacles.n
nBut may the ICO market really need government involvement?n
nn
nUnfoundedn
nTrive is a company that uses block chains to eliminate crowdsourcing and digital currency fake news, whose founder David Mondrus says ICO is the end of Wall Street monopoly. He said Li Qiwei’s fear is unfounded:n
nn”A lot of people think this is an upcoming disaster, I do not know Charlie think so specific reasons, but I have experienced the Internet bubble, we boil over, no matter what will happen, we will be immune, after all, Google And Facebook is also developed after the Internet bubble.n
nnFrom David’s point of view, in any market, the primary condition of success is to obtain capital, rather than skill level, execution or creativity. “Because Amazon made a lot of money through the IPO and follow – up activities, so in the United States to build so many warehouses to serve customers, which is its competitors can not do.n
n

n
nMarc Kenigsbergn
nFor Marc Kenigsberg of Bitcoinchaser, government companies and their peers hope that the community will fail, but can not provide them with such arguments. Marc implied:n
nn”The ICO financing tool is simply incredible and better reflects the possibility of an updated distributed economy.”n
nnBitcoin Powpow’s Murray Barnetson holds a similar view that the ICO is the second largest boom in the business world (the first is the digital currency). “It provides opportunities for all people with ideal and smartphones to develop their business and can raise money directly from billions of people.”n
nn
nReduce participation costsn
nThere is no doubt that ICO is getting rid of bureaucratic tendencies and raising funds for the cumbersome process of production. This makes it ideal for people to raise funds for implementation without having to go through anybody’s permission.n
nMurray explained to Cointelegraph: “The oldest (IPO) only the bravest and richest people can participate, because the listing, remain active, follow the bill and so on need to spend a lot of money.n
nn
nNext Amazonn
nBut he also agrees that ICO is an imminent disaster and will lead to a severe digital currency crisis.n
nMurray said:n
nn”I have not seen any business plans, forecasts, marketing plans, etc. The number of garbage items that have emerged is so much a headache, and the ICO The number may increase exponentially, and sometimes people are aware of being cheated or investing in a 16-year-old child who does not know what they are doing, although some ICO projects will be the next Amazon, Google or Apple, But most will fail. “n
nnAccording to David Mondrus, the company’s listing costs around $ 2 million and sales of at least $ 100 million. He was convinced that it was unfriendly to small businesses. Although credit has been provided to small businesses at high interest rates in the past, only recently the most reputable companies have access to these credits.n
nHe further explained:n
nn”While it is also possible to invest in seeds and angels, the cost of ICO is only some code and a website, and in contrast, other methods spend more money and time, but less money is raised.”n
nnn
nRegulatory ICO?n
nAll members of the community interviewed by Cointelegraph are opposed to urging the government to participate in the regulation to “protect” the public. In their view, this will undermine the purpose of the entire ICO idea.n
nDavid Mondrus’s reason is that if regulators are due diligence over the past 30 years, this will not happen now and there will be a contradiction in the regulation of this area:n
nn”The ICO is beyond specification (like BTC), and trying to do it is stupid, it is a way to bypass Wall Street monopoly, but as an unprotected byproduct, it has almost no quality assurance.”n
nnFor Marc, calling for regulation is the same as removing the good and the bad. He believes that outside people do not understand, between good and bad is not so obvious boundaries. However, his idea is that both sides should bear some responsibility.n
nn
nBasic measuresn
nMurray suggested that if you want to carry out ICO, then the speed is faster, to find the right creative and reliable board members. More importantly, think about whether their ideas really solve the problem or create the new things we need.n

Leave a Reply

Your email address will not be published. Required fields are marked *