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Nick Ayton our London Correspondent aka the ‘Sage of Shoreditch’ having just completed his own ICO 21Million looks at the phenomenon of why the US is rapidly becoming a ‘no go’ area for ICOs.
The US is rapidly becoming a ‘no go’ areas for ICOs as some states and the SEC want to lock everyone up that is linked to the new capital market for no other reason as it dilutes their power and authority.
Please spare me the arguments against ICOs. It is not as they proclaim about protecting investors interests, the people - because not only do these bodies not care, they stand back and let the bankers do what they want.
And then the regulators pay for negative PR again proclaiming ICOs kill innovation because they see the real threat coming. ICOs are where the crowd decides who wins and who loses and not the few.
In 2008 did they protect investors or again today as another subprime car loan bubble emerges? Yet we let them get away with it, and why ICOs are an important part of delivering capital markets for the people.
But the community doesn’t care about any single authority or regulator, and many governments and jurisdictions that are progressive have embraced new capital markets and have started to build new service economies around it.
Blockchain powers socially responsible business models supporting supply chain, renewable energy, music and entertainment putting the people in control of their lives, their information and their identities. Banks will be the last adopters and by then the world will have moved on with new capital markets without banks. A great day that will be.
And yes it is these same bankers Goldman Sachs, Morgan Stanley, JP Morgan that are also piling into Blockchain as they see an opportunity to use this great technology to make even more profits, deploying it in the back office to speed up interbank transactions and payments, not to support customer engagement.
For too long there has been a cozy relationship between central banks, regulators and the bankers that pay for it all with our money.
"It is a system that isn’t fair, it is expensive and now it is being challenged by libertarian ICO Capital Markets, and they don’t like it, so some are joining in with the wrong end game in mind."
Have you ever tried to raise money for your idea, your project from the Venture Capital Ponzi Boys? Yes, the people that created the Dot-com bubble through greed and stupidity that convinced people to invest in businesses that made no money, creating crazy valuations and bubbles for one purpose - money.
Did they give it back? Of course not. Was anyone held accountable? Of course not. Is it a Ponzi Scheme of course it is!
The VC Ponzi boys work with their close mates of the bankers that stitch you up with expensive debt and then they manage you and your project from a spreadsheet. Very controlling it is too.
The smart young MBA type that have never run a proper business you find sitting on your board, where you have no choice and no real voting powers as your holding is diluted to pitiful levels of 10 percent or less.
As founder of the ‘Lean Startup’ professor Steve Blank explains the Venture Capital market business model comprises a system that hopes one in 10 investments do well covering all the loses – by definition a Ponzi Scheme!
The crypto crowd takes a different view with many people having made good returns from the rise of ETH, LTE, BTC and a range of other cryptos that are performing well and creating a surplus. This surplus is then reinvested in new ICO opportunities, does this sound familiar?
ICOs are part of a free market economy. They are Capital Markets 2.0 without the layers of middlemen, the erroneous fees and charges that are doing very well without a central authority, a validator, bank or government intervention thanks.
Uninhibited by draconian rules, expensive terms and the one percent that want to control everything and the best thing about ICOs is also what they were criticized for, but for me no bankers, no venture capitalists, no government means no tampering, no distorting or eroding value, no lies and manipulation.
"There are now hundreds of ICOs completed and in the calendar. The crypto exchanges are rammed."
Global volumes are increasing and with it so is Crypto MktCap. The number of users is increasing way beyond the ‘fake news’ of the only 30m active Wallets in circulation. This is due to that fact that there are many embedded in the crypto community that are not true believers, no doubt paid by banks and the establishment to try to stop the advance of the ICO driven Capital Markets 2.0 as there is little money to be made.
“Sorry, no middlemen required.”
When the global debt ‘fat lady’ sings it may well be that the Crypto Capital Markets is the only thing that works. So don’t try to kill the ICO phenomenon off too soon as we may need it and that time is rapidly approaching, isn’t it Mr. Banker as you are up to your old tricks once more…
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