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Ever heard of a coin called ucash? You should have. It’s in the world’s top 25 cryptocurrencies after all, based on market cap, placing it higher than stratis, omisego, and zcash. Making it to the hallowed heights of 21st, where ucash placed on February 12, calls for mainstream media coverage, a growing user base, and significant adoption you would think. As it turns out, ucash is an outlier – a nothing coin whose ascent is proof that you can’t judge a coin by its cap.
Fake It Till You Make It
It’s widely accepted that market capitalization – that is, the total value of all coins in circulation multiplied by their last traded price – is a crude reckoner. As an approximate guide to the relative size of respective cryptocurrencies, market cap usually suffices, but there are occasions when it’s glaringly wrong. Ucash is the perfect case in point. The obscure altcoin – or shitcoin, as such offerings are pejoratively described – rose out of nowhere this week to soar into the crypto top 100.
As anyone with a cursory knowledge of market cap metrics will know, gaming the system is extremely easy. All it takes is for someone to create a shitcoin with a circulating supply of 150 billion, list it on an equally shit exchange, sell one coin for $ 1 and instantly it’s worth more than bitcoin. The same trick that propelled dentacoin into 21st spot in the cryptocurrency rankings last month has now done the same for ucash. The exchange it’s traded on, BTC-Alpha, is a dubious Russian site, registered in the UK, with 600 Telegram followers, less than 2,000 Twitter followers, and a logo that’s ripped off of Maestro. But because it’s listed on Coinmarketcap, it’s eligible for inclusion in what passes for crypto’s “official” ranking system.
Getting High On Your Own Supply
There are 325 billion dentacoins in circulation and 8.6 billion ucash, which explains why they’ve managed to artificially climb so high. Whether or not ucash was the result of a pump and dump is immaterial; on low liquidity exchanges like BTC-Alpha, everyone’s a whale and every coin is ultra volatile.
Coinmarketcap’s extensive range of altcoins often makes for entertaining reading, especially when filtered by percentage gain. This week’s big performer, going by that metric, is unity ingot which is up 3,600%, though like ucash it’s only available on one tiny exchange. Although ucash and unity ingot are extremes, they illustrate why you should never judge a coin by its market cap.
Do you think there’s a better metric than market cap for rating cryptocurrencies? Let us know in the comments section below.
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The post Here’s Why You Can’t Judge a Coin by Its Market Cap appeared first on Bitcoin News.
While European institutions are issuing another series of warnings about the risks and sins of dealing with bitcoin, crypto communities on the Old Continent are trying to preserve freedoms not granted by Brussels. Two exchanges from opposite corners of New Europe have announced plans to offer peer-to-peer cryptocurrency trading. Latvia-based Hodlhodl has launched its new P2P platform in beta-mode, and Bulgarian Crypto.bg is developing its own service that may replace the fiat medium with a token.
Intensive work to develop decentralized and unregulated crypto markets has been going on in the EU periphery, where memories of excessive regulation and centralization, political and economic, are still vivid. Two exchanges from both ends of (New) Europe have announced preparations to offer full-fledged P2P services to their users, with global aspirations in mind, as well.
Latvian exchange Hodlhodl has just launched a beta-version of its new platform designed to accommodate safe and secure peer-to-peer transactions of bitcoin and other cryptocurrencies. Users can now open accounts, fill out their profiles, set up two-factor authentication, create offers and study available functionalities. Contracts are currently disabled but developers hope to complete the order book and launch them within a week, the company shared in a blog post.
In the first stage of the project only bitcoin (BTC) and litecoin (LTC) will be traded. The exchange will operate in beta-mode until July 2018 with 0% commission. A fee of max 0.6% per trade will be applied after that. “The P2P Bitcoin exchange that doesn’t hold funds” will introduce multisig (P2SH) contracts that will allow users to control their funds in escrow. Hodlhodl offers support of native Bech32 Segwit addresses and P2SH-P2WSH Segwit multisig escrow addresses. The exchange services will be decentralized and no KYC (Know Your Customer) or AML (Anti-Money Laundering) procedures will be applied. Passing an “absolutely voluntary verification”, however, will lower commissions to 0.5%.
Plans for the future include introducing support for Lightning Network micropayments and other cryptocurrencies. The website menus are now available in English and Russian, but other languages will be added. Hodlhodl will be working on optimizing transaction fees and increasing security for its users, while offering integration with wallet providers and a mobile version of the platform. Its team promises a “truly global” P2P cryptocurrency exchange.
Every Action Has a Reaction
In the opposite corner of Europe, in Bulgaria, a leading crypto trader has also announced that it is working on a P2P platform, after facing multiple issues with the traditional financial system. Crypto.bg was affected by a sudden crackdown last year when Bulgarian banks blocked access to accounts used by local exchanges. It ceased operations in early December, and then restarted trading before going offline again around Christmas. In January, Crypto.bg announced it was forced to suspend trade “indefinitely”.
This month the exchange posted on its website that it was exploring options to offer services without going through a bank. Now it is planning to trade Bitcoin on a new peer-to-peer platform that is currently under development. A new medium of exchange will be used instead of fiat currency – CryptoLev (Lev is the Euro pegged BGN). It will probably be an ERC20 token based on the Ethereum blockchain, founder and CEO Stamen Gorchev revealed in the company’s forum. He also mentioned Ethereum Classic as a cheaper alternative.
The new system will offer the opportunity to trade through Cryptolevs backed by a certain amount of bitcoin “locked” in a public address. A foundation modelled on the Ethereum Foundation in Switzerland may provide further guarantees in the future. Other Bulgarian exchanges have been invited to join the project. Xchange.bg, Altcoins.bg, and Cix.bg have also reported interruptions in their activities quoting various reasons including changing bank accounts.
Bank transfers will be made on a peer-to-peer basis and banks will not be able to tell if such transactions are bitcoin-related. Traders will actually be buying and selling Cryptolevs, used to purchase bitcoins. In addition to locally available services, payment options like Paypal and Skrill may also be added in the future, potentially opening the platform to global markets.
Relentless Euro Warnings
While both exchanges are working on their P2P platforms, European institutions have issued new warnings about bitcoin. Up to $ 5.5 billion of criminal money is being laundered in Europe using cryptocurrency, according to Europol. “It’s growing quite quickly and we’re quite concerned,” the agency’s director Rob Wainwright told the BBC. “The police cannot monitor those transactions. And if they do identify them as criminal, they have no way to freeze the assets unlike in the regular banking system”, Wainwright said.
This week, the European Securities and Markets Authority (ESMA) alerted European investors about the perils of obtaining cryptocurrencies in the absence of legal mechanisms of protection. The regulator charged with “safeguarding the stability of the European Union’s financial system” shared its concerns over the growing number of citizens buying cryptos while ignoring the risks. Valdis Dombrovskis, Vice-President of the European Commission responsible for the financial stability, financial services and the capital markets union, has expressed support for ESMA’s warning.
Do you think that peer-to-peer platforms will dominate cryptocurrency trade in the near future? Share your thoughts in the comments section below.
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While its trading clients might have preferred Coinbase to focus on improving its core service, the exchange is busy now expanding into another market. Coinbase Commerce has launched to help online stores handle payments in four leading cryptocurrencies.
San Francisco-based cryptocurrency exchange Coinbase has developed a new service that aims to simplify for merchants the adoption of multiple cryptocurrencies as payments for goods and services. Coinbase Commerce facilitates the acceptance of cryptocurrencies by monitoring, validating and confirming client transactions on each blockchain. And the company says that payments made from its customers are performed on-chain.
After a quiet soft launch test period, Coinbase Commerce was made available on Wednesday February 14 for all merchants globally. Online retailers everywhere can now use the service to accept bitcoin (BTC), bitcoin cash (BCH), ethereum (ETH) and litecoin (LTC) payments. It enables merchants to accept multiple cryptocurrencies directly into a user-controlled wallet. Unlike previous merchant tools that the company developed, this one is not a hosted service, meaning that retailers have actual control of their own digital currency.
The developers of Coinbase Commerce say that it can be directly integrated into a merchant’s checkout flow or added as a payment option on an e-commerce platform. With just an email address and a phone, merchants can sign up and begin accepting crypto payments. The service has already been integrated with Canada-headquartered Shopify (NYSE: SHOP), one of the largest multi-channel commerce platforms, boasting more than 500,000 merchants with a total gross merchandise volume exceeding $ 45 billion. They add that they are actively adding more integrations with such platforms to make accepting cryptocurrency as easy as possible for merchants.
While the service can be most easily explained to retailers from outside the cryptocurrency ecosystem as a Paypal checkout for bitcoin, it’s more of an actual competitor to the largest bitcoin payment processor in the world today – Bitpay. The digital asset service provider based in Atlanta, Georgia has been the dominant player in the sector for a while now but Coinbase, whose revenues exceeded $ 1 billion last year, might be the best placed firm to challenge it.
Is competition between Coinbase and Bitpay going to lead to better services? Tell us what you think in the comments section below.
Images courtesy of Shutterstock and Coinbase.
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Fysical, a decentralized location data market, used location data from its 1,000 data suppliers to prove that racially diverse crypto crowds are also the wealthiest.
It analyzed millions of anonymous location data points from the attendees of six major cryptocurrency and blockchain conferences to create insights, study foot traffic patterns, and determine the demographic makeup of the attendees. It used location data to trace the origin of conference attendees back to the zip code of their households, and cross referenced their zip code with public census data to create demographic statistics.
– Blockchain Conference, Washington DC, July ’17
– Block-Con, Los Angeles, October ’17
– Blockchain Expo North America, Santa Clara, November ’17
– Token Summit, San Francisco, December ’17
– World Crypto Economic Forum, San Francisco, January ‘ 18
– Blockchain Connect, San Francisco, January ‘ 18
Four Key Discoveries:
1) MOST RACIALLY DIVERSE: Blockchain Expo North America
2) HIGHEST AVERAGE INCOME: Blockchain Expo North America
3) LOWEST UNEMPLOYMENT RATE: Token Summit
4) MOST POST-GRADUATE DEGREES: Blockchain Conference
1) MOST RACIALLY DIVERSE: Blockchain Expo North America
Blockchain Expo North America drew a crowd that came from neighborhoods that were on average 48% Caucasian, 26% Asian, and 23% Hispanic, among top ethnic groups.
2) HIGHEST AVERAGE INCOME: Blockchain Expo North America
Blockchain Expo North America is a standout once again, but this time in the average earnings of attendees’ neighborhoods at $ 140k / year.
3) LOWEST UNEMPLOYMENT RATE: Token Summit
The attendees of Token Summit came from neighborhoods in which the average unemployment rate was 6.2%, versus the average of 6.9% seen across all conference attendees’ neighborhoods.
4) MOST POST-GRADUATE DEGREES: Blockchain Conference
These attendees came from neighborhoods in which 33% of the population had a post-graduate or professional degree.
What is Fysical?
Fysical is a decentralized location data market. It provides infrastructure for the transparent and compliant trade of location data on the blockchain.
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Blockchain based trading cards are all the rage, with one estimate placing the transaction value of ethereum games at $ 10 million a day. While the vast majority of these games are derivative and ephemeral, that’s not to say they can’t provide short-term entertainment. The latest addition to the Crypto Kitties stable is Crypto All Stars, which promises to bring all your “favorite Twitter shitposters” to the blockchain.
Pyramid Scheme Meets Proof of Ego
This week’s must-have blockchain game is next week’s relic, so the odds of Crypto All Stars standing the test of time seem remote. In the here and now though it’s a shameless but amusing take on the meme birthed by Crypto Kitties back in December. The project of Twitter trader Crypto Randy Marsh (who naturally includes himself as one of the cards), the game features many of the cryptoverse’s loudest luminaries including Crypto Cobain, Bitfinexed, and Ari Paul. Thanks to their desire not to be usurped by their peers, many of the “celebs” have already bought their own cards several times over.
There are many ways to make money in the cryptosphere, and appealing to traders’ natural vanity is a clever ploy. For the proles who don’t possess these “legendary” shitposters’ follower count or portfolio, there’s the satisfaction of at least getting to own one of the Crypto All Stars’ unique contracts…until the next sucker buys it off you at least. The prospect of witnessing crypto OGs slapping down $ 10,000 of ETH at a time to prove they’re the whales they purport to be is strangely satisfying.
For “players” who feel that 5 ETH for The Crypto Dog (avatar: a dog wearing sunglasses) is a tad pricey, there are cheaper bargains to be had in Ether Tulips, Crypto Kitties, Crypto Titties, Tron Dogs, and many more blockchain trading games. Open Sea marketplace has thousands of the virtual cards for sale. Ether Tulips is about to launch player battles, while strategic card based MMO Neon District is launching soon. Given the amount of ether wasted weekly in ICO exit scams and pyramid schemes, games like Crypto All Stars are arguably one of the better uses for the ethereum network.
What’s your favorite crypto trading game, or would you rather not waste your ether? Let us know in the comments section below.
Images courtesy of Shutterstock, Open Sea, and Crypto All Stars.
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Canada appears poised to become a new global hub for bitcoin miners. Already known to be attracting Chinese miners diversifying away from their home market with its cheap hydro-power electricity and cold climate, the country’s latest draw is easy access to capital. Firms such as Hut 8 are set to tap its welcoming market for early stage ventures.
Vancouver-based Hut 8 Mining Corp., a part of the Bitfury Group, is scheduled to list on the TSX Venture Exchange in Toronto, Canada this month. After its debut, Hut 8 will be 49 percent owned by the parent group, and the remaining stock in the hands of insiders and private placement investors.
It is planned that by mid of the year, Hut 8 will acquired 60 megawatts of Bitfury’s mining power in Canada and have an exclusive agreement with the parent company to develop new farms in all of North America, according to its investor presentation. Hedge fund mogul Mike Novogratz is also said to be financing the deal.
Bitfury reportedly has 172 megawatts of hashing power, mined over a million coins, and its yearly revenue was an estimated $ 350 million. And Chief Executive Officer Valery Vavilov puts the company’s market share at about 10 to 12 percent.
The Canadian Connection
Canada has been able to leverage its cold weather and cheap hydro-electric power to attract cryptocurrency miners, but in this case the came for another reason. The TSX allows firms to easily raise public funds, a critical point for Bitfury who needs to compete with the much larger Bitmain. “This industry’s dependency on highly efficient silicon can determine who wins and loses,” explained venture capital investor Bill Tai. “Part of this equation is access to capital. It’s very much like oil rigs, the more you can put up, the more output you’re going to get.”
Sean Clark, chief executive officer of Hut 8, commented: “This is about access to capital and scale. We found a perfect vehicle to capitalize incredibly quickly. Bitfury now is going to rebalance the global network.” He added that: “If the capital markets react as we expect them to, there’s the opportunity to vend in other parts of Bitfury. Potentially all of Bitfury – piece by piece.”
Is Canada becoming the new global hub for bitcoin mining? Tell us what you think in the comments section below.
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Divorce is never fun and rarely simple, but when one party – generally the male – owns cryptocurrency, there’s an added layer of complexity. With cryptocurrency still relatively new as an asset class, there have been very few cases to date in which the unhappy couple have squabbled over altcoins. A British law firm professes to be handling three such cases at present, with the largest involving a tug-of-war over crypto valued at $ 840,000.
Kissing Goodbye to the Ball and Blockchain
It was only a matter of time until a high profile, high value crypto divorce grabbed the headlines. In the event, it was Britain that claimed the dubious honor of hosting the world’s largest cryptocurrency untethering to date. “Crypto cash divorce nightmare looming” reads the cheery press release published by UK law firm Royds Withy King, on Valentine’s Day no less. Bolstering the stereotype about opportunistic lawyers, it reads:
Royds Withy King is acting on three separate high value divorce cases where spouses are seeking the disclosure and a potential share of cryptocurrency assets. These are a first wave of cases that the firm is expecting. The three cases all involve husbands that have invested in or have purchased cryptocurrencies, including Bitcoin, Litecoin, Ripple and Ethereum.
The most lucrative of these cases – for all parties – concerns “an original investment of £80,000 [of cryptocurrency] in November 2016, which was valued at £1m in December 2017 and is now worth £600,000 [$ 840,000]”.
One of the firm’s partners speaks of there being “a traceability nightmare” in cases where a spouse hasn’t disclosed their assets. One partner’s nightmare, of course, may be another’s dream. As previously ventured on news.Bitcoin.com, “Parting with half of one’s cryptocurrency collection doesn’t come easy…Progressive males let their wife keep her surname and give up half their crypto come the divorce. Patriarchal oppressors put it all in monero and deny everything.”
While onlookers who aren’t embroiled in a crypto divorce may derive a degree of schadenfreude from such cases, there are serious issues at stake. In many countries, a 50% division of assets is awarded, despite the husband often being the main breadwinner, because the wife’s contribution is recognized in other domains, including caring for their children and supporting his career. Making money from cryptocurrency calls for shrewdness, foresight, and iron hands, but qualifying it in the same bracket as a 40-hour-per-week job may be stretching it. Unless the husband embroiled in the $ 840k case is a full-time crypto trader, he likely made his money simply from buying early and hodling.
Always 50/50 In Relationships?
Even if the man’s spouse isn’t seeking an equal division of cryptocurrency, he may, for various reasons, begrudge parting with a portion of his portfolio. As Vandana Chitroda, a partner at Royds Withy King, points out: “[Volatility] presents a real challenge when valuing cryptocurrencies. Valuations will have to be carried out a number of times during the divorce process as the case progresses.”
If the couple are to reach an amicable resolution, the wife may find her husband more willing to come to an agreement in a bear market than during a bull run. Whether she’d be willing to accept a payoff while the crypto markets are mired in the red is another matter entirely. In the years to come, divorce courts may be prove to be a prime testing ground for determining how cryptocurrencies are classified and valued.
Do you think crypto assets should be equally apportioned in the event of a divorce? Let us know in the comments section below.
Images courtesy of Shutterstock, and Royds Withy King.
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More retail forex brokers around the world can now offer their clients the option to fund their trading accounts with cryptocurrency. A tech provider from the FX industry, B2Broker, has created a simple platform for the online businesses to roll out.
B2Broker Cryptocurrency Payment Gateway
B2Broker, an aggregator and provider of turnkey, cloud, and liquidity solutions for the foreign exchange (FX) industry, has launched a new cryptocurrency payment gateway. The system is fully automated for both deposits and withdrawals and is translated into 10 languages. It also offers an improvement in the transaction speed to less than 20 seconds, compared with traditional payment gateways which can take days.
Beyond just online retail forex brokers, the company says the solution was developed to cater for a wider spectrum of business clients. These include cryptocurrency exchanges, ICO campaigns, hedge funds, online stores and other merchants wishing to accept cryptocurrency payments.
Evgeniya Mykulyak, COO of B2Broker, commented, “We believe our crypto gateway will prove to be one of the most popular B2Broker products. We have responded to our clients who want to accept payments in cryptocurrency due to its popularity and are looking to expand their potential client base. With our cryptocurrency gateway, our main focus is on convenience, speed, security and cost-saving.”
Plug and Play
As the company focuses on turnkey solutions, such as white label services for MT4 and MT5, an easy integration process is an important feature for its clients. The gateway can be integrated via a single API making it possible to get up and running very quickly. New cryptocurrencies can be added in as little as five minutes by simply providing the addresses of the wallets into which payments will be received.
Merchants are offered three different options to collect their deposits. They can receive each cryptocurrency into their own wallets directly, convert everything into bitcoin, or convert everything into fiat and receive it to their banking accounts. The company says that cryptocurrency gateway payments are much safer and less vulnerable to fraud and DDoS attacks than traditional payment systems. B2Broker even takes full responsible for safety of money on transit wallets and promises that in the event of a hacking incident it will refund the merchant.
Do you think forex traders will want to deposit funds with cryptocurrencies instead of credit cards or bank transfers? Tell us what you think in the comments section below.
Images courtesy of Shutterstock and B2Broker.
Seven major crypto companies operating in the UK have announced the formation an independent cryptocurrency trade body. The group, Crypto UK, has stated that its principal aim is to “improve industry standards and engage policymakers.”
Leading Cryptocurrency Companies form Crypto UK Trade Body
Seven leading cryptocurrency companies operating the UK have formed an independent trade body tasked with developing self-regulatory standards for the cryptocurrency industry, in addition to “engag[ing] policymakers.”
The members of Crypto UK are Coinbase, Etoro, Cex.io, Blockex, Commerceblock, Coinshares, and Cryptocompare – comprising trading platforms, exchanges, asset managers, merchants, comparison websites, and intermediaries from the cryptocurrency sector.
“Regulation is Imminent”
The Crypto UK chairman and managing director of Etoro, Iqbal Gandham, described the trade body’s mission as “promot[ing] best practice and to work with government and regulators,” emphasizing his hope that the group can develop “the blueprint for what a future regulatory framework will look like.”
The CEO of Coinbase UK, Zeeshan Feroz, stated that the “fundamental” goal of Crypto UK is to “engag[e] as a single industry with the government,” adding that “Regulation is imminent and that’s a good thing.”
Crypto UK has issued a code of conduct outlining the principles by which its members are expected to adhere. The code of conduct emphasizes the need for members to operate with transparency and in full adherence to UK regulatory requirements, in addition to making practical propositions with regards to the management of customer funds.
Cryptocurrency Sector “Severely Misunderstood” by Regulators
Crypto UK has stated that it seeks to “raise understanding of the sector at a time of significant growth in popularity,” emphasizing the need for pressure to be placed on government “to introduce appropriate regulation to protect consumers and business certainty, [whilst] allowing the sector to flourish in the UK.”
Mr. Gandham described the cryptocurrency industry as being “severely misunderstood” by mainstream institutions. “That’s why Crypto UK has been established,” Mr. Dandham said, “to promote best practice and to work with government and regulators to ensure that the UK benefits from the exciting potential of this international technology.”
What is your response to the formation of Crypto UK? Share your thoughts in the comments section below!
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You’ve probably heard of The DAO and you’ve certainly heard of the ICO. Now say hello to the DAICO, an “innovative fundraising model” that aims to combine the best of both frameworks. The Abyss Platform is the first project to utilize this hybrid organizational structure, which has been credited as the brainchild of Vitalik Buterin. There’s just one problem with The DAO, the ICO and the mutant DAICO it’s spawned – the public couldn’t give a damn about key tenets such as voting rights and community governance. All they want is cheap tokens they can flip for a quick profit.
Live and Let DAICO
The DAO (decentralized autonomous organization) was the first major project to be launched on the Ethereum blockchain, complete with a novel governance structure that replaced a board of directors with a community-run model. It didn’t end well. A vulnerability in the code saw one third of the ether committed to the project stolen and The DAO collapsed. As prominent crypto critic and agent provocateur Preston Byrne explains:
The original DAO could pass resolutions with a simple majority drawn from quorum of 20% (meaning as little as 10% +1 of the investors could bind the remaining 90%). No resolution ever passed because none of the tokenholders actually cared enough about what the DAO was doing in order to participate. Their primary motivation was to sit on their hands and wait for their investment to pay off.
Byrne may be a perennial bitcoin bear, but as a practising English solicitor, he knows more than most when it comes to the sort of legal matters that DAOs and DAICOs were meant to solve. Take a look at many of this year’s ICOs and you’ll find, somewhere in their roadmap, talk of token holders being empowered to vote on key protocol changes including platform developments and new features. It all sounds very progressive and democratic, but the trouble is even the loyalest of community members don’t care enough to want to micromanage decisions using the power invested in them by tokens. The real reason why ICOs are so eager to assign voting rights to their investors is to add legitimacy to their claim that the token is a utility and not a security.
Good Intentions Lost in the Abyss
The Abyss “merges some of the benefits of Decentralized Autonomous Organizations (DAOs), aimed at upgrading and making the initial ICO concept more transparent and secure”. It allows “token holders to control the fund withdrawal limit, also providing an option to vote for refund of the remaining contributed money in case the team fails to implement the project, with Oracles (appointed industry leaders) acting as arbitrators.” The idea is plucked from a concept Vitalik Buterin mooted a few weeks back.
In his scathing critique of the DAICO, Preston Byrne writes: “I feel like I’m taking crazy pills here, because the SEC literally wrote a report about the original DAO scheme, likened it to a security, and cited as authority for this proposition not one but TWO cases relating to an infamous 1970s pyramid scheme that landed its promoter in federal prison for nearly a decade.”
He finishes: “A DAICO is nothing more than a new acronym for the same old bad ideas. The broken DAO concept, in particular, requires extensive rethinking and movement onto private/permissioned blockchains in order to shed its pyramid scheme-like qualities and serve a useful function. On account of which I am completely amazed that anyone would want to combine the DAO and ICO concepts under any circumstances.”
Original thinking deserves a chance to flourish, and blockchain governance – for all its pitfalls – may yet find a way to work. It probably won’t arrive in the form of the DAICO though or any of the other “revolutionary” governance models being used to float the current crop of crowdsales. Good ideas will ultimately prevail, while the ones deemed too wacky and unworkable will return to the abyss that spawned them.
Do you think blockchain democracy and token-based voting is a viable concept, or is it destined to fail? Let us know in the comments section below.
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