Re: @David Roberts
Thanks for the extra detail, guys/gals.
I'm still somewhat bemused that people would put money into such a thing, but as the saying goes "you can't patch stupid".
I am assuming that if you invest in the more traditional way in a firm pre-IPO you get private non-traded shares which give you certain legal rights and are regulated. You hope that when the firm goes public these shares will increase massively in value, or perhaps a second stage investor will buy out your stake at a profit in a future funding round.
I am struggling (as usual) to work out what rights you get from an ICO.
If you buy shares in a company then you are more or less tied to the financial success of the company.
Company does well, you share the profits.
What is to stop the company making billions but abandoning the digital currency?
What ties your investment to the success of the company?
What rights do you get?
If you are just selling a new digital currency why does it have to be tied to a company? What gives added value? Or is it truly just a money making scam selling wooden nickels?
Biting the hand that feeds IT
