The Summer of ICOs

The Summer of #ICOs 

 #fintech @bussgang #VC #ETHEREUM #blockchain

  • Instead I will make a few observations about how an investor might think about the impact of ICOs / token launches on the venture capital industry, in particular, and some of the downstream ramifications that need to wrestled with.
  • The ICO generates excitement and valuable incentives to contribute to the ecosystem which accelerates its growth and, as the ecosystem grows, the company has a cash flow formula that allows value to accrue to the equity holders of the corporation not just the tokens.
  • If a portfolio company can raise money in an ICO and retain tokens that then rise in value, it dramatically reduces the company’s incentive to seek an exit.
  • If the management team and employees receive tokens as part of their compensation plan and those tokens are highly liquid — as they should be after an ICO thanks to the meteoric rise of exchanges and crypto hedge funds — then the value of their compensation may be more through token value than equity value.
  • Are investors and management as aligned as they are in a company that does not raise money in an ICO or do token sales create more opportunities for misalignment—which gets back to the issue of governance.

Goldman Sachs and CB Insights recently reported that startups have raised over $1 billion in Initial Coin Offerings (ICOs) this summer — more than the to…
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Secure mail: Tutanota makes encrypted mails easy. #FOSS

  • We are a team of developers who understand privacy as a basic human right protected by our constitution.
  • To fight for our right to privacy is our mission since we have started building the encrypted mail service Tutanota, and it is a value shared throughout our community.
  • In Germany we were taught the value of privacy the hard way – think about Gestapo and Stasi.
  • Every one of us has the right to express any idea freely, or to keep it secret.
  • As a citizen of a free democracy it is my obligation to protect my private information.

Mail. Done. Right: Tutanota is the secure mail service with automatic encryption. We protect your mails from everyone – even us. Open source and forever free.
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ViaBTC to Open Bitcoin Exchange After Raising $200,000 in Funding Led by Bitmain ⋆ Epeak . Independent news and blogs

  • The CNY exchange will be based in China and provide no margins or futures, but the USD exchange will be based offshore and will provide margins and futures as permitted by relevant regulations, according to Sara Ouyang, Chief Operating Officer at ViaBTC.
  • Financing from Bitmain or any other company in the future will help us grow even bigger.
  • The bitcoin exchanges market appears competitive, but the industry is sorely lacking margins or futures in a regulated exchange.
  • Then there is OKCoin’s offshore exchange which continues to provide 3x margins as well as 20x futures, but, again, they are unregulated.
  • Until then, new exchanges that provide margins or futures at a significant level can only improve the overall trading situation.


One of the biggest bitcoin mining pools, ViaBTC, is to open a CNY/BTC exchange in around two months with a USD/BTC exchange to follow. The CNY exchan
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Equibit blockchain ICO sells $250K on first day

Equibit #blockchain ICO sells $250K on first day #fintech #ICO #decentralized #securities

  • Trump makes first visit to MacDill AFB CNBC – 1 hour 25 minutes ago
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  • The way Arnold Schwarzenegger made his first million had nothing to do with acting CNBC – 1 hour 27 minutes ago
  • Wealthfront CEO: Our Robo-Advisers Are Revolutionary Bloomberg UK – 1 hour 22 minutes ago

Equibit Development Corporation, creator of the Equibit blockchain and blockchain applications for the global securities industry, opened its initial coin offering on February 1st, selling $250,000 worth in equibits on the sale’s first day. The sale will run for 59 days to March 31 and is being
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Uber CEO Travis Kalanick Stepping Down From Trump Economic Advisory Council

Uber CEO resigns from Trump's economic advisory council

  • Uber CEO Travis Kalanick Stepping Down From Trump Economic Advisory Council
  • Uber CEO Travis Kalanick is resigning from President Donald Trump’s economic advisory council, according to the company.
  • The taxi drivers were striking in solidarity with the thousands of protesters gathered there to demonstrate against Trump’s immigration ban.
  • “Immigration and openness to refugees is an important part of our country’s success and quite honestly to Uber’s,” he said. “
  • Inside Out – The implicit assumption that Uber (or I) was somehow endorsing the Administration’s agenda has created a perception-reality gap between who people think we are, and who we actually are.

In a memo to employees, Kalanick said he didn’t want his presence to be seen as endorsing the president or his agenda.
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Blockchain Transformations at Davos

  • Now imagine books becoming nodes on that same network by giving each book a digital signature.
  • Think of the book as a credit card.
  • But the author has no way to restrict this to only readers than bought a legitimate copy of the book.
  • And as I learned today, books will never be the same.
  • Some authors create their own website for a book so they have freedom to do what they want.

Davos, Switzerland – This year at Davos there are a dozen sessions on and off the formal agenda talking about blockchain – the underlying technology of cryptocurrencies like bitcoin.
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Blockchain Transformations at Davos

  • Now imagine books becoming nodes on that same network by giving each book a digital signature.
  • Think of the book as a credit card.
  • But the author has no way to restrict this to only readers than bought a legitimate copy of the book.
  • And as I learned today, books will never be the same.
  • Some authors create their own website for a book so they have freedom to do what they want.

Davos, Switzerland – This year at Davos there are a dozen sessions on and off the formal agenda talking about blockchain – the underlying technology of cryptocurrencies like bitcoin.
Continue reading “Blockchain Transformations at Davos”