risenandrew
Posts: 1
Joined: Mon Feb 05, 2018 6:52 pm

Cryptocurrency vs “Intellectual Mastrubation”

Thu Jun 21, 2018 7:44 pm

Can cryptocurrencies and ICO restore capital formation in a free economy?

Looking at many altcoin pump-and-dump schemes and many recent ICOs, the title of our blog can probably elicit no more than a smile. After all, didn’t ICO market become synonymous with half-baked projects, outright frauds, and intergalactic bridges to nowhere never to be built?

Yes, there is quite a bit of fraud going on. However, what people forget is that this fraud pales in comparison to the fraud we witnessed in the current financial system over the past two decades. Just recall the housing bubble of 2003-2008. Garbage real estate loans were securitized and sold as investment vehicles. Investment banks have taken CCC rated loans, combined them into tranches and somehow put out AA securities (magic!). Of course, S&P and Moody’s had to rate those vehicles. But the mathematical models used to create those instruments were so opaque, that it was not hard to fool the public. And rating agencies were only happy to be paid to rate those pyramid schemes. Read more here: https://cryptolo.io/cryptoblog/index.ph ... trubation/

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