We're going to try and prove to the market that you can do a legal coin offering. If the SEC doesn't crack down, this party will be amazing - the biggest party in town for a long time. If they do crack down, a lot of people are going to feel a lot of pain.
Before Blockchain Capital, I was cranking out startups like an incubator.
If you're investing in a company in the Bitcoin economy, you have to compare the valuation of the company to the valuation of the entire economy.
Working on a token is similar to working on a startup: higher risk and lower initial impact but higher upside potential. How core protocol work is best funded beyond the initial Ethereum Foundation endowment is an open question, but likely further out.
Blockchain Capital was the first dedicated venture fund to invest in crypto and blockchain.
In 2008, Bitcoin was mysteriously introduced to the world in an obscure, technical paper written under the pseudonym Satoshi Nakamoto. By late 2013, the financial press was filled with reportage on Bitcoin and its dramatic price increase.
Ethereum is enabling a new form of financing in ICOs that is like a massive gravitational pull - dragging every entrepreneur with a sense for opportunity into its blackhole-level gravity.
Blockchain Capital has a global investment mandate so it is very possible that we make an investment in India at some point.
Tokens align incentives between developers, contributors, users, and investors. They allow everyone who wants to contribute to a project early the opportunity to get in on the ground floor.
When the actual Bitcoin network launched in 2009, no one knew about it, and many of those who did thought it would surely fail. Just to make sure the thing worked, the scripting language in Bitcoin was intentionally extremely restrictive.
I obviously have been very involved in creating a number of tokens going all the way back to Mastercoin.
People say it's a Ponzi scheme, it's a bubble. People really don't want to take it seriously. At some point, that narrative will shift to 'virtual currencies are here to stay.'
Once upon a time, I liked to call myself 'The Grandfather of NXT' because I was one of the first to come up as I was, from NXT.
As with early internet startups, some token models don't make sense. For every 1 huge hit, there will be 3 minor successes and 100 failures, so we shouldn't be surprised when some fail.
