Might be interesting if you want to get into FinTech and don't mind an Eastern European flavour. Token holders get a share in transaction revenues going forward, simplistically. The pre-ICO is capped at 25m Euro, or 2.5 billion tokens; the ICO will be ten times that, so a lotta coins washing around. It started on 28th August, and is about two-thirds sold. Some screaming on the boards about a stuff-up in ETH payments, but BTC seems to work just fine. You need to create an ID on Spectrocoin, but do not need to create a wallet, just exchange BTC for BNK. Watch the how-to video. A few notes Don't use ETH. I found Internet Explorer failed on Captcha, Chrome was just too flakey, so ended up using Edge. You can use bank transfers, but then you have to go through many authorisation hoops, wheras crypto transfer is painless.
BTW - there is a referrals program, but I always get very uneasy about what effectively is a paid reference, so if you are going to take a punt, drop me a PM and I will share any benefit. Also, be aware that the CEO, Vytautas Karalevičius, has had scammer accusations raised in bitcoin fora this week, but it is less than clear whether these are smoke and fire or smoke and mirrors.
Just wait for it to hit exchanges, Look at what happened to Wager this week. Anybody with a laptop and some web page design ability can launch a multi million dollar ICO. 99.8% of them will fail miserably at releasing anything,
Fair enough. We are well past 'unbrindled enthusiasm' and closing on 'manic obsession' on the ICO front in general. It's sobering to speculate about the pin that pricks the bubble: will it be a major fail, or a massive scam?
In ICO's? I think it will just be the realization none of them are delivering. You can almost always buy them cheaper within a week of hitting exchanges. Some of the better ones I would grab at low prices like Bancor, or waves in the past and wait it out, But as with some good coins I have been in now and in the past to produce a bulletproof top of the line product takes years. And years in cryptos is decades in everything else.
Yeah - the vulnerability in the DAO contracts demonstrates how badly things can get unstuck, and launching a financial instrument with incomplete or untested contracts is either ballsy or terminally stupid. I haven't coded for several decades, but would never work on life support, and smart contracts are only a small step lower down the sphincter-clenching scale. But the DAO hack happened, the ETC/ETH fork occurred, and how many ICO punters are aware? I wasn't aware, for example, that there is 'another shoe' in the ETC chain - the hacker and one major holder have the potential ability to dump large amounts and disrupt the value.
Yeah I dont touch ETC I understand it's the original and code is law, but a hacker taking 15% of all ETC is a little to centralized for me.
To be fair, it's rather like a cafe being robbed, and the building owner being blamed. The DAO hack was possible because the contract script was interruptable, and wrote to memory after making a withdrawal transaction (which was only allowed to another contract, which also enforced a 30-day withdrawal waiting period). So the hacker initiated the transaction, initiated the transfer, then interrupted the script and withdrew again and again. The contract was written by The DAO. The decision to fork Etherium prior to the hacker being able to withdraw the money is really not something that can or should happen on every exploit, otherwise the blockchain integrity is rubbish.
