Hint: the obvious answer may not be the right one.
There are three main parties involved in any Initial Exchange Offering (IEO) — the Project, the Community and the Exchange.
The Project consists of the developers, executives, advisers and promoters who are building the coin and its infrastructure.
The Community is made up of the users, bounty hunters, air-drop recipients, purchasers and holders (“hodlers”) of the coin.
The Exchange is obviously the cryptocurrency exchange that is hosting the IEO.
(I’m not going to spend any time examining the motivations or benefits for the Exchange. …
This morning, my main marketing advisor told me “ICOs are dead, for now”.
Those were his exact words. Coming from a guy whose job it is to make things happen with marketing, this was a bit of a shock.
There was a lot more to the conversation. But, essentially, he was trying to talk me out of launching our Token Sale at this time.
So, we took a hard look at whether or not we should delay our sale until after the crypto “climate” improves. The short answer is “no”. Some of the reasons are detailed below.
We all love “free”. Free choice. Free time. Free beer. Free love. What’s not to like?
So, how could anything be better than free?
In economics, there is more to “free” than first meets the eye.
There is an old saying about free stuff:
“When someone gets something for nothing, someone else gets nothing for something.”
Some people might point to charity or open source software as exceptions to this rule. But, in these cases, the giver is either “getting” some personal satisfaction from the gift or is expecting nothing for their gift because they believe in the…
Buying your first cryptocurrency tokens can be daunting. And scary. And complicated. And time-consuming.
No wonder that the vast majority of people who have heard of cryptocurrency don’t own any.
If you are an experienced cryptocurrency owner, think back to the time you bought your first bitcoins. Here are the “flaming hoops” you probably had to jump through:
Choose an exchange. Register on that exchange. Provide KYC/AML information. Link your bank account to the exchange. Send a wire transfer. Wait for the money to arrive. Figure out how to place a “buy” order. Decide whether you trust the exchange to…
Peer-to-peer marketplaces are susceptible to illegal activities because they are community owned and operated. Buyers and sellers deal directly with each other, without an intermediary. With no central site or responsible authority monitoring the content of listings, such sites can become havens for criminal activities.
If no one is monitoring or censoring the contents of marketplace listings anyone can list anything with impunity. If there is no “sheriff” in town, a peer-to-peer marketplace can devolve to a “wild west” of anarchy.
For some “crypto-anarchists” and criminals, this might be the ideal scene. But, as cryptocurrencies enter the mainstream, the majority…
The Internet has been responsible for a lot of disruption during the last 30 years.
Not the least of these disruptions has been the trend toward “disintermediation” — the removal of middlemen from many commercial processes. Amazon, Uber and AirBnB are three great examples. Amazon put buyers in touch with sellers and disrupted the retail industry. Uber put drivers in touch with riders and disrupted the taxi industry. AirBnB put guests in touch with hosts and disrupted the hotel industry.
These companies, and many others, provide an important step in the right direction. But, most Internet companies are really just…
OmniBazaar is a community-owned, rewards-driven, cryptocurrency-enabled, peer-to-peer, e-commerce marketplace. Shop without middlemen. Pay without bankers.