Don’t suggest a new ICO unless you’re a Ph.D. cybersecurity expert or have talked to one.
Bitcoin and cryptocurrencies are hot as shit right now. I’m glad to see it. If you know anything about this, you’ll know that Bitcoin isn’t perfect. It’s more abstractly useful than easily applied. It needs work, especially with transaction times.
You might have some ideas to make it better and you’re wrong. Bitcoin has procedures in place to fix those problems and some of them seem to be materializing. Bitcoin also has a branding problem with the drug trade which is apparently resolving itself a bit. There are already other options that can also evolve to changing use cases and market desires. Ethereum is extremely promising. One of these technologies will cover the use-case you’re thinking of.
I’m bullish on the ideas behind cryptocurrency. I own Bitcoin as a growing 7% of my portfolio and mine Ethereum with my graphics card. It’s neat. It’s promising. It’s going places, and it remains to be seen if those places are the future of wire transfers or the future of commerce itself. It’s probably at least the first one because of its fundamental advantages over prior systems.
Here’s the thing: I barely know what I’m talking about when I talk about the exact mechanisms that make bitcoin secure and I’ve been studying computers my whole life and mining it for months. It takes notes to even explain all at once. In particular, today I realized that I misunderstood Bloom filters for running lightweight wallets. It takes an expert to do this stuff, and we are not those experts. I’m very willing to have some humility about this, which means you fucking Whartonite fratscum better realize that you can’t fully comprehend this new industry. You are the epitome of cocky and privileged white trash.
The cryptocurrency industry has experts. CEO’s with huge stakes, tenured professors, consultants that work with fortune 500 companies that have to throw a wet rag on much more coherent proposals than yours.
That consultants part is really big. Believe it or not, there are people you can pay to see if your idea is bad before you bother paying someone to hammer it out over a hot keyboard. They won’t “steal it” either.
And it’s immoral to hire naive unpaid interns on unrealistic promises for projects that will go nowhere.
I know after that bong hit, it really seems like we should have a McDonaldscoin where you spend 6 McDonaldscoin and the deliveryperson gets one, the miner one, and McDonalds four so it shows up at your door.
You don’t know what you’re fucking talking about. Please do the research to realize that before asking me to make you a new bitcoin and promising me that I can be the CTO and have 10% equity.
