Comment by lrvick | Hacker News Reader

Comment by lrvick | Hacker News Reader

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Tezos has a working testnet available to anyone on request and a functional (albeit early) platform. They also took extra time and delayed their ICO to get proper accountability systems in place via good legal standing for the Tezos Foundation.

Tezos asks a vital question. Can cryptocurrency governance be decentralized? Can we do better than the anarchy of management for Bitcoin and Ethereum with chain splits being the solution to dispute?

I for one gambled some of my portfolio I am willing to lose to find out and spent a lot of time researching their code, and team before doing so. I am as interested in seeing Tezos fail (and thus further indicate anarchy and splits are unavoidable) and seeing my ETH/BTC holdings continue to rise as I am in seeing Tezos succeed and overshadow everything by proving it can rapidly evolve and incorporate the best features of other coins without forking.

You think 200 million in funding for a blockchain implementation in Ocaml written by one developer is reasonable?

Because to me it seems absolutely ridiculous. For comparison, Docker has so far raised around 180 million in 5 funding rounds. It has somewhere between 300-400 employees.

Yeah that's the most perplexing thing with those ICOs IMO. We could argue all day whether this and that idea has some merit or not, but many of those start ups end up raising orders of magnitude more money than they should ever need to build their thing. Many of these projects could be completed by a modest team in a few months. That's just absurd and a complete waste of resources.

Not anymore than we say a billion pieces of green paper is worth trading for a company that lets you take selfies and put cute frames on them.

Money as it exists today and how we attribute value is pretty ridiculous. Blockchain tech today is the 90s internet, poised to crash hard then later be integrated into the lives of everyone.

> Can cryptocurrency governance be decentralized? Can we do better than the anarchy of management for Bitcoin and Ethereum with chain splits being the solution to dispute?

What does this mean, really? What is decentralized governance and how is Bitcoin's governance not decentralized? Isn't anarchy decentralization by definition?

Yes, they really took time to fake so. I encourage engineers to try and build a decentralised app on it.

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