Hacker News Reader

Comment by matte_black | Hacker News Reader

Is there legit money to be made in ICOs without running a fraud?

Forget money, I would like to know of one legit ICO. One single ICO that has a product. One.

There was that one on Silicon Valley where the coins represented credits on a distributed computing network. It sounded pretty legitimate to me, but of course it's just fiction.

Over in the real world, I haven't heard of any legitimate ICOs.

The Brave web browser

I think the RNDR token is the only one I've seen that really makes sense. https://rendertoken.com/. And the people behind it (Otoy) are very reputable.

There's no product though, just a roadmap. The first item of which is "raise ICO money"

Brave browser, Sia storage network, ... and uhh... Cryptokitties?

The vast vast majority are vaporware.

Golem has a working product, integrated into blender. It lets users trade rendering time with each other

It works well for 3D graphics because it's easy to verify the work was done and it's low risk. With more encryption research the model would work for more types of computing

Think of all the 3D graphics you could render with all those high-end GPUs and electricity being wasted on the blockchain.

Do you have a less delightfully ironic and self defeating example to support your argument?

Augur is launching its finished distributed prediction markets product today. We'll see if anyone uses it, but that's an ICO with a product.

Currently up to 98 contracts with $27.1k wagered: https://predictions.global/ It'll be interesting to see how much it keeps growing.

514 contracts, $1.2m (!)

Ethereum? It was basically the first ICO.

Reply on news.ycombinator.com