[ckastner]

> The allure for people starting a company is that you can raise millions and give 0% of your company away. Some people will scam, it's true maybe a lot will, but some will undoubtedly start something big and will want to do more than just scam.

A system which enables scamming like that is a horribly broken system, and the occasional success story does nothing to change that fact.

Contrast this to an IPO, where you have to more or less lay all your cards on the table before you can sell your stuff to the public.

[ksahin]

You can't "contrast this to an IPO". It's just 1000 times different. ICO are more like a seed round, accessible for everyone, not just VC firms. Seed round are counter-intuitive / highly risked investments, like ICOs.

>A system which enables scamming like that is a horribly broken system I agree, lots of people are going to get scammed, and the market/ the ICO structure is going to evolve, that's natural. People are already digging and you can already see very well documented due dilligence about ICOs.

I don't think it's a broken system, it's just a young system that is evolving quickly.