[mrwong]

Wallstreet has a monopoly on IPOs, they are clearly threatened by the ICO boom. Its just the internet all over again. Candlemakers wanted to ban light bulbs. Newspaper wanted to regulate online media. They all failed. So will wallstreet. Its just a matter of time, the forcing function is way to strong.

[JumpCrisscross]

> Wallstreet has a monopoly on IPOs, they are clearly threatened by the ICO boom

For a longest time, Wall Street had three tricks: securitization (breaking cash flows into securities), portfolios (putting securities in a box) and leverage (borrowing and lending). (One could argue swaps are a fourth.) That's it! IPOs? Securitise a company. CDO? Portfolio mortgage securities. Mortgages? Securitise them!

Now there are blockchains. A whole new thing! If there's a group thrilled shitless about blockchains and ICOs, it's Wall Street. Best part: when the whole thing goes south, they get to blame Silicon Valley.

[xadhominemx]

Even if blockchains/cryptocurrencies replace fiat currencies and ICOs replace IPOs on a stock exchange, little about Wall Street does will actually change. Securitizing and aggregating securities into portfolios, lending, marketing and pricing securities, advising issuing entities, etc., the things investment bankers occupy themselves with every day, do not go away because of cryptocurrencies and ICOs.

[JumpCrisscross]

> the things investment bankers occupy themselves with every day, do not go away because of cryptocurrencies and ICOs

Pardon me, I was being facetious. We agree. I was responding to a comment claiming investment banks "are clearly threatened by the ICO boom" [1]. Wall Street is more likely to coöpt, as opposed to be replaced by, blockchains.

[1] https://news.ycombinator.com/item?id=15790978

[xadhominemx]

Your parody is very good!

[xadhominemx]

What is "wallstreet"?

[grzm]

> "Wall Street is an eight-block-long street running roughly northwest to southeast from Broadway to South Street, at the East River, in the Financial District of Lower Manhattan in New York City. Over time, the term has become a metonym for the financial markets of the United States as a whole, the American financial services industry (even if financial firms are not physically located there), or New York-based financial interests."

https://en.wikipedia.org/wiki/Wall_Street

[xadhominemx]

I know what Wall Street is