Vitalik Buterin advises to ignore ICOs with volume bonuses

Co-founder of Ethereum, Vitalik Buterin is considered that ICOs offering volume-based bonuses contradict the idea of cryptocurrency and should be ignored
21 November 2017   895

Vitalik Buterin talked against ICOs that offer volume bonuses in his Twitter and asked users to ignore them.

Co-founder speaks that the main idea of cryptocurrency is to build the economy based on equality and fair without such so-called few that holds all the wealth.

Initial Coin Offerings raise more than $3 billion on their projects this year.

ICOs and token sales usually offer some time and volume-based bonuses. Buyers often get extra coins in the early stages of sales.

One Twitter user reproached Vitalik Buterin’s tweet because Etherium ICO also offered bonuses.

Vitalik answered that those time-based bonuses were acceptable but nevertheless he disagree with all the decision Ethereum ICO made in 2014.

The main idea of ICOs was to help skillful teams with their great ideas to get through easily, but it didn’t become a trend, especially by teams which couldn’t raise their funds using traditional methods.

Also the discussion began about the transparency of operations, fund usage and achievements teams working on projects got. In contradistinction to original companies and startups, ICOs are not the ones which can be regulated and few token holders can say about how such project progress.

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Bittrex to List LOOM

LOOM is the token of the American startup Loom Network, which launches decentralized applications
18 July 2018   196

Popular cryptocurrency exchange Bittrex listed Loom Network token LOOM. 

As the team of the exchange said, trading with the crypto currency will begin in the near future. On the background of this news, LOOM showed a price jump fo 14%.

LOOM Price Chart
LOOM Price Chart

LOOM is the token of the American startup Loom Network, which is launching decentralized applications.

In January, Bittrex tightened the criteria for listing new tokens. Now, developers need to provide technical information about the token itself, as well as the data of at least one team member. At the moment, the exchange has 290 digital coins.