Quote: (08-28-2017 09:14 AM)NewMeta Wrote:
Quote: (08-28-2017 08:28 AM)[email protected] Wrote:
Enigma ICO. Seems like a copy and paste of iconomi with some variation thrown in. Probably will do well, this is a pump and dump for me. Long term it's a bag.
Do you not think the hack potentially will hurt the value of the company to the point that you could come out at a loss? I am in 2 minds about it right now but signed up just incase.
Lot's of successful companies are copies and pastes of other successful companies with a few minor tweaks. Nothing inherently wrong with it as it drives prices down and creates innovation due to competition. Without these "copies and pastes" you would just have monopoly companies. Target is a copy and paste of Wal-Mart with better branding.
However, from my brief understanding of Enigma it is going to be able to do what Iconomi does as well as provide an entire platform (think Bloomberg, Bloomberg terminal) that allows for news feeds as well as trading and DAA creation.
If you look at the team and advisors they are definitely not in the pump and dump scene. They could make millions or billions through perfectly legitimate channels.
From the website of one of their top advisors:
Professor Alex "Sandy" Pentland directs the MIT Connection Science and Human Dynamics labs and previously helped create and direct the MIT Media Lab and the Media Lab Asia in India. He is one of the most-cited scientists in the world, and Forbes recently declared him one of the "7 most powerful data scientists in the world" along with Google founders and the Chief Technical Officer of the United States. He has received numerous awards and prizes such as the McKinsey Award from Harvard Business Review, the 40th Anniversary of the Internet from DARPA, and the Brandeis Award for work in privacy.
That is just one of them and they are all pretty much all stars at the top of any game that they choose to be playing.
To say this is a pump and dump type of coin is completely absurd. Could it fail, sure it could. But I can assure you these guys are not a "legends room" type of crowd. These are some of the best minds humanity has to offer.
Regarding Iconomi, yes I like it a lot. I think it's an incredible idea but to be honest the team behind it is not anything like the level that the Enigma guys are on.
If you read their whitepaper, they say that Iconomi was/is a good idea but cite several limitations to this as well as to 0x. I can't name them off the top of my head but it's somewhere in the first 4 pages.
Regarding the hack, from what I understand it was human error. Not a general sign of utter incompetence. I know two surgeons and they both have said, it's not a matter of if you will be sued it's a matter of when. Even the best can fuck up at times. You can do everything perfect, or nearly perfect and still lose from time to time. They are even going to refund the investors that lost money. Mistakes happen and mistakes can be made right. Bitfinex got hacked and did their best to make it right. It's an excellent platform and I trust it until something else happens. This is a new space, hacks will happen. That's a guarantee. Hackers are the new railroad bandits on their horses hijacking trains with millions of dollars of products on board.
Here is a statement regarding the ICO refund:
https://techcrunch.com/2017/08/24/enigma-refund/
For the record, I am not an Enigma shill and I have no position in this yet. Just like I want to temper the "mooners", I also want to temper the "dumpers."
The Maximally Pathetic Schema: Xs who labor to convince Ys that “I’m not one of those despicable Zs!,” when in fact it is obvious to the meanest intelligence that the Ys see no difference between Xs and Zs, don’t care anyway, and would love to throw both Xs and Zs into a gulag.
- Adrian Vermeule