Monday, June 05, 2017

Digital Coins Are Making Bitcoin's Rip-Roaring Rally Appear Tame - Bloomberg

Behold the ICO (initial coin offering) wave -- digital tulips?...
"While the record-breaking rally in bitcoin has captivated markets, demand for other digital coins is surging as companies raise millions in minutes, or even seconds, from investors wanting in on the next big tech startup. Last week it took 30 seconds for Mozilla co-founder Brendan Eich to issue about $35 million of basic attention token, the unit of exchange in a blockchain-based advertising platform built on top of the company’s Brave browser. 
Digital tokens tied to the blockchain platform issued this year have more than doubled in price on average since trading started, according to data compiled by Bloomberg. Tech startups are increasingly selling coins that can be used on their projects instead of resorting to traditional financing methods such as venture capital."
Digital Coins Are Making Bitcoin's Rip-Roaring Rally Appear Tame - Bloomberg
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