Friday, September 08, 2017

Tulip Fever: There's a Digital Token for That, And So Much More - Bloomberg

What could possibly go wrong?...

"More than $2 billion has been raised this year through initial coin offerings -- a crowdfunding method that allows startups to make big bucks fast by selling digital tokens -- even with regulators from the U.S. to China trying to slow or halt the practice amid allegations of fraud and unbridled speculation.

One project, Synthorn, is raising money through an ICO to "help measure demand for synthetic rhino horn aphrodisiac pills." Socialite and businesswoman Hilton is backing Lydian tokens, a cryptocurrency issued by advertising company Gravity4 Inc., whose founder, Gurbaksh Chahal, was sentenced to a year in jail after beating his girlfriend. Even Burger King is reportedly trying its hand at creating its own cryptocurrency, which is called exactly what you would expect -- Whoppercoin."
Tulip Fever: There's a Digital Token for That, And So Much More - Bloomberg
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