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RE: Did Brendan Blumer (EOS) just say Bitcoin is an ICO at NYC FinTech?! Not quite, but sounds about right!

in #eos7 years ago

Thanks Dan.

I hope I get this right: In chat he explained further that due to on chain funding and various estimates of how much would be available, development will easily be funded and possibly far far exceed what was collected in the ICO making it very viable to fire malicious funded holder or move against them without concerns for lack of funding like we might see on chains without native on-chain funding mechanisms (e.g. most ico'ed projects like eth) 1 bil evaluation would make up to 50 mil available each year for development, 10 bil - up to 500 mil and so on (<=5%/yr).

This is extremely valuable point to me and reiterates importance of decentralized organizations and funding (DAO or DAC first created on bitshares graphene afaik ~ 2014)

10/10