Shower Thought - What if a 3rd world country had an ICO?

in #crypto4 years ago

Seriously. Think about it. The first nation to do an ICO will be able to EASILY raise $1B+ for whatever coins they sell. This is a huge amount of money for some nations. Then, they would also be able to keep some amount in reserve (more money). All it takes is one small government to do this for this thing to really go crazy....

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Where is all this money, to raise capital, coming from??

Crypto investors, who want to get in on a crypto that has built in mass adoption.

But what are they selling to raise the funds... or is it all savings ?

Interesting and well written, Thanks for sharing @jasonyoakam

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well said
Seriously. Think about it. The first nation to do an ICO will be able to EASILY raise $1B+ for whatever coins they sell. This is a huge amount of money for some nations. Then, they would also be able to keep some amount in reserve (more money). All it takes is one small government to do this for this thing to really go crazy....

No one would buy it.

No government would give up control of their currency and produce a decentralized ICO. Instead they will want to maintain control.

Like Venezuela

Problem is why would you invest in a centralised cryptocurrency when any itme they wanted to they could turn around, create several billion more dollars and devalue the currency that you own. Would be a very high risk. no different than Fiat.

Great post thanks for sharing

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