For those on the fence about the TEZOS ICO
For those like me who are doing research to decide on whether or not to participate in the upcoming TEZOS ICO, this is one of the best sources I've found:
https://www.reddit.com/r/ethtrader/comments/6am251/what_are_everyones_thoughts_on_tezos_coinss_ico/
There lot's of concerns being raised about the foundation and the structure of the ICO. For example: "This is the first ICO to my knowledge in which the founders get 8.5% of the fiat proceeds in cash in addition to 10% of the tokens. This means if things go well, they will be extremely wealthy even if their projects fails in 1 year."
And: "Tim Draper's involvement has been heavily marketed but his investment comes with greatly preferential terms that are not available to ordinary blockchain Joes and Jills. To be clear, any ICO investor is not investing on the same terms as Tim Draper. Draper is investing not only in the ICO, but also in DLS, the Breitman controlled entity. DLS receives 8.5% of the cash raised and 10% of the tokens -- DLS and Draper are heavily incented to make sure the raise is as big as possible, while a normal ICO investor is worse off in that situation as they get diluted. This goes against the spirit of blockchain and decentralized cryptographic ledgers and ICOs."
I'm starting to reconsider investing. Is this keeping anyone else from participating in the ICO?
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