Ethereum Q&A: The ICO Token Explosion Video

The ERC20 Token Standard, Token Summit, the explosion of token ICOs on the Ethereum blockchain, and whether this activity is premature in terms of security (and securities). Every million dollars you put into any token built with ERC20 creates a million-dollar honeypot test on the Ethereum virtual machine, implementations of Geth and Parity, the ERC20 codebase, and whatever poorly-tested code you added for your particular DAPP. The killer app for Ethereum is DAOs (decentralized autonomous organizations), reinventing the modern corporation -- just not that way, as venture capital firms... The security needs to be tested first with $10k, not $10 million; gradually escalating. The trade-off of flexible smart contracts is that every contract has to be independently tested. What happens to a brand-new start-up with a whitepaper but no management experience that suddenly comes across millions of dollars? Soon, not many dollars. ICOs right now are the biggest reputational risk for Ethereum. Opening up crowdfunding to a global audience is an amazing application, when you have governance, but when you do it prematurely you blow up the launch pad. Sometimes lessons have to be learned the hard way. The market will teach them when they lose their money. The purpose of this early stage experimentation should be to test the security of the protocols, not attempt to get-rick-quick. If we don't remind investors of the risks, they will get a visit from the SEC, because one of the first rules is that you don't promote securities to the unaccredited public.

CORRECTION: The "exit scam" allegation regarding Matchpool's CEO (mentioned in the previous version of this video) was circulating in the news at the time this talk was filmed -- but it was later shown to be false, and the ICO funds were accounted for: http://www.coindesk.com/the-matchpool-ico-scandal-is-all-smoke-and-no-fire/

Chapters
0:00 What are your thoughts on the spectrum of all the activity that we're seeing specifically in the Ethereum world with ICOs?
2:15 The problem I have with these ICOs is that we're taking code that has not yet been exercised
4:33 Seventeen and a half million dollars in 30 minutes
5:47 ICOs right now, to me, are the biggest reputational risk for Ethereum.
6:35 What do you think about professionals who are in the industry who are either venture capitalists or investors who are actively encouraging people to do this where it seems like you think it's a bad idea?

This talk took place at the Silicon Valley Bitcoin meetup on April 11th 2017 at the Plug and Play Tech Center (@PlugandPlayTC) in Sunnyvale, California: https://www.meetup.com/Silicon-Valley-Bitcoin-Users/events/233760417/

RELATED:
Initial coin offerings (ICOs) - https://youtu.be/Q5R8KuxV4A0
ICOs and responsible investment - https://youtu.be/C8UdbvrWyvg
ICOs and financial regulation - https://youtu.be/Plu_WX3Gs8E
ICOs, disruption, and self-regulation - https://youtu.be/yfjgcI8xX3A
ICOs and pyramid schemes - https://youtu.be/8HYWWP1QU7Q
Scams, gambling, and regulation - https://youtu.be/fTI88YrN1UE
Regulation and the bank boycott - https://youtu.be/8ypH69Cb1l0
Unstoppable code - https://youtu.be/AQx3E3F8Kz4
The Lion and the Shark: Divergent Evolution in Cryptocurrency - https://youtu.be/d0x6CtD8iq4
Ethereum: Consensus vs. Immutability - https://youtu.be/OGGW9ozE-ys
How to get people to care about security - https://youtu.be/Ji1lS9NMz1E
Governance trade-offs in decentralised systems - https://youtu.be/dtwaW79Fj7c
Impact of smart contracts on law and accounting - https://youtu.be/K-TRzuPwJCc
Smart contract platforms - https://youtu.be/XU8Bc5oxneE
The Scaling Rites of Passage - https://youtu.be/rZi86_ovB3Y
Altcoins and the scaling debate - https://youtu.be/slbpdW-H3yk
Blockchain vs. Bullshit: Thoughts on the Future of Money -https://youtu.be/SMEOKDVXlUo

Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin.

Follow on Twitter: @aantonop https://twitter.com/aantonop
Website: https://antonopoulos.com/

He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters.

THE INTERNET OF MONEY, v1: https://www.amazon.co.uk/Internet-Money-collection-Andreas-Antonopoulos/dp/1537000454/ref=asap_bc?ie=UTF8

MASTERING BITCOIN: https://www.amazon.co.uk/Mastering-Bitcoin-Unlocking-Digital-Cryptocurrencies/dp/1449374042

[NEW] MASTERING BITCOIN, 2nd Edition: https://www.amazon.com/Mastering-Bitcoin-Programming-Open-Blockchain/dp/1491954388

Subscribe to the channel to learn more about Bitcoin & open blockchains!

Outro Music: "Unbounded" by Orfan (https://www.facebook.com/Orfan/)
Outro Graphics: Phneep (http://www.phneep.com/)
Outro Art: Rock Barcellos (http://www.rockincomics.com.br/)
Join the aantonop Channel: https://aantonop.io/joinaantonopyt

About the Site 🌐

This site provides links to random videos hosted at YouTube, with the emphasis on random. 🎥

Origins of the Idea 🌱

The original idea for this site stemmed from the need to benchmark the popularity of a video against the general population of YouTube videos. 🧠

Challenges Faced 🤔

Obtaining a large sample of videos was crucial for accurate ranking, but YouTube lacks a direct method to gather random video IDs.

Even searching for random strings on YouTube doesn't yield truly random results, complicating the process further. 🔍

Creating Truly Random Links 🛠️

The YouTube API offers additional functions enabling the discovery of more random videos. Through inventive techniques and a touch of space-time manipulation, we've achieved a process yielding nearly 100% random links to YouTube videos.

About YouTube 📺

YouTube, an American video-sharing website based in San Bruno, California, offers a diverse range of user-generated and corporate media content. 🌟

Content and Users 🎵

Users can upload, view, rate, share, and comment on videos, with content spanning video clips, music videos, live streams, and more.

While most content is uploaded by individuals, media corporations like CBS and the BBC also contribute. Unregistered users can watch videos, while registered users enjoy additional privileges such as uploading unlimited videos and adding comments.

Monetization and Impact 🤑

YouTube and creators earn revenue through Google AdSense, with most videos free to view. Premium channels and subscription services like YouTube Music and YouTube Premium offer ad-free streaming.

As of February 2017, over 400 hours of content were uploaded to YouTube every minute, with the site ranking as the second-most popular globally. By May 2019, this figure exceeded 500 hours per minute. 📈

List of ours generators⚡

Random YouTube Videos Generator

Random Film and Animation Video Generator

Random Autos and Vehicles Video Generator

Random Music Video Generator

Random Pets and Animals Video Generator

Random Sports Video Generator

Random Travel and Events Video Generator

Random Gaming Video Generator

Random People and Blogs Video Generator

Random Comedy Video Generator

Random Entertainment Video Generator

Random News and Politics Video Generator

Random Howto and Style Video Generator

Random Education Video Generator

Random Science and Technology Video Generator

Random Nonprofits and Activism Video Generator