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Ardent crypto enthusiasts believe ICOs and cryptocurrencies will replace venture capital, but what if VC investors absorb crypto into their existing operations?
Bitmex, best known for a crypto trading service, claims to have crunched the numbers on over 200 of the biggest ICOs and found that, on average, most projects have already converted what they had raised in crypto into fiat currency.
The goal, then, is for Auroracoin to become a catalyst for bitcoin trading, a sort of Trojan horse that will inject crypto into an economy shackled by post-crash fear.
Despite the industry-wide figures, there are examples of companies who quickly cashed their crypto into fiat in order to plump for a sure thing, and others who held off converting the pile or cashed out small bits when needed.
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Luno, a bitcoin wallet and exchange based out of Singapore, is riding the crypto wave into Europe after it closed a $9 million Series B round for market expansion.
It remains to be seen whether this officially Kodak-branded offering will be able to turn a crypto idea into a genuinely useful product either.
That's why in the aforementioned case, Terra opted to bring four crypto exchanges into its private sale — no doubt their influence will be key in building what remains a hugely ambitious project.
Philippa Ryan, cryptocurrency expert and member of the Standards Australia Blockchain Technical Committee, told ABC that she thinks the unique opportunity will appeal to "the more sophisticated investors who probably have done their research into crypto and are ready to put it into something of bricks and mortar.
I got into crypto after I met someone at work who was converting his earnings into Bitcoin so he could buy a car.
Convert the estimated $436bn that will be remitted this year into crypto payments and most of the exchange rate charges and other transfer fees disappear.
Security requires good password choice, good password management, good laws about compelled crypto disclosure, transparency into corporate security practices, and, of course, an end to the governmental practice of spending $250M/year on anti-security sabotage through the NSA/GCHQ programmes Bullrun and Edgehill.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com