
Peak ICO: Paris Hilton endorses a token sale - cocktailpeanuts
https://twitter.com/ParisHilton/status/904456098035286016
======
ummjackson
To make it even worse, this ICO is being run by that RadiumOne asshole who got
jail time for extreme domestic violence:
[https://www.theguardian.com/technology/2016/aug/12/gurbaksh-...](https://www.theguardian.com/technology/2016/aug/12/gurbaksh-
chahal-silicon-valley-domestic-assault-sentence)

Crypto gold rush is attracting all sorts of unsavory characters.

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quuquuquu
"This is not an ad".

Hmm, maybe it's not. If you are reading, Paris, I'd love to have your input on
the following few questions of mine:

1) What are the benefits of participating in an ICO, when compared to an IPO,
a Kickstarter, or just generally taking on equity in a traditionally
established company?

2) How much do you feel would be an acceptable investment in an ICO?

3) What product or service will be delivered by this company, and how long
after the ICO would that service come into legitimate availability?

4) What recourse do I have, if any, should I desire to withdraw my funds?

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cylinder
>Official Twitter Account for LydianCoin Pte Ltd., First A.I. Big Data
Marketing Cloud for BlockChain

This has to be satire...

~~~
spiorf
Are you questioning AI BIG DATA CLOUD BLOCKCHAIN???

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cocktailpeanuts
Guys don't miss the "Launch Promo" video, you'll regret it for the rest of
your life if you do:
[https://www.youtube.com/watch?v=l644fAxGzlw](https://www.youtube.com/watch?v=l644fAxGzlw)

~~~
ahartman00
sorry for the low substance comment but...

OMG! I almost never watch videos(low content to time ratio), but this is
hilarious. I don't know what the word for phrases that are buzzwords(cliche?),
but this has most if not all of them.

~~~
cocktailpeanuts
Just wait till you find another video for gravity4, the parent company running
this scheme:
[https://www.youtube.com/watch?v=PtW0WIDM2cY](https://www.youtube.com/watch?v=PtW0WIDM2cY)

It's so hilariously bad that it's a masterpiece, almost like "The Room".

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jondubois
Even if cryptocurrency does turn out of be a bubble, it will still change
everything.

A cryptocurrency bubble would look very different from a typical economic
bubble because cryptocurrencies are more than just financial instruments;
they're a form of protest against the established financial order. If it were
to collapse, the disillusionment and blame that would come out of it may be
enough to start a revolution.

As more people start buying cryptos and start doing more research, they become
increasingly sceptical about the existing financial system.

~~~
charlesdm
> If it were to collapse, the disillusionment and blame that would come out of
> it may be enough to start a revolution.

You mean, if it's not different this time? The average person doesn't
understand the monetary system, and having cryptocoins won't change that.

Most people buying these things just buy because the price is going up _fast_.
But these ICOs don't have any inherent value -- they're tokens being created
out of thin air by random people with mostly stupid ideas.

> As more people start buying cryptos and start doing more research, they
> become increasingly sceptical about the existing financial system.

The financial system has its flaws -- for sure. Blockchain tech is very
interesting, but I don't believe crypto is a valid solution.

That said, you can still make money in a bubble, so enjoy the party while it
lasts?

~~~
jondubois
A lot of them have inherent value. When you use Stripe to pay for something,
you pay a transaction fee. When you use Bitcoin or any other cryptocurrency,
you also pay a transaction fee (which is often much lower than what you would
pay with a standard gateway; particularly with large transactions). That's
profit; the profit gives intrinsic value to the network.

The bitcoin network is quite slow and power hungry, so as a result the BTC
transaction fee is now over $4 which is high; the BTC network is saturated due
to high demand; so that's why we need altcoins to add capacity. There aren't
enough altcoin networks to handle the demand for crypto-transactions. A
blockchain does not scale unfortunately (each one has a hard physical
throughput limit), so the best way to scale a block chain is to add more side
chains (which is what alt-coins are; you can think of them as specialized
shards of Bitcoin). It's like the Domain Name System - There is a hierarchy of
machines and networks which together can handle a massive volume of domain
name lookups.

Any network which proves itself to be a trustworthy and reliable way to
transfer money has intrinsic value which is determined by the present or
future value of the network of services around it.

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justboxing
Most certainly an Ad. Just like Floyd Mayweather was on IG promoting Stox.com
ICO

@floydmayweather

> Champion Predictions: I'm gonna make a $hit t$n of money on August 26th. I'm
> gonna make a $hit t$n of money on August 2nd on the Stox.com ICO.

Source:
[https://www.instagram.com/p/BXD4KDqgX3x/](https://www.instagram.com/p/BXD4KDqgX3x/)

Related Story: [https://www.coindesk.com/boxing-champ-floyd-mayweather-
just-...](https://www.coindesk.com/boxing-champ-floyd-mayweather-just-
promoted-ico-instagram/)

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shpx
I heard an ad on the radio for Dash coin while I was driving through rural
Idaho (drove down for the eclipse).

[https://coinmarketcap.com/currencies/dash/](https://coinmarketcap.com/currencies/dash/)

[https://www.dash.org/](https://www.dash.org/)

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roddux
Okay, so this is not a joke and apparently not an advert either. A dubious
claim.

I'm so confused. Paris Hilton must be close to the last celebrity on earth I
would have thought to endorse a coin sale. Who exactly is the audience, here?
I've never even heard of Lydian coin before.

~~~
cocktailpeanuts
In case you missed Mayweather
[https://twitter.com/FloydMayweather/status/90045925678433485...](https://twitter.com/FloydMayweather/status/900459256784334851)
this seems to be the trend nowadays. My guess is these scam companies approach
these celebrities for a one time promotion deal, and since there's nothing to
lose they just tweet it out.

I believe the "audience" is not so much different from those who fall for
Nigerian prince scams.

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Roshie5u
Is that even legal? All I have found is [https://www.ftc.gov/tips-
advice/business-center/guidance/ftc...](https://www.ftc.gov/tips-
advice/business-center/guidance/ftcs-endorsement-guides-what-people-are-
asking) but it reeds like just a bunch of guidelines.

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jpatokal
I'm fairly sure this is the 2010s equivalent of the shoeshine boy offering hot
stock tips. Time to sell...

[https://www.cnbc.com/2013/11/11/is-the-shoeshine-boy-
indicat...](https://www.cnbc.com/2013/11/11/is-the-shoeshine-boy-indicator-
flashing-red.html)

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brad0
My cousin told me I should invest in a particular cryptocoin the other day. He
knows little about computers and nothing about why this altcoin would be
valuable.

When everyday people are investing in these coins to make a quick buck it
makes alarm bells go off in my head.

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omarchowdhury
This cheapens crypto.

