
The analysis Filecoin doesn’t want you to read - petethomas
https://medium.com/token-economy/the-analysis-filecoin-doesnt-want-you-to-read-e60d5243f17c
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woodandsteel
I don't know enough about cybercurrency ICO's to say if this analysis is
correct. But if it is, it's puzzling, since Juan Benet really doesn't seem to
have started Protocol Labs for the money. Maybe he really thinks that they
could put $700 million to good use.

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wmf
"Problems" #1 (seed round) and #4 (controlling dilution) are standard
operating procedure for startups. Either silicon valley has been doing things
wrong for a long time and cryptocurrency people have suddenly discovered a
better way... or cryptocurrency is a bizarro parallel universe where bad ideas
have become best practices in a pretty short amount of time.

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thesausageking
Note: Protocol Labs is a YCombinator company and many of the insiders given
early access were YC affiliated.

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thesausageking
This is clearly a cash grab; there's no way the team needs to take in $400m to
build this.

What I don't understand is, the code is open source; why not fork it and
create a community run OpenFileCoin (OFC)? The point of ICOs is that we don't
need VCs or even companies behind them.

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sschueller
Where is the current source code? It appears they keeping it private.

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thesausageking
I mis-spoke. I meant when Protocol Labs (finally) releases something. Still
hard to get my head around a team raising $700m-1.2b without having any code
at all.

