“Venture funding for new #crypto projects is virtually dead and aftermarket trading for existing projects is at massive discounts. Reason? The #regulator is now regulating by enforcement, penalties & massive fines. The venture community has moved on to the next “big” thing, #AI”
I can’t wait to hear from know-it-alls who chime in. Oh yes, Kevin is a failure. Why trust him? What does he know?
Investing is what he does. You know why he’s on TV? He knows what he’s talking about.
There aren’t any positives here. You can deny what O’Leary is saying but the fact is Chia needs and wants investors. However it appears that investors are running away. There is no silver lining here. If anything it says that Chia becoming “something” is going to be pushed even farther away. Sure. Could happen. Might happen. But it appears the timeline is once again, working against Chia.
IPOs are for the adVENTURous peps with money doing nothing sitting around, hoping for a win in an as yet untested idea (private company) in need or want of an infusion of IPO funds.
IPOs have their ups and downs as far as popularity, but hope does seem to springs eternal for them, with varying valuations and IPO stock pricing.
As far as Chia Inc, as always with any of them, it’s a crap shoot.
The difference being that Bram and Gene planned regulatory compliance into their business model from the beginning. It’s also why they didn’t sell tokens and went for an IPO route. XCH is not a security in the eyes of regulators. Nakamoto consensus + coin set model + Chialisp + energy efficiency + compliance. That combination is what sets them apart and makes them attractive to investors and regulators alike.
It has always been a 10 year plan for me. Got out of Doge too early would of retired if I stuck with it. What are we almost 2 years in now, 8 more to go before I reevaluate personally.
Seriously? Split hairs much? People invest based on what? Advisors. Average Joe doesn’t throw their money around. Most people rely on experts “investors” to invest money smartly.
The point in what O’Leary is saying?
Sounds like those who make a living at investments, like the ones giving “people with the money” advice where to spend it, aren’t interested in investing in crypto for the time being.
If what O’Leary says is true? It says the mainstream investment community, as a whole, is running away. So when Chia, who wants everything by the book and regulated? Chia needs and always wanted people like O’Leary to believe in, and invest in what they are doing.
O’Learly is stating the contrary to what Chia wants. Confidence! The market is not confident in blockchains and crypto right now. Ultimately, it’s a negative trend not a positive trend. Without splitting hairs, it’s a negative for Chia. And? Chia themselves cannot convince the investment community that they are different, better, trustworthy, etc.
Yes Chia is doing things properly in order to bring this to the mainstream. O’Leary represents the mainstream $$$ and he’s stating clearly, nobody wants to touch crypto with a 10 foot pole right now.
I get those saying that it’s a 10 year play, and that’s fair. If you think Chia and its leadership can keep momentum going or even flat lining for another 5 years? The project will show cracks by then. Devs will pack up. People will move on.
Chia needs someone with big money to believe in what they are doing. Not their money. They need money of others who believe in their project. Where in O’Leary’s comments, could you see some positives? If you don’t listen to people like O’Leary or financial advisers, where do people turn for financial advice? YouTube? Chia can hope that people would invest in what they are trying to sell. They are financing off the prefarm. Who out there is throwing money to Chia? O’Leary’s comments reflect what the market (mainstream) is thinking.
It’s not really splitting hairs though. Venture capital and IPO investment really are two very different things.
You are right that the trend O’Learly describes is a negative overall and Chia is definitely feeling it or they would have announced their their IPO by now.
But even though it is maybe more severe than anticipated, it is still the very thing that CNI has said from the beginning. I think they did overestimate how much sway they had to keep from getting hit by the big sweep.
I will take your bait…He invested in- and promoted FTX and is getting his ass sued for it. Guess he’s the person to listen to.
Ah ha! I was waiting for the O’Leary FTX connection. Here is the thing. O’Leary isn’t even so much saying he thinks this or not, he’s sharing what investors (as a whole) are thinking. He is saying people are running away. It just means Chia is going to wait longer now. I know most of us see this as a long-term play, but…everyone has their limits. I’m talking devs and the project itself. They won’t share their timeline but the fact they talked IPO, going public long ago? That says they were not talking in 5 years or longer. They are financing everything not from investors who are showing great support and confidence in what they are doing. They are using their prefarm. Yes, in hopes that they can impress the mainstream who want to back it, support it, and put money into it.
We can all listen to or ignore anyone or anything and stick to our optimism. I don’t fault anyone for optimism. I’m just saying that O’Leary is speaking to a rather large negative against Chia because O’Learly represents mainstream and it’s what Chia seeks.
O’Leary really is a futurist and a supporter of crypto. The FTX story? Sure, that’s sexy. O’Learly has always been about blowing up blockchain technology and making it mainstream and widespread–through regulation. That will bring in the big bucks. Right in line with what Chia needs and wants. But O’Leary is dousing the optimism with a bit of reality. More than just a bear market on this one.
Bram has said multiple times that the prefarm is paying expenses and moving Chia development forward. Like for paying for people. Regardless of who jumped on in the past, even if you are right, moving forward? Read O’Leary’s comments. That money won’t be coming for some time by the sounds of it. Or you can believe that big bucks is out there and will go against conventional wisdom.
