Hello Monaco magazine Winter 2018 - issue HM02 - Page 60

INVESTORY Go to www.coinschedule.com and you will see dozens of launches for new digital currencies. Similar to an IPO for shares, these are crowd-funded ventures launching digital coins — an ICO — in which you can buy a stake. So what is an ICO? An ICO is like an IPO for shares. An IPO, or initial public offering, offers a chance to make big mon- ey quickly by getting in on the ground floor of the newly traded company. In the same way, an ICO, or initial coin of- fering, offers a chance to make big money quickly by get- ting in on the next new Blockchain venture. It’s a formula that has led to over $3 billion being raised so far this year (with only 200 Blockchain start-ups), issuing digital tokens at a faster pace than any other early-stage venture capital funding. Their digital tokens, just like Bitcoin, soar in value when they trade on digital currency exchanges — making new millionaires and billionaires. Does it sound like the dotcom boom all over again? That is ex- actly what it is. Here is a listing of some interesting companies that raised fast money: What the Rich, Famous say about Bitcoin Richard Branson likes Bitcoin so much he has publically pleaded with people to buy even one Bitcoin. He even offers a ride on Virgin Galactica for a mere 35 Bitcoins. More than 700 people have signed up so far, including celebrities Brad Pitt, Ashton Kutcher, Angelina Jolie, Tom Hanks and Paris Hilton, reports say. Gold is a good way to preserve wealth, but it is difficult to move around. Bitcoin fits nicely as an alternative. I’m not amazed to see that happening.» — Jim Rickards, American Lawyer, Economist and Investment Banker 58 / Hello Monaco – Winter 2018 © But not everyone is pro-Blockchain. While Bill Gates likes Bitcoin, War- ren Buffet, CEO of Berkshire Hatha- way and Gates’ long-time investment guru, warns against Bitcoin: «Stay away from it. It’s a mirage, basically» (14 Feb, 2014). And Paul Krugman, Nobel-prize winning economist, said in December, 2013: «Bitcoin is evil.» © emprendedoresnews.com