The Value Trap Dilemma
A blog by Vinny Lingham
by Vinny Lingham
3y ago
Over the years, economists and philosophers have defined a range of choices that humans may experience in their day to day existence, including Morton’s Fork, Burdian’s Ass and Hobson’s Choice. My partner at Multicoin Capital, Kyle Samani recently wrote about the Scalability Trilemma that exists in the blockchain world too. In this post, I’d like to propose the Value Trap Dilemma (VTD). The VTD is the conflict of interests that occurs when a project is funded by both traditional shareholders in a company and token holders in a network. The network is produced by a company funded by share ..read more
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A Tale of Two Bitcoins
A blog by Vinny Lingham
by Vinny Lingham
3y ago
It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way — in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of co ..read more
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Democratizing Crypto Investing
A blog by Vinny Lingham
by Vinny Lingham
3y ago
2017 was, without a doubt, the year that crypto trading and investing came out of the shadows and into the mainstream consciousness of everyone in the technology world, and beyond. When my company, Civic, conducted a token sale back in June of this year, we had as many as 50,000 people waiting in a queue, to purchase our tokens, and we concluded a successful $33m token sale. We were one of only a few dozen companies that had attempted to do anything like this, and at scale, where the tokens were sold to thousands of people, around the globe and we required everyone to use a Civic ac ..read more
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The New Financial Revolution
A blog by Vinny Lingham
by Vinny Lingham
3y ago
Cryptocurrencies such as Bitcoin & Ethereum have ushered in a new era for the world, with Bitcoin hitting highs of nearly $6,000 yesterday. Most of us in the industry have been caught off-guard by how (and why) the market capitalization of crypto currencies & assets has exceeded $150bn so quickly this year. I’ve spent a fair amount of time thinking about this and where we are going to next and so I’m going to try to weave a number of seemingly unrelated observations together in this post to, hopefully, light the way.  — @cburniske Firstly, the big question is “Are we in a bubbl ..read more
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A Brief Introduction to Token Sales
A blog by Vinny Lingham
by Vinny Lingham
3y ago
Since the Civic Token Sale in June, I’ve been inundated with questions from friends, VC’s, fellow entrepreneurs and just about anyone else out there who wants to do a Token Sale. My previous blog post on “Tokens are eating the World” surpassed all the views, likes and shares of every previous post I have written! It’s seems “so easy” to slap together a Token Sale with a white paper, pivot your business model ever so slightly and then raise tens or even hundreds of millions of dollars within seconds. Everyone else is doing it, so why shouldn’t I?! In reality, it’s not that simple. This process ..read more
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Why Tokens are Eating the World
A blog by Vinny Lingham
by Vinny Lingham
3y ago
The title of this post pays homage to Marc Andreessen’s epic post in 2012, “Why Software is Eating the World.” Marc made some very interesting observations in that seminal post where he succinctly forecasts much of what has transpired over the past half-decade. Software has been the leading driver of change in the world and the software giants such as Google, Amazon, Facebook, Salesforce and the like have only continued to grow in size and scale — leading much of the world into a new era and forcing companies and industries to transform, in order to keep up with the pace of innovation. In a s ..read more
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Optimizing for Network Success
A blog by Vinny Lingham
by Vinny Lingham
3y ago
My previous post about Vanity Headlines not being the goal for Civic’s upcoming Token Sale at 6am PDT on Wednesday 21 June was well received from the community as the right way to conduct a crowd sale of tokens. We are breaking new ground here and there are no best practices yet in our industry, but we hope that our learnings will be adopted and improved upon by other companies, and even better —hopefully our technology will be used to develop closer relationships with other buyers of token sales. I wanted to follow it up with an explanation of the thinking behind some of the decisions t ..read more
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The vanity headline is not the goal: Introducing the Civic Token Sale
A blog by Vinny Lingham
by Vinny Lingham
3y ago
Today, at Civic, we’re releasing our much anticipated whitepaper, on our Token Sale page. We’ve done things a bit differently, but for very good reasons which I outline later in this post. We’ve decided to create a model for doing a token sale that is fair & innovative, and we hope others will follow in our footsteps. Before I delve straight in, I felt the need to identify an area of concern in the crypto ecosystem around how the current media attention to token sales are leading us down a path where we are no longer focusing on the goal, but instead following a narrative that is harmful ..read more
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Civic: Enabling the future of privacy & digital security with ChainAuth™
A blog by Vinny Lingham
by Vinny Lingham
3y ago
When we introduced Civic last year, we were very careful to not overplay our hand. We wanted to start by building trust and creating an Identity Protection Network where consumers could signup for free identity theft protection services and, in the process, allow us to verify and authenticate who they are. This strategy has helped us build and create systems for ID Verification that will be the underpinning of a much larger vision that we have been working on in the background — creating Digital Identities for everyone. I’m proud to announce that after over 18 months of development, Civic’s D ..read more
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Satoshi’s Choice
A blog by Vinny Lingham
by Vinny Lingham
3y ago
My prior posts have tended to be largely focused on the economics of Bitcoin. Lately, I’ve been paying more attention to the psychology and sociology of Bitcoin. I’m not a cultist or a religious zealot. Never have, never will be. I do, however, find it fascinating to see how many people have adopted a cult-like approach to the debate about “Scaling Bitcoin.” I consider myself a free-thinker. If & when the facts change, I will change my mind. I abhor labels and avoid groupthink. I have found in my experience that even in the most heated of debates, maintaining composure and mutual respect ..read more
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