editor https://lowercase.cards/ moderator /lowercase

Working on Farcaster and Warpcast. Longer thoughts at https://dwr.email

tbh I see where the criticism is coming from. I can only speak for a handful of experiences in the past, but it also rubbed me the wrong way that for the same time of entry some institutional investors got MUCH better token price deals than retail so that at the point of the launch it was possible to dump on retail

Evidence that the big investors “dumped on retail”?

Early investors usually get a better price in non-crypto?

Before VCs took over ICOs, normals could get early access at the same price. I bought ETH in the pre-sale for $0.25. That could never happen today.

It’s due to SEC and backwards accredited investors rules as much as VCs, but it’s definitely true that ICOs are a rigged game at this point.

Definitely not evidence. Just saying the possibility existed

Anyways, these investors were not significantly earlier. They were just part of internal fundraising conversations 1-2 months before the public launch but they e.g. got the token for 4 cents instead of 40 cents (entirely fictional numbers).