#ICO launch Boosts Overstock Price #Ethereum

This ICO launch is not Ethereum what you think. It has nothing to do with ETHEREUM and highlights a potential issues with Etherum use in the future.

Shares of cryptocurrency pioneer Overstock.com climbed more than 5% on Tuesday after the company revealed that it will launch an ICO on Nov. 1 using its proprietary tZERO platform, a strategy that will allow Overstock to raise capital without diluting its float.

Overstock to launch ICO

tZero info here – it looks like one giant competitor to Ethereum’s ICO market – only it looks somewhat regulated. I dont see this as bullish for Ethereum.

This tZero has NOTHING to do with Ethereum – and if its successful will pave the way for other companies to go out and grab more cash. It also shows that Ethereum is just a guinea pig showing how much capital can be raised from pointless ICO’s. There is NOTHING to stop any copy from launching its own private Ethereum (or similar) network.

Another example of this is Microsoft launching private Ethereum networks. These networks dont require the use of Ether.

Which begs me to ask an open question: Is the general public that is buying Ethereum just paying for free development for major corporations and government?

Sure small companies can and will still launch using the Ethereum network but as for large companies using the public Ethereum network (and thereby driving up the price of ETH) its looking doubtful (I say this is a holder of Etherum).

 

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