Vitalik Buterin wants ICOs to let investors withdraw

[admin]

Ethereum creator Vitalik Buterin along with Jason Teutsch, creator of TrueBit published a whitepaper outlining a concept they're calling "interactive coin offerings".

allowing people to pull out of an ICO and get their money back. “Potential buyers may enter and exit the crowd sale based on behaviors of other buyers, and in doing so tend the valuation towards a market equilibrium.”

whitepaper:

https://people.cs.uchicago.edu/~teutsch/papers/ico.pdf

[iconoclast]

Interesting paper but misses the whole point that what is going to have a greater impact on how your Tokens performs down the line is the ability of the Team behind the ICO to turn the money raised into a thriving business. 

[val]

It is really very interesting idea to allow people to pull out of an ICO and get their money back!

[iconoclast]

Might this tempt people to put their money into an ICO and if it does not sell out quickly guaranteeing pent up demand in the aftermarket then sell out? I can see that this would create even bigger problems than the one it is trying to solve. If they really wanted to do this they could just open the ICO's to Paypal.

[Lamby]

Seems a nice idea. But it will be the death of icos because the softcap and hardcap will keep shifting as people withdraw and others come in.

[sieemma]

That will mean ICOs will be success will be determined by the investor and guess what, potentially successful ICOs will end failingas competitors may buy the bulk of tokens and later withdraw from the ICO making it fail.

[damsix]

It's good for such things, but if the experienced person might just use Haardfork to create a new coin, if it's through an ICO that has so many problems