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everyone needs to ignore Traxo for spreading FUD on purpose... he posts his link in every thread... once was enough
he is trying to spread epic FEAR into people!
The article linked makes some solid rational points. As an Early Adoptor, I still believe in doing Due Diligence regarding emerging investment opportunities. The article provides level headed rational arguments worthy of consideration before putting one's hard earned money into ICO's. |
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It's even bloodier than that: Are Most Cryptocurrencies Doomed to Collapse — because they’re “ICO-issued”?Excellent reading. It looks like this guy thinks the entire ICO industry could collapse. Worthy of a few re-reads no doubt. Still at a loss if any solution exists to the ICO Maybe I am missing something, but everyone here seems to have this backwards. The US government isn't going to come after US citizens who buy coins in an ICO. Why would they? I don't even think there is a law against buying coins.
The law pertains to selling the coins to US citizens, not buying them. If an ICO sells to US citizens, the US government, in all its oppressive fury, can say that the ICO, by selling to US citizens, must comply with US law. Then, they can come down on the ICO founders, destroy them, and take all their money. In the name of justice, of course. It's the American way.
So, naturally, ICOs may not want to do business with US citizens, as they don't want to be subject to draconian US laws. That's why they won't sell to you. They would like your money, but it's just safer to avoid Americans altogether. European banks have been cutting loose their US customers for years now, for similar reasons, making life for US expats nearly impossible.
By lying about who you are, you are exposing an innocent start-up company to the risk of US law destroying them. I suppose that, if they found out, you might be guilty of some kind of breach of contract. It would depend on the laws of the country they are based in, and that would be civil matter anyway - not a criminal matter.
The US government, in fact, might be thrilled by you buying into such an ICO. It gives them an excuse to go after the start-up, squash them and take their money.
I live in a country that hates freedom in East Europe but when I turn on TV all I hear is America is land of the free, are you trying to say that is not true? Freedom in the USA is over hyped, imho. |
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I don't think it's illegal for citizens, more like it's illegal for icos to sell to US citizens who not accredited investors.
https://www.sec.gov/news/press-release/2017-131"The Report confirms that issuers of distributed ledger or blockchain technology-based securities must register offers and sales of such securities unless a valid exemption applies. Those participating in unregistered offerings also may be liable for violations of the securities laws"Bloody hell. Thanks for sharing that link. Here's a quote from the full SEC text found at: https://www.sec.gov/litigation/investreport/34-81207.pdfMoreover, those who participate in an unregistered offer and sale of securities not subject
to a valid exemption are liable for violating Section 5. See, e.g., Murphy, 626 F.2d at 650-51
(“[T]hose who ha[ve] a necessary role in the transaction are held liable as participants.”) (citing
SEC v. North Am. Research & Dev. Corp., 424 F.2d 63, 81 (2d Cir. 1970); SEC v. Culpepper,
270 F.2d 241, 247 (2d Cir. 1959); SEC v. International Chem. Dev. Corp., 469 F.2d 20, 28 (10th
Cir. 1972); Pennaluna & Co. v. SEC, 410 F.2d 861, 864 n.1, 868 (9th Cir. 1969)); SEC v.
Softpoint, Inc., 958 F. Supp 846, 859-60 (S.D.N.Y. 1997) (“The prohibitions of Section 5 …
sweep[] broadly to encompass ‘any person’ who participates in the offer or sale of an
unregistered, non-exempt security.”); SEC v. Chinese Consol. Benevolent Ass’n., 120 F.2d 738,
740-41 (2d Cir. 1941) (defendant violated Section 5(a) “because it engaged in selling
unregistered securities” issued by a third party “when it solicited offers to buy the securities ‘for
value’”). |
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https://www.forbes.com/sites/ktorpey/2017/08/31/former-sec-attorney-explains-which-ethereum-icos-will-be-targeted-with-regulatory-action/#6f19e4c9eaf7Still looking for clarity on this. Maybe I am missing something, but everyone here seems to have this backwards. The US government isn't going to come after US citizens who buy coins in an ICO. Why would they? I don't even think there is a law against buying coins. If a person is not an accredited investor at the time they invest in the ICO, then can the SEC punish the person? The law pertains to selling the coins to US citizens, not buying them. If an ICO sells to US citizens, the US government, in all its oppressive fury, can say that the ICO, by selling to US citizens, must comply with US law. Then, they can come down on the ICO founders, destroy them, and take all their money. In the name of justice, of course. It's the American way. Yep, whistleblower bounty, as referenced in the Forbes article above. So, naturally, ICOs may not want to do business with US citizens, as they don't want to be subject to draconian US laws. That's why they won't sell to you. They would like your money, but it's just safer to avoid Americans altogether. European banks have been cutting loose their US customers for years now, for similar reasons, making life for US expats nearly impossible. So can a non-accredited investor who is a US citizen get Estonian E-residency and from that account, invest in ICO's? https://e-resident.gov.ee/By lying about who you are, you are exposing an innocent start-up company to the risk of US law destroying them. I suppose that, if they found out, you might be guilty of some kind of breach of contract. It would depend on the laws of the country they are based in, and that would be civil matter anyway - not a criminal matter.
The US government, in fact, might be thrilled by you buying into such an ICO. It gives them an excuse to go after the start-up, squash them and take their money.
Def don't want to lie. This is why I'm doing my due diligence now.
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So I live in the USA, New York State.
If I use a VPN to buy into an ICO, will the US Gov't or even New York state government punish me somehow?
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How do we know you won't steal our idea? Like a Winklevoss/Zuckerberg situation?
I have an idea for the Art Industry. It combines both Augmented Reality and Blockchain.
Super timely market entry.
Competitors thoroughly researched.
Market size research conducted via UBS/Frieze...and TEFAF.
Solid business fundamentals.
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How often does this occur at the BK Public Library? Once a month? Hardly enough to contaminate by osmosis. Yet, enough to educate about diversity in people.
If a person doesn't like it, then don't take their kids there. Parental Supervision encouraged.
It is NYC. NYC is still a "melting pot" of every imaginable type of person. Education about diversity of people is a good thing, IMHO.
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Personally, I don't have a problem with TS, TG, TV, or otherwise rare subcultures. Live and let live.
With regards to biblical reasoning, I don't see how any government can legislate morality, and therefore true obedience. A government's laws can't legislate "faith" or being "born again".
So as long as TS, TG, and TV types aren't harming anyone, especially children, there's better ways to invest judicial and legislative branch resources rather than through anti-TG legislation.
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Contentment doesn't come from circumstantial success. Circumstances change like the markets.
Contentment comes from inside. We often take a good thing like money and ascribe too much importance to it. And therefore suffer discontentment.
It is not Stoicism, IMHO. Epictetus said, “Begin with a cup or a household utensil, if it breaks say, ‘I don’t care.’ Go on to a horse or a pet dog, if anything happens to it say, ‘I don’t care.’ Go on to yourself and if you’re hurt or injured in any way say, ‘I don’t care.’ And if you go on long enough and if you try hard enough you’ll come to a state when you can walk your nearest and dearest suffer and die and say, ‘I don’t care.’" Abolishing our feelings doesn't resolve the issue. Feelings are like a water faucet that delivers both cold and hot water. Lock out the cold and you lock out the hot too. Ultimately, that creates depression.
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Looking to unload this Tumblr blog.
Back in March 2011, Tumblr staff created a blog for me.
It got featured on two spotlights, simultaneously. This is why the account enjoys so many followers.
There are currently 1140 posts on the account.
It's a photography blog. I don't update anymore. Audience mostly interested in fashion/photography.
PM me for more information.
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A blockchain developer probably has a better chance of becoming a millionaire by being the 100th employee at an Institution Blockchain than being a Founder at a start up.
You basically want a co-founder for your blockchain.
So sell them the vision, the team, market size, due diligence among competitors, the problem you solve...
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Does anyone here have a good reference for different compensation rewards for ICO employees?
ICO is in 6+ months.
For instance, a person doesn't have FIAT cash to invest in an ICO, but would accept Crypto Currency for salary.
Thanks!
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