Yeah even the gimmicky "we use a different proof of work" coins seem to be losing value, which shouldn't be a surprise since all the gimmicky proofs of work are less efficient than SHA256 so its like hey not only do we have a silly gimmick we are also less efficient, isn't that great, buy us!

-MarkM-

A bit of advice for non-U.S. entities that have offered and dealt with the U.S. citizens:

Whatever you do make sure that you return to the investor at least the original nominal value of the investment. Or that you can return the original nominal value to all the investors.

As far as I know, in the history of S.E.C. there wasn't a case pursued or prosecuted that didn't involve at least a nominal loss of value (denominated in whatever units).

Please check out the recent case of SatoshiDice and its recent "sale to the undisclosed investors". It is a kind of "ultimate defense". Faced with limited resources S.E.C. (and others) will not spend the energy to pursue a case where there isn't a clear loss or wrongdoing to be shown.

If you are capable of returning the funds received from the U.S.-based investors you have nothing to worry besides a stern cease-and-desist letter from S.E.C. or your local government agency that cooperates with the S.E.C.

IANAL, but I ate many lunches with them.

I think they are pretty good, actually.  From the attendant Investor Alert:

"the fraud may also involve an unregistered offering or trading platform"

and, here's the real kicker:

"Any investment in securities in the United states remains subject to the jurisdiction of the SEC regardless of whether the investment is made in U.S. dollars or a virtual currency. In particular, individuals selling investments are typically subject to federal or state licensing requirements."

I have, of course, counseled my clients on this point for some time.

Attention Unregistered Exchanges, Perpetual Mining Bonds (PMBs), REITs, and other members of the Bitcoin investment space: The SEC has explicitly indicated its intention to apply the already-existing laws to your security.  You may be selling securities in violation of the Securities Laws.

Woo! I managed to sell my TRC at the usual rate before the crash!

Have a look at those stats!

http://www.coinwarz.com/cryptocurrency/

Anyone know of any underground music scenes fueled by bitcoin. My brother is a turntablist and he's in a local Arizona band and I want to help them and other artists. As a fan and user of bitcoin I wonder if there are any ways to support these local bands and promote them to help them make a living outside the record industry by using bitcoin. There are a lot of great artists not getting played because o f the music industry system and I think bitcoin can help. Any ideas would be greatly appreciated.