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In theory, there is no valid purpose for ICOs except for legally
regulated companies to violate the law, which is clearly asinine.
A regulated ICO is an oxymoron and in practice is impossible to
guarantee full compliance. So, it is simpler to make ICOs illegal
for businesses, than to attempt to regulate them, since they by
design, facilitate no other function than noncompliance.
IMO, ICOs are only beneficial for the funding and creation of
illegal markets or illegal software. Of course, when this occurs,
majority of those project will be scams as well, but at least
those ICOs are not legal oxymorons like today's version.
Wow. What a horrid outlook.
ICOs allow autonomy of money. They allow decentralized participation.
The average person can get in on an ICO, the same way they can go to a casino. Where as securities require archaic framework, muddled with endless corruption, short sellers, etc. You may not even be able to buy into them, depending on who you are and who they are, and it'll cost you money.
I Authenticate
It is not horrid, it is how the law functions.
You have two choices here: either comply or circumvent.
ICOs can not be decentralized and are actually rings of centralization
upon each other. Depending on your parent system, all ICO dependents
could be voided or outright destroyed.
Casinos are majority of the time regulated and when you deposit or
withdraw, you are forced to comply with their KYC/AML. So, ICOs are
not like Casinos in anyway, unless you are taking about unregulated
or illegal casinos.
Your personal beliefs on how "securities" function and the barriers
to entry are irrelevant. Security devices were created to be regulated
for human protection from human exploitation. Whether the current
system is an efficient one, is irrelevant. The original purpose was
protection from those who are destructive to the larger system.
ICOs, as they currently exist, are destructive to different systems
and do not provide any benefit to the world, accept maybe as to
revealing new loopholes that governments will eventually patch,
since it is possible to patch and enforce against such a weak device.
In most ways, ICOs are worse than Shitcoins.
An ICO also allows funding without a change in ownership. Unlike a traditional security where public stock offerings may kill the company under new ownership, thereby screwing the small investor, an ICO doesn't relinquish control to penny pushers. Another way to see them is they allows the mission statement to continue without intervention.
IMO ICOs are amazing, many of their attributes will be found in the future of investing.
This is irrelevant since ownership does not exist in ICOs, nor in
properly functioning blockchain systems. If you claim you have
ownership, it is only because your human government has
granted you those rights, like with legitimate securities. ICOs are
illegal and unregistered financial devices, designed to exploit the
system so that human exploitation could be performed with very
high gains.
When you combine "legally complying entities" WITH an "illegal
circumvention devices", and argue that it has valid aspects, to
my understanding, that is comparable to saying "murder is beneficial".
It could be argued that murder is a more efficient and natural way
for humans to acquiring assets or property, when compared to
doing such through burdensome and numerous hurdles of the
governmental regulation systems. The laws exist to prevent
actions that you are either aware of or not, and whether you will
perform or not. What is burdensome to you as a normal user,
is preventive to another who is an normal attacker. ICOs allow
normal attackers to perform exploitation upon the normal users.
Regulation of ICOs can never stop exploitation in the same manner
that regulated securities currently do, so it will be outlawed for
legal entities to use.
The reality is that ICOs will likely not survive into the future
because they circumvent while being created by legal entities that
are forced to comply. This contradiction is laughable and means
either two things: either stupidity or outright scam. These tokens
and their controllers are ripe for enforcement and their time will
come since they are all ignorant or willful. The governments
and laws profit most from human ignorance. If humans always
complied and were knowledgeable, governments would serve no
purpose. The reality is that your current programming prevents
you from taking appropriate actions and thus needs human
governance to protect you from others, and others from you.
Danger Close ICO No Play
Roger Roger
