[ETH] Ethereum = Scam

[xneo]

If Vitalik Buterin is involved, it's not a scam, as simple as that. Enough for me to think Ethereum is real Bitcoin 2.0. Are you aware what kind of expert he is? In par with Satoshi probably, if not better.

exactly! that dude lived in an abandoned building with the unsystem guys writing code for months. I cna't believe some of the people here, just talking out of their ass!

LOL do you know this for a fact or just fcking hearsay. Why dont you dig a little deeper?

Guess what dumb ass, ppl know Vitalik in CS at UoW and they dont have any impression of him being "genius". Typical scripting hacker as they describe him.

Yeah Vitalik is treated like some prodigy figure.  You know Goldmansachs has effective advertising is people know who Vitalik is but have no idea who Charlie Lee or Gavin Andressen is.  Vitalik, before Ethereum, call to fame was editing some magazine which was only read by hundreds and a little side programming - no proof of him being a prodigy of anything - more like a mascot for GMS.

do you understand that he was 17!!! WTF did you do when you were 17? drink 22s and tried to get laid?

There have been countless people UNDER 17 that have accomplished more than Vitalik who from what I can see has won ALL accolades from ethereum not for anything else.

This is equivalent to giving Woz all kinds of crazy awards while he was still working at HP because he might create a personal computer.

Or better yet lets start giving awards to actors who have yet to make the movie they certainly will be great in. It is ridiculous.

nothing else??? really?
https://github.com/vbuterin/pybitcointools

he has also worked on SX
http://sx.dyne.org/

Oh WOW definitely the next Turing award recipient with such contributions as those...

**polishes award**

[bubble83]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

[TaunSew]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

[slaveforanunnak1]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

[xneo]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

[TaunSew]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

Indeed.  I would like to see that hold up in court.   They're going to get attention by both the Canadian and Swiss authorities and I don't think a "disclaimer" can make them bypass laws on securities and crowd funding.

The group of developers and other personnel that is now, or will be,                 employed by, or contracted with, Ethereum Switzerland GmbH (“EthSuisse”) is termedthe“EthereumTeam.”              EthSuisse will be liquidated shortly after creation of genesis block, andEthSuisseanticipates(butdoesnot                guarantee) that after it is dissolved the Ethereum Platform will continue to be developed by persons and                 entities who support Ethereum, including both volunteers and developers who arepaidbynonprofitentities               interested in supporting the Ethereum Platform.

Yup, so they already admit their first plan is to dissolve Ethereum right after it launches.  Talk about a scam.  Their main concern is not launching Ether but purposely trying to avoid any legal issues in an illegal securities / crowd funding offer.

[armin22]

As much as i dislike spoetnik, i gotta say, i share his views on this etherium crap.

[oldmarsh]

but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

++ So true. I will say I am Canadian and know another Canadian who has been to court for a fairly serious fraud charge. He showed up hella late and completely bullshitted the judge, the judge 'believed' it and ended up giving him probation, no fines whatsoever. Then he bullshitted the probation officer missing half my appointments and still got released. And after a couple of years, it's off my record now.

[GreenBacksTeam]

By receiving as many funds and media attention as they have received, there is a small chance they do not at least get investigated.

[xneo]

but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

++ So true. I will say I am Canadian and know another Canadian who has been to court for a fairly serious fraud charge. He showed up hella late and completely bullshitted the judge, the judge 'believed' it and ended up giving him probation, no fines whatsoever. Then he bullshitted the probation officer missing half my appointments and still got released. And after a couple of years, it's off my record now.

Canada won't be so lax if they have the US pressuring them (along with possible other countries from around the world)... ETH purchases are not limited to Canada and once again placing in your terms and conditions that "you as the purchaser have to abide by the laws of your home country" doesn't make you exempt.

[xneo]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

Indeed.  I would like to see that hold up in court.   They're going to get attention by both the Canadian and Swiss authorities and I don't think a "disclaimer" can make them bypass laws on securities and crowd funding.

The group of developers and other personnel that is now, or will be,                 employed by, or contracted with, Ethereum Switzerland GmbH (“EthSuisse”) is termedthe“EthereumTeam.”              EthSuisse will be liquidated shortly after creation of genesis block, andEthSuisseanticipates(butdoesnot                guarantee) that after it is dissolved the Ethereum Platform will continue to be developed by persons and                 entities who support Ethereum, including both volunteers and developers who arepaidbynonprofitentities               interested in supporting the Ethereum Platform.

Yup, so they already admit their first plan is to dissolve Ethereum right after it launches.  Talk about a scam.  Their main concern is not launching Ether but purposely trying to avoid any legal issues in an illegal securities / crowd funding offer.

The sad part is even if the entire dev team goes to jail, it won't fix the damage to digital currency in general. Ethereum isn't too big to fail and certainly not too big to jail (see US financial institutions executives for those who are) but it is big enough to prevent future, legitimate offerings from finding even a portion of the fraud funding they are seeking.

[slaveforanunnak1]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

What does the Suiss have to do with the SEC baby? does the SEC run the planet?

[xneo]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

What does the Suiss have to do with the SEC baby? does the SEC run the planet?

Being based in Switzerland doesn't mean sh*t:

whose your daddy?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540498213#.U9HAPO9XZAg

And yes the American banking relationship with the rest of the world makes it a hard place to hide finances especially if you are not connected at the highest levels which this Canadian band of bitcoin bandits clearly isn't.

[slaveforanunnak1]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

What does the Suiss have to do with the SEC baby? does the SEC run the planet?

Being based in Switzerland doesn't mean sh*t:

whose your daddy?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540498213#.U9HAPO9XZAg

And yes the American banking relationship with the rest of the world makes it a hard place to hide finances especially if you are not connected at the highest levels which this Canadian band of bitcoin bandits clearly isn't.

Bitcoin Bandits? Really?? Judge jury and the executioner? Seriously... wtf are you
yes.. Banking relationships.. BAAANNKKING relationships! did you not get the memo?
Where were you when MF Global took all that money? UNDER SEC's supervision? Or when we found out about the LIBOR fixing??
Get off of your soapbox. Why don't you start yelling, if and only IF they steal all the btc and abandon ship with no working product.

cheers

[xneo]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

What does the Suiss have to do with the SEC baby? does the SEC run the planet?

Being based in Switzerland doesn't mean sh*t:

whose your daddy?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540498213#.U9HAPO9XZAg

And yes the American banking relationship with the rest of the world makes it a hard place to hide finances especially if you are not connected at the highest levels which this Canadian band of bitcoin bandits clearly isn't.

Bitcoin Bandits? Really?? Judge jury and the executioner? Seriously... wtf are you
yes.. Banking relationships.. BAAANNKKING relationships! did you not get the memo?
Where were you when MF Global took all that money? UNDER SEC's supervision? Or when we found out about the LIBOR fixing??
Get off of your soapbox. Why don't you start yelling, if and only IF they steal all the btc and abandon ship with no working product.

cheers

Those cases you pointed out fall into "too big to jail."
Ethereum and the people working out of Bitcoin Decentral (most of whom also work for Ethereum, EthSuisse, EthFraud...)
are just the right size: big enough to help a prosecutor's resume and not large enough to cause large financial waves.

[slaveforanunnak1]

How did Ethereum get round the SEC rules on selling unregistered securities, or is it registered with them?

Yes it's forgotten that Ethereum tried a sale back in January but it was cancelled when they found out it was breaking Ontario Government laws on securities and crowd funding.  No idea how they are able to renew the Ether sale without breaking laws in Canada.  I imagine Ethereum has either relocated to Switzerland or Uganda as indicated on their website.

I don't think relocating can exempt them from Canadian law, especially when prior evidence indicates it was a Canadian operation, but that doesn't matter since the laws takes years to prosecute people and Ethereum company by then could be dissolved.  Maybe Vitalik could be under house arrest like Charlie Shrem but then it's Canada so he'ld probably just get probation "don't you ever do that again young mister, oh and you can keep that $8 million you made".

Switzerland and it's not really an IPO. Loopholes baby
https://www.youtube.com/watch?feature=player_embedded&v=2PAHMxQCDAQ#t=216

Won't stop them from getting prosecuted baby if enough people complain to their respective governments

Also just because you say "This is not an ipo. ETH is not a security or derivative" does not make it so. The OSC or the SEC could see it very differently...

What does the Suiss have to do with the SEC baby? does the SEC run the planet?

Being based in Switzerland doesn't mean sh*t:

whose your daddy?
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370540498213#.U9HAPO9XZAg

And yes the American banking relationship with the rest of the world makes it a hard place to hide finances especially if you are not connected at the highest levels which this Canadian band of bitcoin bandits clearly isn't.

Bitcoin Bandits? Really?? Judge jury and the executioner? Seriously... wtf are you
yes.. Banking relationships.. BAAANNKKING relationships! did you not get the memo?
Where were you when MF Global took all that money? UNDER SEC's supervision? Or when we found out about the LIBOR fixing??
Get off of your soapbox. Why don't you start yelling, if and only IF they steal all the btc and abandon ship with no working product.

cheers

Those cases you pointed out fall into "too big to jail."
Ethereum and the people working out of Bitcoin Decentral (most of whom also work for Ethereum, EthSuisse, EthFraud...)
are just the right size: big enough to help a prosecutor's resume and not large enough to cause large financial waves.

Unless they ACTUALLY DO what they said they would.
Too big to fail? too big to jail? Fuckaatahere  Time to click the ignore button. Nice talking to you ( not really actually)

bye!

yes.. this kid is going to steal all of our money! thats his motivation!!! lol
https://www.youtube.com/watch?feature=player_detailpage&list=UU6rYoXJ_3BbPyWx_GQDDRRQ&v=rJAEgFz-vjk

[solid12345]

Amazing to see the amount of whining over this, as if angel investors don't hand out money all the time to projects that may never go anywhere or perform, it's called taking a risk. If you don't like it, don't give them your money, if you think it's a scam, then present proof or facts it is. Otherwise it is just opinions pulled out your asses.

[slaveforanunnak1]

Amazing to see the amount of whining over this, as if angel investors don't hand out money all the time to projects that may never go anywhere or perform, it's called taking a risk. If you don't like it, don't give them your money, if you think it's a scam, then present proof or facts it is. Otherwise it is just opinions pulled out your asses.

more like pulled out of their dick holes!

[ivanst776]

Now it seems like they're running into legal issues and
may have to cancel IPO release for the United States

[xneo]

Now it seems like they're running into legal issues and
may have to cancel IPO release for the United States

link?