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95% of People on this planet are not affected by the SEC. (they live outside of the US)
by mrwong 9y ago
95% of People on this planet are not affected by the SEC. (they live outside of the US)
- alexasmyths 9y agoThe same entities in other parts of the world will take similar action, because of the inherent problems with ICOs as a financial instrument. But it won't matter - the SEC won't have to do anything. After the flood of ICO's this year - investor will see how most of them are bust, and will pull their money out. The market will correct itself on that one.
- mrwong 9y agojust like the market corrected after Bitcoin hit 1$ the first time 10$ the first time 100$ the first time 1000$ the first time. 8000$ the first time. Sure markets correct, but somehow the ride continued. I love how Silicon Valley was ridiculing industries like print, brick and mortar commerce and old-media for not adopting to the new future technologies. But now that something appeared that challenges SVs status quo, they do just the same and dismiss it. I think this shows that legacy thinking is a psychological problem and not an IQ problem.
- guiomie 9y agoI find quite entertaining how you just generalized every company and individual in SV as dismissing crypto. There is no undenying VCs have always been a central part of SV, and tons of them are invested in blockchain companies, their are tons of blockchain startups in SF/SV and some big tech companies like Microsoft are also involved.
- mbaha 9y agoCouldn't agree more. Although to be more precise, ETH/ICOs are threatening the standard financing model proper in Silicon Valley, and not SV as a whole. I basically see the future as being both really dystopic and utopic at the same time: So (mostly rich) people will be able to invest their money without any friction, but this will destroy the rent-seeking institutions that weren't meant to exist in the first place => power to the geeks and the rich, but you won't be able to make any money by just making "deals". Would love to be convinced otherwise though....
- alexasmyths 9y ago"ETH/ICOs are threatening the standard financing model" ICOs are challenging nothing. ICOers are selling 'numbers' for real money - and the value of those 'numbers' is going to zero pretty quickly. BTC will be around for a while, but these ICO-ers are selling nothing in return for real money, and that won't last. It will end soon. Nobody has a 'lock' on the 'VC' model. Anyone can invest - including you. The issue relates mostly to regulations, which are there to protect you - and also actual ownership of assets, which is a pretty big deal.
- wpietri 9y agoThe relevant factor for market regulation is not the number of people but the size of the market. The US stock market is 39% of all publicly traded stocks. The US market is bigger than the next 8 countries put together. Source: https://www.indexmundi.com/facts/indicators/CM.MKT.LCAP.CD/rankings https://www.indexmundi.com/facts/indicators/CM.MKT.LCAP.CD/r... Moreover, countries with successful stock markets tend to follow similar rules because they coordinate with one another. The US is a leader in that.
- madeofpalk 9y agoChina has banned ICOs https://techcrunch.com/2017/09/04/chinas-central-bank-has-banned-icos/ https://techcrunch.com/2017/09/04/chinas-central-bank-has-ba...
- mycall 9y agoNot all https://themerkle.com/can-neo-become-chinas-go-to-platform-for-icos/ https://themerkle.com/can-neo-become-chinas-go-to-platform-f...
- zerostar07 9y agowould you be interested in a bet on what the EU will do ?