3 ms·
I'm a registered Libertarian (lol) who isn't against reigning in ICOs. My chief concern is regulation creep from problems that do exist, to problems that may ex
by viridian 9y ago
I'm a registered Libertarian (lol) who isn't against reigning in ICOs. My chief concern is regulation creep from problems that do exist, to problems that may exist in the future, but aren't really a current concern. I find targeting the latter gives a government a whole lot of elbow room to extract wealth, via things like trade license fees, ICO officiation fees, a requirement that a coin some some property that creates a weak binding with a given fiat currency, etc.
It is worth noting though, that ICOs are primarily a problem because there are a lot of hungry investors looking to 100x their returns, and don't have the tech background required to dissect a whitepaper. Protecting the gullible and uninformed from the manipulative is one of hardest tasks of any society, and the fight is never ending.
- prklmn 9y agoyour point about needing a tech background to invest is like saying that one should have a finance background to invest in an IPO. I disagree.
- Cthulhu_ 9y agoIt's very much a thing over in Europe though, the new MiFID II directive is a thing intended to protect investors - one implementation that (online) investment banking sites have to offer now is things like a basic test, that is, you need to prove you have half a clue what you're doing.
- MarkMMullin 9y agoHaving a tech background does allow you to better understand what is going on and how it might provide value - conversely, a finance background is probably a good thing to have if you're looking at the IPO for a B2B financial services company
- fouc 9y agoHaving full understanding of a whitepaper doesn't give you protection from bad code and other scams does it?