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To be fair to many ICOs they don't make most of these claims. They are cherry picking the worst of the worst and presenting a straw man. I agree the crypto curr
by ddtaylor 8y ago
To be fair to many ICOs they don't make most of these claims. They are cherry picking the worst of the worst and presenting a straw man. I agree the crypto currency space is messed up but I think this could be done better.
- dylz 8y agoThe worst of the worst are still exceptionally common though. It is by no means the exclusion.
- ddtaylor 8y agoHow many ICOs actually claim to be backed by the US government? Tether and some others claimed at one time to be redeemable for USD. Also, FWIW I'm not condoning or supporting Tether.
- dragonwriter 8y agoClaiming to be redeemable isn't claiming to be backed by the US government. (USD is backed by the US government, but “redeemable FOR USD” isn't “USD”.)
- ddtaylor 8y agoI agree, Tether is simply the closest I have found to the joke claim on the SEC website, so I really don't know where they are getting that one from.
- atomical 8y agoWhat's wrong with cherry picking the worst? Maybe they are targeting the most gullible for education?
- ddtaylor 8y agoStrange analogy, but I feel it's like using Alex Jones to discredit anyone with conservative or anti-establishment views.
- newman8r 8y agoIt is entertaining though. They chose some pretty funny stock photos.
- ddtaylor 8y agoI agree it's entertaining.
- JumpCrisscross 8y agoThe SEC holds ICO tokens to be securities; every ICO selling (wittingly or unwittingly, directly or indirectly) to un-accredited American investors is thus acting unlawfully. That describes every ICO I’ve heard of save like two (Filecoin and Telegram).
- calimac 8y agoYou're spot on. These people have the power to sue beyond their jurisdiction in many cases because they have guns. This PR scheme is a tell that they are doing the bidding of the big bankers extensive war against crypto. Look at Jaime diamond and lodge blankfine
- ggggtez 8y agoThis websites was obviously created for the gullible who generally speaking, never know that they are gullible until it's too late. Consider this "defense in depth" against fraud.
- spookthesunset 8y ago> To be fair to many ICOs they don't make most of these claims. "Many" == 99%. There are no non-scam ICO's.... even the ones that aren't intentionally run as scams are, ultimately, scams. ICO's don't invest in a company, they "invest" in a brand new "currency" that somehow magically reflects the value of the "company" that created them. Why anybody would buy into this is beyond me...
- sanxiyn 8y agoThere are security token ICOs which are not utility token ICOs.
- spookthesunset 8y ago> There are security token ICOs which are not utility token ICOs. Ah so securities fraud instead of just plan vanilla fraud?
- sanxiyn 8y agoIt depends on jurisdiction, but yes, as I understand unregistered security offering is illegal in US.
- spookthesunset 8y agoIt’s illegal in every country with a developed system of securities law for a good reason. All ICO’s are scams. Period.