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> For example, I used to be skeptical about accredited investor requirements. I agree that we should probably have regulations in place to protect people from
by xur17 8y ago
> For example, I used to be skeptical about accredited investor requirements.
I agree that we should probably have regulations in place to protect people from scams, but accredited investors are just people with > $1M or > $200k in income over the past 2 years. Basically a way to filter for 'wealthy' people that can afford to lose the money.
- JumpCrisscross 8y ago> a way to filter for 'wealthy' people that can afford to lose the money The part I didn't appreciate is it's also a filter for people who can hire a lawyer/adviser to conduct basic diligence. Raising $1 million in $10,000 cheques guarantees virtually zero oversight. That, much more than anything legitimate, has been what ICOs have enabled.