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Is the technology a scam? You say no. Is the ICO a scam? Yes, it wasn't legal. "This filing makes it appear that Kik was attempting to scam investors." Yes
by VikingCoder 7y ago
Is the technology a scam? You say no.
Is the ICO a scam? Yes, it wasn't legal.
"This filing makes it appear that Kik was attempting to scam investors."
Yes. They were. They pretended their ICO wasn't going to break securities law.
- brianhama 7y agoIn hindsight that seems to be the case, but in 2017 at the time of the ICO, the laws and how the SEC would interpret them was much more uncertain. They clearly decided to take a huge risk and it backfired. I’m not saying that it’s a risk I would have ever taken myself though.
- badfrog 7y ago> Is the ICO a scam? Yes, it wasn't legal. Not everything that's illegal is a scam. If somebody sells me cocaine and I'm happy with the product, it's illegal but nobody was scammed.
- VikingCoder 7y agoYes, that's true. However, many securities laws exist to protect investors. So, if you knowingly violate securities laws, there's a pretty good chance you are knowingly putting investors in a disadvantageous position. That's a textbook definition of a scam.
- neokantian 7y ago> Yes, it wasn't legal. Legal or illegal according to the laws in what jurisdiction? As international users, we obviously benefit from decisively reining in any American attempt at extraterritorial expansion. That is why, for example, we support the interdiction of American warships in the Black Sea (Russia) and the South Chinese Sea (China). I am waiting for the good news that either of these countries has finally sunk one of these vessels. That will be party time!