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But how is that different than any other Initial Coin Offering?
by Gudin 6y ago
But how is that different than any other Initial Coin Offering?
- wmf 6y agoAll the other ICOs are also scams.
- vvpan 6y agoThat is a nonsensical statement. ICOs are a way to raise money. There is nothing that inherently deceitful about them. I want to be able to invest into early-stage companies and an ICO is a way.
- dannyw 6y agoIs ethereum a scam? How about MakerDAO?
- juped 6y ago- Yes - Yes
- Polylactic_acid 6y agoEssentially. All of these coins have no real world use and everyone knows it, they just think they will the ones profiting on other idiots who buy it at the end.
- ccktlmazeltov 6y agoActually, I'm really wondering how all these cryptocurrencies are legal. Algorand also started by selling its initial coins, how is that legal?
- wmf 6y agoAlmost no token sales are done legally. Ethereum's token sale wouldn't be legal if it was done today but Ethereum is so large that regulators effectively grandfathered it under the "sufficiently decentralized" doctrine.
- PeterisP 6y agoIn most cases there's no difference and the same arguments would apply also for (against) other ICOs. An ICO can be substantially different in these key aspects and in that case it could be legal, but in most cases they really are intended to be de facto investments in uncertain future profit and risk, i.e. securities. Here's a random example from two years ago https://www.sec.gov/news/press-release/2018-152 https://www.sec.gov/news/press-release/2018-152 of an ICO being shut down and penalties paid. There are more, SEC has been quite active in regulating ICOs.