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The SEC can and does provide candid advice. I know entrepreneurs who have had lengthy calls with both state and federal SEC reps who will give straight talk. T

The SEC can and does provide candid advice. I know entrepreneurs who have had lengthy calls with both state and federal SEC reps who will give straight talk. This is not that. This is preparation to make a court case to use as precedent to attack the industry. I feel the SEC is being a bad actor - stifling innovation rather than encouraging it. Over the last 10 years the HN chattering class has dismissed crypto endlessly. I laugh all the way to the bank and its rise has been inevitable to anyone who understands software and finance. I look forward to the court case.

deleted 5y ago
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jjulius 5y ago
>I laugh all the way to the bank... Cool.
yunohn 5y ago
> I laugh all the way to the bank… You ran an ICO that settled with the SEC. I’m not clear on what value you offered to the public, or how you justify “making bank”?
- chitowneats 5y ago
  Presumably he's referring to the bitcoin price.
- wonnage 5y ago
  s/ICO/exit scam
- pavlov 5y ago
  It’s incredible. This guy sold $15M USD of worthless tokens to the public. Investors lost their money. Instead of feeling ashamed, he’s proud of having settled the case out of court and “laughed all the way to the bank”. Crypto ethics are truly well hidden.
  - seibelj 5y ago
    No admission of wrongdoing, all money returned to investors, and IMO we didn't do anything wrong despite the SEC's opinion. I laugh to the bank because I've been in crypto for a decade!
    - pavlov 5y ago
      Well, I stand corrected. You returned the money because you got caught. How upstanding. Your crypto schemes are just boiler room scams dressed up in CS jargon.
    - jjulius 5y ago
      >I laugh to the bank... Because it's money that counts above all else, right? Edit: It seems like your former company has still been operating in a shady manner since your departure [1], making it that much harder for me to take anything you say in good faith. [1] https://medium.com/@svenema/sec-powerless-against-crypto-rug-pull-airfox-kills-registered-security-token-68f21cafeb79 https://medium.com/@svenema/sec-powerless-against-crypto-rug...
      - seibelj 5y ago
        I have not worked there for several years, and ownership is now Brazilian, no idea what they are doing now.
        jjulius 5y ago
        Hence my use of the phrase, "former employer". I'm simply observing a pattern at your former employer, whose co-founder remained there through June of this year; a pattern which makes it hard for me to believe that it was acting in good faith during your time there.
    - yunohn 5y ago
      > No admission of wrongdoing (…) IMO we didn't do anything wrong despite the SEC's opinion No admission of wrongdoing is always a red flag, implying there was definite wrongdoing. It’s good that your opinion matters less than the SEC’s “opinion”. Atleast your investors got their money back, I guess…
encryptluks2 5y ago
I personally look forward to the SEC handing it to Coinbase hard. After having Coinbase ignore multiple support requests for over 3 months where they weren't giving me my staking rewards, I can only assume they decided to just up and keep them for themselves. Coinbase will always be considered a joke to me when they can't even respond to their customers.

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jjulius 5y ago

>I laugh all the way to the bank... Cool.

yunohn 5y ago

> I laugh all the way to the bank… You ran an ICO that settled with the SEC. I’m not clear on what value you offered to the public, or how you justify “making bank”?

chitowneats 5y ago
Presumably he's referring to the bitcoin price.
wonnage 5y ago
s/ICO/exit scam
pavlov 5y ago
It’s incredible. This guy sold $15M USD of worthless tokens to the public. Investors lost their money. Instead of feeling ashamed, he’s proud of having settled the case out of court and “laughed all the way to the bank”. Crypto ethics are truly well hidden.
- seibelj 5y ago
  No admission of wrongdoing, all money returned to investors, and IMO we didn't do anything wrong despite the SEC's opinion. I laugh to the bank because I've been in crypto for a decade!
  - pavlov 5y ago
    Well, I stand corrected. You returned the money because you got caught. How upstanding. Your crypto schemes are just boiler room scams dressed up in CS jargon.
  - jjulius 5y ago
    >I laugh to the bank... Because it's money that counts above all else, right? Edit: It seems like your former company has still been operating in a shady manner since your departure [1], making it that much harder for me to take anything you say in good faith. [1] https://medium.com/@svenema/sec-powerless-against-crypto-rug-pull-airfox-kills-registered-security-token-68f21cafeb79 https://medium.com/@svenema/sec-powerless-against-crypto-rug...
    - seibelj 5y ago
      I have not worked there for several years, and ownership is now Brazilian, no idea what they are doing now.
      - jjulius 5y ago
        Hence my use of the phrase, "former employer". I'm simply observing a pattern at your former employer, whose co-founder remained there through June of this year; a pattern which makes it hard for me to believe that it was acting in good faith during your time there.
  - yunohn 5y ago
    > No admission of wrongdoing (…) IMO we didn't do anything wrong despite the SEC's opinion No admission of wrongdoing is always a red flag, implying there was definite wrongdoing. It’s good that your opinion matters less than the SEC’s “opinion”. Atleast your investors got their money back, I guess…

encryptluks2 5y ago

I personally look forward to the SEC handing it to Coinbase hard. After having Coinbase ignore multiple support requests for over 3 months where they weren't giving me my staking rewards, I can only assume they decided to just up and keep them for themselves. Coinbase will always be considered a joke to me when they can't even respond to their customers.