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Also the Ethereum unregistered security fraud.

• aaaaaaaaata 5y ago
  What was/is(?) fraudulent about it, from the perspective of a single citizen who invested?
  • anonporridge 5y ago
    I never said fraudulent. Just an unregistered security, which is potentially illegal because the Ethereum foundation that sold and profited off the initial premined tokens to the public without proper disclosure required of a legal security sale. The result is that we now have no idea how much insider trading actually went on in that premine sale. For example, it could be the case that most Ethereum is secretly controlled by a tiny, tightly knit cabal of people who collude to pump up the price to a false valuation. If this were true, it would be incredibly problematic with their planned transition to proof of stake, because a tiny number of people would effectively have full control over the fate of the protocol and all the money outsiders hold in ETH.
    • sincerely 5y ago
      Ok, you didn't call it fraudulent, you called it fraud - is that not a distinction without a difference?
      • anonporridge 5y ago
        Ah, I did. Apologies. I should not have conflated my personal feelings with it with the facts of its suspicious and unverifiable initial distribution.