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Honestly, I don't think it's going to work because a small number of people are always going to try to cheat the system and end up ruining the whole thing.
by notastartup 12y ago
Honestly, I don't think it's going to work because a small number of people are always going to try to cheat the system and end up ruining the whole thing.
- Gustomaximus 12y agoThat's pretty much every system in the world. You could say that about credit cards, tax returns, democracy, road rules, marriage... etc. They need to set up a framework that minimises opportunity for cheats and accept there is risk in everything.
- notastartup 12y agosecurity fraud is much lower and SEC is successful at enforcing cheaters. We need this level of regulation for kickstarter with equity to be successful, otherwise we are going to see innocent people getting duped easily and slip away without facing any restitution. I just don't see this happening without support from government regulatory body and without it, the result would be disastrous.