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SHX founding team member here. It's been great to read everybody's comments. I'm not going waste my time weighing in on whether we were clever hackers or bozo
by ghall 11y ago
SHX founding team member here. It's been great to read everybody's comments. I'm not going waste my time weighing in on whether we were clever hackers or bozos -- the truth, as always, lies somewhere in the middle.
I did want to share some additional facts, which will come to light when the statement of facts gets published.
(1) We had exactly 55 paying users, who had deposited $1550 and 15.6 BTC.
(2) All but 5 of these users were friends, family, or members of our accelerator.
(3) Our private beta test had been in operation for 7 weeks.
- logicallee 11y agoI'm sorry you've been given a hard time here, but with good reason. :) Securities law is really important for startups - they're the thing that enables your accelerator to exist, they allow you to exist and raise money and have protected investors for the next thing you do. So a lot of people here care a lot about it. Keeping it fun is one thing, but moving into monetization with fake trading histories - well, clearly you've learned that's another. Good luck with your next project.
- zyxley 11y ago> the truth, as always, lies somewhere in the middle. Not really, in this case. Securities laws aren't the kind of thing you up and ignore just because you feel like it.
- srdev 11y ago> I'm not going waste my time weighing in on whether we were clever hackers or bozos -- the truth, as always, lies somewhere in the middle. No, it doesn't always. The truth is not in the middle here; you guys were being breathtakingly clueless. Trying to pass it off as cleverness is just self-delusion, and none of the excuses your team has written are justifiable. You should probably do some honest introspection before taking your next pass on starting up a business. Not doing so is a disservice to yourself.