The SEC Says Initial Coin Offering (ICO's) Must Register

in #ico7 years ago (edited)

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And This Ant Hill Says

You can't build any more interstates in the world. They don't like the vibrations.

ant hill.jpg
source

I was really generous with the map of influence the SEC might have. source

Cuz... An ICO has no home office, no CEO, no 1-800 number.

If it's truly decentralized, then there won't be anyone for the SEC to subpoena, indict, or charge. Kind of idiotic if you really think about it.

Somebody is out of their league.

I think the ant hill will have its way first.

I really hate posting links to news sites but here


htooms

Thanks for the read and resteem! 👍

Twitter: @at_htooms

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Glad I'm not the only one who thought the exact same thing. Unless they hunt down all the ICO investors to charge them, who would be at fault? How would they determine who to charge if the ICO wasn't "registered"? And what about the people that are going to use VPN services to run ICO out of the country?

That is indeed the brilliance of decentralization. Who are you gonna charge?

And shutting it down is even harder. Find those hosting the blockchain, that is to say, every wallet!
the ones not hosted on websites

The restrictions and surveillance in the US is sick. If you have more than 10000 $ in crypto you should declare when traveling to US.

This is honestly stupid. If I don't declare my $10,000 worth of crypto, I am arrested and the fund confiscated. I guess they really could confiscated prepaid cards. But how would they get my crypto? How would they obtain my private key though?

They can't charge you for buying an unregistered security, only for selling them

The land of the free just keeps taking away and taking away.

I know. I moved out many years ago. I still love my country, but last I heard it has dropped 11 more places on the list of countries with the most freedom. Sad.

I disagree, without the US the world will have lot more criminals who are not scared of the law. The btc-e shutdown is a good example. No one has the balls to shut down criminal enterprises like the us justice system does. The SEC has a goal to protect US investors. This is a much needed check to prevent all the dumb alt coins and ICOs raise a ton of money without a product

Lol... the U.S. protects investors????
Lies...
The U.S. protects the big rich investors, but anyone like you or me they feed to the sharks.
My last post completly identifies this...
Look at [Drys] on nasdaq, the U.S. doesnt give a shit...

just check who all preet bharara prosecuted b4 he was shunted.
when u have cyber criminals all around with no recourse u will be the first to plead for regulation. why do folks still use banking, upto 100k protected by fdic

Damm i really have no idea what all this is , but the ants are cool :)

If you understand the ant's chances of requesting no more construction, then you got it.

The government thinks they can control bitcoin and other digital coins.

and they can't

Sure they cannot because the people wont back up this . Every government needs the people on end :)

Maybe they manage to control in some way Bitcoin , with all segwit (AXA behind the scenes) because we can consider as modern terrorists ! But hey we can jump on any other coin right ? ;) Sorry for jumping in to your reply @patelincho , just saying my thought about it

We had a near escape with the ETF thing. They can't control Bitcoin, but if the ETF were approved, they could have manipulated the price by selling more bitcoins than exist or buying more than exist. Like with gold and silver.

Fingers crossed to fail again at the next attempted , or bail us out first at freaking nice price !! Please?! ^^t

Sounds like they feel threatened..

Yay-yuh!

I also heard the IMF is moving its HQ to China (or something like that ). The thrills of losing world reserves status. Threats everywhere!

Lol, I am curious as to how that will play out.

Government always wanna take part in everything. 😂

What they will stop them for delivering a bad product ? and price dump actually ?? They still will be registered but they can failed anytime !
From the other hand they will have someone to blame , prosecute but the money from the investors will be gone ! Am i right ?

They can only mess with the companies that deal in changing FIAT (paper) into digital currencies. They can't hurt the true digital currencies.

I'm a big fan of ICO's, so I'm really curious what future will bring to us. I hope we will see many interesting projects and government will not interfere. I strongly believe in decentralized future of business.

I love new ideas and projects! The problem is that have not been able to play the ICO game well. As an investor primarily, I stay away. But, I do love reading and studying the innovation aspects of the ones I find interesting.

I'm a similar personality and I've found it best to partner up with people with different skillsets.

I agree with you, @htooms! I am following you!

And then again ! Lets say ICO gets register under the name of the DEV team etc ! This will stop ICO's dramas ? i don't really think so.. ICO's was always high risk investment and i think they will remain the same way !

I agree that there are a lot of ICOs out there - ads for them everywhere. I hate that!

I never participate in them. I only invest in coins with at least six months of history - even then with caution.

But another comparison is all the spam that came with email when it got popular. Where was the SEC then? (or its equivalent)

I will totally agree with you !
Its been a while since my last ICO purchases STRAT, ANS , ICN and prior to that was ETH !
Was i profitable ? heck yeah ! But what i didn't like in the whole idea was my money where trapped for a long time, I could even bought more during alts winter time for a much better price, but you can't have it all right ?!

My point is i never touch ICO's i see on ad's especially on FB & thru mail ad's !

SEC is remember to take action when a ICO drama is taking place.. and ofc seeking for another reason to try to regulate the cryptoland ..!

Thanks for the recent support. Glad you are writing from time to time.

Would you post your opinion on upcoming fork and the future of BTC? Quite a lot of people are confused about it.

Ah! I don't own enough Bitcoins to be pulling out my hair. I have 30 in an old old wallet (I think). But it's stored cold and I have my private key is secure. Worst case, I end up with 60 Bitcoins at the time of the fork.

If I have any on my phone, I will cash those out into Dash which is where most of my coins went in December '16 when Bitcoin stopped working. I am glad Bitcoin almost useful again, but the arguments and drama were too much for me.

I think I've read you mentioning you like your transactions cleared in 5 minutes or less :) Dash is obvious choice. I have some litecoin because @kingscrown likes it a lot. Do you think it has a future? I am still kind of new in crypto.

I stored very little in Mycelium because I've heard you have your keys there. What I'm confused about is how to make two coins out of this one. If I transfer to BCC Cash wallet don't I lose BTC in this one as well?

Thanks for the clear reply!

LTC is a copy paste of BTC - it's solid as long as people keep mining it.

If a fork occurs, you will have double the coins. Anything pre-fork doubles (as long as you hold your private keys). With Ethereum, as an example, people with 100 suddenly had 200 (100 of each) but the value of Eth and Etc diverged quite a bit. Forks are anything but stable. Also, buying and selling hours or even days after a fork is not recommended due to network instability.

Some exchanges have promised to supply your balance on both coins, but web sites are not algorithms

keeps taking away and taking away.

Makes you wonder if this is really going to curb the number of ICOs and investors.

This comment has received a 2.00 % upvote from @lovejuice thanks to: @theabsolute. They have officially sprayed their dank amps all over your post rewards. GOOD TIMES! Vote for Aggroed!

Hah, great comparison! Here's another one: the SEC is like a man trying to plug holes in a dam with his fingers. There's only so much they can do to hold back the flood of decentralization...

I'm so glad I got out of the US years ago and moved to Japan, which is a pretty crypto friendly place. Thinking I might give up my citizenship altogether someday if my crypto investments ever make it big.

If the SEC persists in being silly, I predict a lot more Americans will be introducing themselves to the wonders of VPNs. Time to go buy some more Mysterium tokens while they're cheap...

Everywhere is crypto-friendly as long as you are not broadcasting that you're holding. I use anonymous names and millions of email accounts because the things I do now will someday be illegal.

My attitude is this. I don't use your funny munny any longer. Therefore, you cannot tax me on it.

The last time I sold Dash for dollars, I met the guy at my gold dealer's place, I never touched the greenbacks, never counted them, and I never accepted them. I waited for the counting to be done and Claudio handed me my kilo of gold.

That's a sensible attitude, I like the way you think. I also try to remain as anonymous as possible and never discuss crypto at work or with friends where snooping ears may hear.

Unfortunately the weak point is the entry / exit to the fiat world. It's not really possible to live on crypto yet. To pay the bills you have to exchange to a national currency at some point. And then you run into KYC processes. I don't mind KYC so much, but what really bugs me is when KYC is used to specifically exclude US citizens.

ICONOMI is a case in point. I invested in ICNX when it was still in beta. But now that it's officially open to the public, you have to show your passport and do a video interview for ID verification. And of course they won't allow citizens of Iran, North Korea, or the United States to participate. Luckily my wife is not an American, so I can have her do the verification and just say the account is in her name if anybody asks.

Interstate
Many people think like that
And give up

One great thing about ICOs is that governments can't actually reach them. The internet is too free and international!
What's the best upcoming ICO and why?

onG.social ICO is the best one in my opinion and for a variety of reasons. 1. It has thousands of users before its ICO 2. It is backed by IBM and 3. There is no censorship. Just awesme!

I.T.O. "Graft Polymer" ))
Everything you always wanted to know about TOKEN, but were afraid to ask
https://steemit.com/ico/@gozdy/everything-you-always-wanted-to-know-about-token-but-were-afraid-to-ask

Stox.com is an ICO Floyd Mayweather is promoting. Another one is ONG social ICO scheduled mid Aug. Looks good to me. Please invest after ur research don't go by what I say as ICO is risky

The government really want to control everything. Not good.

greedy little buggers, want to have their hands on all the pies. when will they just learn to let people be happy and free!

Great blog post!! upvoted

They just want to get their hands on everything !!!
Who going to let them ???
=]

Your follower :), and i like your posts. i see you also vote up ? @ronaldmcatee

No. I had not upvoted ronald.

I have the same hatred of posting news sites.

But in my own news, found a copper cup at an estate sale:
IMG_1087-01.jpeg

Bet it's hard to grab that one when it's filled with hot coffee.

I buy anything solid silver - can't find anything though. hehe

You'd win that bet, ha, which is why I'm just drinking cold water out of it ;)

Another great post from you. Thanks for the valuable information about crpto world. It is very important news for the users like me. Please give a look on my post too if you don't mind and have time. Have a great day friend.

Absolutely right i have the same opinions. thanks to convey the message to the crypto world through great Steemit platform.

For me it seems like the big guys in the Top of the Banking System are starting to worry about Cryptocurrencies a little these day. That's maybe the reason why they are throwing some warnings, but no real details or big actions yet...

The final death throes of those that rule by force is gonna be ugly, if you ask me.

Agreed. You have me thinking of all the last ditch efforts of every actor who dies on film. Yes, usually the last violent moments of life (even that of an economic system) are desperate and thrashing.

All hail the interwebz!!

Seems like they have not yet grasped what decentralisation means.

Or that the world exists outside of North America.

Love it. You know, 85% or more of our law makers don't grasp the concept of "working a job" let alone something new like freedom in the use of money that is not printed by them.

My opinion about ants is...

I love the way their work i.e. they co-operate to make nest .....

But

I also hate him because they make a nest in my home .... especially in the parts of the wood and it makes it broken slowly. ...

Well there ain't such thing as free lunch is this world. Now everything needs registration and some fees. Why should an ICO be an exception? @htooms

That's one way to look at it. It is not really a matter of 'Should'. Rather 'Can'.

They can't regulate it because I have never seen an algorithm go to jail or be fined. They have their token examples like Charlie Shrem to scare and intimidate the masses. But, they can't jail everyone no more than they can count the bubbles in bottle of Coke.

This post has received a 14.83 % upvote from @booster thanks to: @htooms.

Hi steemit friend, very good !!!!!
You would help me with a vote in my post., Thanks !!! ;)

Follow me @princessexi

ayo kita berkarya dan sukses bersama. jangan lupa bahagia @princessexi