Readit Newsfowlerpower commented on Common Misconceptions about ICO Law stellar.org/blog/3-common... · Posted by u/omarchowdhury
Look the ICO space is way too young for all the judgment people are passing on here. The SEC clearly wants to let this play out. No one has gone to jail yet.
The government has already started to relax the ability for non accredited investors to invest in startups and that was under the last administration. These rules are recent but they are there, they are very limited though and ICOs blow the top off of those rules.
ICOs are forcing the SECs hand and I think it show cases the interest that exist in the public to get into these early stage startups. I won't be surprised if the rules are relaxed even further to legalize these types of coins even if they are considered securities, especially under this administration.
Everyone is saying that you are limiting yourself by offering an ICO. You are giving away zero equity for the promise that your product and service will offer these people something in most cases, that is just like a kickstarter. Furthermore, nothing stops you from raising money after the ICO.
Anyway, this is a fantastic new vehicle for startups and I believe it will absolutely change the game. The VCs are a little mad because they are being shut out of the best rounds, where they would normally get the most equity.
At the end of the day what matters most is if startups can start get funding and hire people and add value to the economy. That is what the SEC has to balance with the public interest on the other end.
The thing is that Google has absolutely gone down questionable path from their early days.
It is a little unfair to think this problem exists only within Google. Time and time again we are reminded why corporations will evolve to become as greedy and as protective of their turf expansive of their power and monopolistic as they can get, even if good people are running them. It is the system itself that does this, corporations evolve to survive and to thrive. That in of itself isn't a bad thing but you need checks and balances. Things like the Supreme Court saying that Corporations are people or all the money pouring into our political process those are things that have to change.
Even the best of them will eventually become the worst of them. Google is now evil for sure, no doubt about that, but there have been and there will be many others.
fowlerpower commented on What is an Initial Coin Offering and How Does it Work? fxempire.com/education/ar... · Posted by u/discombobulate
A lot of people are calling these things Scams. People arent wrong and to a certain degree they do attract the "quick buck" type to them. Keep in mind though that these are also very useful for companies to get the Digitial Currency and block chain into the hands of the masses without some of this money, which large parts of that may be burned, will yield some killer apps.
The people doing an ICO do it to raise a bunch of money, much like a kick starter campaign. The people buying an ICO buy it for a quick buck and a lot of times they end up selling these coins from the ICO for 10x, see BATs.
The allure for people starting a company is that you can raise millions and give 0% of your company away. Some people will scam, it's true maybe a lot will, but some will undoubtedly start something big and will want to do more than just scam.
fowlerpower commented on Tesla Fairy Tale Is About to Become a Horror Story seekingalpha.com/article/... · Posted by u/uladzislau
Just FYI, Seeking Alpha is a forum for many investors with short positions on Tesla. They have been predicting Tesla's demise for a decade.
Tesla ain't going nowhere. A lot of people are missing the point as to why the stock is so high.
It's so high because it's the future, not because of current sales. If it's the future then the argument needs to be a little different if your hoping to convince people to dump it.
Everyone working on JavaScript right now lives in a bubble. Take a look at how back end languages have evolved and that's your future, you can try to deny it but your going to go the way C did and Java did. You can cite openness and the web and all these other things that make some kind of sense but history is against you.
In reality those arguments don't hold water. In reality our field is 30 years+ old and there is some maturity in the way things are done. All this crazy shit of rewrite everything all the time will just eventually tire people out and people will cut this redo an entire framework just because out.
JavaScript is one of the most important languages around right now and pretty soon the adults are going to be taking it away from the kids. Just as an FYI, this is another example of that. Too many important decisions are happening without much thought about what's there already.
I don't know maybe I'm wrong and maybe this time will be different but I've been around long enough. I learned the ins and outs of angular only to be told "fuck that" shortly after. It all seems very wrong too me but maybe you can tell me otherwise?
Ponzi schemes are forcing the SEC's hand, and I think it showcases the interest that exists in the public to get into these early stage pyramid schemes.
The fact that the public is interested in something doesn't make the SEC say "oh, ok, that's fine then". The SEC's job isn't to get out of the way of the public. The SEC's job is to get in the public's way, in order to protect the public from scams -- which means the more public interest there is in something, the closer the SEC will be looking at it.
You are incorrectly saying that ICOs are a Ponzi scheme. When they are in fact too new to be labeled as anything. If they were in fact all Ponzi Schemes then people would already be in jail.
Secondly the SEC is there to balance both sides of the equation. Companies interests and the public dumping money into scams.