"PlexCoin" also seems like a name likely to run into trademark issues with the makers of the media management/DVR software Plex (plex.tv).
I would think EVE Online would have a much stronger case. They already have a digital currency called PLEX.
SEC Emergency Action Halts PlexCoin ICO
71–80 of 142 posts
Re: SEC Emergency Action Halts PlexCoin ICO
#72Earlier quoted context omitted.
Ah yes, how dare we poke and prod at the validity of current governmental systems and regulations. That feudal era was such great times, if we had only not gone against the merits of the government of the day./s There is little doubt that many ICO's are 'scams', and some people will get hurt financially because of it. The challenge with regulations is, it's easy to quantify the harm they try to stop, but it's harder…
There's no perfect system, but what we have right now is better than anything from the past, and it's only getting better. Anyway, I think under-regulation is worse than over-regulation.
Totally disagree. We have to encourage as many experiments as we reasonably can to continue to advance / solve some of the big problems we are currently facing.
Over regulation limits innovation. We should only look to regulate when there is obvious and catastrophic harm. We can regulate after the fact, once we better understand the emerging system and the impacts it has. If potential harm is big, then it makes sense to regulate first.
The cost of regulation is harder to see then the benefits, but there is a cost.
Not to mention, do you not believe individuals have agency in this world? Why should you decide what I do with my money (assuming it harms no one)?
Re: SEC Emergency Action Halts PlexCoin ICO
#73All ICOs should be banned! When you see all these scams around, you start appreciating regulation, law, and order more! I am not sure why so many engineers today are into anarchy when it's entirely against the basis of computer science and engineering in general! I get the idea about the distributed systems for higher resilience, but going against the merits of states and governments is just childish!
Banning ICOs would, quite literally, be impossible.
This is a great point. China's attempt is a great example. They can shut down exchanges, but Wechat channels pop up offering escrow type services, and boom, the market is back in business.
Re: SEC Emergency Action Halts PlexCoin ICO
#74Earlier quoted context omitted.
Just because something is a good idea doesn't mean that it wasn't conceived or promoted specifically to scam people out of their money. Not speaking to Filecoin or Tezos specifically, but if something is a really good idea, why not take VC money or bootstrap it?
Many reasons. Here's a couple I can think of off the top of my head: 1) VC money comes with strings, and founders don't like to have the sword of Damocles hanging over their heads. (Although I think those founders are misguided, as I think most companies benefit from oversight). 2) ICO money is cheaper and plentiful. If it's available, why not take it? This is especially problematic when you have multiple companies p…
Totally agree. The liquidity that ICO's bring to founding teams is a huge plus. It's going to better incentivize smart people to work on big, interesting projects. And get paid well to do so.
Re: SEC Emergency Action Halts PlexCoin ICO
#75Earlier quoted context omitted.
I tend to agree. Every ICO page mainly struggles with number 3. I never get what they are selling, probably because they're not selling anything other than the idea of buying in to their ICO. Let's take a (somewhat snarky and definitely superficial) look at a few of the "top gainers" & market cap from https://coinmarketcap.com/gainers-losers/ (as of Dec 2nd) Gainers: 1. Petrodollar.. Website isn't even an owned domai…
Tether is not an ICO and quite clear what it does. It is supposed to be a token that pegged to USD to facilitate the moving of USD via the blockchain instead of having to bother with the pain and fees of banks. Its market cap rises as more USD is deposited into their banks.
Sadly there is a lot of red flags indicating that this is not the case, they haven't had banking since April so there are no way to deposit funds to them for regular users at least.
Also, one employee from Bitfinex suggested on reddit that Tether is funded by crypto deposit to them and not USD...
Re: SEC Emergency Action Halts PlexCoin ICO
#76All ICOs should be banned! When you see all these scams around, you start appreciating regulation, law, and order more! I am not sure why so many engineers today are into anarchy when it's entirely against the basis of computer science and engineering in general! I get the idea about the distributed systems for higher resilience, but going against the merits of states and governments is just childish!
Banning ICOs would, quite literally, be impossible.
It's impossible to ban narcotics as well, but they are still persecuted.
Re: SEC Emergency Action Halts PlexCoin ICO
#77"PlexCoin" also seems like a name likely to run into trademark issues with the makers of the media management/DVR software Plex (plex.tv).
That's not really how trademark works. It is only similar/same industries where that applies. The rule of thumb is consumer confusion. Is an average person going to mix up the 2? In this case, the answer is likely No.
> Is an average person going to mix up the 2?
Isn't the standard "a moron in a hurry"?
Re: SEC Emergency Action Halts PlexCoin ICO
#78All ICOs should be banned! When you see all these scams around, you start appreciating regulation, law, and order more! I am not sure why so many engineers today are into anarchy when it's entirely against the basis of computer science and engineering in general! I get the idea about the distributed systems for higher resilience, but going against the merits of states and governments is just childish!
>I am not sure why so many engineers today are into anarchy when it's entirely against the basis of computer science and engineering in general! Huh? The history of computer science and engineering is rich with anarchy, individual projects, and unstructured contributions to the field. It might be one of its best examples.
Hierarchy and separation of concerns are major engineering strategies.
Re: SEC Emergency Action Halts PlexCoin ICO
#79I'd be fascinated to see a documentary that followed the launch of an ICO just to see what sort of headspace they're in.
Re: SEC Emergency Action Halts PlexCoin ICO
#80> [The SEC] obtained an emergency asset freeze to halt a fast-moving Initial Coin Offering (ICO) fraud that raised up to $15 million from thousands of investors since August by falsely promising a 13-fold profit in less than a month. To me, the PlexCoin homepage [1] is indistinguishable from all the other ICO homepages I've seen. - bootstrap homepage: check - beautiful graphics with actors and coins: check - unclear…
I tend to agree. Every ICO page mainly struggles with number 3. I never get what they are selling, probably because they're not selling anything other than the idea of buying in to their ICO. Let's take a (somewhat snarky and definitely superficial) look at a few of the "top gainers" & market cap from https://coinmarketcap.com/gainers-losers/ (as of Dec 2nd) Gainers: 1. Petrodollar.. Website isn't even an owned domai…
To be fair about EOS, there is a technical whitepaper, very active github, and a development blog.
https://github.com/EOSIO/Documentation/blob/master/Technical...
https://steemit.com/eos/@eosio/eos-io-dawn-2-0-released-and-...
The test network just went live.