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HoweyCoins – An educational tool to alert investors to possible fraud

howeycoins.com

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Re: HoweyCoins – An educational tool to alert investors to possible fraud

#81

Post by wdewind »

Alex3917 wrote: post #52
dane-pgp wrote: post #44

Earlier quoted context omitted.

> Under the Howey Test, a transaction is an investment contract if: > 1. It is an investment of money > 2. There is an expectation of profits from the investment > 3. The investment of money is in a common enterprise > 4. Any profit comes from the efforts of a promoter or third party I don't know if the crypto-currency community have a widely accepted view of how this applies to specific currencies, but I feel that "…

Most people in the crypto community know that the majority of ICOs are illegal securities offerings. And by ‘in the community’ I mean people who run funds and regularly go to industry events with other fund managers, not people subscribed to random crypto subreddits. People in the industry generally know who is dirty and likely to get indicted.

What are some examples of ICOs that are not illegal securities offerings?

Re: HoweyCoins – An educational tool to alert investors to possible fraud

#83

Post by phs318u »

nikanj wrote: post #72
Alex3917 wrote: post #52

Earlier quoted context omitted.

Most people in the crypto community know that the majority of ICOs are illegal securities offerings. And by ‘in the community’ I mean people who run funds and regularly go to industry events with other fund managers, not people subscribed to random crypto subreddits. People in the industry generally know who is dirty and likely to get indicted.

The crazy thing is, their marks see this as validation. “The SEC warns about them, because they will revolutionize banking”

I read this and thought of the line about the universe creating bigger and better idiots. It seems to me that these scams are literally transmuting the seemingly limitless font of human greed into an evolutionary pressure that produces more gullible rubes.

I find it ironic that in a world where we've never ever had more information at our fingertips, that "investors" should be so ignorant of (recent!) history.

Re: HoweyCoins – An educational tool to alert investors to possible fraud

#84

Post by phs318u »

snissn wrote: post #54

I just saw and clicked an ad for this ICO and it looks just like Howey Coin's site - https://icerockmining.io/en.html (I don't know whether this is a scam or not, i don't recommend investing or avoiding it, I just wanted to point out how similar the website looks to the howeycoins website! DYOR) (Being overly neutral for its own sake here, but it seems very questionable)

I'm surprised there isn't already a DIY ICO generator on GitHub.

Re: HoweyCoins – An educational tool to alert investors to possible fraud

#85

Post by ggg9990 »

tomphoolery wrote: post #27
m52go wrote: post #5

I think it's hilarious that one of their "celebrity promoters" calls the coin a bubble right on their front page: > I’m all about HoweyCoins – this thing is going to pop at the top!

Hey now, @boxingchamp1934 has never led me astray before...

I think it’s a jab at Floyd Mayweather.

Re: HoweyCoins – An educational tool to alert investors to possible fraud

#86

Post by wyldfire »

omarforgotpwd wrote: post #82

We anticipate returns of 1% a day? How can you try and anticipate the price of a cryptocurrency. Any investor who knows what they're doing turned around and ran away when they read that line.

> Any investor who knows what they're doing

But they're not the intended audience, right?

Re: HoweyCoins – An educational tool to alert investors to possible fraud

#87

Post by ClassyJacket »

hsljekskfh wrote: post #14
ddtaylor wrote: post #11

Earlier quoted context omitted.

I met the guy who made DOGE at a conference in Portland and he was hilariously apologetic to everyone about having accidentally made (at the time) one of the most popular coins.

there’s a great npr interview with him. apparently he never owned more than $75 worth of doge at today’s value.

I made a genuine small profit mining Dogecoin back in the day. Between that and Litecoin I was able to make my two 400$ HD7970s pay for themselves, even after accounting for electricity.

Edit: Wanted to add that the success (Well, maybe not 'success', but popularity) of Dogecoin should highlight the value of making things accessible. Not everything needs to be a silly meme, but making things fun and building a community can make a huge difference.

Re: HoweyCoins – An educational tool to alert investors to possible fraud

#90

Post by munk-a »

moeadham wrote: post #31

I really want to meet the team at the SEC who put this together. The level of trolling the ICO community is incredible. Not sure if anyone else opened the white paper, but it is acutally better than most of the ICO papers I read in general. There are gems like: > "Upon a successful ICO, the nondisclosure agreements terminate and we will be able to disclose the largest network of travel partners" > "we expect a biddin…

> At launch, we will have two of the world’s largest airline alliances and a possible third signed on as HoweyCoins partners. The top three airline alliances accounted for over 60% revenue passenger miles in 2015.

Do note that the wording leaves open (and even implies) that the airline alliances they'd partner with _don't_ account for 60% of revenue passenger miles in 2015.

The PDF is a wonderful document, it also has an entirely incorrect description of how inflation works.

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