Earlier quoted context omitted.
Binance made more money than Deutsche Bank last year. They funded growth with an ICO. > What's wrong with US Dollars? It's not a good store of value over the long haul: https://visual.ly/community/infographic/economy/purchasing-p...
They made more profit than deutsche bank? Do you have a source?
Our path to listing SEC-regulated crypto securities
31–40 of 156 posts
Re: Our path to listing SEC-regulated crypto securities
#32This sounds great until people realize that only qualified investors will be allowed to trade security tokens.
Komodo and a few other decentralized exchanges break this issue pretty easily.
Same reason privacy coins cannot be shut down.
Re: Our path to listing SEC-regulated crypto securities
#33Earlier quoted context omitted.
Binance made more money than Deutsche Bank last year. They funded growth with an ICO. > What's wrong with US Dollars? It's not a good store of value over the long haul: https://visual.ly/community/infographic/economy/purchasing-p...
>”It's not a good store of value over the long haul” Well sure, but no one is storing their wealth in USD. You use it to purchase assets. What store of value can you purchase with BTC without first converting to USD? >”Binance made more money than Deutsche Bank last year. They funded growth with an ICO.” Concentrated more wealth, you mean. What, exactly, did they contribute to the economy? At the very least, banks pr…
No one stores their wealth in USD because it's not a good store of value.
> What store of value can you purchase with BTC without first converting to USD?
Switching out to gold from BTC is pretty painless.
Re: Our path to listing SEC-regulated crypto securities
#34This a great step in the right direction for the post-ICO-craze phase. Once we are over the bullshit utility tokens we can go back to building valuable companies with a whole new way of funding them.
My plan to sidestep these regulations is to take an existing cheap chain and launch a product on it, without consent or communication with stakeholders. I will buy a large percentage of the chain before doing this, of course.
Maybe plug it into zrx so the conversion is automatic for the end user.
Just another launch cost and I can avoid the SEC entirely.
Re: Our path to listing SEC-regulated crypto securities
#35> If approved, Coinbase will soon be capable of offering blockchain-based securities, under the oversight of the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA). This step forward is being made possible by our acquisition of a broker-dealer license, an alternative trading system license (ATS), and a registered investment advisor (RIA) license. > ... > This is all be…
This is relatively standard practice in the broker-dealer space. (It’s how I started my first company.)
Interesting.
Slight off-topic looking at your profile, it says "Trade private equity stakes in technology companies". Curious how does that work?
Re: Our path to listing SEC-regulated crypto securities
#36Earlier quoted context omitted.
It requires fiat banking less than you might think, depending on what you are doing and what jurisdiction you are in. I am in Argentina. I don't personally do it, but I know a lot of people that live on cryptocurrency salaries (not "crypto gains" but actual money paid to them periodically in a cryptocurrency). I find your last statement extremely unlikely. I think Ethereum has a pretty solid utility story (and I'm de…
You need fiat banking to cash in and cash out. You are at the mercy of the fiat banking stakeholders. You can create any crypto currency but if nobody can buy it with cash or sell it for cash, it's worthless. SEC has already announced they are looking at Ethereum as security, insiders have already sold according to rumours, because they are being targeted by the SEC- Turns out if you sell tokens with expectation of i…
> SEC has already announced they are looking at Ethereum as security,
Got a cite?
Re: Our path to listing SEC-regulated crypto securities
#37This a great step in the right direction for the post-ICO-craze phase. Once we are over the bullshit utility tokens we can go back to building valuable companies with a whole new way of funding them.
My plan to sidestep these regulations is to take an existing cheap chain and launch a product on it, without consent or communication with stakeholders. I will buy a large percentage of the chain before doing this, of course. Maybe plug it into zrx so the conversion is automatic for the end user. Just another launch cost and I can avoid the SEC entirely.
But then you don't get any funding? Unless you pump the coin in which case the SEC will still be coming.
Re: Our path to listing SEC-regulated crypto securities
#38If all of AAPL stock is tokenized, and someone hacks a custodian of say 30% of AAPL, is the hacker now owner of 30% of AAPL?
The hacker would suddenly discover the various international justice systems. The tokens would be tainted, unspendable, and worthless. A wild guess at the potential reward for unmasking the hacker? ($950B * 0.3 * 0.001 --> ~300 M USD). After the first such hack, companies might add a clause to the bylaws enabling the company to re-issue stock to the aggrieved party, restoring balance to the universe.
> The tokens would be tainted, unspendable, and worthless.
No they wouldn't because the whole "decentralized system" makes it so you have to get EVERYONE to agree to blacklist those tokens BEFORE THEY ARE TRADED or else it fails because the hacker can tumble those tokens across dozens of different cryptocurrencies on every exchange across thousands of accounts. You will never be able to hard fork every cryptocurrency for 1 mistake.
The only hack that I have ever heard of that was successfully reversed was the DOA and that was because they had 30 days to work out a hard fork on 1 wallet!
Cryptocurrencies are good for one thing only and that is blackhats.
Re: Our path to listing SEC-regulated crypto securities
#39Earlier quoted context omitted.
This is relatively standard practice in the broker-dealer space. (It’s how I started my first company.)
Interesting. Slight off-topic looking at your profile, it says "Trade private equity stakes in technology companies". Curious how does that work?
What is your e-mail address?
Re: Our path to listing SEC-regulated crypto securities
#40Earlier quoted context omitted.
My plan to sidestep these regulations is to take an existing cheap chain and launch a product on it, without consent or communication with stakeholders. I will buy a large percentage of the chain before doing this, of course. Maybe plug it into zrx so the conversion is automatic for the end user. Just another launch cost and I can avoid the SEC entirely.
But then you don't get any funding? Unless you pump the coin in which case the SEC will still be coming.
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