This sounds great until people realize that only qualified investors will be allowed to trade security tokens.
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Our path to listing SEC-regulated crypto securities
81–90 of 156 posts
Re: Our path to listing SEC-regulated crypto securities
#82This 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.
>we can go back to building valuable companies Like what? >with a whole new way of funding them. What's wrong with US Dollars?
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Re: Our path to listing SEC-regulated crypto securities
#83Earlier quoted context omitted.
Crypto securities don't replace the US dollars. They replace the shares you're buying when you invest in a company. You are welcome to use US dollars for that if you want. Chances are depending where the companies are based, getting the money in USD to them could be tricky though. What company people are going to build is anyone's guess, but mine is that there's going to be a lot of them. Silicon Valley is only but a…
Explain how crypto-tokens are going to enable the vast amount of rights shareholders get in a company. Can crypto holders vote on the direction of the company, compel changes in the board, etc? If not, there's no reason for them to exist, because those rights are the entire reason one buys stock.
There's no technical reason why that can't be the case. Legally, I agree.
Re: Our path to listing SEC-regulated crypto securities
#84Buying ... expanding... when they cannot reply to a support email for more than a month. This is one of the most customer unfriendly companies.
They're now, or soon to be, SEC regulated. Maybe contact them?
Re: Our path to listing SEC-regulated crypto securities
#85Earlier quoted context omitted.
Explain how crypto-tokens are going to enable the vast amount of rights shareholders get in a company. Can crypto holders vote on the direction of the company, compel changes in the board, etc? If not, there's no reason for them to exist, because those rights are the entire reason one buys stock.
There's no technical reason why that can't be the case. Legally, I agree.
My point is, for anything like a crypto-security, you have to integrate with meatspace, which requires the introduction of legal agreements (because there's nothing about 0s and 1s in ledger that can compel company representatives to act in a certain way). At that point you've completely gotten rid of decentralization, and you might as well use a more robust, faster, and environmentally friendly centralized option.
Re: Our path to listing SEC-regulated crypto securities
#86Earlier 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?
You need to know a lot of people. Connect buyers and sellers. Maybe look for a cofounder of a successful business who wants out and find a strategic VC or other firm who wants in. Should be able to understand the product and build/show the value proposition in numbers. Maybe that means looking at financials and building projections for your clients.
Re: Our path to listing SEC-regulated crypto securities
#87Earlier quoted context omitted.
That immutability is terrible feature. Type one letter wrong on your wallet address and your money is gone forever. I myself have experienced something similar when a bank teller provided me with a routing number from a chase bank in a different state then I originally set up my account. Thus, my entire direct deposit pay for a month of $6,000 went to an account set for a chase routing number in a different state. Fo…
You have something like a 1 in 4 billion chance of entering a valid bitcoin address if you made a typo, whether it's "one letter wrong" or some other combination of changes (there's a 32 bit checksum). So actually this never happens.
Does a BTC address that does not exist cause an error or does it go into oblivion until someone happens to generate a key that matches it?
Re: Our path to listing SEC-regulated crypto securities
#88If 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?
Of course not, they will just hard-fork the chain!
Which has its own problems; it's the equivalent of restoring a backup, and you lose the past x hours / days of all transactions. It's not something you want to be able to do in a blockchain intended for contracts or currency. And what happens to people that exchanged real money for BTC or in this case AAPL shares? It's like err, a double spend but without any winners.
Re: Our path to listing SEC-regulated crypto securities
#89Buying ... expanding... when they cannot reply to a support email for more than a month. This is one of the most customer unfriendly companies.
https://levelplayingfield.io/party/non-consumer-coinbase-inc
File for arbitration. You’ll win or they’ll settle.
Re: Our path to listing SEC-regulated crypto securities
#90>> This step forward is being made possible by our acquisition of a broker-dealer license (B-D), an alternative trading system license (ATS), and a registered investment advisor (RIA) license. Great sentence in the press release. My thought was that someone (obviously would be Coinbase given their massive amounts of funding) was out looking for a BD. But they went a step further with the ATS and RIA licenses. Coinbas…
I wonder what the account requirements are for a BD. Will they have to deny services to foreigners and kids?