Our path to listing SEC-regulated crypto securities • Hacker News Board

Re: Our path to listing SEC-regulated crypto securities

#131

Post by mkirklions » Thu, Jun 07, 2018, 5:13 PM UTC

s73v3r_ wrote: post #123

mkirklions wrote: post #104

Earlier quoted context omitted.

>What's wrong with US Dollars? Its controlled by the Federal Reserve which is partly controlled by the government. Basically your USD is worth what the central bank says they are worth. A new war? Your dollar loses value. Out of control debt? Print more money. Bitcoin has 21,000,000 solutions ever ever ever.

And that doesn't mean a thing for the value of an individual Bitcoin. Just like the USD, it's worth something because people say it's worth something.

The quantity is the big deal.

Tomorrow there will be more USD than yesterday. This isnt true for BTC.

Re: Our path to listing SEC-regulated crypto securities

#132

Post by s73v3r_ » Thu, Jun 07, 2018, 5:16 PM UTC

dmurray wrote: post #62

mrep wrote: post #57

Earlier 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.

So the money goes into oblivion. In the meantime, I'm still out my month's pay, and I can't get it back.

Re: Our path to listing SEC-regulated crypto securities

#133

Post by s73v3r_ » Thu, Jun 07, 2018, 5:18 PM UTC

mkirklions wrote: post #131

s73v3r_ wrote: post #123

Earlier quoted context omitted.

And that doesn't mean a thing for the value of an individual Bitcoin. Just like the USD, it's worth something because people say it's worth something.

The quantity is the big deal. Tomorrow there will be more USD than yesterday. This isnt true for BTC.

Considering BTC is infinitely divisible, that doesn't matter.

Re: Our path to listing SEC-regulated crypto securities

#134

Post by hyprCoin » Thu, Jun 07, 2018, 5:55 PM UTC

atomical wrote: post #42

hyprCoin wrote: post #32

Earlier quoted context omitted.

Komodo and a few other decentralized exchanges break this issue pretty easily. Same reason privacy coins cannot be shut down.

That's incorrect. Tokens can prevent their transfer to parties that don't have the proper KYC. The smart contract decides that.

That's a cool point. I wonder what can be done to bypass such a restriction? Maybe if you had a contract like WETH that wrapped accredited-only tokens in a proxy token.

Re: Our path to listing SEC-regulated crypto securities

#135

Post by newguynewguy » Thu, Jun 07, 2018, 6:19 PM UTC

JumpCrisscross wrote: post #39

thisisit wrote: post #35

Earlier quoted context omitted.

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?

seantommurray@gmail.com

Re: Our path to listing SEC-regulated crypto securities

#136

Post by gomox » Thu, Jun 07, 2018, 6:44 PM UTC

s73v3r_ wrote: post #124

gomox wrote: post #98

Earlier quoted context omitted.

Most ICOs don't sell security tokens. They sell utility tokens. But many ICOs have happened that sold security tokens, they just tend to be more discreet these days because of the limits on public security offerings. The security token space is also very immature still. On the other end of the discreetness spectrum, The DAO was a security ICO and it was the largest crowdsourced project in history at the time.

They also tended to be the, "We have all the money, now let's bail" kind of tokens.

Really? Can you point to a single security token issuance that was an exit scam?

Re: Our path to listing SEC-regulated crypto securities

#137

Post by gomox » Thu, Jun 07, 2018, 6:45 PM UTC

s73v3r_ wrote: post #119

gomox wrote: post #7

Earlier 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…

Why would I want a crypto token instead of shares, though? With shares, I have ownership in the company, and I have a number of rights. With a token, I have precisely squat.

See my replies to the other 2 comments adjacent to yours.

Re: Our path to listing SEC-regulated crypto securities

#138

Post by mkirklions » Thu, Jun 07, 2018, 6:45 PM UTC

s73v3r_ wrote: post #133

mkirklions wrote: post #131

Earlier quoted context omitted.

The quantity is the big deal. Tomorrow there will be more USD than yesterday. This isnt true for BTC.

Considering BTC is infinitely divisible, that doesn't matter.

I found spending time learning economics and marketing changed my understanding of the world.

I think it would be very beneficial for everyone(especially HN crowd) to learn this.

Your sentence isnt important.

Re: Our path to listing SEC-regulated crypto securities

#139

Post by s73v3r_ » Thu, Jun 07, 2018, 6:54 PM UTC

gomox wrote: post #136

s73v3r_ wrote: post #124

Earlier quoted context omitted.

They also tended to be the, "We have all the money, now let's bail" kind of tokens.

Really? Can you point to a single security token issuance that was an exit scam?

Are you honestly trying to say that there have not been ICO scams? That this has not happened?

https://techcrunch.com/2018/04/13/exit-scammers-run-off-with...

https://techcrunch.com/2018/04/18/another-day-another-50-mil...

https://cointelegraph.com/news/unpacking-the-5-biggest-crypt...

Do you need more?

Re: Our path to listing SEC-regulated crypto securities

#140

Post by s73v3r_ » Thu, Jun 07, 2018, 6:56 PM UTC

mkirklions wrote: post #138

s73v3r_ wrote: post #133

Earlier quoted context omitted.

Considering BTC is infinitely divisible, that doesn't matter.

I found spending time learning economics and marketing changed my understanding of the world. I think it would be very beneficial for everyone(especially HN crowd) to learn this. Your sentence isnt important.

Assuming that people who disagree with you do it only because they "don't understand economics" (here's a huge hint: That's not why at all) is extremely uncivil and dismissive.

In the same token, I can easily say that the only reason you are in favor of these things is because you've forgotten the last couple hundred years of economic history.