131–137 of 137 posts
Could someone explain this to me like I'm five? I have an understanding of blockchain, kinda. What is this ICO?
Ostensibly, the tokens here are representative of future services on the platform. Is this just a fancy kickstarter? Was Tesla's model 3 preorder basically the same thing? They raised $400M dollars ($1000 down payment on 400k reservations) on future sales of a product not yet built.
If Tesla fails to deliver the Model 3, I assume they'd need to refund the down payments for all the pre-orders. Similarly, Kickstarter's rules say if the kickstarter is funded but then fails to deliver, they must refund the money (though I have no idea how well-enforced this actually is). Meanwhile, if Brave completely fails and the BATs become worthless, I don't think anybody's going to get refunded.
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I've tried to find more up to date information on him since that post is over 7 years old now and can't. Do you have anything more current or more details on the user pensioner? ericscc.com appears to be gone as well as any of the other prosper forums I've found links to. Not really familiar with the site so is it basically dead or moved out of p2p or something?
The one forum site that still seems to be active is prospers.org, where pensioner was active as late as 2014. Not much conversation about prosper anymore, though (The old timers still there have thoroughly soured on p2p lending). prosper.com itself is still in business. AFAIK they have pivoted to a much more conservative lending model. People who invested before 2010 or so generally lost money, some of them a lot of…
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The effect of missing out on an upside is a lot less than taking a huge hit on the downside. It isn't discriminatory, it's protective. It is sad but many people would put their entire savings and next months rent into a risky investment that is not publicly traded on a regulated market and basically lose their money most of the time because they invest on hype and because their buddy told them. If an accredited inves…
There other ways to protect small investors - education being one example. If someone doesn't know how to manage miney they will lose it one way or another - be it forex, or or penny stocks. ICOs cannot possibly be worse than these legal things.
"We don't need the government to tell us what is toxic and what isn't. Let's people make their own decision about what they eat!"
Which I know sounds very attractive, but then 90% of the population will end up ingesting food with lead in it from China, or whatever.
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The effect of missing out on an upside is a lot less than taking a huge hit on the downside. It isn't discriminatory, it's protective. It is sad but many people would put their entire savings and next months rent into a risky investment that is not publicly traded on a regulated market and basically lose their money most of the time because they invest on hype and because their buddy told them. If an accredited inves…
There other ways to protect small investors - education being one example. If someone doesn't know how to manage miney they will lose it one way or another - be it forex, or or penny stocks. ICOs cannot possibly be worse than these legal things.
if people want to throw in everything they have into speculative currency, then they will. someone's gotta put down the law to at least try and protect damage to the economy when everyone loses their shirts
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Is it easy to find examples of ones who have lost so much that they are literally poor?
Some people lost a lot of money on prosper.com, and at least in some cases, it was known that it was money they couldn't really afford to lose. See e.g. this (and be sure to read the last comment): http://www.bloggingawaydebt.com/2007/01/would-you-lend-75000...
All these ICO's have been avoiding any SEC regulation regarding private security sales by claiming the tokens are just a method to use/exchange services on their platform, not as an investment. However, when ICO's like this one keep happening where only 100 "accounts" own 99% of the ICO offering, you pretty much lose that argument of the tokens only being there for use of the platform. It's a private security sale, a…
> People are throwing their entire savings into this while not knowing anything about it besides everyone in the group hyping it up amongst themselves. Yeah reading /r/ethtrader it's 95% hype and 5% caution. I keep feeling conflicted for not buying in at ~$120-$130, and every day I think about whether I should buy in. But then I try to answer the question "what about Ethereum makes me believe it will be worth more th…