151–156 of 156 posts
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Presumably the part where you fraudulently faked KYC stuff.
So a checkbox or screenshot for KYC is going to fly with the SEC? They aren't going to go after retail investors.
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You're missing the point. Blockchain tokens are worse than centralized alternatives in most ways, so if the integrity of a financial security is codified through law then there is no need to pay the expensive costs to also have it codified as a blockchain token, especially because the law is the ultimate arbiter of the security's qualities and capabilities not a blockchain. A blockchain is useful when it can establis…
There is not much that is centralized about "the law", and "the law" isn't really a mechanism for modeling and trading securities. To some extent, by the same logic, the Internet is inherently a centralized platform (because it's governed by law as well) and would therefore be better if replaced by AOL. I looked at your comment history and it seems you are assuming that people with a so called "pro blockchain" angle…
Perhaps, but the SEC is pretty centralized, when two people can't come to an agreement then securities law enforced by the legal system determines the outcome of the dispute not smart-contract rules enforced by blockchain consensus.
> * I assure you not everyone in the space is an idiot, and you might be missing some points yourself.*
I don't think they're idiots, I think they're financially and emotionally invested in a fascinating technology that's not very useful. I don't think anything is wrong with that, and maybe one day I'll be proven wrong, but I have worked in this space (backend engineer for an exchange) and continue to follow it closely but skeptically and with good reason if you're intellectually honest about the track record of this industry.
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So a checkbox or screenshot for KYC is going to fly with the SEC? They aren't going to go after retail investors.
If the crux of your plan is, "We're going to lie to the federal government about what we're doing, and hope that we're small enough that no one notices," you've got a pretty big flaw in your plan.
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So a checkbox or screenshot for KYC is going to fly with the SEC? They aren't going to go after retail investors.
> They aren't going to go after retail investors I work in the securities business. We once had someone send in a suspected altered document. Their state AG was notified, the U.S. Treasury and Homeland Security were notified, the SEC and FINRA were notified, and then we got some questions from Interpol, in Europe, and the UK's financial crimes investigator (through federal law enforcement). Fraudulently opening a sec…
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Gab and it's crowd are quite abhorrent, but I don't think most people here are going to care about the mention that they're trying to do a token.
He was kicked out of HN. You underestimate how petty the mods here can be.