|
|
|
|
|
|
by ve55
3192 days ago
|
|
|
Haha, I appreciate the response, I'm glad that upon doing your own investigation you found that my wording was reasonable. As far as legality goes, it's difficulty to say. I think that a project like this is likely paying lawyers good money to make sure they stay 'in the green', but lawyers can only do so much to protect you when you do the things that they're doing. We all know that projects like Paragon and many others are the reasons why regulations will come even harder in these areas. As for to what extent the law needs to protect investors from making terrible investments, I'm not sure, the game changes a lot when companies start completely lying to their investors, and that does seem to me (as a non-lawyer) like one of the many good places where lines can be drawn. |
|
|
I figured if I was doubtful, other people might be doubtful. Rather than have you be dismissed, it seemed to me that confirming your post was the prudent thing to do.
I was pretty shocked. That's fodder for a whole HN link and thread. I really figured you were blowing it out of proportion. Nope... Hell, the list of complaints goes on and on.
I'm reminded of when drones were gaining in popularity and people, notably on Slashdot, were saying all the things they were doing and how nobody could stop them. I told them that is how you end up with draconian regulations. I was moderated quite heavily in the downward direction. Fast forward a few years and they are complaining about draconian regulations.
Which is to say you're right. They are going to end up coming down on this, and coming down on this hard. I'm sure some rebels will say it can't be prevented, but laws don't work like that. They don't prevent anything. They'll just make cryptocurrency illegal, use and possession, and selectively prosecute the offenders.
That's worst case scenario, I guess. They may just regulate ICOs heavily and stop the regular person from investing. I doubt that will bother the wealthy and established players much. Even better, they'll be doing it 'for your own protection.' Those sound bites will appeal to the masses.
By the way, this is one of those times I wish an HN poster had been wrong.