[Animats]

It looks like the SEC is starting with the worst scammers. They've also been phoning up ICO promoters, and having a little talk about what's a security.

CoinMarketCap lists values for 265 known tokens.[1] The biggest market cap is OmiseGo, for which a market cap of over $1 million is claimed. As far as I can tell, owning an OmiseGo token lets you do absolutely nothing.

As a joke. someone did an ICO of the Useless Etherium Token. It's totally worthless. They tell you that up front. They raised $95K.[2]

[1] https://coinmarketcap.com/tokens/ [2] https://uetoken.com/

[CryptoPunk]

>>As far as I can tell, owning an OmiseGo token lets you do absolutely nothing.

You know very well that the value of OmiseGo tokens is based on the token-compatible platform they have said they are developing, and not what can currently be done with the tokens. Leaving out this point is disingenuous.

[Animats]

It's not clear that their own platform gives value to their own tokens. They talk about wallets on their platform holding BTC or ETH.[1] Their own token mostly funds them.

[1] https://cdn.omise.co/omg/whitepaper.pdf

[CryptoPunk]

It's absolutely clear, given the plan is to make OMG the staking token used for securing the OmiseGo sub-chain. It's right there in the abstract of the white paper:

>>It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable enforcement of market activity amongst participants.

It's no crime to be ignorant of a subject. It's intellectually dishonest to criticize projects while in such a state.

[Obi_Juan_Kenobi]

Important typo, 'million' should be 'billion'.