SEC Issues Report Concluding DAO Tokens, a Digital Asset, Were Securities

Re:SEC Issues Report Concluding DAO Tokens, a Digital Asset,... by xorcist on Tuesday July 25, 2017 @05:42PM (#14852128)

Every one of these scams that have imploded, including the DAO itself, have had participants crying out for interventions. That should speak volumes about the amount of consent involved (and indeed the sophistication).

[ Parent | on HN ]

Re:SEC Issues Report Concluding DAO Tokens, a Digital Asset,... by maneesh on Tuesday July 25, 2017 @06:05PM (#14852306)

Citations? I know of maybe 5-10 coins that have been hacked or imploded in a fraudulent way due to the intrinsic nature of the coin, out of thousands created

[ Parent | on HN ]

Re:SEC Issues Report Concluding DAO Tokens, a Digital Asset,... by Jabanga on Tuesday July 25, 2017 @07:51PM (#14852827)

There are hundreds of projects that have held token sales. The vast majority have not imploded.

For what it's worth, I think the majority will fail to produce a profit. That's okay. A high failure rate is fine in an emerging industry. Venture capitalists can easily tolerate 90% failure rates for example.

[ Parent | on HN ]

Re:SEC Issues Report Concluding DAO Tokens, a Digital Asset,... by julian_1 on Tuesday July 25, 2017 @08:04PM (#14852873)

The business case may have been questionable, but the DAO was not prima facie a scam. It lost value and mission due to poor technical implementation.

[ Parent | on HN ]