Re:Investor Alert: Public Companies Making ICO-Related Claims
by jstanley on Tuesday August 29, 2017 @02:34AM
(#15122524)
> OK, but you realize that the blockchain in your case is only used because regulation exists right? As in, if the SEC did not exist, you could just sell shares on an open market without registering. But you're using the blockchain so you don't have to do this. Is this correct?
No. He's not selling shares in the company. He's selling the product, he just hasn't built it yet.
The reason to do this on Ethereum instead of MySQL is partly because it makes it easier for users to exchange tokens with one another, partly because the infrastructure is already built, and mostly because people ho mad for it and it seems to be an easy way to get millions of dollars.
I think almost all ICOs are basically scams, but that doesn't mean they're just a way to sell shares without regulations.
Edit: and in fact the vast majority of Ethereum network costs are paid by the customers, not the company. I'm confident that using Ethereum for this is a cost-saver relative to MySQL, but it wouldn't even matter if it wasn't because of the huge ICO craze.
No. He's not selling shares in the company. He's selling the product, he just hasn't built it yet.
The reason to do this on Ethereum instead of MySQL is partly because it makes it easier for users to exchange tokens with one another, partly because the infrastructure is already built, and mostly because people ho mad for it and it seems to be an easy way to get millions of dollars.
I think almost all ICOs are basically scams, but that doesn't mean they're just a way to sell shares without regulations.
Edit: and in fact the vast majority of Ethereum network costs are paid by the customers, not the company. I'm confident that using Ethereum for this is a cost-saver relative to MySQL, but it wouldn't even matter if it wasn't because of the huge ICO craze.