Post
Topic
Board Altcoin Discussion
Re: BitShares scam2.0, Still scamming
by
TPTB_need_war
on 11/01/2016, 13:08:15 UTC
Stan, I suggest you not sell the future as you have done in the prior post. Because all this selling the future is potentially getting you in deep trouble with the SEC. Both you and Dan are US citizens as I am, correct. The other flaw of PoS, and especially DPOS and Dash masternodes (as pointed out by smooth et al) is you are paying yourselves via the shares from an enterprise that issued unregistered investment securities and which also requires each stakeholder to register as a money transmitter with FinCIN. I can't fathom how you convinced yourself that you are not going to jail in the future or end having to lick the boots of the SEC as Erik Voorhees did to wiggle out of jail time.

As of now what you have is:

BitShares meets all our threshold design objectives for a practical engineering solution to a secure self-governing real-time blockchain.

You and Dan are intelligent and good with bending words. I am good at drilling down between the lines. What the above sentence means is that you think crypto currency is politics and governance. Others of us think it is permissionless commerce.

If you guys become more aligned to reality and stop the delusion, then I would be more inspired (say to work with you or build apps on top of what you are doing). But for one thing I can't even fathom to support your operation because it appears to be illegal according to the Howey test.

Funny how so many people think that crypto is limited to only one application.  The ideal design for an autonomous cryptocurrency does not necessarily apply to other business applications, including private applications which have no need to be decentralized at all.

Then if you are selling shares in such a corporate development, then register them with the SEC or document your exclusion. Do the required disclosure to investors and those building apps on your platform, so we know the legal and criminal ramifications. Private businesses have to follow the laws. Leading others into potential jail time and not informing them is going to make the court that much more hard on you two brothers.