another legal point is Atoms are not being traded.. they are auctioned... The Whales or Founders have no impact in the transaction and I don't recall any discussion on Atoms when in the private rooms on slack..
auctioning is trading.... its just a bid process with an initial price. thats like saying i didnt sell something on ebay i auctioned it.
its not a car i call it a mode of transport..... i didnt buy my food from the supermarket i swapped green notes for food. see how dumb it sounds?
I'm sure he's completely aware that auction is simply a different form of trading, it's just a rather hamfisted attempt to move the discussion away from the fact that regardless of it's legal status, there is still the possibility of manipulation by the whales.
Staying on track,....
Can you name a single cryptocurrency that is free from the possibility of manipulation by whales i.e. large stake holders
All cryptocurrencies are open to the possibility of this type of manipulation, if this is a red flag then why waste your time in the land of cryptocurrency.
In all honestly, I actually agree with you to an extent there. For my part, while I find the idea of investing in crypto mostly too high risk for my own tastes, I do find blockchain tech fascinating; on the other side of things I also find the mania and delusion that prevails in most cryptocurrency communities really interesting and occasionally hilarious.
However, I also really dislike seeing naïve people sucked into schemes they probably don't fully understand, particularly when something is essentially so poorly planned and run that it's very clearly going to struggle to succeed or, in a lot of cases, simply an outright scam from the beginning. Of course, I fully concede that people are free to invest in what they choose. That's fine. I'm also allowed to express my opinion, and if something I write helps to fully inform someone of a situation they may have only heard one side of, I think it's worth it.