All cryptocurrencies are technically illegal or in gray area because in most countries the legal tender has monopoly. And you have KYC/AML regulations that crypto's don't respect.
But so what all crypto users take this responsibility. Any early technology has legal risks.
Sincere Proof-of-work distribution does not present this problem. I explained why
in my posts.
These scammy ICOs and obfuscations of ICOs are in much greater legal jeopardy.
It's that law that is wrong, the law has to change. But by now governments have became so big and monstrous that it is time for people to push back against it.
So reforming the legal system is a priority, people are getting tired of bank bail-ins, social security ponzi schemes and stagnating wages, while the supposed boogeyman are some punks who might not respect KYC regulations properly.
Tell me which one is a bigger problem for society?
Two wrongs dont make it right. Those who must do scammy and illegal things, will not successfully reform the government.
How can a technology lead when it is inherently just the same politics and power struggle crap it is trying to replace.
Big youtubers could join any time now. They are getting hammered on Youtube revenues.
Steemit is a complimentary revenue for any blogger. Why not use it?
Because the voting revenue model sucks and is dominated by whales. And because the audience is tiny. The hen-egg problem is a serious problem.
The app revenue and onboarding model is one the main facets where my project to replace Steem, will excel over Steem.
And he is very likely in massive trouble with the law in the future, especially with EOS.
I believe they don;t accept US citizens in the ICO sale. Most regulatory problems come from the US.
.
The rest of the world is more relaxed.
We already have Russia, China, Singapore, Hong Kong, South Korea, Canada, UK, and USA warning about further enforcement coming against ICOs. They all caved in for FATCA as well.
This is just the beginning of the natural power vacuum of centralized paradigms.
Watch it either disintegrate or taken over by an oligarchy.
Not with the delegation system. Many newbies could band together to mount a collective defense against an out of control whale.
It makes things more equal.
A minority of votes in the ecosystem can always be out voted by a 51% oligarchy on every DPoS delegates election.
A plurality of minority voting blocs is disintegration from any coherent plans and developments. Normally this is what we want for decentralized ledger, but not when minority blocs can downvote each other into oblivion.
Democracy and politics is what we need for decentralization to supercede so that we can attain greater cooperation in society. See the following Steem conversion on that:
https://steemit.com/freedom/@anonymint/re-anonymint-re-anonymint-re-anonymint-re-anonymint-re-anonymint-marissa-mayer-is-the-poster-child-for-bitches-in-tech-20170906t062435963z