....There's a reason why there are SEC regulations around traditional investments in the US.....
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Sec? Do you think that Flik filed with the SEC so they can't just up and disappear or else they'll end up with a federal investigation like tezos ? I checked all SEC d forms ... Nothing is there about investment. I did not find single sec form which are publicly searchable. Flik may end at any time.
Institutional distrust is so high right now, and cognitive bias so strong always, that the people who fall for positive news stories are frequently only interested in consuming information that conforms with their views even when its demonstrably fake.
Good investors know that it is their responsibility to understand what they are buying because no one can be relied on to serve their own interests better than they. A good investor must be intelligent. But he does not need to reveal his intelligence to anybody. The only way to make money is to know something that other people dont.
Flik = It is a sheer waste of time.... That really needs no further comment.
I think that everything has been said.
I'm referring to traditional securities, which ICOs have not formally fallen under and thus do not legally require them to register with the SEC. Specifically this cause in Regulation 506 D; "All non-accredited investors, either alone or with a purchaser representative, must be sophisticatedthat is, they must have sufficient knowledge and experience in financial and business matters to make them capable of evaluating the merits and risks of the prospective investment."
This is meant to prevent idiots from investing. Mind you, its the responsibility of the Investment Company (company being invested in) to enforce this and ensure they take money only from individuals sophisticated enough to understand the dynamics of the investment. With no regulations formally in place for ICOs, the above rule legally doesn't apply (yet) and thus is rarely followed.
The participants of this thread are prime examples of why regulations such as 506 D are put in place.