Quote from: RealCryptOracle on January 30, 2018, 03:15:21 PM

Quote from: Jacob jchaes on January 30, 2018, 09:09:12 AM

On Friday, a Canadian court ordered a two-month jail sentence against PlexCoin creator Dominic Lacroix and $100,000 in fines against his company for contempt of court, according to Radio Canada. The day before, the U.S. Securities and Exchange Commission (SEC) sought extensions of its restraining order, asset freeze and order against destruction of documents by PlexCoin and its organizers, according to FinanceFeeds.

PlexCoin promised a platform that would provide the same services as bitcoin, but do so faster. "This implies a huge success for PlexCoin as soon as it launches," its website said.

Quebec's finance regulator, Autorité des marchés financiers (AMF), had ordered PlexCoin and its parent company, DL Innov, to cancel the sale. When it allegedly did not, the AMF sought and attained a court order. Last week's ruling by the superior court in Quebec follows the continuation of the offering in violation of the court order.

But that's outdated news. See the source: https://www.coindesk.com/plexcoin-founder-gets-jail-time-fine-contempt-charge/

The questions I am asking myself is:
1) What are the latest news? https://twitter.com/Plexcoin1/status/958033997325590530
2) And why did the price go up 95% today? https://coinmarketcap.com/currencies/plexcoin/#charts

I think that the price went up because it's still actually traded, interestingly, on Cryptopia. I don't know the actual terms of the sale, but according to the SEC, people purchased $15M worth of these coins. And so there is a functioning market that you can see with people selling (and buying, amazingly) these tokens - https://www.cryptopia.co.nz/Exchange?market=PLX_BTC.

What is interesting to me from a market perspective is that markets can have lives of their own, and are not always (or even much) dependent on actual human events. The people actually behind this ICO, despite what the ridiculous whitepaper said about a huge team all over the world, apparently consisted mainly of one guy and his girlfriend in Quebec, and who has been identified as a recidivist securities fraudster (according to the SEC notice, which is according to the Quebec authorities), was fined $100,000, had his assets frozen, and was sentenced to a couple of months in jail. All of this occurred, directly in connection with this token, and yet it has a life on an exchange. That is - not everyone has dumped it to the point of zero. This I find interesting, and I wish I had time or many years left in my life so I could go do a couple of years of research trying to learn to what extent people will continue to trade what appears to be a zombie coin.