Post
Topic
Board Securities
Re: [LABCOIN] IPO [BTCT.CO] - Details/FAQ and Discussion (ASIC dev/sales/mining)
by
BitThink
on 21/09/2013, 10:13:05 UTC
Ukyo you are wrong here, Labcoin should not only have a warning attached, it should be delisted entirely. They used burnside's platform to lie to investors. No exaggeration, they lied and deceived, and no one can debate that. Why is that okay with no consequences? This stock has done great damage to btct's reputation.

People here keep forgetting about lies and fake promises. Only complaining about things that are against their own selfish and stupid investments. This is pathetic.

From the "Asset Issuer Terms of Service:" of BTCT:
"You are responsible for following through on your contract. Do not promise anything you cannot deliver."
"If found in violation of these rules, you will be given a warning and will have 7 days to come into compliance. If you do not comply your asset will be delisted."

Should have been delisted long time ago. But yeah, let's complain about how burnside was a bad boy with Labcoin putting a small warning (not even in red).

The problem with that clause is that delisting only hurts investors. Labcoin already has their IPO money, whether they're listed or not.

You are right in that it cannot prevent scams, which only aim the IPO gains. List or delist, the money has gone. But for other bad behaved companys, majority of assets of whom are in their private shares, delisting is a punishment they cannot risk. Moreover, allow a confirmed liar to stay in the market to avoid hurting existing investors equals to support a Ponzi system.