Re: [ANN][TAO/XTO] Tao - Real Solutions for the Music Industry!
Making a throwaway to point out that this is, in fact, a lie.
Bryce did put a cap on the fundraiser, but at 30 million (1USD = 1TAO), not $100 000. The latter is just what he managed to raise (in fact, he raised slightly more than that, according to contemporaneous PR material).
See e.g. https://bitcoinprbuzz.com/tao-network-announces-the-crowdsale-of-its-cryptocurrency-and-the-tao-of-music-project/
Quote
The TAO Network has made 30 million TAO tokens available for the ongoing month-long crowdsale. Rest of the tokens are allocated for development, marketing and community building exercises. The platform has announced that the value a TAO token will not be more than $1.00 during the crowdsale. Participants in the crowdsale shall receive a 25% bonus on their deposit if the deposit is made prior to Friday, August 5th.
You might want to re-read that a little more carefully. "Not be more than $1.00" isn't the same as setting it specifically to $1 the way you're representing it. The amount paid per Tao was proportional to the amount raised, and it ended up at approximately $0.003 per Tao, which is a long way from $1.00
Whether it was capped or only raised ~$100K is irrelevant to the question of whether it qualifies as a security.
It does not.
BILLIONS TRUST ME
WEEEEEEDo you have anything of substance to contribute to the conversation or are you basically just mashing the keyboard at this point?
