SEC Ruling on the DAO and ICO, Explained
The regulators / enforcers are getting involved , some say it good cos it'll stop week entries and ICO profiteers ! There's a lot good reason why and some really bad reasons !
The main one is the the whole concept of decentralization ! It's not decentralized if you have a central authority ! Anyhow the guys at the SEC don't have jurisdictions over the world ! They'll most probadly use this precedent to terrorist within their jurisdiction which just drive the benefits to crypto friendly countries ! It's kind of suicidal if you ask me ! These guys are terrorizing their best & brighest !
I say let the free market figure it out ! Fraud is fraud in every countrie ! I mean they going after the Mt Gox thieves ! Eventually the standouts will rise to the top !
The DAO was a decentralized venture fund based on Ethereum , 11,000 people invested $160,000,000 which was hacked and funds absconded ! The SEC pounced seeing this as their opportunity to assert their authority !
I say what's wrong with the existing laws , a crime was committed , find them !
The guys are the attack dogs that enforce revenue through fees collections ! They are the epitome of why the current financial system is bankrupt ! Anyway that's my opinion ! Satoshi no doubt thinks in a similar vein ! But I could be wrong ! I'm a free market Austrian eco guy ! I say the market should decide ! And law inforcement can handle what the SEC on behalf of the federal reserve & their minions fraudulently acquired through bribery murder and war !!
What do you think , I would love to here from you !
