With traditional shares, you own a part of the company. You have legally guaranteed protections in place that the board of directors of a company MUST have your best interest at heart at all times, or they go to jail. By us idiots (myself included) investing into ICOs whereby we forfeit all judicial and legislative protections that a company is MANDATED to have our best interests at heart, we essentially take on all the same risks as shareholders do, without any of the benefits. We essentially trust completely private enterprises that they'll always have our best interest at heart as token holders. Stop, pause, and realize how stupid we all are.
Take FUNFAIR for example. This is a huge risk investment with a lot of potential. As an early contributor, you get absolutely no equity, profit, or anything else in the platform, but rather simply the ability to purchase the token that will be used by casinos early. That's it. Investors like us fund companies like this from the ground up, and yet receive absolutely nothing comparable in return in the way of ownership and profit sharing.
Guys, we must all WAKE THE FUCK UP. Honestly. We must unite and STOP this practice whereby we invest in utility tokens. ALL ERC-20 tokens, and platform tokens, should be securities. Nothing else. We should all have ownership in a company we invest in, including sharing its profit.
None of these shit tokens offer any of the reward that we as investors deserve for the risk that we take. Absolutely none, unless you can cite me a specific ICO that gives you legal ownership of the company with the token, then none. The one exception are DAOs. Yes, these do confer you actual ownership, and I wish this is the direction that all ICOs would take, however they don't. Most ICOs are centralized and are not DAOs, and they will give you shit tokens rather than ownership shares that you deserve.
This is a realization we should all make. This practice needs to end.
Well, crypto is nothing like traditional shares. It is good that you realize that tokens are not shares, but no one have promise me share of certain ICO, I bet they did not promise you either. We are investing and hope to get good return for our money. Yes the tokens are just a securities.