And about ICO, why would you offer coins to people if you know you can succeed? yes ICO usually puts the risks of failure on investors.
Topic: Are Chinese bitcoin investors that gullible? - page 2. (Read 5280 times)
This is just another story mentioning someone got arrested and went to prison simply because was involved with bitcoin, I'd strongly suggest to ignore any information on this thread because a homeless man can get arrested and go to prison due to involvement with begging for paper money
And about ICO, why would you offer coins to people if you know you can succeed? yes ICO usually puts the risks of failure on investors.
And about ICO, why would you offer coins to people if you know you can succeed? yes ICO usually puts the risks of failure on investors.
The government has a obligation to protect consumers from fraudulent operations and any information that would help to inform gullible people, will help. Most people's judgement is clouded by greed and then they make bad decisions. Just look at the success of MMM for instance and with a simple "Google" search, losses could have been avoided.
There is a difference between being gullible and being greedy. ^hmmmmmm^
There is a difference between being gullible and being greedy. ^hmmmmmm^
Why would Chinese investor be gullible?
I'm probably not understanding the full story. Are you saying that Chinese investors are gullible for considering an ICO or that Chinese investors are gullible because they need or are listening to the Chinese lawyer's questions/guidance?
What exactly are you asking here?
I'm probably not understanding the full story. Are you saying that Chinese investors are gullible for considering an ICO or that Chinese investors are gullible because they need or are listening to the Chinese lawyer's questions/guidance?
What exactly are you asking here?
Sorry, the title is a quote from Chinese news comments.
Why would Chinese investor be gullible?
I'm probably not understanding the full story. Are you saying that Chinese investors are gullible for considering an ICO or that Chinese investors are gullible because they need or are listening to the Chinese lawyer's questions/guidance?
What exactly are you asking here?
I'm probably not understanding the full story. Are you saying that Chinese investors are gullible for considering an ICO or that Chinese investors are gullible because they need or are listening to the Chinese lawyer's questions/guidance?
What exactly are you asking here?
ICO=pre-mined coins
majority of pre-mined coins are pump and dumps.
it does not matter how many coins are produced or any of that. unless a coin serves an actual purpose and actually has places to use a coin. its useless.
treat ICO's as penny stocks (pumps and dumps) only throw a penny at them, and at most just the same amount you would waste on fast food that just gets flushed away in the toilet 6 hours later.
and as for all governments that all make the standard investment advice of "investors should consider it as carrying a “high degree of risk”. and not to expect guaranteed returns or profits. because you can make a loss aswell as a gain"
majority of pre-mined coins are pump and dumps.
it does not matter how many coins are produced or any of that. unless a coin serves an actual purpose and actually has places to use a coin. its useless.
treat ICO's as penny stocks (pumps and dumps) only throw a penny at them, and at most just the same amount you would waste on fast food that just gets flushed away in the toilet 6 hours later.
and as for all governments that all make the standard investment advice of "investors should consider it as carrying a “high degree of risk”. and not to expect guaranteed returns or profits. because you can make a loss aswell as a gain"
Why are they singling out Charlie Shrem? There are other ICOs in China that also deserves the same kind of attention. There is this new big ICO called Qtum that was featured in Coindesk a few months ago and it has formally announced that they had $1m in VC funding. They are also claiming that Roger Ver is an investor.
If you check their ANN thread there are a lot of dishonest stuff being exposed there. The lead developer or something was involved in an altcoin scam and ran away with hundreds of Bitcoins. The Chinese lawyer should question them too without bias.
If you check their ANN thread there are a lot of dishonest stuff being exposed there. The lead developer or something was involved in an altcoin scam and ran away with hundreds of Bitcoins. The Chinese lawyer should question them too without bias.
Note: Charlie Shrem is a bitcoin advocate who co-founded a bitcoin exchange start-up Bitinstant in 2011. The company charged a fee for users to purchase and make purchases with bitcoins at over 700,000 locations. On January 27, 2014, Charlie Shrem was arrested at New York’s JFK airport and charged with “conspiring to commit money laundering by selling more than $1 million in bitcoins to users of the black market website Silk Road”. BitInstant website has been blank since then. Charlie was sentenced to two years behind bars, serving his time at Lewisburg Federal Prison Camp in Pennsylvania. He has now been released from imprisonment and is serving three years of supervised release.
His recent ICO plan was questioned by Chinese lawyer:
Quote
Liu Xinyu, a senior partner of Dacheng Law Offices, warns that Chinese investors should consider it as carrying a “high degree of risk”. He suggests that no investment should be made without detailed info about the following questions.
Is there a maximum amount of token holders?
How to be a accredited investor for Chinese investors?
Who is the owner of all those digital assets?
How to verify project info?
How to protect the interest of token holders?
How to sell tokens? To whom?
Is there a maximum amount of token holders?
How to be a accredited investor for Chinese investors?
Who is the owner of all those digital assets?
How to verify project info?
How to protect the interest of token holders?
How to sell tokens? To whom?
http://news.8btc.com/bitcoins-first-felon-charlie-shrem-speaks-about-his-new-investment-fund
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