Do you read legal agreement when you purchase tokens in ICO?

Andruha1993

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Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

I always start reading the document, but I have never read it to the end, because laziness. And I do not understand half of what I read, so I usually agree, without thinking about the future.

Nagricoin

jr. member

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Of course - this is first step what I do it.

Kippah

newbie

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Do you find it too long or too complicated to read?

I am collecting large dataset to better understand how you invest in ICO. We want to start a community due diligence project, which could provide better information about ongoing ICOs and protect you from the scam ICOs. Let's get rid of the bad ICO apples!

In order to do that I need your help! If you ever invested in ICOs (at least one) fill in this survey (won't take you more than 5 minutes.) May the blockchain be with you!

https://tilburglawschool.eu.qualtrics.com/jfe/form/SV_3sCWmLd0wY1OK3P

Kippah

newbie

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Quote from: traged on March 17, 2018, 04:30:31 PM

Never read it to be honest...too much info everywhere, I somehow just trust they wont cheat me Sad

I know this is probably not the best approach...

Well they usually try to overwhelm you with information, so that you dont have time or will to read the rest. But if you invets more than 500$ worth of crypto I would definitely advise to do that!

traged

newbie

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Never read it to be honest...too much info everywhere, I somehow just trust they wont cheat me Sad

I know this is probably not the best approach...

padcoin

jr. member

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I have never read t this agreement, i must have sold my soul to the devil hundreds of time, i will read this agreement later maybe

Hermes Mercury

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Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

An interesting subject never i stopped to think, i believe this topic can help with basic security issues and be a lawyer is a skill that will be considered when the crypto is more comprehensive.

Kippah

newbie

Activity: 42

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If you need short advice about all things legal about ICOs, let me know.

Kippah

newbie

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Do you for instance keep the agreement when you purchase tokens?

Sometimes they disappear from the website when they finish the ICO.

Kippah

newbie

Activity: 42

Merit: 0

Quote from: DesmondHayes on March 14, 2018, 05:31:23 PM

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

Like the colleagues said here; I also think that the most of the investors ain't looking at the agreement which is actually very well written in some cases. Investors are in most cases just seeing the possible profit which is causing the actual agreements forgotten.

Many of the investors still have a lot to learn in the knowledge field but they choose to follow the big investors which have big reputation ad their investment is more important to the common investor then the legal agreement is.

People should be more educated in that field and I am very glad that you have started this topic. Maybe your thread will open the eyes of some investors and make them think rationally before investment.

What do you mean that people follow big investors? How do they follow them? We can only estimate how much was invested in pre-ICO and that number may not be even true. So in terms of following big investors this is very hard.

DesmondHayes

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Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

Like the colleagues said here; I also think that the most of the investors ain't looking at the agreement which is actually very well written in some cases. Investors are in most cases just seeing the possible profit which is causing the actual agreements forgotten.

Many of the investors still have a lot to learn in the knowledge field but they choose to follow the big investors which have big reputation ad their investment is more important to the common investor then the legal agreement is.

People should be more educated in that field and I am very glad that you have started this topic. Maybe your thread will open the eyes of some investors and make them think rationally before investment.

Kippah

newbie

Activity: 42

Merit: 0

Quote from: vaso11 on March 14, 2018, 05:14:47 PM

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

This is very interesting. I'll keep you in mind when choosing the next investment project

No problem! Let me know!

vaso11

full member

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Deal Coin - P2P Lending Eco-system

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

This is very interesting. I'll keep you in mind when choosing the next investment project

Kippah

newbie

Activity: 42

Merit: 0

Quote from: mikfresh on March 14, 2018, 04:44:52 PM

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

Cool! Thanks for your patronage. It can be useful for users but it could be more for new projects. If I may suggest you, consider writing your experience in the service section of this forum. Some projects may need an advisor for legal matters. Greetings!

Believe me they do have lawyers, but not to make things better for tokenholders. Their lawyers care about their client's interests eg the ICO founders... so no liability, no need to provide anything and other contractual arrangements like that.

InahC

full member

Activity: 252

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Most of the people don't read this kind of thing, after they understand the white paper and what the company does, proceed without reading the Agreement, because most of the people are really tired of reading a long writing of this kind of thing.

Kate Beckett

member

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Merit: 28

Honestly, I never read license agreements. And in general I doubt that there is someone who does, except lawyers. Everyone is accustomed to rely on the prudence and conscience of the provider of services. I know that because of such gullibility and inattention, various problems often arise. But in most cases, laziness takes its toll and people just click on the tick, while they have no idea what they just signed.

mikfresh

member

Activity: 266

Merit: 11

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

Cool! Thanks for your patronage. It can be useful for users but it could be more for new projects. If I may suggest you, consider writing your experience in the service section of this forum. Some projects may need an advisor for legal matters. Greetings!

hikky22

sr. member

Activity: 490

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Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

So it would be very cool to get documents when we buy tokens, because we buy assets of certain projects, but we do not provide any documentation.

Kippah

newbie

Activity: 42

Merit: 0

Quote from: ManaMan on March 14, 2018, 04:27:08 PM

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

Honestly I don't believe that many people do. When you think about it most of people simply scroll through and skim read the whitepaper and not understand everything and you think they read agreement? Of course many don't, it is similar when there is ToS for signing up with some website and people simply check the box without reading.

Yes you are right but when you check the T&C box online it is usually not about hundreds or potentially thousands of dollars, euros etc.

ManaMan

member

Activity: 238

Merit: 38

Quote from: Kippah on March 14, 2018, 04:23:50 PM

So I was wondering, do you check the agreement when you purchase tokens? Do you understand what it says?

If you have further concerns PM me, I am a lawyer.

Honestly I don't believe that many people do. When you think about it most of people simply scroll through and skim read the whitepaper and not understand everything and you think they read agreement? Of course many don't, it is similar when there is ToS for signing up with some website and people simply check the box without reading.

Topic: Do you read legal agreement when you purchase tokens in ICO? (Read 138 times)