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RE: SEC v ARISE: The Trial of The Century?
The simple facts of the matter are:
- AriseBank is and always was the most clear+obvious scam (I was posting this, and providing plenty of evidence for this, to try to save people from getting scammed by it [while Stan kept pushing it], for a week before the SEC finally clamped down on them - you can look at my past comments if you want to read the evidence, tho since all traces of AriseBank such as its website long since disappeared, it's harder to confirm now, though this obviously only strengthens the case for scam)
- it's a real shame that people like you, @Stan, keep promoting it
- it's actually a good thing that we have government and government regulation to protect people from getting scammed out of their money, as we've been learning through the crypto space being chock full of scams and hacks and ponzi's etc. Supposedly AriseBank stole $600 million in investor money. That is not a good thing for the world. That is why regulation to prevent investors getting hoodwinked like this can be a good thing. I think it's also probably not true (probably AriseBank raised much less, given that it was only ever just basically one guy and a fake website), but at least it's the figure that the guy behind AriseBank was claiming.
Your key word is "supposedly".
The "supposedly" was around the claim that they received that ($600 million) amount (that's what the CEO claims, but I wouldn't trust a word he says), not whether however much they did receive is lost to the investors, which is without doubt, imho (unless the government can manage to seize it and return it, which would be by far the best possible outcome for investors).
Hey stan. I want some expery advice frm u.
I was happy though @Stan, to see you actually reply to one of my comments - at least that shows that you do read them, so they're getting through to some extent at least :). I would further love to see you more thoroughly address all the red flags around this AriseBank ICO, all the clearly shown to be lies that the CEO made in promoting AriseBank as being much more of a real thing than it ever was, his dodgy history which anyone can google, and the size of your role in giving it credence through your associating your + Bitshares' names with an otherwise obscure dodgy-looking ICO, and thus leading many more investors to be potentially scammed, if in fact I'm right about it being a pure scam (which all the evidence is pointing to, imho).
If you could further elaborate on what kind of responsibility you see yourself having as a (at least self-declared) figurehead in this cryptospace, to uphold certain levels of ethics and due-diligence in promoting things, that would be very welcome too. And if you could comment on the negative effects on the whole crypto-space you see your actions as potentially causing, if in fact this ICO that you've played such a large role in pushing and now turning into a cause, is and always was in fact a total scam. Such as how this only highlights and speedens the need for the very kinds of government regulation that you now claim to be opposing - if the crypto-space, and figureheads within it such as yourself, can't self-regulate enough to even weed out such clear scams, then what do you really expect or think is best for the government to do? Personally, I'd expect+hope to see them coming-in to regulate.
My role is to fight for fairness. From our industry and from our government. I am watching both sides carefully and am satisfied that I am acting with fairness and integrity to the best of my abilities. I have been blessed with a seat on the 50 yard line in this one and this article makes what I am doing with that position very clear.