EOS Prohibiting U.S. Residents From Participating In Token Sale? Am I Missing Something Here? Watch My Video Blog...
I checked my e-mail this morning and received an e-mail notification from EOS, since I am a free subscriber to their website for updates. I must say that I was a bit concerned about what I read, especially since I live in the United States. Their website detected that my IP address was from the U.S. and therefore I would not be able to participate in the Token sale because of where I live.
Am I missing something? Why would this be the case? I'm not suggesting that this decision was made by the EOS team because they might be have been put under pressure to restrict U.S. participation.... But why? Perhaps I am jumping to conclusions but if this is in fact the case, then I believe that we have a much bigger issue to be concerned about as this could be a foreshadow of further restrictions to come within the cryptocurrency world. Are we slowing losing our freedoms here in America?
Your thoughts and comments are always welcomed! :) I also want to thank you for your support that you show through your upvotes and resteems! I want to invite you to follow me if you would like @breakingtonight
use https://www.surfeasy.com/ works great
Thank you for the recommended link,
@marco-delsalto
No, we lost them long ago. The screws just keep getting tighter and tighter. We are no longer losing them slowly, it is a very fast process. Sadly, not many people seem to care.
Human government is a beast, and for anyone who cares to pay attention and look, the U.S. government is one of the worst... :(
😄😇😄
Sad but very true, my friend! You said it quite well, @creatr
Most ICO don't let American to participate for some reason, most likely due to regulation and tax purposes. If you want the crypto asset you will have to wait until it enters into poloniex or bittrex.
Thanks for the update, @letsbegreat
At least it's something that is not specific to EOS exclusively. But it does show us how America is so highly regulated these days that it's difficult for its citizens to even participate in various opportunities. Knowledge is power and I thank you for your information.
This is what makes Steemit so awesome because we can have this helpful exchange of information, ideas and resources. Here's a well deserved upvote from me to you! Have a great day!
Anytime!
If you ever have any questions just let me know! I don't promise to know it all but I do try to stay well informed.
Best of Luck
That's very nice of you to offer and I'll keep that in mine! Likewise.
The US government simultaneously treats cryptos as an asset (according to the IRS) and as money (Treasury considers them to be an informal value transfer system), which means that they are taxed like assets and regulated like money. This insanity is extended to any and all businesses that provide services to US citizens and permanent residents (basically anyone with tax liability in the US) through FATCA, which requires foreign banks to report the holdings of all US persons. So, since cryptos are assets, they would need to report them or risk getting into trouble with the US government. So, it's just much easier to tell Americans to stay away. I was just complaining about this in my own post here: https://steemit.com/estonia/@jscottdavis28/how-i-started-my-business-in-estonia
Thanks for weighing in on this very important issue! I appreciate your insights and will try to check your link out later, too,
The system is not always so pleasant, to put it nicely. Hope you have a good day, my friend!
The US has been systematically making it more and more difficult for citizens to invest, do business, or diversify their investments and assets. Some liken it to penning the sheep before shearing. The FATCA laws are so stringent that many offshore banks and brokerages are automatically rejecting US citizens because the penalties that the IRS could impose on them make it not worth the risk. This behavior is typical of totalitarian regimes, which is a scary thought. This makes it all the more important to act now to protect as much of your wealth as possible by diversifying into cryptos, preferably stored on a Trezor or Ledger, and precious metals. If you get a VPN, for example check out witopia.com, your IP address will be disguised and can appear to be from any number of foreign countries--that might help with EOS. It's a good security measure to have anyway.
@eyeofthestorm
It is truly regrettable that we are losing our freedoms little by little and it's probably a sign of more to come... Though I hope I'm wrong.
Because of this, it's crucial that we stay aware of current policies and try to promote the truth and educate others, as well!
Thank you for sharing your insights and passing along what you have learned so that we may all become better equipped to confront these issues.
Have a really good day, my friend! :)
@eyeofthestorm @breakingtonight I ranted a bit more about this here: https://steemit.com/bitcoin/@jscottdavis28/the-blockchain-blues
use a VPN = problem solved. It is unfortunate I agree.
@thejohalfiles
A VPN doesn't solve the problem that you're still an American citizen. It's not a limitation on where you are located, it's the fact that US citizenship comes with a lot of strings attached. Possessing these cryptos are taxable under US law worldwide and possessing them opens up the company you bought them from to serious penalties from the US government, which is why they prohibit participation by US persons from the outset: it's not worth the trouble. Again, my own personal opinion, but I wouldn't mess with things like this because the IRS also has the power to request that the State Department revoke your passport if you're delinquent on taxes from ownership of cryptos.
Thank you very much, my friend! I want to thank you for your helpful advice and support, @thejohalfiles
America seems to hate cryptocurrencies as they cannot monitor and regulate them. I guess that is one of the main reasons why the restricted your participation as most people don't want to deal with problems from the US.
Ridiculous if you ask me
I wish I didn't have to agree with you because it would be much easier to live in a state of denial. But you are right about that and it is very unfortunate! Thank you for sharing your thoughts, @arckrai
Now following you!
You can use hola to access the sale but hola carries a whole new world with their software...let me know if it works
Thanks @daudimitch for the tip and your comment, too! Have a good day! :)
We live in a world which as laws that are so ridiculous you would think this was a comedy movie.
How true and correct you are about that one, @capitalpink
Truth, in most cases, is stranger than fiction!
Just followed you
I followed you back =)
Much appreciated! :)
Happened to me too. This sucks. I remember trying to join the kraken exchange but because of new york laws I couldn't.
It's quite frustrating and that makes sense as New York tries to control all markets.
yea very frustrating. True that!